How much… - Posted by Jason-Il
Posted by Jason-Il on July 31, 2004 at 09:23:58:
There are investors that are making more money doing real estate than some very successfull lawyers, doctors, engineers…
Exactly how much are you making as a CPA?
Re: A rant to clear my mind - Posted by Mike
Posted by Mike on July 30, 2004 at 18:59:14:
Lol - You just described my business. Hope I don’t step on your toes 
Re: A rant to clear my mind - Posted by kwack41
Posted by kwack41 on July 30, 2004 at 20:30:13:
I’m agree with those that believe the new investors of today are our future deals of tomorrow.
I just started 4 short sale packages today with an investor that jumped in 2 years ago. His properties have been on the MLS for 3 months and can’t sell because he over paid and over leveraged. Another has already gone back to the bank.
I sure hope I can help him.
Re: A rant to clear my mind - Posted by Carl CA
Posted by Carl CA on July 30, 2004 at 19:30:21:
John,
It’s true you really never know where the next property is coming from.
While working on a rehab last year, I had a guy walk up to the job site because he wanted to take a look at my cargo trailer that I carry my tools in. I was obviously a little wary, but the guy seemed legit. After talking a few minutes, he got around to asking me what I did. I told him, then he asked me to take a look at a house he owned that I might be interested in. Long story short, two months later I owned it. Made a little over $30k on that rehab.
I still shake my head about that one. What dumb luck…
Carl
Re: C’mon Tom… - Posted by Hank
Posted by Hank on July 30, 2004 at 14:50:38:
do you actually read entire posts, or do you start to type a response around the half way mark?
Re: A rant to clear my mind - Posted by Bob
Posted by Bob on August 01, 2004 at 03:00:34:
>I finally found a good solid niche that seems to be working very well. It took a lot of time and money to find it.
>I’m glad I didn’t give up.
So is it a trade secret? Would you care to enlighten us?
Re: A rant to clear my mind - Posted by DP (ON)
Posted by DP (ON) on July 30, 2004 at 13:43:41:
That explains why you’re a fat bald slob (re: your email address).
Re: 5k a deal,no way - Posted by Dan-Fl
Posted by Dan-Fl on July 30, 2004 at 14:50:06:
To many things can come up and wipe that 5k out.I won’t do a rehab unless I make a 20k profit.To many things can go wrong and I’m not a newbie,6 years fulltime.Yes deals are harder to come buy now days,but 5k a deal-not a chance.
Re: A rant to clear my mind - Posted by Tom-FL
Posted by Tom-FL on July 30, 2004 at 19:11:36:
– study a couple of real estate curses –
Those curses will get you every time.
A Case Study on Irrational Exuberance… - Posted by GB
Posted by GB on July 30, 2004 at 18:15:50:
Good work, James!
I just did a similar deal with a package of houses. The poor seller was
a rookie investor just a few short years ago. I heard all the stories
about the courses he bought, seminars he attended, clubs he joined
and so on. His goals and dreams were grand, and he repeatedly spent
thousands on this material to enthuse and convince himself that what
he planned to do was fun, easy and the best way to become “rich.” He
decided to dive into the business head-first and buy 14 rental houses.
His emotional attachment, skewed knowledge, lack of experience and
loss of control allowed both him and his properties to get “shredded”
by the occupants. In truth, seeing him at the closing was one of the
saddest things I’ve witnessed. The guy’s ruined.
When it was all over and we were walking out to our cars, he motioned
for me to come talk to him. Said he had something for me. I
reluctantly walked over to him, not knowing what in the world to
expect. He hoisted a large package out of his trunk and said “Here-
maybe you’ll have better luck with these than I did.”
A stack of I Buy Houses signs.
GB
P.S. I got all 14 houses for an average of 73% of what they’d quickly
sell for as-is.
Re: A rant to clear my mind - Posted by Stew(NE)
Posted by Stew(NE) on July 30, 2004 at 12:43:26:
I remember sharing a lot of information with a “new investor” and they asked me why I shared it with them. They said now I am YOUR competition. I laughed and said,"You haven’t bought 1 House, YOU are not my competition. Go buy SOMETHING. This is the problem with most newbies, they think by wanting to do something you have done it.
Re: How much… - Posted by Tom Bazley, CPA
Posted by Tom Bazley, CPA on July 31, 2004 at 13:38:58:
It doesn’t mater how much I make, & I’m certainly not going to post that info on a message board. What matters is that being a CPA is the career I’ve chosen, it’s what I enjoy, & I’m not giving it up to be a full time real estate investor. I could probably make more money as a surgeon too, but I’m not going to pursue that field.
Re: How much… - Posted by Halley (NM)
Posted by Halley (NM) on July 31, 2004 at 09:54:39:
I expected someone to respond like this. lol.
Re: A rant to clear my mind - Posted by DP (ON)
Posted by DP (ON) on July 30, 2004 at 19:56:39:
Ouch! Was that you?
You know exactly what I’m talking about then. As I’m writing this there are currently over 500 houses in my immediate area within my price range, begging for buyers on the MLS.
The question is… how many $400/mo income streams do you want?
Actually… - Posted by rm
Posted by rm on August 03, 2004 at 21:29:02:
the modus operandi is, “See what you want to see, hear what you want to hear and lash out accordingly.”
Re: C’mon Tom… - Posted by Nike
Posted by Nike on July 30, 2004 at 15:01:50:
I was responding to Tom- addressing his breathless concern regarding competition. What don’t you understand? Do you disagree with what I said? Or are you one of the little complainer’s who can’t find a deal and is too busy sucking his thumb to do anything?
Re: A rant to clear my mind - Posted by Jack
Posted by Jack on July 30, 2004 at 15:38:33:
His name is Jack too. Get it, Jack!. Hee Hee Hee
You don’t understand… - Posted by rm
Posted by rm on August 03, 2004 at 21:27:19:
Saying that you like what you do for a living is heresy on this board (unless you are a FT RE investor).
Re: How much… - Posted by Dave-Fl
Posted by Dave-Fl on August 01, 2004 at 21:20:02:
I would probably enjoy wearing chaps and having women stuff dollar bills in my g-string more but in all honestly why bother? It’s all about the benjamins baby!
$400/mo profit on each house? Wowza! - Posted by Joe (Oh)
Posted by Joe (Oh) on July 31, 2004 at 08:03:33:
you must have a killer market for tenent buyers willing to pay that much over, on a 100k house, what do you usually pay on the piti? and how quickly do you get your houses filled?
Also, do you find the seller, and pay 5-10k less than market value with a bank loan, and then put a t/b in the house like that?
Thanx-