Hooray!

I was going to write a rebuttal of Matt Glantz’s nonsensical blog, which can be found here: http://www.cardplayer.com/poker-blogs/71-matt-glantz/entries/560971-full-tilt-poker-and-pokerstars-rumors-major-hurdle but in light of the FTP/Stars deal,  it would be like telling the Mayans they were wrong on 12/22/12.

On that note, Hooray!! Pokerstars saves the day and we will receive our FTP funds!  I don’t really have anything interesting to add on the subject, but I would like to pop a cyber bottle with my fellow poker players. 

Notice that we are still balling on a budget until poker gets regulated in the U.S.  We can break out the Cristal when we can legally play poker online again in this country.

I’ve picked up the poker itch again – it’s been a long time since I’ve had the urge to play. My plan is to  build a traditional bankroll from scratch.  I took 3k cash out of the bank, and I plan to be in Ivey’s room by next summer!  There is a soft, 1-3 PLO/NL game down the road from me, where I plan on torturing the Albanian regulars, until I get enough money to go play some higher stakes games downtown.  The biggest game is a 25-25-50 PLO game that spreads once a week at Motor City Casino.  It sounds shady, with a lot of players backing each other, but whatever,  it’s the only place to run it up.  I’m not very good at PLO, but since this is for fun, I plan on being very aggressive with my shot-taking.  Busto or robusto!! Don’t get too excited, because I might call “Uncle!!” if live poker gets too boring or if I can’t beat the 1-3.  I will definitely post my results and every bad beat I take.  In fact, I look forward to running this blog into the ground with low stakes bad beat stories.

When I started this blog, my goal was for it to be interactive for the readers with my real estate decisions.  However, things never really materialized that way.  But I’ve got a deal for you, that I’m not really sure what to do with.  My buddy, Will Hadley, knows this guy that has had his property foreclosed upon and now the property is into the 6 month redemption period.  The house sold at auction for around 30k and that would be my purchase price when the owner sells me his redemption right.  The owner said that he would sell me the redemption rights for around 25k, but we are already talking him down.  The real crux of the issue is – how much is this farmhouse worth?  I am having a hard time deciding.  What do you think.   Here is the listing: 3078 Haines, Attica, Michigan

ROOM FOR ALL…. BRING THE HORSES, TOYS, PETS AND HOBBIES TO THIS MINI-FARM JUST OUTSIDE OF LAPEER. PROPERTY OFFERS OVER 5,000 SQFT OF OUTBUILDINGS, 6 IN ALL, ON 4 ACRES AND A 3-BEDROOM COUNTRY HOME THAT SPEAKS OF APPLE PIE AND FAMILY GATHERINGS. SCHEDULE LOTS OF TIME TO SEE THE NUMEROUS UPDATES AND POSSIBILITIES THIS MINI-FARM HAS TO OFFER.

Speaks of Apple Pie, imo.  You have about as much information as I do now, so how much should I pay?

Home prices in Detroit are coming back more quickly than I anticipated.  On one hand, that’s good because I own a lot of houses, but I would really like the comeback to hold off for one more year, so I can refinance all my money out, reload one more time and then reap the benefits.  There is an interesting dynamic of a ton of foreign investors buying up tons and tons of houses and renting them.  I’m not sure how that will effect the market long-term but as of right now it’s driving prices up.

I closed on 20901 Hawthorne.  There is a good chance that I will be selling it on land contract for 10k down 8% on a 3 year balloon.  I debated if this would be better than renting it, and essentially its a net present value problem.  I posted it on 2+2, but then realized its quite a bit better to land contract it right after posting.  It’s  an interest decision to determine where the break even rent might be.  If anyone wants to take a crack at it, I’ll post my thoughts later.

30206 Champine.  The deal is dead.  Literally.  My buyer passed away last Thursday.  RIP.  The deal is back under contract for 114k however, hopefully we can get this one to closing.

That’s all for now guys, thanks for reading.