Does anyone ever read IHB anymore?

NEW -> Contingent Buyer Assistance Program
shokunin said:
OCAR is just angry because someone is telling the truth about them. 

Come on OCAR all you need to do is visit any of the open houses during the weekend.  Some Realtors are very good and do not spin a bunch of BS about the house.  But every now and then you get a Realtor who's spinning an epic about the house, the premium, top-of-the-line, designer, gourmet, custom, it's priced to sell, and under market value that you'll want to vomit on the way out.
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Oh man, you should have heard what the Ladera Ranch agent was saying to a couple who came without an agent.  I had to try to keep from laughing (my buyers didn't know why until I told them after we went outside).  I really do wish there was a more comprehensive application process to become a realtor because there's a lot of realtors out there that are doing more harm than good.
 
Starlight East said:
Well, someone is still reading the IHB.

"The Orange County Association of Realtors has filed a grievance against an Irvine real estate broker who writes a blog that takes critical looks at the housing crash, homebuyers and real estate agents."
http://irvinehomes.ocregister.com/2...mplain-about-blogger-who-says-they-lie/18073/
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Un-F'n believable.

I think USC and IR have put their differences aside and gone on a united front on a legal battle against IHB.

Next thing you know Indie, NON-FCB and IHO are going to disneyland together.

What's the world coming to?
 
Is anyone from TI going to the IHB meetup on Sept. 12? I read they had 29 people attend their last presentation / get-together.
 
SoCal78 said:
Is anyone from TI going to the IHB meetup on Sept. 12? I read they had 29 people attend their last presentation / get-together.
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I didnt see this thread when originally posted so a quick answer to the original post.  I do read IHB every day and comment a couple times a week there.  Some of the posts are repetitive but its hard to create completely new content on a daily basis.  I think the data posts are amazing and I know IHO has linked them back to here but not sure if everyone really checks those out.  It is worth checking out and is very valuable for anyone interested in RE in Irvine and OC.

As to Sept 12 meeting, I think I will go.  I am invested in the LV fund and am interested in owning some cashflow properties in LV.  People have commented already that there is very real risk that LV could suffer further and with high unemployment, many vacant properties, and continued pressure on prices, its easy to have a rental sitting empty for long periods of time.  That being said, I dont believe LV will go out of fashion in the next 10+ years and we can discuss that further.  Frankly I can never seem to pick stocks well and figure buying multiple rentals in various regions should create some buffer for ups and downs.  I am also looking at Riverside, Tustin, Indianapolis and Cleveland for cashflow properties. 
 
I might attend Sept 12.

Not sure if I'll say who I am because some of them might want to UFC me... although Larry knows me already.
 
I've been thinking about going because I plan to keep an eye on local real estate in the coming years. However, I don't think I'm interested enough to go solo, especially since it's a busy weeknight. I might go if I had a friend come. I've asked Cubic Zirconia if she wants to go with me, so we'll see. Maybe so, maybe no. Unfortunately, I don't think I blend into a crowd well (especially this type of crowd) so if I'm there, you'll know.  If anyone else is there that I know, do come say hello since you will know me but I won't know you. We'll see, though. I wish it wasn't a hectic weekday.
 
irvinehomeowner said:
I might attend Sept 12.

Not sure if I'll say who I am because some of them might want to UFC me... although Larry knows me already.
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I'm starting to wonder if you're a well-known person (celebrity?) and that's why you don't want to be recognized. Like the Loch Ness monster, sightings of the elusive IHO are extremely rare. If I go, I'll be sure to ask every wallflower I see: "Are you IHO?" If you sprint out of the room, I'll know it was indeed you.
 
Total opposite.

Trying to remain as anonymous as possible... but it's hard to do so when you stick out (and that's due to size and ugliness... not fame).
 
irvinehomeowner said:
I might attend Sept 12.

Not sure if I'll say who I am because some of them might want to UFC me... although Larry knows me already.
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should be easy enough to spot you.  you will be the person asking about LV 3CWG cashflow properties...
 
irvinehomeowner said:
I might attend Sept 12.

Not sure if I'll say who I am because some of them might want to UFC me... although Larry knows me already.
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I'm going to attend and hide in the corner, in a disguise, just so I can see the elusive IHO. Based on his self-description, I will be looking for a guy who is 7 feet tall and 400lbs, with a face covered with boils, warts, and huge hairy moles.
 
traceimage said:
I will be looking for a guy who is 7 feet tall and 400lbs, with a face covered with boils, warts, and huge hairy moles.
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Did I give you access to my Flickr account?

No boils though... and no comment on the hairy moles.
 
@rkp:

I believe you mentioned your are a SuperFund investor, are you allowed to talk about it?

From what I remember, it was initially a flip fund where IR bought homes locally and then flipped them for a profit. I think he's moved that to Las Vegas and has started a second fund that is purely cash flow where he buys homes and rents them out.
 
irvinehomeowner said:
@rkp:

I believe you mentioned your are a SuperFund investor, are you allowed to talk about it?

From what I remember, it was initially a flip fund where IR bought homes locally and then flipped them for a profit. I think he's moved that to Las Vegas and has started a second fund that is purely cash flow where he buys homes and rents them out.
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Yes it is a flip fund where IR buys homes, rehabs, and then flips for profit.  Las Vegas was always the market he described for the fund, at least by the time I became interested.  The fund isnt closed to other markets but the initial focus was Las Vegas so he really never moved it as it always started there. 

The second fund will most likely buy houses from the first fund and additional houses as well.  The second fund is much like a REIT - at least thats the way I see it.  For me, investing the second fund is kind of like paying myself as I am in the first fund. 

He is pretty open about initial challenges and learnings but he will maintain both funds moving forward.  I dont think there is anything I really cant talk about.  IR himself is so open about it.
 
I believe when he first started the SuperFund, it was local OC homes they were flipping, the Las Vegas investments came soon after but I don't think they were the initial target (especially considering that not many were as bullish as he was when he first started talking about the Las Vegas RE market). There is a reason why he has to talk up the validity of LV investing nowadays.

I was just wondering if he plans to stay active on the first since his posts seem to indicate he's moving into the cash flow investments via renting out the homes instead of flipping them.

Is the estimated return on SF2 supposed to be better than SF1?

 
rkp said:
irvinehomeowner said:
@rkp:

I believe you mentioned your are a SuperFund investor, are you allowed to talk about it?

From what I remember, it was initially a flip fund where IR bought homes locally and then flipped them for a profit. I think he's moved that to Las Vegas and has started a second fund that is purely cash flow where he buys homes and rents them out.
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Yes it is a flip fund where IR buys homes, rehabs, and then flips for profit.  Las Vegas was always the market he described for the fund, at least by the time I became interested.  The fund isnt closed to other markets but the initial focus was Las Vegas so he really never moved it as it always started there. 

The second fund will most likely buy houses from the first fund and additional houses as well.  The second fund is much like a REIT - at least thats the way I see it.  For me, investing the second fund is kind of like paying myself as I am in the first fund. 

He is pretty open about initial challenges and learnings but he will maintain both funds moving forward.  I dont think there is anything I really cant talk about.  IR himself is so open about it.
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How confident are you that he understands the Las Vegas market?  I lived and worked in Vegas for two years and go to know the town very well (used to work in banking on the real estate side).  Numbers are numbers and real estate basics are the same for the most part, but I wouldn't invest with someone who I didn't feel had a great understanding of the dynamics of the region where that person wanted to invest in.  Understanding the location positives and negatives in Las Vegas is as important as crunching the numbers. 
 
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