So what do you guys do for a living?
10-25-2006, 01:10 AM
#196
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The Millionaire Next Door does not drive a CGT or any other Porsche. Some people that work hard and can afford a Porsche sometimes feel guilty when they buy such a luxury, as it is not a need, but a guilty pleasure.
Every toy is eventually sold. A car may be a goal when young, but as you get a little older it's the people close to you that will make you happy.
A few weeks ago I was standing outside a restaurant and two older gentlemen, approximately 65-70 years old came out and they were engrossed in conversation. The phrase I overheard hit me and stayed with me, "I don't want to be the richest guy in the cemetery". Life is a balancing act.
Every toy is eventually sold. A car may be a goal when young, but as you get a little older it's the people close to you that will make you happy.
A few weeks ago I was standing outside a restaurant and two older gentlemen, approximately 65-70 years old came out and they were engrossed in conversation. The phrase I overheard hit me and stayed with me, "I don't want to be the richest guy in the cemetery". Life is a balancing act.
10-25-2006, 11:21 PM
#197
Intermediate
Thread Starter
This has become such an awesome thread with all of your helpful insight! I thank you for your words of truth greatly!
Looking back at when I first started this thread, I was confused at what I wanted to do with my life. I've gone through alot of mental development over the past year. Your guys' inisght on life has really helped me out tremendously. I can't stress how thankful I am! Another strong arm in my realization that life doesn't equal money comes from a class that I am taking right now. It's all about discerning "ture" vocation and what the grand scheme of life should be.
With the knowledge gained from you guys and my class, I am glad to say that I know what I will be doing in life - architecture. It's been a dream since I was a little kid to become an architect, but it was only within the last year that I found out that it would be hard work and probably not the best paying job (although enough to live off of!). With my parents providing a lavish lifestyle for me now, it's a challenege to except that I probably won't live like I am again. That's OKAY to me though since I know I will be waking up every morning to go to a job that I love.
Matt
Looking back at when I first started this thread, I was confused at what I wanted to do with my life. I've gone through alot of mental development over the past year. Your guys' inisght on life has really helped me out tremendously. I can't stress how thankful I am! Another strong arm in my realization that life doesn't equal money comes from a class that I am taking right now. It's all about discerning "ture" vocation and what the grand scheme of life should be.
With the knowledge gained from you guys and my class, I am glad to say that I know what I will be doing in life - architecture. It's been a dream since I was a little kid to become an architect, but it was only within the last year that I found out that it would be hard work and probably not the best paying job (although enough to live off of!). With my parents providing a lavish lifestyle for me now, it's a challenege to except that I probably won't live like I am again. That's OKAY to me though since I know I will be waking up every morning to go to a job that I love.
Matt
10-26-2006, 02:37 AM
#198
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"It's been a dream since I was a little kid to become an architect, but it was only within the last year that I found out that it would be hard work and probably not the best paying job (although enough to live off of!)."
Whew! This guy speaks the truth....mostly.
Think abou this: where are you reading this forum? Under a tree? In a forest? What makes all of this possible? Where are you planning to sleep tonight? In a tree? A cave? Where are you planning to learn Ahkeeteccha? At the beach or in a library? Where are you planning to practice it? On a grassy knoll? Where are the tools you will use made? Where do lawyers do their lawyering, and physicians do their physicianing, and dentists do their dentisting? What do realtors sell ? And where do cops do their copping out? Ad infinitum.
a Few words of caution: sleep....get all you can now, or learn to do without.
Whew! This guy speaks the truth....mostly.
Think abou this: where are you reading this forum? Under a tree? In a forest? What makes all of this possible? Where are you planning to sleep tonight? In a tree? A cave? Where are you planning to learn Ahkeeteccha? At the beach or in a library? Where are you planning to practice it? On a grassy knoll? Where are the tools you will use made? Where do lawyers do their lawyering, and physicians do their physicianing, and dentists do their dentisting? What do realtors sell ? And where do cops do their copping out? Ad infinitum.
a Few words of caution: sleep....get all you can now, or learn to do without.
Last edited by Ron_H; 10-28-2006 at 06:27 PM.
11-04-2006, 12:24 PM
#201
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Wow.. I read this thread from page 1. Good luck to everybody in the future on there dreams and college decisions and career decisions. I have a passion for cars and real estate and that hows i plan on building my networth and buying the toys i want in the future. Until then i will be an electrician apprentice 
11-08-2006, 01:17 PM
#202
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Here is how you do it. You buy one house at a time. You work hard and save your $$ for the down payment. Put at least 20% down. Be willing to work hard on the weekends to attend to you properties. You rent out the houses for at least a break even. You do this until you have enough property to upgrade. Tax Fee exchange into a multi family unit. 4 plex or greater. Then you sell those and get into retail. Stay focused and study the market. You will succeed. Turn your primary residence every 2 years. Take the income from your house tax fee and re-invest. In the right market you can make $50k a year just from appreciation.
Start your own business some were in the Reals estate world. Construction, Development, Real estate, Property Management. These businesses give you the inside track on the market.
Start early. When all my Friends were touring around Europe on there parents dime I was working 60 hours a week saving $$ to buy properties.
Get your credit started early. Get a credit card and a car loan and pay every payment early. Without good credit you are screwed!!! I had my first house loan at 17.
Have a partner that is as dedicated to being as rich as you are. They must be focused. My first wife spent all her $$ on crap, she only lived in the present. That is why it did not work. Your partner must have the same goals or your plan will be sabotaged. New wife talented and on the same page. Big help when she pulls down good money to help the cause.
Never count on your parents or grandparents to save the day. Sure you will probably inherit a little bit, down rely on it!!! All my Trustafarian Friends that are waiting for there parents to kick down have miserable lives. Do it on your own. Test yourself, you might be surprised with the outcome.
You need one lucky break, you will know it when you get it. don't **** it away. I will guarantee you every CGT owner or Multi Millionaire on this board can look back on one good break they had that got the ball rolling.
Long story short. From 19 to 36, 15 million in net worth, Will be triple that in the next ten years. My biggest break was the love of my life with the same goals and more talent.
Real estate. It works.
CGT is on the list. Still focusing on Vintage Porsche's before there all gone.
Joe
Start your own business some were in the Reals estate world. Construction, Development, Real estate, Property Management. These businesses give you the inside track on the market.
Start early. When all my Friends were touring around Europe on there parents dime I was working 60 hours a week saving $$ to buy properties.
Get your credit started early. Get a credit card and a car loan and pay every payment early. Without good credit you are screwed!!! I had my first house loan at 17.
Have a partner that is as dedicated to being as rich as you are. They must be focused. My first wife spent all her $$ on crap, she only lived in the present. That is why it did not work. Your partner must have the same goals or your plan will be sabotaged. New wife talented and on the same page. Big help when she pulls down good money to help the cause.
Never count on your parents or grandparents to save the day. Sure you will probably inherit a little bit, down rely on it!!! All my Trustafarian Friends that are waiting for there parents to kick down have miserable lives. Do it on your own. Test yourself, you might be surprised with the outcome.
You need one lucky break, you will know it when you get it. don't **** it away. I will guarantee you every CGT owner or Multi Millionaire on this board can look back on one good break they had that got the ball rolling.
Long story short. From 19 to 36, 15 million in net worth, Will be triple that in the next ten years. My biggest break was the love of my life with the same goals and more talent.
Real estate. It works.
CGT is on the list. Still focusing on Vintage Porsche's before there all gone.
Joe
11-08-2006, 01:44 PM
#203
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Ok - after the last post, I feel I shouldn’t just be critical of others posts without at least adding something myself. My story -
Age - 38
SAT - 1560 (taken in 1985)
Undergrad - Scholarship to large Midwestern university. (Couldn’t afford to go to school otherwise). Picked up degrees in physics, philosophy, and economics.
Grad - MBA from urban Ivy League institution.
Business experience -
Age 12 - delivered newspapers for about $30 per week beginning at 5 AM before school
Age 16 - Worked cashier at local supermarket, then moved to produce department, where they made me night manager at 17.
Ages 20-25 - Worked summer internships at a large pharmaceutical firm and a small finance firm. Accepted offer from finance firm.
Age 27 - Through hard work, ultimately got a job at a bulge bracket Wall St firm. Average work week - 80 hours.
Age 31 - Graduating from B-school, associate at another Wall St firm. Another 80 hour per week job.
Age 34 - Went back to original firm to run the group that I used to work in. Now run a group of 14 analysts responsible for billions of dollars of deal flow per month. Absolutely love my firm and my job. Hours down to fewer than 60 per week.
I owned a Porsche (944t) right after undergrad, but sold it when I went back to grad school. Currently looking for either a 993 or 996tt.
If there were three pieces of advice that I could give anyone, it is this -
1) As many above have said, do not accept failure and be perseverant. The difference between living paycheck to paycheck and having millions can often come down to only one or two extra hours of hard work per day.
2) Do not squander your money. Even though I could have easily afforded it, I have not bought another Porsche all of these years because reaching financial goals was much more important to me. And trust me, after growing up with no money, there is no material object that is anywhere near as valuable as financial security. Knowing you don’t have to work anymore is the ultimate freedom. Knowing your investments are making you more than your salary is quite the rush.
3) With the two above in mind, be careful who you marry. If you marry a spender, you will be miserable because you will not be able to follow #2 above. You don't need to have the same professional goals, but you should have similar financial goals. I think mismatching these goals is the #1 cause for divorce in America.
Lastly - the older I get, realize that it is not all hard work. There are some guys in my firm who work 100+ hours per week and think that is an ego trip. I think that is pathetic. Sometimes I will "joke" with them - "So on your headstone it will say - Here lies Fred. He worked a lot of hours." The look on their faces is a little painful when they hear that. Moral of the story - work hard, persevere, but have fun along the way. That is the whole point anyway.
Age - 38
SAT - 1560 (taken in 1985)
Undergrad - Scholarship to large Midwestern university. (Couldn’t afford to go to school otherwise). Picked up degrees in physics, philosophy, and economics.
Grad - MBA from urban Ivy League institution.
Business experience -
Age 12 - delivered newspapers for about $30 per week beginning at 5 AM before school
Age 16 - Worked cashier at local supermarket, then moved to produce department, where they made me night manager at 17.
Ages 20-25 - Worked summer internships at a large pharmaceutical firm and a small finance firm. Accepted offer from finance firm.
Age 27 - Through hard work, ultimately got a job at a bulge bracket Wall St firm. Average work week - 80 hours.
Age 31 - Graduating from B-school, associate at another Wall St firm. Another 80 hour per week job.
Age 34 - Went back to original firm to run the group that I used to work in. Now run a group of 14 analysts responsible for billions of dollars of deal flow per month. Absolutely love my firm and my job. Hours down to fewer than 60 per week.
I owned a Porsche (944t) right after undergrad, but sold it when I went back to grad school. Currently looking for either a 993 or 996tt.
If there were three pieces of advice that I could give anyone, it is this -
1) As many above have said, do not accept failure and be perseverant. The difference between living paycheck to paycheck and having millions can often come down to only one or two extra hours of hard work per day.
2) Do not squander your money. Even though I could have easily afforded it, I have not bought another Porsche all of these years because reaching financial goals was much more important to me. And trust me, after growing up with no money, there is no material object that is anywhere near as valuable as financial security. Knowing you don’t have to work anymore is the ultimate freedom. Knowing your investments are making you more than your salary is quite the rush.
3) With the two above in mind, be careful who you marry. If you marry a spender, you will be miserable because you will not be able to follow #2 above. You don't need to have the same professional goals, but you should have similar financial goals. I think mismatching these goals is the #1 cause for divorce in America.
Lastly - the older I get, realize that it is not all hard work. There are some guys in my firm who work 100+ hours per week and think that is an ego trip. I think that is pathetic. Sometimes I will "joke" with them - "So on your headstone it will say - Here lies Fred. He worked a lot of hours." The look on their faces is a little painful when they hear that. Moral of the story - work hard, persevere, but have fun along the way. That is the whole point anyway.
11-24-2006, 01:32 AM
#205
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Originally Posted by NewYorkBuck
One warning here - stories like these are rife lately because of a unprecedented increase in real estate values. I could have just as easily written a very similar post eight or so years ago about how you should be investing in internet start ups, and keep rolling that over. Many made millions doing that short term, but then the hens came home to roost. For reasons far beyond the scope of this post, I believe the housing hens are coming home to roost as we speak. So if you want to make some cash flow by renting out houses, do your research first and make sure your rents cover your expenses - a dicey proposition in many areas of the country right now. Conversely, if you are counting on continued double digit growth in the housing market for your gains, you are playing with fire.
Obviosly you do not invest in Realestate. The only big bust that I can remember is California, late 90's. Look what that property is doing now.
Besides, Commercial Retail is my game. I doubt very much people will stop drinking Starbucks and eating at Subway, even if they do, retail ground is hard to find. The American way is the best security there is. Consumers will always spend money. There will always be consumers.
I love people with like you. Keeps the competition down.
Joe
11-24-2006, 08:22 AM
#206
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Hi Matt,
You started a great thread and I'm sure many others have gotten a lot out of the responses as have you. I haven't read through all the posts but the ones I have provided you with a blueprint that should put you on the right path for anything you want to accomplish.
The only thing that I would add, and I don't know if this was said before, is to keep a healthy lifestyle and stay away from abusing substances that others may try to push on you. Many a career has been ruined due to alcohol and drug abuse and the climb out is very tough and life long. Keep a active lifestyle and include some form of excercise regime. This way you can enjoy life to it's fullest. No matter how much money you will ever make, it will not buy your health back.
Best,
Constantine
You started a great thread and I'm sure many others have gotten a lot out of the responses as have you. I haven't read through all the posts but the ones I have provided you with a blueprint that should put you on the right path for anything you want to accomplish.
The only thing that I would add, and I don't know if this was said before, is to keep a healthy lifestyle and stay away from abusing substances that others may try to push on you. Many a career has been ruined due to alcohol and drug abuse and the climb out is very tough and life long. Keep a active lifestyle and include some form of excercise regime. This way you can enjoy life to it's fullest. No matter how much money you will ever make, it will not buy your health back.
Best,
Constantine
11-28-2006, 11:27 AM
#207
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Stock market is paper money, Things can change in a hurry.
Obviosly you do not invest in Realestate. The only big bust that I can remember is California, late 90's. Look what that property is doing now.
Besides, Commercial Retail is my game. I doubt very much people will stop drinking Starbucks and eating at Subway, even if they do, retail ground is hard to find. The American way is the best security there is. Consumers will always spend money. There will always be consumers.
I love people with like you. Keeps the competition down.
Obviosly you do not invest in Realestate. The only big bust that I can remember is California, late 90's. Look what that property is doing now.
Besides, Commercial Retail is my game. I doubt very much people will stop drinking Starbucks and eating at Subway, even if they do, retail ground is hard to find. The American way is the best security there is. Consumers will always spend money. There will always be consumers.
I love people with like you. Keeps the competition down.
As far as what real estate is doing right now, I dont know how else to put this, but have you picked up a newspaper in the last six months? Real estate is getting slaughtered. Further, all leading indicators are showing this is just the tip of the iceberg - home builder stocks have lost over 50% of their value, housing inventories are the highest in ten years, discounts are everywhere to get people to buy, defaults are skyrocketing, almost every mortgage company is losing money or up for sale. Again, this is just beginning. There is still over ONE TRILLION dollars of adjustable rate loans resetting up the the max cap in the next twelve months. Loans that borrowers got just so they could max out their ratios so they could get the house they could not otherwise afford. 20% down and 30 year fixed used to be the norm. Last year, less than 10% of borrowers put down 20%. Negam and IO mortgages were devised to very rich borrowers could arb their money elsewhere. Now they are used to get people into overvalued houses that they cannot afford - to the tune of over 50% of all mortgages in California. So with no money down and negatively amortizing, housing now is just as "paper" as the most far flung start up. If you do any research on histories largest financial bubbles, you will see that the housing has all of the elements to the nth degree. As smart as we thing we are, it never ceases to amaze me how humans make the same exact mistakes over and over.
You mention commercial real estate, and I think this may be the last bastion of rationality left in real estate. The wild card here is what is the housing crash going to do to our economy. I am not optomistic, because unlike the internet boom, which actually created huge amounts of value, the housing boom created none. There is little economic efficiencies created with a larger bathroom or granite countertops. Most of the growth of the last five years have been because of our proclivity to take on huge amounts of debt at both the personal and government level - debt that is going to have to be repaid. Take away all of this money, and you have yourself a nice recession (which the yield curve is already pointing to - but thats another story.) With a recession, there is contraction in the business sector, and the dirt under the stores become less valuable.
You can be sure that you won't be competing with me for a real estate purchase in the next few years, I promise you that.
edit - coincidentally - this was just relased on cnn.
http://money.cnn.com/2006/11/28/news...ales/index.htm
Last edited by NewYorkBuck; 11-28-2006 at 12:38 PM.
11-29-2006, 12:54 AM
#208
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Originally Posted by NewYorkBuck
I did invest in real estate, but have recently bailed when I found the average housing price to income ratio in my area rose to 8.7 to 1. This ratio for the last 75 years in the US have averaged 2.1 to 1. Every time in history the ratio has risen far over this, there has either been a correction or long term stagnation. So no, California in the late 90s is not the only bust. NYC had a major selloff in the early 90s when this ratio got to far out of whack back then. But one should note, even then this ratio did not get any higher than 5:1.
As far as what real estate is doing right now, I dont know how else to put this, but have you picked up a newspaper in the last six months? Real estate is getting slaughtered. Further, all leading indicators are showing this is just the tip of the iceberg - home builder stocks have lost over 50% of their value, housing inventories are the highest in ten years, discounts are everywhere to get people to buy, defaults are skyrocketing, almost every mortgage company is losing money or up for sale. Again, this is just beginning. There is still over ONE TRILLION dollars of adjustable rate loans resetting up the the max cap in the next twelve months. Loans that borrowers got just so they could max out their ratios so they could get the house they could not otherwise afford. 20% down and 30 year fixed used to be the norm. Last year, less than 10% of borrowers put down 20%. Negam and IO mortgages were devised to very rich borrowers could arb their money elsewhere. Now they are used to get people into overvalued houses that they cannot afford - to the tune of over 50% of all mortgages in California. So with no money down and negatively amortizing, housing now is just as "paper" as the most far flung start up. If you do any research on histories largest financial bubbles, you will see that the housing has all of the elements to the nth degree. As smart as we thing we are, it never ceases to amaze me how humans make the same exact mistakes over and over.
You mention commercial real estate, and I think this may be the last bastion of rationality left in real estate. The wild card here is what is the housing crash going to do to our economy. I am not optomistic, because unlike the internet boom, which actually created huge amounts of value, the housing boom created none. There is little economic efficiencies created with a larger bathroom or granite countertops. Most of the growth of the last five years have been because of our proclivity to take on huge amounts of debt at both the personal and government level - debt that is going to have to be repaid. Take away all of this money, and you have yourself a nice recession (which the yield curve is already pointing to - but thats another story.) With a recession, there is contraction in the business sector, and the dirt under the stores become less valuable.
You can be sure that you won't be competing with me for a real estate purchase in the next few years, I promise you that.
edit - coincidentally - this was just relased on cnn.
http://money.cnn.com/2006/11/28/news...ales/index.htm
As far as what real estate is doing right now, I dont know how else to put this, but have you picked up a newspaper in the last six months? Real estate is getting slaughtered. Further, all leading indicators are showing this is just the tip of the iceberg - home builder stocks have lost over 50% of their value, housing inventories are the highest in ten years, discounts are everywhere to get people to buy, defaults are skyrocketing, almost every mortgage company is losing money or up for sale. Again, this is just beginning. There is still over ONE TRILLION dollars of adjustable rate loans resetting up the the max cap in the next twelve months. Loans that borrowers got just so they could max out their ratios so they could get the house they could not otherwise afford. 20% down and 30 year fixed used to be the norm. Last year, less than 10% of borrowers put down 20%. Negam and IO mortgages were devised to very rich borrowers could arb their money elsewhere. Now they are used to get people into overvalued houses that they cannot afford - to the tune of over 50% of all mortgages in California. So with no money down and negatively amortizing, housing now is just as "paper" as the most far flung start up. If you do any research on histories largest financial bubbles, you will see that the housing has all of the elements to the nth degree. As smart as we thing we are, it never ceases to amaze me how humans make the same exact mistakes over and over.
You mention commercial real estate, and I think this may be the last bastion of rationality left in real estate. The wild card here is what is the housing crash going to do to our economy. I am not optomistic, because unlike the internet boom, which actually created huge amounts of value, the housing boom created none. There is little economic efficiencies created with a larger bathroom or granite countertops. Most of the growth of the last five years have been because of our proclivity to take on huge amounts of debt at both the personal and government level - debt that is going to have to be repaid. Take away all of this money, and you have yourself a nice recession (which the yield curve is already pointing to - but thats another story.) With a recession, there is contraction in the business sector, and the dirt under the stores become less valuable.
You can be sure that you won't be competing with me for a real estate purchase in the next few years, I promise you that.
edit - coincidentally - this was just relased on cnn.
http://money.cnn.com/2006/11/28/news...ales/index.htm
Each his own.
My freinds were telling me the same thing 8 years ago when I started. They still work for $80K a year. Most of them lost everything they had on a Tech stock, Except for a couple of them that took the same track I did. They work because they want to. Have plenty of $$ for there kids college, vacations etc.........
Call me in 10 years, I bet my realestate investments will be hold up just fine. Oh........ good luck finding me while I am............... hunting, racing, fishing, golfing, skiing, surfing, at the beach or just hanging out at one of my 4 houses.
Good luck,
Joe
11-29-2006, 01:15 PM
#209
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Originally Posted by RS 197
Here is how you do it. You buy one house at a time. You work hard and save your $$ for the down payment. Put at least 20% down. Be willing to work hard on the weekends to attend to you properties. You rent out the houses for at least a break even. You do this until you have enough property to upgrade. Tax Fee exchange into a multi family unit. 4 plex or greater. Then you sell those and get into retail. Stay focused and study the market. You will succeed. Turn your primary residence every 2 years. Take the income from your house tax fee and re-invest. In the right market you can make $50k a year just from appreciation.
Start your own business some were in the Reals estate world. Construction, Development, Real estate, Property Management. These businesses give you the inside track on the market.
Start early. When all my Friends were touring around Europe on there parents dime I was working 60 hours a week saving $$ to buy properties.
Get your credit started early. Get a credit card and a car loan and pay every payment early. Without good credit you are screwed!!! I had my first house loan at 17.
Have a partner that is as dedicated to being as rich as you are. They must be focused. My first wife spent all her $$ on crap, she only lived in the present. That is why it did not work. Your partner must have the same goals or your plan will be sabotaged. New wife talented and on the same page. Big help when she pulls down good money to help the cause.
Never count on your parents or grandparents to save the day. Sure you will probably inherit a little bit, down rely on it!!! All my Trustafarian Friends that are waiting for there parents to kick down have miserable lives. Do it on your own. Test yourself, you might be surprised with the outcome.
You need one lucky break, you will know it when you get it. don't **** it away. I will guarantee you every CGT owner or Multi Millionaire on this board can look back on one good break they had that got the ball rolling.
Long story short. From 19 to 36, 15 million in net worth, Will be triple that in the next ten years. My biggest break was the love of my life with the same goals and more talent.
Real estate. It works.
CGT is on the list. Still focusing on Vintage Porsche's before there all gone.
Joe
Start your own business some were in the Reals estate world. Construction, Development, Real estate, Property Management. These businesses give you the inside track on the market.
Start early. When all my Friends were touring around Europe on there parents dime I was working 60 hours a week saving $$ to buy properties.
Get your credit started early. Get a credit card and a car loan and pay every payment early. Without good credit you are screwed!!! I had my first house loan at 17.
Have a partner that is as dedicated to being as rich as you are. They must be focused. My first wife spent all her $$ on crap, she only lived in the present. That is why it did not work. Your partner must have the same goals or your plan will be sabotaged. New wife talented and on the same page. Big help when she pulls down good money to help the cause.
Never count on your parents or grandparents to save the day. Sure you will probably inherit a little bit, down rely on it!!! All my Trustafarian Friends that are waiting for there parents to kick down have miserable lives. Do it on your own. Test yourself, you might be surprised with the outcome.
You need one lucky break, you will know it when you get it. don't **** it away. I will guarantee you every CGT owner or Multi Millionaire on this board can look back on one good break they had that got the ball rolling.
Long story short. From 19 to 36, 15 million in net worth, Will be triple that in the next ten years. My biggest break was the love of my life with the same goals and more talent.
Real estate. It works.
CGT is on the list. Still focusing on Vintage Porsche's before there all gone.
Joe
Joe, your original post still shakes me up every time i read it - what an amazing story! even though you speak so much about hard work, when i read it it sounds so "easy"...maybe you could share with us some of the harder times or a situation where things *didnt* look so good?
11-29-2006, 02:45 PM
#210
928 Barrister
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RS 197 said: "...... You work hard ......"
I can't agree more. In fact I can't agree more with most all of what you said. I found one property a year ago that appreciated $100,000 + in 6 months ! I am still bleeding to keep it and develop it. Every day is a battle. So what? What else would I do? Sit on the beach? Beg, steal, cheat, lie what ever to make the payments and watch the thing grow. (well, no stealing or cheating).
Looks like you found the right female too. I don't know anyone who has made money in real estate without bleeding. No pain no gain. But it is possible if, as you say, you remain focused.
And I agree about partners: be careful. Let me repeat that: be careful. Check out your potential partners carefully, or manage yourself. Suffer the process alone if you can. A bad partner can ruin your life, or a part of it. Don't ask how I know.
I can't agree more. In fact I can't agree more with most all of what you said. I found one property a year ago that appreciated $100,000 + in 6 months ! I am still bleeding to keep it and develop it. Every day is a battle. So what? What else would I do? Sit on the beach? Beg, steal, cheat, lie what ever to make the payments and watch the thing grow. (well, no stealing or cheating).
Looks like you found the right female too. I don't know anyone who has made money in real estate without bleeding. No pain no gain. But it is possible if, as you say, you remain focused.
And I agree about partners: be careful. Let me repeat that: be careful. Check out your potential partners carefully, or manage yourself. Suffer the process alone if you can. A bad partner can ruin your life, or a part of it. Don't ask how I know.