Tuesday, October 24, 2006

Catch a Gideon at NEW DOMAIN

Catch a Gideon has moved to its own domain!!

Check out the new site at http://www.catchagideon.com.

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Sunday, October 22, 2006

Save using discount sites

Most of us buy things online. Even if you don't, you should. While aimlessly searching for items on sites like Overstock is a good way to waste money, finding targeted items can save you a bundle. Why not buy last season's DKNY watch? (Yes, watches have "seasons" somehow.) You can Save up to 80% at Overstock.com! on these sites sometimes.

If you're looking for items like watches, gifts for Christmas, TV's or the like, take a look at Overstock.

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Study: Twenty-something women spend big on fashion

From National Jeweler.com:

Women ages 20-29 spend almost half (48.2 percent) of their disposable income on accessories, fashion and beauty, according to a new study from Jane magazine.

Of that, about 16 percent goes toward purchasing jewelry and watches, the study finds.

From Luxist:
many of these women are "children of the affluent baby boomers" and grew up expecting and appreciating luxury goods. 84% said that they had no problem with living beyond their budgets.
We hate to be the ones to break it to Mr. Lamadrid, but an appreciation of quality and style isn't worth all that much if you are living so far beyond your means that all of your "good taste" gets repossessed when you can't pay off your debt.

So they're spending a ton of money and not getting what they want. Good job. I love luxury items too, but pick a few and make sure you really want them. Create an identity and don't make it "the person who spends $2k a week on purses."

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An analogy

My concern is that there’s a big difference between buying new running shoes and actually hitting the road every morning. Big difference. One is really fun and relaxing while the other requires a lot of hard work, diligence, and sacrifice...

You can buy a successively more costly and high-quality series of claw hammers until you’ve reached the top of the line, but until you learn how to use them skillfully, you’re going to keep making ugly bird houses.

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How to be a total idiot

You might have seen this one. This 24 year old "aspiring real estate investor" bought 8 houses with no money down. He fixed and sold two of them and then ran out of money. Now the banks are foreclosing on the properties and, well he's screwed. Here's his site.

What's wrong with this?

First off, I don't buy it. I don't think it's happened and it's just a publicity stunt to generate ad revenue or something. Why? It's too out there. The author claims to have "taken some seminars" and read some books and then just started purchasing houses. WTF?!? I seriously doubt a bank would allow that to happen since he seems to have had no credit and no job or any means of paying off the mortgages besides selling the properties. Sine he bought the houses going into a real estate downturn, the banks wouldn't be dumb enough to think that was enough as collateral.

Even if they would for some reason...why would they let him buy 8! houses?

Besides how illogical it is for him to have purchased these properties in the first place, the guy admits to lying on his applications about income and other factors. Um, fraud anyone? The site is too public at this point for him not to get official attention for it.

One more rant...
Casey claims to have read the books most of us have by authors like Robert Kiyosaki, Robert Allen, and Loral Langemeier. Kiyosaki is great for learning general finance principles, and even to point you in the direction of investing in real estate. But if you're going to take Rich Dad Poor Dad and the others as an instruction manual for purchasing millions in property with no other knowledge then you're just dumb.

Finally, his posts today discuss his getting a job with "his rich dad." The post sounds far too close to the theme of Rich Dad Poor Dad to be real. Maybe I'm wrong but I don't think so.

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