Real Estate Rental Property SH #2 Update – Under Contract for Sale (May 03, 2017)

We are approaching the final stretch of locking down this sale for Rental Property SH #2. You know, I’m going to miss this awesome property quite a bit… It’s really a great pad and like I mentioned last time, if I owned it under just my own name I don’t think I would ever want to part ways with it…

Right now, we are on schedule to close sometime in the next few weeks… Hopefully, by next Friday as I will confess that I’m getting quite bored of the Bay Area and would like to finish off my checklist so that I can hit the road and continue my travels again.

Anyway, prior to handing the keys off to the new seller buyer, we were tasked with installing some new appliances.

New Whirlpool range.

Whirlpool fridge, french door style to match.

Since I’m in town by necessity right now, I figured I might as well take the time to stop and smell the roses…

Any readers who have entered the precious metals fray with me know that it’s a pretty shitty time to be in these mining stocks right now… But what can you do? The market giveth and the market will taketh away just as quickly…

When in doubt — “Buy low and sell high.

Yeah, yeah, I know…

I’ve obviously demonstrated to you all that I’ve done a pretty piss poor job of executing that strategy… With the benefit of hindsight, I’m quickly learning (and observing) that I get far too greedy during the nice runs and I never take quite enough of my gains off the table… So, when the tide turns again, I tend to get slaughtered mercilessly…

Like right now…

I’m still a work in progress, but I’m doing my best to hang in there! Most of these gold/silver miners look greatly oversold to me right now, so I’m just gonna do my best to try and add on the dips, buying in tranches and averaging my way in…

Slow and steady…

As many of you might be aware, the GDXJ ETF is rebalancing right now, so there’s been a massive sell-off that’s impacting many of these juniors… This window of opportunity won’t last forever, but my own gut feeling is we’ve still got another 2-3 months of pain and downward pressure to face before hopefully we bottom out and can start the next leg up again.

Hey, you’re guess is as good as mine… probably even better. I’m just speculating here and I’m 99.999% sure I’ll be totally wrong, as usual.

Readers who want to deep-dive into some micro analysis can check out some of my articles on Seeking Alpha… I’ve been writing on there lately, which has been kind of a refreshing change of pace from the regular blogging I do on here… Not suggesting I prefer one platform over another, but it’s different stylistically (here I just ramble like a drunken sailor most of the time), which forces me to adapt/try/experiment with new things.

Here are some recent articles:

 

Moving on, the weather out here in NorCal has been spectacular, so I’m just trying to chill out for the most part… Yes, investing in mining stocks can get frustrating sometimes and it’s human tendency to get impatient, but I find the best way to focus on the big picture is to take a step back from all the noise and just try and enjoy life.

Since I’m here, I might as well make the most of it…

Nostalgia… This takes me back to the days of high school…

And that’s life…

 

So, let’s get this property sold and move on to the next chapter!

 

Fight On!

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alFI FighterFiscalVoyageBrian - Rental MindsetMidwestern Landlord Recent comment authors
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Srini
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Srini

Jay,
Good luck completing it. I have completed mine and the cash in the bank which is a pleasant thing to see while i will be not be getting my pay check in the month of May and after.

Have been addicted to it for the past 19yrs and havnt missed a single month getting it lol.

cheers
Srini

Midwestern Landlord
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Midwestern Landlord

Don’t be too hard on yourself regarding timing the sale of the mining stocks. It is human nature to want to maximize your position. You could have just as easily sold out after being up by 40% and would me upset about that as well. Your position is still much better than just going with the masses and putting the nest egg in a mutual fund. The underlying thesis is what is important. If you or I could perfectly time the market we would be billionaires in no time. Those appliances you bought look pretty sweet. Congratulations on the upcoming… Read more »

Brian - Rental Mindset
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I hope selling the property goes well. Things are still pretty hot right now, so I think it will.

Improvements like new appliances might seem like an expense, but the goal is to get back that money plus some on the sale. Same with things like staging furniture (if recommended by the realtor). People new to REI might just see the expense, without the benefit shortly to follow!

FiscalVoyage
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Good luck on the sell. Hope it goes in your favor.

al
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al

” I’m quickly learning (and observing) that I get far too greedy during the nice runs and I never take quite enough of my gains off the table… So, when the tide turns again, I tend to get slaughtered mercilessly… ” I understand the feeling, been there too. Now I have the habit (after the stock purchase is through) , to initiate an automatically activated trailing stop loss sell order with GTC setup, and activation range put e.g. 20% under my initial buy price. The trailing stop loss must be far enough away to not be triggered too early, it… Read more »

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