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Originally Posted by Red
There is no perfectly safe investment plan. That's what I am trying to say, you and a few others seem to treat RE as a surefire way of getting rich. That's simply not true.
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It's something that's done well for me so far, and while I understand everything could fall flat on its face, the likelihood of prices reverting to early 2005 prices is highly unlikely. So even if I don't make another cent on these houses, I'm doing well enough. And I don't think I've ever claimed you'd be stupid not to invest in RE. Only that it's worked for me, and I don't really see things crashing.
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re: above, if the houses go down to where they were two years ago the rents will follow. It will become a $1500 mortgage + taxes, maintenance and $800 rent revenue. Not suggesting that this WILL happen, but people need to be aware of it.
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And all my stocks could crash overnight as well. Who cares? I don't think anyone goes into an investment thinking that the only possibility is big gains. There can be losses too. I just don't see those losses in RE for another 5 years or so. Personal opinion, maybe.[/quote]
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My problem with RE investing in Calgary right now is that it's just like buying a stock that has been really hot for a while. You're buying at a bloated pric. Some will continue to go up, but most will correct themselves and leave the investors in the red.
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Is that how you came across your username?
You really do sound like someone who's been burnt in the past. Which is understandable, there's nothing wrong with caution. I just can't see myself sitting on the sidelines ignoring investment opportunities. Maybe it's just a mindset thing. Once again I ask, what would you suggest? I've seen a lot of negativity from you regarding investing. Do you suggest doing nothing in this economy? Because that just seems crazy to me. Tonnes of people are making good money out there. Why shouldn't you try for a piece of the pie?