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  1. imirza

    Yachts as an investment

    ATW - I was referring to the kind of yachts that you could lease out for $500k/week. Somehow I don't see party animal type people like W. Buffett and Bill Gates messing up my yacht. :) Yachts that command upwards of $100k/week and ones that command under $10k/week are in whole...
  2. imirza

    Yachts as an investment

    I was reading a recent issue of Robb Report premier travel issue and was looking at some of their featured vacations. What caught my eye was the lease rates a luxury yacht can command. $500,000/week in one instance for a 250 ft. yacht in the Mediterranean. A luxury yacht like this can be picked...
  3. imirza

    Untold Wealth

    EXECUTION 
    Speed ++ Nice find. Tim Durham is the head of a private equity outfit Obsidian Enterprises.
  4. imirza

    Fix N Flip using a partner question

    REAL ESTATE 
    Thank you all for your responses. Yes I could do this deal myself but I don't have experience in this arena. This rehab/RE guy finds the properties, gets a licensed general contractor to do the work and then proceeds to sell the property on my behalf (he is a RE agent too). So I am trading...
  5. imirza

    Fix N Flip using a partner question

    REAL ESTATE 
    Do you also split the profits ? Is it a straight 50-50 split or does one party get more ? Do you hold title or does the rehabber ? Is there a specific agreement or contract that you would sign or did you have one specially prepared ? The main concern I have is protecting my downside...
  6. imirza

    Fix N Flip using a partner question

    REAL ESTATE 
    But MJ, How would I hold title to the property and charge him interest on the money ? I could front him the money, charge interest and let him keep title but, if something went wrong I would have to foreclose on him which would cost time and money. Correct me if I am wrong. And I don't believe I...
  7. imirza

    Fix N Flip using a partner question

    REAL ESTATE 
    The cash is coming from me.
  8. imirza

    Fix N Flip using a partner question

    REAL ESTATE 
    I was wondering if anyone could offer some advice on the following situation. There is an experienced rehab/real estate guy that I know who fixes and flips properties. He has a fairly good track record doing atleast 1 a month. We are currently negotiating an arrangement where I provide him...
  9. imirza

    Reco on good restaurants in Phoenix?

    OFF-TOPIC 
    Try Elements . Go around sunset. Amazing views. The food is pretty good too. Pizzeria Bianco - Rated the best pizza in the US. Head to Donovans if you like steak. For other restaurants try looking on www.yelp.com . The weather here in Phoenix is really really really hot. 110 degrees...
  10. imirza

    What's Everyone Holding?

    INVESTING 
    Dennis, Yeah Mid March through early May were rough for the ultra inverse ETFs. With SKF and SRS I sold off a lot in mid to late March while writing puts against them at lower strike prices. I also sold covered calls to protect my profits in the ones I still held. So I ended up with a lot of...
  11. imirza

    What's Everyone Holding?

    INVESTING 
    Until today my largest position was short financials via SKF. Lately it appears to me that everyone is on the short financial bandwagon and I prefer to be contrarian so I sold 75% of my SKF holdings. I've also sold most of my short LEH position. Currently my largest positions in order SRS -...
  12. imirza

    Nice article about the Super-Rich

    They're the new elite, whose vast wealth is changing the social fabric of Britain. Yet to most of us, the super-rich remain a mystery. Just how different are their lives to ours? Are they happy? And how would they feel if they lost it all tomorrow? Here, seven tycoons tell all...
  13. imirza

    ECommerce Development Anyone?

    WEB/DIGITAL 
    NoMoney Down, the site you are thinking about is www.elance.com I highly recommend this site to anyone. I've had some web site and other projects done using elance and the results were great.
  14. imirza

    Are we in a BUBBLE? Asking the right Q's . . .

    Liquidity is a major reason for the run up in oil. The Fed started cutting the discount rate August 17th 2007 Followed by the Fund Rate a month later. The Fed rate has dropped from 5.25% to 2% over the last 9 months. In the same period the price of oil has doubled. Cutting rates to increase...
  15. imirza

    Question about mortgage broker fees.

    REAL ESTATE 
    Incorrect. All fees the broker gets from the lender are on the GFE. Its illegal not to disclose payments from the lender to the broker. Other then that everything else you wrote is correct. Brokers usually make their money via the yield spread premium YSP. The lender offers a wholesale rate of...
  16. imirza

    Home Equity Loan

    REAL ESTATE 
    95% LTV HELOCs do not exist in todays market. The max. I have seen is 85%. You would need full documentation to get a HELOC. If you do find a bank willing to give a 95% HELOC let me know so I can short the stock :)
  17. imirza

    Living Rich VS. Delaying Gratification

    HOT! MINDSET 
    Getting rich is all about enjoying the journey. If you are going to keep your self miserable for 10 + years or however long it takes to become rich, whats the point ? I believe in delayed gratification but only to a certain point. I don't want to be in a situation where I am so frugal that I...
  18. imirza

    Financing with little or no personal money

    In this case the bank will be giving you a loan for less than 50% of the purchase price. I do not see a problem with that. As long as the bank is in 1st position their risk is limited. Try contacting banks and working around different scenarios.
  19. imirza

    Longevity Calculator

    OFF-TOPIC 
    I'm 19.1 and I'll live to 82. Hmmmm.... I'll take that :)
  20. imirza

    Financing with little or no personal money

    Get an experienced business partner with a proven track record. Find someone who has already achieved a great deal of success in the line of business that you are trying to purchase, contact them and see if you can work together. Find someone who is retired that way they would have time to...

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