"4 weeks and then all hell breaks loose"

NEW -> Contingent Buyer Assistance Program
This still avoids the point... the OP on that thread asked for advice... should he buy TWO $150k properties in Irvine and rent them out for $1400. Once we determined what type of houses go for $150k in Tustin, if there were actually available, looking at comparable rentals of not just condos but apartments which range from $1000 to $1300 ($1400 is rare although an MLS of past rentals in that area could probably shed more light on this) and also taking into account the neighborhood... the majority of us did not recommend it.



You stated:

<blockquote>

These comments have no basis in reality. Tustin rents range from $1,200 to $2,800 for 2-3 bedrooms and there are many units that have sold at (and below) $150,000. <strong>It?s a fact that a $150,000 condo rents for around $1,500.</strong>

</blockquote>
Of course you later changed the $1500 to $1400 to make your argument not look so bad and once all the data was presented you had to retreat to some 10x multiplier and low inventory to get you out of the mess you created. That's the thing, if you're going to come in criticizing everyone else's opinions and state yours as <strong>fact</strong>, you should be armed a little better.



Just swallow your "humble pill" admit you may have overstated your opinion and move on. I doubt you would would buy TWO $150k properties in that area and try to rent them for $1400 (much less even find them) so like everyone else, you probably wouldn't recommend it to the OP.



It's okay to be wrong on the Internet... really. We won't tell your friends.
 
Here's an example of his description writing prowess:



"Last lease in this building lasted only 9 days, better hurry! Amazing 2 bedroom 2 bath home in the heart of Costa Mesa. Recently remodeled with new laminent wood floors, carpet, and paint. nice family room, and inside laundry with washer and dryer, In addition, stainless steal applicanse and a fantasic private patio in addition to an amazing shared patio with BBQ. The lease includes 1 car port and one other assigned parking space. Close to schools, shopping, parks with a third parking space possible. Lease includes gardner and water. This will not last-- great lease opportunity. Evergreen Realty."



hurry?



laminent?



steal?



applicanse?



give me a some puctuation, any puncuation will do



car port?



gardner?



He would be skewered from here to kindgom-come on the main blog. Instead, he is the "recommended realtor". Hypocrites, (most) all of you.
 
[quote author="No_Such_Reality" date=1252286163][quote author="RoLar_USC" date=1252285028][quote author="no_vaseline" date=1252277583][quote author="RoLar_USC" date=1252193950][quote author="no_vaseline" date=1252191788][quote author="RoLar_USC" date=1252162843][quote author="No_Such_Reality" date=1252142393][quote author="RoLar_USC" date=1252140494][quote author="bltserv" date=1252122491]Hey Skipper.



You ever spend any time in that part of Tustin along Mitchell ?

I worked for an electronics company on Franklin and Walnut for many years.

That area is plain dangerous. Just going to lunch on Redhill or Newport in that little Barrio

in the middle of the day is daunting. Unless your Latino. Your going to stick out like a sore thumb

living in that area. Using it as an example is inaccurate to the discussion IMO.</blockquote>


It's an investment situation, you never have to live there. How about those little condos/apartments in SJC that go for 100-120K and rent for 1200-1400/month?</blockquote>


First rule of landlord investing. Never buy a place you aren't willing to live in.</blockquote>


Tell that to anyone who wouldn't live in anything except a SFR and but still invests in condos, duplex, triplex, fourplex, etc... </blockquote>


I can think of a lot of SFR's I wouldn't live in, and rent a SFR. Nice false analogy.</blockquote>


umm.... I don't think u understood... try re-reading</blockquote>


You made a false analogy, Binky. Here is is again, with more clarity.



<em>Tell that to anyone who <strong>isn?t a cross dresser</strong> and won?t wear anything except <strong>Brooks Brothers suits</strong> and but still invests in <strong>women?s clothing designers and retailers</strong>...</em>



Do you know anyone who actively owns and manages his or her own rental properties? Two users of this board have such cred, one live in a SFR, one in an IAC unit, and both and are saying you don't know what the hell you're talking about.</blockquote>


I can't help but just laugh at you...



Haha, yes. I know plenty of people who actively own and manage their own rental properties. Do you, besides the TWO people on this forum? If that's the number one rule, then cash flow must not be as important. Let me know the next income property you pass on because you wouldn't live there, even though it would give an amazing return.</blockquote>


It's the first rule for really basic reasons. It's the difference between inadvertant slumlords and landlords.



It applies to new investors and not seasoned multi-unit owners and landlords. The scenario you describe for a rookie landlord results in slumlords and horrible investments. You need to know the area, clients and housing to make the investment work. Seasoned investment property people can take the property you highlighted and make it work. A first time investor, if they don't consider it a liveable property and area will have horrid results diving into it.



Seasoned investors walk a thin line between appropriate properties for the target market and slum.</blockquote>


I can see that. That was a good explanation.
 
[quote author="bltserv" date=1252286781][quote author="NewportSkipper" date=1252285707]Shevy Akason works with professional investors. Those investors own propeties on Orange Street in Lake Forest. That community is no different than any in Santa Ana or San Juan Capistrano.</blockquote>


That area is mostly Mobil Homes as I recall. There are a few apartments next to the Lake Forest golf course. I play once in awhile with my son there.

BIG difference in that area and Santa Ana and SJC. Its called Crime and Gangs. This island of area is Latino and low income.

But its not Drug and Gang infested. You dont see the Swat Team on a weekly basis.



So your a friend of Shevy ?</blockquote>


Were you the guy criticising my spelling?
 
[quote author="irvine_home_owner" date=1252286786]This still avoids the point... the OP on that thread asked for advice... should he buy TWO $150k properties in Irvine and rent them out for $1400. Once we determined what type of houses go for $150k in Tustin, if there were actually available, looking at comparable rentals of not just condos but apartments which range from $1000 to $1300 ($1400 is rare although an MLS of past rentals in that area could probably shed more light on this) and also taking into account the neighborhood... the majority of us did not recommend it.



You stated:

<blockquote>

These comments have no basis in reality. Tustin rents range from $1,200 to $2,800 for 2-3 bedrooms and there are many units that have sold at (and below) $150,000. <strong>It?s a fact that a $150,000 condo rents for around $1,500.</strong>

</blockquote>
Of course you later changed the $1500 to $1400 to make your argument not look so bad and once all the data was presented you had to retreat to some 10x multiplier and low inventory to get you out of the mess you created. That's the thing, if you're going to come in criticizing everyone else's opinions and state yours as <strong>fact</strong>, you should be armed a little better.



Just swallow your "humble pill" admit you may have overstated your opinion and move on. I doubt you would would buy TWO $150k properties in that area and try to rent them for $1400 (much less even find them) so like everyone else, you probably wouldn't recommend it to the OP.



It's okay to be wrong on the Internet... really. We won't tell your friends.</blockquote>


Back the hell up. I proved my point beyond question. Stop talking in circles. And stop daydreaming while you're at it. The facts (in fact, provided my me) surfaced long after my comment shown here. There was nothing but trash-talk up until then.
 
[quote author="NewportSkipper" date=1252287035][quote author="bltserv" date=1252286781][quote author="NewportSkipper" date=1252285707]Shevy Akason works with professional investors. Those investors own propeties on Orange Street in Lake Forest. That community is no different than any in Santa Ana or San Juan Capistrano.</blockquote>


That area is mostly Mobil Homes as I recall. There are a few apartments next to the Lake Forest golf course. I play once in awhile with my son there.

BIG difference in that area and Santa Ana and SJC. Its called Crime and Gangs. This island of area is Latino and low income.

But its not Drug and Gang infested. You dont see the Swat Team on a weekly basis.



So your a friend of Shevy ?</blockquote>


Were you the guy criticising my spelling?</blockquote>


No I was critical of your facts and weird rambling style of making a point.

You claim all these facts yet your backup is very weak and is not first hand knowledge.



You seem to know something of Modifications but little of rental property investments.

You are going to be a failed slumloard with negative cashflow very quicly IMO with your property selections.

If it was so easy more people would be doing it. But with a market in Chaos. This is limited to true seasoned professionals.

And Skippy. You are not one of them.
 
[quote author="NewportSkipper" date=1252286808]

He would be skewered from here to kindgom-come on the main blog. Instead, he is the "recommended realtor". Hypocrites, (most) all of you.</blockquote>


Dude, trust me...that point has already been made, and I hope you don't think he is recommended by "(most) all of" us.



Besides that...um...change of subject much? What does Sexy Shevy have to do with anything?
 
[quote author="RoLar_USC" date=1252285028] Do you, besides the TWO people on this forum? </blockquote>


Several, but they don't participate here, so I won't be so presumptuous as to speak for them. Some are even 'slumlords'. Ironically, they also live in similar housing I would describe as a 'slum'. I don't presume them to be 'standard'. Just successful.



If you laugh at me, that's great. As somebody who actually finished his MBA coursework, I always love it when pretenders like yourself make fun of those who can, when it's obvious you can't - simply because you felt obligated to lie about it when the truth would have sufficed.
 
[quote author="NewportSkipper" date=1252286808]Here's an example of his description writing prowess:



"Last lease in this building lasted only 9 days, better hurry! Amazing 2 bedroom 2 bath home in the heart of Costa Mesa. Recently remodeled with new laminent wood floors, carpet, and paint. nice family room, and inside laundry with washer and dryer, In addition, stainless steal applicanse and a fantasic private patio in addition to an amazing shared patio with BBQ. The lease includes 1 car port and one other assigned parking space. Close to schools, shopping, parks with a third parking space possible. Lease includes gardner and water. This will not last-- great lease opportunity. Evergreen Realty."



hurry?



laminent?



steal?



applicanse?



give me a some puctuation, any puncuation will do



car port?



gardner?



He would be skewered from here to kindgom-come on the main blog. Instead, he is the "recommended realtor". Hypocrites, (most) all of you.</blockquote>


Ummm... this is where the search button comes in really handy. I for one am not a hypocrite, nor are many... many others here, who would never even think of recommending Shevy.



And... did you purposely spell "kingdom" incorrectly? If not... pot... meet... kettle.
 
[quote author="bltserv" date=1252287806][quote author="NewportSkipper" date=1252287035][quote author="bltserv" date=1252286781][quote author="NewportSkipper" date=1252285707]Shevy Akason works with professional investors. Those investors own propeties on Orange Street in Lake Forest. That community is no different than any in Santa Ana or San Juan Capistrano.</blockquote>


That area is mostly Mobil Homes as I recall. There are a few apartments next to the Lake Forest golf course. I play once in awhile with my son there.

BIG difference in that area and Santa Ana and SJC. Its called Crime and Gangs. This island of area is Latino and low income.

But its not Drug and Gang infested. You dont see the Swat Team on a weekly basis.



So your a friend of Shevy ?</blockquote>


Were you the guy criticising my spelling?</blockquote>


No I was critical of your facts and weird rambling style of making a point.

You claim all these facts yet your backup is very weak and is not first hand knowledge.



You seem to know something of Modifications but little of rental property investments.

You are going to be a failed slumloard with negative cashflow very quicly IMO with your property selections.

If it was so easy more people would be doing it. But with a market in Chaos. This is limited to true seasoned professionals.

And Skippy. You are not one of them.</blockquote>


Nor do I care to be. I added loads of solid data and it was completely disregarded. That's your problem, not mine.
 
[quote author="NewportSkipper" date=1252287261]

Back the hell up.

</blockquote>
Are you feeling threatened? It's just words on the computer... no one is "up" on you.

<blockquote>

I proved my point beyond question.

</blockquote>
If so, why are there still so many questions? The only thing you proved was that you were ill-informed and did not know the area in question very well... while most of us did.

<blockquote>

Stop talking in circles. And stop daydreaming while you're at it.

</blockquote>
The kind of response from someone who cannot refute the statements being made.

<blockquote>

The facts (in fact, provided my me) surfaced long after my comment shown here. There was nothing but trash-talk up until then.</blockquote>
Nice edit, but you didn't prove anything of use to the original poster. Our contention was that there were not $150k investment properties available that could rent easily for $1400. You jumped in without taking into account that he wanted TWO properties and that the particular area is not really a good place to invest for someone new. You backpedaled stating that the poster wasn't asking if the properties were available which is not a very good way to argue your point considering the places should be available for us to assess.



Let's bring it back down to pure data then since you're the expert:



Find TWO available (that means "Active") Tustin properties that a new investor can easily buy for $150k and rent out for $1400 (you said $1500 but I'll give you a pass).



Then I'll "back the hell up" (don't be so scared... I'm uglier in person).
 
[quote author="caycifish" date=1252287927][quote author="NewportSkipper" date=1252286808]

He would be skewered from here to kindgom-come on the main blog. Instead, he is the "recommended realtor". Hypocrites, (most) all of you.</blockquote>


Dude, trust me...that point has already been made, and I hope you don't think he is recommended by "(most) all of" us.



Besides that...um...change of subject much? What does Sexy Shevy have to do with anything?</blockquote>


Sorry, I just got sidetracked when I saw that. The fact is, he and his clients are active in some of the same types of properties criticized here.
 
[quote author="graphrix" date=1252288072][quote author="NewportSkipper" date=1252286808]Here's an example of his description writing prowess:



"Last lease in this building lasted only 9 days, better hurry! Amazing 2 bedroom 2 bath home in the heart of Costa Mesa. Recently remodeled with new laminent wood floors, carpet, and paint. nice family room, and inside laundry with washer and dryer, In addition, stainless steal applicanse and a fantasic private patio in addition to an amazing shared patio with BBQ. The lease includes 1 car port and one other assigned parking space. Close to schools, shopping, parks with a third parking space possible. Lease includes gardner and water. This will not last-- great lease opportunity. Evergreen Realty."



hurry?



laminent?



steal?



applicanse?



give me a some puctuation, any puncuation will do



car port?



gardner?



He would be skewered from here to kindgom-come on the main blog. Instead, he is the "recommended realtor". Hypocrites, (most) all of you.</blockquote>


Ummm... this is where the search button comes in really handy. I for one am not a hypocrite, nor are many... many others here, who would never even think of recommending Shevy.



And... did you purposely spell "kingdom" incorrectly? If not... pot... meet... kettle.</blockquote>


No, not on purpose. I make typos now and then. No one is paying for them.
 
[quote author="NewportSkipper" date=1252288247][quote author="caycifish" date=1252287927][quote author="NewportSkipper" date=1252286808]

He would be skewered from here to kindgom-come on the main blog. Instead, he is the "recommended realtor". Hypocrites, (most) all of you.</blockquote>


Dude, trust me...that point has already been made, and I hope you don't think he is recommended by "(most) all of" us.



Besides that...um...change of subject much? What does Sexy Shevy have to do with anything?</blockquote>


Sorry, I just got sidetracked when I saw that. The fact is, he and his clients are active in some of the same types of properties criticized here.</blockquote>
As cayci said... the "fact is" most of us don't really know him so trying to use him as support for buying those types of properties is weak. Just because it shows him as the "Recommended Realtor" on the blog, doesn't mean he is on the forums.



But that's what you get for assuming... nice trend there.
 
[quote author="irvine_home_owner" date=1252288186][quote author="NewportSkipper" date=1252287261]

Back the hell up.

</blockquote>
Are you feeling threatened? It's just words on the computer... no one is "up" on you.

<blockquote>

I proved my point beyond question.

</blockquote>
If so, why are there still so many questions? The only thing you proved was that you were ill-informed and did not know the area in question very well... while most of us did.

<blockquote>

Stop talking in circles. And stop daydreaming while you're at it.

</blockquote>
The kind of response from someone who cannot refute the statements being made.

<blockquote>

The facts (in fact, provided my me) surfaced long after my comment shown here. There was nothing but trash-talk up until then.</blockquote>
Nice edit, but you didn't prove anything of use to the original poster. Our contention was that there were not $150k investment properties available that could rent easily for $1400. You jumped in without taking into account that he wanted TWO properties and that the particular area is not really a good place to invest for someone new. You backpedaled stating that the poster wasn't asking if the properties were available which is not a very good way to argue your point considering the places should be available for us to assess.



Let's bring it back down to pure data then since you're the expert:



Find TWO available (that means "Active") Tustin properties that a new investor can easily buy for $150k and rent out for $1400 (you said $1500 but I'll give you a pass).



Then I'll "back the hell up" (don't be so scared... I'm uglier in person).</blockquote>




I couldn't possibly disagree with you more about the OP's question. Maybe I am truly alone on this, but I took it as the options being a given. If I am in the wilderness in this belief, then I apologize.
 
[quote author="NewportSkipper" date=1252288247][quote author="caycifish" date=1252287927][quote author="NewportSkipper" date=1252286808]

He would be skewered from here to kindgom-come on the main blog. Instead, he is the "recommended realtor". Hypocrites, (most) all of you.</blockquote>


Dude, trust me...that point has already been made, and I hope you don't think he is recommended by "(most) all of" us.



Besides that...um...change of subject much? What does Sexy Shevy have to do with anything?</blockquote>


Sorry, I just got sidetracked when I saw that. The fact is, he and his clients are active in some of the same types of properties criticized here.</blockquote>


And it is a shame that he doesn't have the balls to show up here and contribute, especially if he has specific market knowledge. You are correct in that he would be skewered, and what usually happens is that the real estate folks who survive (and contribute) tend to pick up new business. His loss.



As an aside, did you do a search for the word "drama" and bring up Shevy on purpose?
 
[quote author="awgee" date=1252285085]

Replace the Fed with the free market.</blockquote>


Tune in next week for:



<em>There is no such thing, but thanks for playing.</em>



or



<em>Yeah! With a monstrous regulatory arm to keep that ?free market? in line (so what just happened to the banks/shadow banks doesn't happen on a larger scale) that looks suspiciously like....The Fed.</em>



Theoretically, I agree with you. From a functional standpoint, I wholly disagree because there is no mechanism to keep people from gaming the system for their personal benefit and somebody else?s determent. The free market, sir, ain?t free. Or fair.



Maybe we should stop hijacking this thread and get back on topic: that is, talking about how Robert Larsen, Realtor has issues with telling the truth while drumming up business on anonymous internet forums, and likewise, potential clients should be aware he may not always be truthful with them in the real world.



I would talk about Skippy the Liar but he ceased to exist a couple of days ago thanks to modern technology.
 
no_vas, this is what got zovall riled up last time. Let's not invite the proverbial <strong>ZOT!</strong> by dredging up the freely available public information anyone else can google on their own.
 
[quote author="Nude" date=1252292009]no_vas, this is what got zovall riled up last time. Let's not invite the proverbial <strong>ZOT!</strong> by dredging up the freely available public information anyone else can google on their own.</blockquote>


You?re referring to Got Milk? who also famously said I have nothing to hide. My answer is then and is now the same: Why not? It's not like I'm making it up - here he is in his own words, with cites (something Skippy the Liar can't provide when he?s trying to make a point):



<a href="http://www.irvinehousingblog.com/forums/viewthread/5749/P25/#120704">http://www.irvinehousingblog.com/forums/viewthread/5749/P25/#120704</a>



[quote author="RoLar_USC" date=1249458466]Follow my blog for up-to-date analysis: http://occoastalnews.com</blockquote>


<a href="http://www.irvinehousingblog.com/forums/viewthread/5749/P25/#120870">http://www.irvinehousingblog.com/forums/viewthread/5749/P25/#120870</a>



Socal78 asked about his background. He replied:



[quote author="RoLar_USC" date=1249522600]Feel free to ask, <strong>it's not something that I'm trying to hide obviously</strong>. I'm <strong>25</strong>, and I've had my license a mere 2 years, but I've been in the industry for about 6 years, minus a year break when I worked as a financial analyst. I graduated from the University of Southern California with a Real Estate Finance degree and <strong>I'm pursuing my MBA at UCI with an emphasis on Real Estate Analysis</strong>. <strong>My only experience with past real estate cycles has come from text, and personal discussions. I don't think of it as a handicap at all</strong>, especially in today's current market, because the circumstances today are different than any other cycle and just as everyone else, I'm experiencing this real estate cycle for the first time.. It's actually very gratifying to be 10-15 years younger than the average age of my co-workers and classmates.</blockquote>


Note those bold points.



"Only" two years? First lie.



[quote author="graphrix" date=1249527363]Really... two years... <a href="http://www2.dre.ca.gov/PublicASP/pplinfo.asp?License_id=01852067">because that is not what it says here</a>. I know the DRE discloses that it is not an official record, but I have found that the DRE site has been highly accurate since it began the online license database/look up feature. You're not starting off on the right foot, Robert, with misleading information like this. Especially with misleading our den mother SoCal78. </blockquote>


<a href="http://www.irvinehousingblog.com/forums/viewthread/5749/P25/#120887">http://www.irvinehousingblog.com/forums/viewthread/5749/P25/#120887</a>



Pursuing his MBA eh? Second lie.



[quote author="Mcdonna1980" date=1249528144]And.... I asked hubby, whom is also in the UCI MBA program, if he knew you. Said he could not find you in any of the current student or alumni directories. Lucy, you have some explaining to do!</blockquote>


<a href="http://www.irvinehousingblog.com/forums/viewthread/5749/P25/#120891">http://www.irvinehousingblog.com/forums/viewthread/5749/P25/#120891</a>



When discovered with his d*ck out, he turned to the ever-popular weapon of unwarrented personal attacks (and then turned douche by deleting it):



[quote author="RobertLarsen" date=1249528582]Read again little house wivey...</blockquote>


25, hopelessly full of hubris, and lacking experience in a down market. Check, check, check.



Since then, the value of his participation has went downhill (!), raising the noise and lowering signal here on the IHB. I'm just taking this opportunity to point out I'm not needlessly hating on him, but because Robert Larsen the Realtor has proved himself to be untrustworthy, a habitual exaggerator, a cherry picker of data, have issues with the truth, not the least bit remorseful for willfully misleading the IHB, and doing what it takes to advance his station in life at the expense of others. In short, if you come here, schlep for business by ?outing yourself?, claim you have ?nothing to hide? and then LIE and LIE ABOUT LYING, why shouldn?t I go Got Milk on you? I?m not attacking his character, he did it to himself.



I think Zoval would be angry with me if I make a baseless personal attack on him for being a standard issue worthless USC grad, but I wouldn't do that because it would sully the memory of one of my best friends from high school who attended USC, graduated in engineering and the swim team for four years, and later gave his life in service for our country. I'm sure Zoval won't like this post one bit, but the truth is what the truth is, and the truth is this guy is 1) a realtor trying to advance himself at the expense of others and 2) willing to lie to do so. I realize I'm begging the question here, but what else will Robert Larsen lie about before he fails and changes careers?
 
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