52 replies to this topic

[zoropb]

Z,
I am staying away from ground up projects, my goal
is to do cash only deals on bank owned manufactured
housing. Main concern on those is not too old and
make sure no water leaks. I can talk to the lender
to see what items have to be addressed for them
to approve a loan for a buyer on one of them, can talk to the
county inspector as well. Cash only gets a much
better price and fast.

No doubt about it C. cash is king.

Good and much better to start like you are. I have done a lot of buy fix and turn the same goes for those about what I said. Know your stuff! Always think first what my downside is and in this biz too then think about the profit. You sound like your on the right path. I retired from that end (building of any kind other than my own) execpt for 4 blocks of waterfront/ocean access land I bought that is as of just 2 months ago approved for an int'l airport 6 mins away on a beautiful biodiversity area near the center of town. The locals did not believe it was coming I had buds from all my contacts it was and went for it. Already up ridiculous since the news. Now land you really better know your stuff. Do not touch that until 20 years in the biz!

Edited by zoropb, 09 September 2013 - 07:55 AM.

[NAV]

NAV,

I don't know what well capitalized means

If you are trading 1 contract of e-mini, you would need at least $25k in capital. I am not talking about intraday trading here. This is assuming you are a swing/positional trader who takes overnight risk. Assuming a overnight risk of 10 points on the ES, you are talking about $500 risk which would be 2% of your $25k.

Remember even with 1 contract per 25k you are 2X leveraged. But it's manageable. If you are playing with anything less than that, then you are playing with fire and risk wipe-out at some point in your trading. As a matter of fact, most trade higher leverage than this, which is why they are so edgy about carrying positions overnight and tend to truncate their trades intraday.

As for the 50k capital you mentioned, i don't think you can make a living in the U.S with such low capital, if trading is your only source of income.

Edited by NAV, 09 September 2013 - 08:21 AM.

[CLK]

NAV, already my price based buy from Friday is up over 10 points, I did not take it though I wanted a retest, buys usually do no not. I still like rare high odds divergences to give me the confidence to use a wide stop. Right now, 10 is dangerous for my capitalization, and 2-3 gets hit too easy.