SteveF and other shameless idiots

Where is his ponzi-scheme post? eric_cartman should be able to find it!

MMAfia, honestly, do you see anyone really agreeing with him wholeheartedly? I think you're beating a dead horse here.

bjw2103, the horse is not dead.

In fact, it is alive and kicking as evidenced by his daily new thread creations and subsequent post replies.

Once the "horse is dead", ala spunky, rest assured the beating will stop.

MMAfia -- while I directionally and on the same page as you, stevejhx, and others who see the market coming down further --- this post is inappropriate. Calling people shameless idiots is bad form. SteveF and I are rarely in agreement, though I appreciate his positivity on days when the market is melting and people are suffering from heavy hearts.

I made more money in RE in 2008 than I ever have. I am on track to make even more in 2009. My costs are down significantly - loans tied to rates - and my other mortgages are being refinanced at historic lows. I have no idea what you guys are talking about but for me it is a great time to own and buy real estate. I am in it for the long term.

MMAfia, really? It's kind of like a lost fart in the wind at this point (apologies for the crass imagery). Yeah, it's there, but it's not really affecting anyone, so why draw more attention to it? I appreciate your efforts, but be careful, some people might call you a hall monitor for doing this!

One assumes that petrfitz isn't using mtm accounting to show the decline in the capital value of his apparently large re empire.

BTW, on a more serious note, people here have know how I've been saying that the real crisis has yet to come, as in, we've just finished the appetizer.

Well, as you may be aware, the real crisis in my view is the dislocation of the global financial system and distrust of the internal currency exchange markets based on fiat paper.

Looks like the main course is on its way... we can smell wafts of it coming from the kitchen already... what with all the talk about the dollar, its status as a reserve currency and SDR alternatives slowly gaining more spotlight in the mainstream media.

of course, this is all just posturing before the G20 meetup in April, but it's coming folks. UK had trouble selling it Gilts last night. US Treasuries bought by the Fed resulting in strange yields causing the market to tank today on a dime. The pot is stirring, the main course is slowly cooking.

Be prepared. Protect your assets. The G20, according to LEAP2020/GEAB is the last chance to avert the main crisis, and the way things are looking, this last, final window of opportunity is rapidly closing with the posturing being displayed by the World Leaders.

jim_s_e: petrfitz formerly claimed that his tenants were paying 50% of their take-home pay in rent. Then he claimed that he raised their rent 15% - 20%, meaning that his tenants would be paying 60% of their take-home pay in rent.

What, I wonder, do they eat for dinner? Alpo?

steve are you arguing that renters in NY on average pay less than 50% of their take home pay in rent?

"are you arguing that renters in NY on average pay less than 50% of their take home pay in rent"

Yes.

yeah Steve - according to you it's easy to live in Manhattan. No one lives check to check. Rents are a breeze to the majority of Manhattan dwellers........

The original thread where SteveF confessed to perpetuating "ultimate pyramid scheme" ..

http://www.streeteasy.com/nyc/talk/discussion/3181-poll-whats-going-to-happen-to-re-market-in-ny

SteveF "I'm trying to create value for my condos. If I feel street easy influences that than I'll be there to counter anyone who prevents that. I want [prospective condo buyer] to buy to increase value. This way I win and all apt owners win. It could be the never ending, everyone wins ultimate pyramid scheme."

SteveF - so you are confirming that real estate is a Ponzi scheme, and real estate bulls are just perpetuating it on this board?? Finally a confession by the real estate bulls !!

Thanks, e_c, for putting it into context!

petrzitz - no respectable landlord will rent to someone who makes less than 35x monthly rent. The usual is 40x. That is 30% of your income. MAX.

Section 8 vouchers work differently, though.

so do co-signers.......and many other things. Steve is jsut an idiot who thinks he knows everything. Steve thinks he knows more about things than the people who actually do them. He is brilliant.

petrfitz,
if you ignore the fact that your holdings are plummeting in value then i am sure that you are doing great. my favorite line is 'for me it is a great time to own and buy real estate.' huh? it may turn out to be a great time to buy real estate now that prices have plummeted all across the country and on average 30% in manhattan, but it certainly hasn't been good to own real estate through that collapse. and given that you are leveraged (loans tied to rates) your declines have been far worse than that.

"I have no idea what you guys are talking about but for me it is a great time to own and buy real estate. I am in it for the long term."

These 2 sentences proves beyond all doubt that you are a moron.

"Rents are a breeze to the majority of Manhattan dwellers........"

They are compared to paying 2-5 times as much by getting a mortgage for a comparable apt. Duh.

Petrfriz - was 2000 a "great time to own and buy" tech stocks? Just wondering about your opinion on that one.

Now this makes perfect sense. LOL! I've always wondered steveF's hidden agenda. His credibility is pretty shot right now. This guy has a lot riding on real estate.

Petrified keeps telling himself that his RE investments will somehow be immune to the collapse of Manhattan RE prices, that his tenants will keep paying their rent to him despite the fact that rents are collapsing everywhere and they could easily walk away from his crap buildings, that prices haven't been an expanding bubble for the past 8 years that is now in the process of popping, that IF HE JUSTS STAYS POSITIVE AND IGNORES THEY NAYSAYERS EVERYTHING WILL BE OK. LMAO - ain't going to happen, bro.

hee, hee

That is really f**king funny.

So, SteveF bought in April 2008. That was just about the tippy-top. Excellent, excellent. Makes sooooooooo much sense...

No wonder he hasn't dumped his properties. Gonna be a long wait.

hee, hee

there's usually a rational explanation for people's irrational behavior

shake those pompoms hard stevie--youll break even some day

'I made more money in RE in 2008 than I ever have. I am on track to make even more in 2009. My costs are down significantly - loans tied to rates - and my other mortgages are being refinanced at historic lows. I have no idea what you guys are talking about but for me it is a great time to own and buy real estate. I am in it for the long term.'

I am in it for the long term. Like you had a choice....

got to love that post....

train coming?
what train?

Bricka-bracka fayahcrackah!

Fwiw, I get a kick outta imagining a fat hairy Fsteve, in a cheerleader out fit with an inappropriate length mini skirt with a slut tat 'I have sex for real estate' just above his plumber butt cheeks. Pump it you sexy hairy bubble chasing lic owning fella!

We are digging up old threads to ostracize each other because presently the RE market is dull.
Am I wrong?

Don't know about the rest of them, but I'm just mean. :)

Obtw. Fsteve I've got 3 words for ya

Laser hair removal. And don't go cheap, even of you have to pay for 2 assistants to keep your butt cheeks spread.

>shake those pompoms hard stevie--youll break even some day

You are definitely not a man.

I tell you this...If I was on the Titanic, I'd want steveF to be my captian.
He would stay positive right to the bottom of the ocean.

Attention ladies...that's the kind of guy you want to marry.
(assuming the hairy legs and cheer leading outfit was not a big turn off)

>I tell you this...If I was on the Titanic, I'd want steveF to be my captian.
He would stay positive right to the bottom of the ocean.

Doesn't the capitain take blame for the crash and sinking? If yes, do you want to reconsider?

you're hfscomm1.

not alpo.

hfscomm1

plus buyerbuyer.

and midtownereast

and a couple of hundred others.

but, of course, you know that.

actually, having spent way too much time on this site, and having considered how and why and what about they post, buyerbuyer and midtownereast are NOT the troll. we totally disagree on this, cc. midtownereast i had some thoughts about because a lot of the messages are very similar to mine and i thought someone might be trying to create a false identity for me (but that's way to self-involved, and only ph41 has been stupid enough to think so, no offense to midtownereast but our styles are not at all the same even tho our politics may be).

buyerbuyer has a very identifiable goal, to buy a small apartment, is very active in the williamsburg threads. the troll never had any identity. huntersburg, that's another story.

has it occured to you at least one of the trolls here might be a writer who is using this board to develop his characters? far fetched, but not impossible.

?

>huntersburg, that's another story.

What?

the trolls are not developing at all. boring commentary. bizarre items that have almost zero connection to anything.

but they can't overpower the boards. so there's that.

You just criticized someone for a lack of being able to write a paragraph to your satisfaction.

Could you please explain?

lucy...

why don't you take care of this.

"I tell you this...If I was on the Titanic, I'd want steveF to be my captian.
He would stay positive right to the bottom of the ocean."

Of course, he's also be cursing out the people pointing out the lifeboats.

I have to say that I deeply insulted if someone thinks I am Huntersburg. If you make up things about me being someone else, please at least give me someone halfway intelligent and somewhat cogent.

I "am" deeply insulted -- sorry -- typing too fast.

Interesting

See what I mean? Good Lord; I'd rather be accused of being an alter ego for Truth!

Who are you talking to now?

You. I am appalled that someone would think I am your alter ego. Please ... call me something else.

> I am appalled

Wbottom?

Wbottom seems pretty good to me. I am not him(?), but, it I must be called an alter ego of another poster, I'll take Wbottom.

Sorry, "if" I must be called an alter ego ...

> I am not him(?),

Funny, I've thought the same thing

jerkface

see how easy it all is? trust no one!!!!

> The original thread where SteveF confessed to perpetuating "ultimate pyramid scheme" ..
> http://www.streeteasy.com/nyc/talk/discussion/3181-poll-whats-going-to-happen-to-re-market-in-ny

Oh my lord, what a catch!

SteveF "I'm trying to create value for my condos. If I feel street easy influences that than I'll be there to counter anyone who prevents that. I want [prospective condo buyer] to buy to increase value. This way I win and all apt owners win. It could be the never ending, everyone wins ultimate pyramid scheme."

So, no answer from Steve on this yet, but is he finally admitting it?

This gets funnier...

"dco...I feel with the aggressive Fed action the best is yet to come. My money is on Manhattan. I feel if you are betting against it you are wrong and will lose money. But hey your loss is my gain. So thank God for people who think like you."

".."Manhattan is indestructible I have to have a piece!" so there will be a surge in prices and renters worst nightmare"

"Well, we are already 8 months into the crisis and the national scene has deteriorated, maybe bottomed, yet we prosper...time is running out Manhattan housing bears..."

"The days proceed along as you get more and more anxious....that has got to be one s-cky feeling. Just buy already. "

steve should try amway or nuskin--he's cut perfectly for their model

> Now this makes perfect sense. LOL! I've always wondered steveF's hidden agenda. His credibility is
> pretty shot right now. This guy has a lot riding on real estate.

If his credibility was shot 22 months ago... it's been nuked now.

always good for a laugh...