The following exchange took place on Craigslist - the investment banker’s response is a classic!

Original Post

What am I doing wrong?

Okay, I’m tired of beating around the bush. I’m a beautiful (spectacularly beautiful) 25 year old girl. I’m articulate and classy. I’m not from New York. I’m looking to get married to a guy who makes at least half a million a year. I know how that sounds, but keep in mind that a million a year is middle class in New York City, so I don’t think I’m overreaching at all.

It will be data-heavy week with numerous important releases throughout the next couple days. The market’s focus now is on the FOMC meeting on Wednesday with a pricing in more than 25bp cut However, today’s BBG head line news indicates the Fed remains cautious in signaling a more aggressive monetary easing, even though recently there are more evidence of economic slowdown in the US has emerged.

Thought on Bay area housing future
I believe you live in Bay area where it’s very different from other regions of the country. Bay area has been fortunate because of the Silicon Valley effect. It probably never had a bad few years of price drop. Every body has been lulled into thinking that the price will continue to go up forever. I don’t blame that. In fact, price has been going up for the last 10 years at average annual rate of 8.9% according to OFHE. Whereas DC area only rise at the rate of 7%. That 1.9% extra growth rate has made Bay area the most expensive region outside of Manhattan.

1. Planning as you go
Andy Heller, an Atlanta investor and a co-author of “Buy Even Lower: The Regular People’s Guide to Real Estate Riches,” says lack of a plan is the biggest mistake he sees new investors make. They buy a house because they think they got a good deal and then try to figure out what to do with it. That’s working backward, Heller says.

“First, you find the plan,” he says. “Then you find the house to fit the plan. Pick your investment model, and then go find property to match that. Don’t find the strategy after you find the home.”

RealFacts.com
Real Facts is a research organization and database publisher specializing in the multifamily housing market.

Creative Real Estate Online: http://www.creonline.com/
Real Estate Investing Information at the #1 Real Estate Investment Site; Financial Independence through Education.

DQNews.com
DataQuick Real Estate News provides nationwide real property and land data, and news relating to real estate trends.

Foreclosureforum.com
Foreclosure Forum is a large site providing lots of information about foreclosures.

Mobilehomeparkstore.comThe Mobile Home Park Store provides lists of parks for sale.

Newspapers.com
Lists of U.S. and International Newspapers–many of which are accessible online.

Foreclosures.com
Offers pre-foreclosure lists and training for investors. Signup for the “Foreclosure Forecast” FREE

www.dca.ca.gov/legal/landlordbook
California Department of Consumer Affairs. Provides a guide to residential tenants’ and landlords’ rights and responsibilities

Mrlandlord.com

www.reiclub.com
A giant website containing a wide range of useful real estate investor related information similar to Creative Real Estate Online