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  1. imirza

    PETER2: In Memory, R.I.P.

    OFF-TOPIC 
    While its sad to see Peter go, he did more in his 40 years on earth than most people would do in 400 yrs. He lived his life to the maximum and you couldn't really ask for anything more. May he find eternal peace and continue to inspire us all.
  2. imirza

    Financing Question

    REAL ESTATE 
    GLC65 - I like the way you think. My partner and I had also thought about that. The one issue could be banks are creating a big stink if you change the title of the property after you get the loan. In some cases they have clauses in the financing contract stating that the loan is considered due...
  3. imirza

    Financing Question

    REAL ESTATE 
    RealOG - I can get financing. But only up to 70% of the amount I put in. In other words I pay $180k cash for purchase and rehab, the property is worth 250k when done, but the bank will only lend 70% of the 180k . They won't go off appraised value until we have had the property for atleast 2 yrs...
  4. imirza

    Would like some opinions on banking stocks

    HOT! INVESTING 
    GDP numbers out 8:30am an hour before mkt opens. Its going to be bad that's why the market sold off today. Now the question is will the bad news be bought or sold. If buyers come in it'll be a very positive sign.
  5. imirza

    Would like some opinions on banking stocks

    HOT! INVESTING 
    Yes FAZ and FAS move fast. You got to buy small and in increments. Unless you want to trade breakouts and breakdowns though there are so many false ones that you are better averaging in. Break down in the banks today on lower volume than the last few days. It could go either way from here. GDP...
  6. imirza

    Investor websites

    PEOPLE 
    I've tried it though I didn't pay the $59. Its a complete waste of time. 2nd what Steve said. The creator of the site is a MORON. He could have done so much better. That's a great business idea right there. Go ahead and create another online website along the same lines but, something that...
  7. imirza

    Would like some opinions on banking stocks

    HOT! INVESTING 
    Yes that was some crazy stuff today. I got long FAS a few days back in the low $8s. Sold 75% today between $11.50 - $12.30 . Might hold some for a follow through tomorrow or Friday. Not buying SKF here. I did sell some FAZ $40 puts ( 3x financial bear /opposite of FAS) today. I would wait for...
  8. imirza

    Phoenix area Real Estat Market

    REAL ESTATE 
    NODs are through the roof in the Phoenix area. Over 400 NODs being sent out every day. Thats twice more than last year. If this trend continues, foreclosures in the Phoenix area will be double last years. Prices will continue to decrease. Phoenix prices are already back to 2003 levels. An...
  9. imirza

    Apartment Market

    REAL ESTATE 
    I don't know if this is the mark to market issues facing REITS but lets look at a scenario. REIT XYZ has $1 billion in assets and due to current market conditions, these assets are only worth $800 million. XYZ also has short term debt of $800 million secured by those assets and due in 6 months...
  10. imirza

    Would like some opinions on banking stocks

    HOT! INVESTING 
    I cross my fingers when I say this but, today might just be a great time to get long the markets and financial stocks. Place stops below yesterdays lows. The risk reward ratio is in favor of going long. If we do break the lows, I would sell all long positions, wait for a bounce and go short ...
  11. imirza

    Would like some opinions on banking stocks

    HOT! INVESTING 
    Edge - The oversold sectors like financials and the REITS should experience a formidable bounce from here onwards. Patience is the key though. I expect this bounce like the others will not last. If you are selling naked SRS puts, try to get your cost average to around $50. I think SRS will see...
  12. imirza

    Las Vegas Real Estate Market....

    REAL ESTATE 
    I think anyone who is investing in real estate today by looking at the market over the last 20 years and expecting the next 20 to be similar will be in for a nasty surprise. Here is a history of US home prices. We could drop a lot further.
  13. imirza

    Would like some opinions on banking stocks

    HOT! INVESTING 
    RAWR - There were plenty of opportunities to get long today. You could have bought FAS at around $8 several times today. You'd have had a 25% gain by the close. KWERNER - BAC bounced. You might want to sell it tomorrow or perhaps wait. You could get lucky and see it print $10 in a few days. I...
  14. imirza

    Would like some opinions on banking stocks

    HOT! INVESTING 
    kwerner - Sell BOA the first chance you get. I think we might see a bounce either tomorrow or the day after. Ultimately BOA is headed to zero. $2.4 trillion in assets supported by $62 billion in equity. Even a 5% decline in asset prices and BOA is insolvent. Read this article to get a better...
  15. imirza

    Congrats to the Cards

    OFF-TOPIC 
    I was at the game. It truly was unbelievable. Judging by listening to other Card fans before the game, didn't seem like anyone thought we would win this. The crowd noise must have played a factor though. We were so loud every time the Eagles were on offense. My ears are still ringing today from...
  16. imirza

    What a great market to get into investing with!

    REAL ESTATE 
    Before you people get all excited about that 1200 sq ft 3bed home for $197k, read the entire listing. Bids START at $197k. The property is being auctioned. I guarantee that property will end up selling for $300k + . You can't find anything in Laguna Beach/Laguna Niguel for that price.
  17. imirza

    Obama's Infrastructure Plan...

    INVESTING 
    CAT - Caterpillar. Construction equipment JEC - Jacobs Engineering. Engineering, construction, infrastructure projects. FLR - Fluor Corp. Engineering and construction management. FWLT - Foster Wheeler - Engineering , construction. MDR - McDermott International - Engineering and Construction...
  18. imirza

    Lame FHA rule...

    REAL ESTATE 
    My bad. It doesn't have to be after 90 days. We signed a new contract because we had changed something else that had nothing to do with FHA. For some reason I had thought it had to do with FHA. Nevermind.
  19. imirza

    Las Vegas Real Estate Market....

    REAL ESTATE 
    Speaking of the Phoenix RE market, I ran into a bunch of townhouses 1000 sq ft 3/2 selling for $30k that rent for atleast $800 a month. Assoc fees and taxes are $200. So figure $600 net. Thats still a 24% cash on cash return. Funny thing is all these townhouses are investor owned mainly out of...
  20. imirza

    Lame FHA rule...

    REAL ESTATE 
    I ran into that 90 day rule recently too. Sold a property I had bought and rehabbed to an end buyer who used an FHA loan. Had to wait 90 days. Bought the House July 22nd and sold it December 4th. I was able to get the buyer to rent the home from September onwards until they bought it. The new...

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