Comments on: What really goes on with Black-matter SIVs. A Micro-case study. My Experience with Prosper and how it is Similar to the Current Mortgage Debacle. http://www.doctorhousingbubble.com/what-really-goes-on-with-black-matter-sivs-a-micro-case-study-my-experience-with-prosper-and-how-it-is-similar-to-the-current-mortgage-debacle/ How I Learned to Love Southern California and Forget the Housing Bubble Sun, 12 Oct 2008 19:54:00 +0000 http://wordpress.org/?v=2.2.2 By: The Property Pundit http://www.doctorhousingbubble.com/what-really-goes-on-with-black-matter-sivs-a-micro-case-study-my-experience-with-prosper-and-how-it-is-similar-to-the-current-mortgage-debacle/#comment-2599 The Property Pundit Wed, 31 Oct 2007 06:52:08 +0000 http://www.doctorhousingbubble.com/what-really-goes-on-with-black-matter-sivs-a-micro-case-study-my-experience-with-prosper-and-how-it-is-similar-to-the-current-mortgage-debacle/#comment-2599 Doc- I'm glad to see you know of Prosper. I've been a member for a year and half and have done very well. My "secret" is only loaning to people who don't have any current delinquencies, and less than one in the last seven years. No matter what they're credit score is, the best way to judge people is on their past behavior. The other thing is to keep your investment there reasonable. I only have about $2,000, but am making 16% after defaults (one). I agree, there are many similarities to the current credit debacle. It really comes down to greed in a lot of cases. Doc- I’m glad to see you know of Prosper. I’ve been a member for a year and half and have done very well. My “secret” is only loaning to people who don’t have any current delinquencies, and less than one in the last seven years. No matter what they’re credit score is, the best way to judge people is on their past behavior. The other thing is to keep your investment there reasonable. I only have about $2,000, but am making 16% after defaults (one).

I agree, there are many similarities to the current credit debacle. It really comes down to greed in a lot of cases.

]]> By: rick http://www.doctorhousingbubble.com/what-really-goes-on-with-black-matter-sivs-a-micro-case-study-my-experience-with-prosper-and-how-it-is-similar-to-the-current-mortgage-debacle/#comment-2576 rick Mon, 29 Oct 2007 19:39:00 +0000 http://www.doctorhousingbubble.com/what-really-goes-on-with-black-matter-sivs-a-micro-case-study-my-experience-with-prosper-and-how-it-is-similar-to-the-current-mortgage-debacle/#comment-2576 This richdad dude is certainly not the richdad who's written the book. In fact the author's opinion is that we are in so much trouble and there is no much worth considering in the insane market, you'd better keep more cash and wait for the people like the 411 like pretenders lose out on his negative cash flow and buy his property for much less. Just go read his yahoo finance comments. Rock on my friend 411. This richdad dude is certainly not the richdad who’s written the book.

In fact the author’s opinion is that we are in so much trouble and there is no much worth considering in the insane market, you’d better keep more cash and wait for the people like the 411 like pretenders lose out on his negative cash flow and buy his property for much less. Just go read his yahoo finance comments.

Rock on my friend 411.

]]> By: Baghead http://www.doctorhousingbubble.com/what-really-goes-on-with-black-matter-sivs-a-micro-case-study-my-experience-with-prosper-and-how-it-is-similar-to-the-current-mortgage-debacle/#comment-2566 Baghead Sun, 28 Oct 2007 05:41:49 +0000 http://www.doctorhousingbubble.com/what-really-goes-on-with-black-matter-sivs-a-micro-case-study-my-experience-with-prosper-and-how-it-is-similar-to-the-current-mortgage-debacle/#comment-2566 Incredible that lenders are still being so selfish about the whole thing. But then everyone is... I just got a Real Estate Professional that has been specializing in Short Sales since the 1970s to do a 70 minute Audio Recording for my site, AnonRecordings.com Each disc is only $3. On the recording he says that RE Agents can do great in this market, if they are actually WILLING TO WORK. Incredible that lenders are still being so selfish about the whole thing. But then everyone is…

I just got a Real Estate Professional that has been specializing in Short Sales since the 1970s to do a 70 minute Audio Recording for my site, AnonRecordings.com

Each disc is only $3. On the recording he says that RE Agents can do great in this market, if they are actually WILLING TO WORK.

]]> By: Albuquerque realtor http://www.doctorhousingbubble.com/what-really-goes-on-with-black-matter-sivs-a-micro-case-study-my-experience-with-prosper-and-how-it-is-similar-to-the-current-mortgage-debacle/#comment-2565 Albuquerque realtor Sun, 28 Oct 2007 04:53:06 +0000 http://www.doctorhousingbubble.com/what-really-goes-on-with-black-matter-sivs-a-micro-case-study-my-experience-with-prosper-and-how-it-is-similar-to-the-current-mortgage-debacle/#comment-2565 All I can really say is, that is a really hot picture. ;) All I can really say is, that is a really hot picture. ;)

]]> By: irondoor91 http://www.doctorhousingbubble.com/what-really-goes-on-with-black-matter-sivs-a-micro-case-study-my-experience-with-prosper-and-how-it-is-similar-to-the-current-mortgage-debacle/#comment-2560 irondoor91 Sat, 27 Oct 2007 22:31:57 +0000 http://www.doctorhousingbubble.com/what-really-goes-on-with-black-matter-sivs-a-micro-case-study-my-experience-with-prosper-and-how-it-is-similar-to-the-current-mortgage-debacle/#comment-2560 Question for RichDad411: How do you plan to finance all the "deals" you're going to do? How do you plan to handle the negative cash flow while you wait for the next buyer to pay you off? How will the next buyer finance his purchase from you? Assume that he needs to sell his property to buy yours; how will the buyer of his property finance the purchase. Remember, when your "deals" go up in "price" after you are somehow able to finance them, you must assume that they are not doing so in a vacum; other properties are going up also. Yes, there will be some special "deals" that work out, but not most of them and many will be left holding the bag who bought at the first false bottom. Is it worth the risk that you might not be one of those special few who get lucky? As a good friend of mine once said; "I don't want the cheese, I just want out of the trap". Good luck, I've got a feeling you're going to need it. Question for RichDad411:

How do you plan to finance all the “deals” you’re going to do? How do you plan to handle the negative cash flow while you wait for the next buyer to pay you off? How will the next buyer finance his purchase from you? Assume that he needs to sell his property to buy yours; how will the buyer of his property finance the purchase. Remember, when your “deals” go up in “price” after you are somehow able to finance them, you must assume that they are not doing so in a vacum; other properties are going up also.

Yes, there will be some special “deals” that work out, but not most of them and many will be left holding the bag who bought at the first false bottom. Is it worth the risk that you might not be one of those special few who get lucky?

As a good friend of mine once said; “I don’t want the cheese, I just want out of the trap”.

Good luck, I’ve got a feeling you’re going to need it.

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