Re: Can This Deal Work? - Posted by Dan B.
Posted by Dan B. on January 16, 2002 at 16:16:47:
Well, I have to say that I have not seen this much tap dancing since Riverdance was on Broadway. I was really surprised by the lack of factual info in these replies, since this board does such an excellent job with most any other RE subject.
I am a new investor, and have not sold a house yet. Last year (2000 tax year, actually), I made $140K at corp job, and in July of 2001, got canned with all the other dot-bombs. I did not consider REI until about a month ago, and began to read, look at houses, and make offers. I would really like to know what the ramp up time is. I have already read all the posts about it taking work, depends on me, yadda yadda. Guess what, same with corp. America. But there, when you launch a new product or service, you look at actual numbers from competitors, partners, etc., just as we could here, if we were so inclined. You take these numbers, and you make assumptions about how they apply to your situation, and then make projections about what your business might do.
Sooo…On average, for people who began in the last two years, how much did they make in year one, and how much in year two. There will surely be a big spread, but it will help people understand. If NO ONE has achieved $140K by end of year two, then I know, in all likelihood, I won’t either. But if the range is $50K to $100K, and I need $90K to survive, then I know I have to be better at this than 80% of the other players (of course, assumes normal dist).
So, I think the question is, are the full time investors willing to put actual numbers up, so we can evaluate objectively, the earning patterns for new investors?
This can be done quite anonymously, as no one really needs to know your personal business.