BowTiedBroke Profile picture
Oct 26, 2023 1 tweets 2 min read Read on X
Graphic - don’t read this if you’re squeamish.

A day ago I posted about taking a motorcycle or convertible on Tail of the Dragon. Driving back from NC/TN to Atlanta, I saw something I never want to see again. I couldn’t sleep at all last night. First off, much respect to paramedics, police, first responders and ER docs. Don’t know how they see what they see on a daily basis and not get impacted. I’m sure they do. I could never do that day in and day out.

I’ve seen dead bodies. Funerals, my mom when she passed, grandparents, etc. but I’ve never watched someone die before my eyes. I saw it yesterday in the most horrific manner.

I’ve always been an adrenaline junkie. Loved racing ATV’s. Bought a Kawasaki Ninja 650R for “fun” back in ‘08 and had 2 kids. I remember my heart racing as I’d fly down I-95 in FL on that Ninja. As I’ve aged though, I’ve realized, I kind of like to be alive. One of the reasons I sold the ninja after a year of owning it: Motorcycles are a DEATH WISH. The statistics show it. It’s proven. The fatality rate for a motorcycle crash is 27X more than the fatality rate for a car crash.

Driving home on 74 around Balsam, NC, literally right past the entry to the Blue Ridge parkway, a guy was on his motorcycle about 1/4 mile in front of me. Three cars directly in front of me started to slow down and about 100 yards in the distance I saw a lot of “debris” in the road. As the sun was shining directly at me as I was driving west, it was hard to tell what it was. I assumed some trash flew off of a vehicle and we had to go around it.

As I got closer, the debris came into better focus. It wasn’t debris. The first thing I drove next to was an arm. Ripped completely off at the shoulder. I could see the tendons and muscle. About 20 feet further, a foot. About 20 feet past that, a body, almost unrecognizable. And about 20 feet past that, a crumpled motorcycle. Since it was around 6:00 PM, I’d guess the guy got off work and wanted to take a nice scenic cruise through the mountains. All I could think about last night was his body lying in the road, with his limbs ripped off. He had no motorcycle protective gear on, but even if he had, that wouldn’t have saved him. He was in a blind spot and someone came right over on top of him.

After seeing that yesterday I wanted to look up some recent statistics on motorcycles. Pretty mind blowing.
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More from @BowTiedBroke

Mar 3, 2023
This is what started my Greed cycle. This was my first RE. See that $150K in ‘02, that was me. This is place I moved out, rented to snowbirds, then moved back in. See that $173K sale in ‘03. That was me too. Then I saw the guy who bought from me get $355K, 2 years later (Thread)
That guy was smart. I missed the peak, he didn’t. But as a mid 20’s investor w/ not much RE experience, once I saw what he got in late ‘05/early ‘06…I started getting greedy. Surely all of mine would continue to appreciate.
There isn’t just greed in your internal financial psyche. Many times greed is accompanied by jealously. I remember feeling pissed off that I sold early & guy who bought from me, made $200K on MY place! If you feel yourself getting jealous + greedy, be careful
Read 4 tweets
Mar 3, 2023
Nothing like having Wells, BofA & more calling every other day asking for their mortgage payment, on ARM’s, that reset, that you pd $200K for, could have sold for $500k, got greedy, and eventually sold by bank for $90K after foreclosed. This was just 1 of mine. I had 10. (Tiny… twitter.com/i/web/status/1…
I bought these preconstruction, the rage in SFL back then. Pd $205 pre con, could have sold the day it was completed for 100% profit in 2005. Decided to hold because RE always goes up right?!? Right? Market turned, I listed for $299, nothing, rented, ARM’s all reset, prices crash
Renters moved out, payment doubled because of floating rates. The transaction in ‘09 was the actual FORECLOSURE. That was the amount remaining on mortgage. HIGHER than my original loan because I did Option ARM’s. Kept paying minimum, excess interest kept tacking on principle.
Read 5 tweets
Feb 12, 2023
Today was my dad’s 80th Birthday. My mom died quite a few years ago way too early. My dad was raised with no running water, no electricity, an outhouse, in a small shack with 6 brothers and sisters. He was stabbed in the chest by his own brother during an argument. (Thread)
My grandad visited the witch doctor in the swamp to get a magic dust to sprinkle around their shack. Dad worked picking tobacco in fields of South GA/North FL until he got sick of living in the swamp and joined the Army at 18. To say my dad was a TOUGH man,would be understatement
Growing up, I remember him working in a big freezer all day hauling slabs of beef on his shoulder and hanging them on hooks (think Rocky Balboa freezer scene). He would leave that job and go work a second job for Ryder driving trucks at night. He’d get home near midnight
Read 10 tweets
Dec 29, 2022
For all who think you need SUPER SKILL to be successful, here is a 2 min inspirational video of me on one of my new CAT excavators. (Sound on). Person laughing while filming is a good friend who flew up from FL to hang and see some of my RE projects. (Thread)
As I’ve stated before, your assets should be making you money, somehow. I moved from a STR in RE back in 2000, to LTR’s in ‘03 to being completely broke by ‘09, back to STR’s in 2017, and on to land development.
I learned a few things over the decades with RE. 1) Don’t get over leveraged and 2) Don’t get paralysis by analysis 3) Figure out how your assets can produce cash flow.
Read 8 tweets
Dec 19, 2022
Jimmy - Part Deux (Get that SENG!)

Most of your assets should be making you money. I'll be digging into how I got started in RE soon, but wanted to finish the thread on Jimmy, the felon who I employ. If getting into RE, be ready to work w guys you wouldn't normally hang with
There are quite a few formulas some of you may know when calculating RE investment. ROI, ROE, CoC, GRM, NOI, IRR. There are also formulas you may not factor in. The "JIMMY" formulas. In Real Estate, you will have to deal with many Jimmy's. Handymen, framers, day laborers, etc.
Some of these folks, you have to watch like a hawk. In my early days of RE investing, I got hosed by a few subs. Your "Radar" improves with time. But quite often you'll find a guy who is a major asset to your reno, to your flip, to your purchase. Be open to learning from them.
Read 17 tweets
Dec 17, 2022
Have I got some real estate adventures today for y’all. This is the 1,000 acres I’ve closed on that will be developed (eventually). I want everyone to meet Jimmy. Jimmy is a twice convicted felon who works for me now. I can barely understand what he says half the time twitter.com/i/web/status/1…
So I just nod in agreement or say “yeah”. He lives “off the grid”, kind of how @BowTiedBull encourages the community to live sometimes. This 1,000 acre tract started as a strategic purchase of only about 100 hundred acres. You see, real estate is all about relationships.
When I closed on the first 100 acres of this particular tract, I was looking for the right of way/easement to access the acreage. In my side mirror, some really scary dude with a ZZ Top beard came walking up to my truck w an axe in his hand. I thought I was going to lose an arm.
Read 11 tweets

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