el jefe reasonable actions on cb

[El Jefe]

Originally Posted by venomous viper

Author: venomous viper
Date: Jul 14, 2008 - 09:28am
Category: Business
Viewed 35 times

The really amusing part? It was a friends-only post, and you doesn't have me on your friends list. This is the first time I saw this particular post.

That's all I'll say on the matter.

[myboynoah]

Originally Posted by venomous viper

Here is the post that got me exed for 100 years.


Author: venomous viper
Date: Jul 14, 2008 - 09:28am
Category: Business
Viewed 35 times

This post is going to try to answer recent boardmails or e-mails I've received in general terms. Some of you already know, I don't address personal questions or situations on board. You may e-mail or call with those specifics. topcancuncondos@hotmail.com or 801-699-1363.Now, answers to your questions

1. Many have asked why I was banned from this board for 2 months and boardmail for 3 months and running. I have no more comments on that currently. If REALLY interested, go to archived messages for venomousviper from 4-01/4-05 of this year. Read ALL the threads, my suspension reasons given by the mods, my appeal etc. Decide for yourself on the justice of this. Remember, mods are witnesses, jury and the judge all rolled into one. Please pay SPECIAL attention to posts in the threads from the following cbers.
a.randal graves
b.cougar jazz fan
c.y fan forever
d chester cobberpot

2. Yes. I'm buying in the 6 southern most counties in MS. Definite benefits.

3.I don't do coaching for money. I provide counseling on the board, by e-mails or phone and have even met personally with some cbers in AZ and TX. I had several phone conversations on sat and 2 more yesterday. If those want to report on conversations, go ahead.

4.What are ways to get my book? I get asked that a lot. No charge, and many cbers' have it. If they want to review it, go for it. I only ask that you first read The Truth About Money by Ric Edelman. It has NOTHING to do with mine, but is an easy, excellent read and a good sylabus on money,imo. He even has a contrarian view to my view on R.E, but thats' ok. Differing views are good. I've even paid the postage. I self published the book and never intended to sell it. It was really written at the same time my wife was completing a fancy family history book for the 6 kids. She wanted me to tell my story to the 6 kids about my background. That was a good idea since when I retired at 29, my oldest child was only 8 yrs old and 2 hadn't been born yet!! It relates experiences of mine in going From Janitor to Multimillionaire, hence the name of the book.

FOX NEWS---- House prices will continue going down for long time. 2-3 years in most areas.Right now at 12;30 eastern they'll discuss more bank failures

5. mystery cber- Thanks for your offer to help on problem with boardmail

6.What are rules of using depr. and limits of amounts of deductions? DISCLAIMER!!! I'm not an acct, but several friends on the list are. They can help me with this. There is a difference in amounts allowed in depr. depending on whether you're involved in business of real estate( builder, realtor, framer, mgr, etc) Basically, those folks have tremendous opportunities to use depr to offset ALL income earned. That is how I pay little or nothing each year. Last year $238, but the govt. gave me an earned income credit of $120, so they got me for $118. If not involved in real estate, the loss is limited to $25K in passive income and disappears as you earn more up to 150 or 160K, I think.

7. I expect to earn income in high 6 figures this year AND pay zero in taxes. Then I'll write another book detailing how I did it and offer it to all the mods that inferred my info was shady. I love it. There are some special areas that have bonus depreciation. This works differently than the normal 27 1/2 year normal rules. It is fantastic and excess depr may be carried forward up to 20 years. If you're "in the business" of real estate(many ways to qualify) not only may you carry forward losses for up to 20 years(all can do that) BUT, you can even go BACK up to 5 years , file an amended return and recapture previous taxes paid!! I have 2 friends I'm working with that each are attempting to recapture well over 100K. Pretty cool, huh? PLEASE, don't try this on your own!! Get an acct AND attorney that actually understand the Gulf Opportunity Act of 2005( go zone). I have several that did it wrong. This act gives you a BONUS depreciation of FIFTY % additional the year you buy, even if it is in dec.... Really cool. That is why I'm in MS for 3 weeks.

8.How do I take advantage of current market? I've received this from several posters. There are more ways to get in trouble, than benefit your portfolio currently. Be ultra careful. There are more areas that are projected to go down for the next 1-3 years, than will increase. There are always pockets of good stuff and some really good areas. I'm bearish on ut, ca,az, fl,nv, wa, and mi. I'm bullish on all texas in most areas, (some areas more than others) MS, (thru at least 12-31-10) some counties more than others. I don't want to be accused of "shady" so, please google go zone, or 50% depr and see for yourself.

Teaser- If you will look REAL hard you may be able to find the MS counties that have a loan forgiveness program. If you meet certian requirements, which anyone can do, you receive $34,500 in secondary financing that carries NO payments and is COMPLETELY forgiven if you own for 5 years minimum..Five property limit per PERSON. Good luck finding it.
I expect a lot more property foreclosures , leading to more properties for sale, more people with bad credit, leading to more renters. They'll have decent income. I see owners that are selling need to use creative financing to sell their homes. Learn about subject to, wraps, and all inclusive deeds and notes. It circumvents the problem of qualifying. CONSULT an ATTORNEY to do this. Like everything else , it needs to be done correctly.
Also to benefit in this market, DON'T fall in love with an investment, make lots of low offers and look for special concessions from seller. Some of you have received info on homes I sell in TX and know there are concessions I give. If interested in more info, just ask. Thanks to those that have purchased discounted properties from me. We're all having fun, aren't we?

Be careful, but remember that history shows more money is made in down markets in both stock market and real estate. Those that do it correctly will win. Income is pretty easy to obtain, real wealth is not because of taxes. We'll take that subject on at another time.

There should be enogh in this post to generate a nice thread. All points of view are welcome, but please keep it civil. This post was meant for "friends". Mike aka venomous viper

-----

Maybe it was the buxom blondes in string bikinis lounging by your pool in the background of your post.

[il Padrino Ute]

Originally Posted by El Jefe

The really amusing part? It was a friends-only post, and you doesn't have me on your friends list. This is the first time I saw this particular post.

That's all I'll say on the matter.

Sounds like Thibious strikes again.

[TripletDaddy]

Originally Posted by il Padrino Ute

Sounds like Thibious strikes again.

Thibbed, for your pleasure.

[jay santos]

Compared to what I've seen others including myself banned for, I don't have much sympathy for you, sorry. Jefe does this stuff. It's his board and he wants it to reflect what he wants it to.

Also, IMHO, you deserved getting banned just for all the crappy financial advice you gave out. Just kidding, mostly.

[il Padrino Ute]

Originally Posted by TripletDaddy

Thibbed, for your pleasure.

And 98% effective.

[CJF]

Not sure how my name got dragged into this. Kind of funny since I try my best to ignore you. Maybe it's the fact that you seem to have OC and post everything about 10 times that I finally had enough and mocked you.

Jefe isn't always perfect, but this time I give him a standing ovation.

[venomous viper]

jefe got his dander up. I guess I was banned for an invisible post. He isn't worth discussing on this board. Let him go back to the one of burgers, movies and iboxes. Little more stimulating discussion on this board. He must've been ticked off that I e-mailed over 200 cbers his actual silly suspension and then posted it here. As someone said earlier, lets let it lie(no pun here).

[Indy Coug]

Originally Posted by venomous viper

jefe got his dander up. I guess I was banned for an invisible post. He isn't worth discussing on this board. Let him go back to the one of burgers, movies and iboxes. Little more stimulating discussion on this board. He must've been ticked off that I e-mailed over 200 cbers his actual silly suspension and then posted it here. As someone said earlier, lets let it lie(no pun here).

Man, you're really weird. Are there good real estate opportunities for people that aren't weird?

[venomous viper]

Originally Posted by Indy Coug

Man, you're really weird. Are there good real estate opportunities for people that aren't weird?

Some think so, at least they're still buying real estate.Thank you cjf(jefe in disguise) for your contrarian view. I thought we were letting this lie. Let it go. It really isn't worth discussing jefe on this board. Other subjects are much more worthwhile.