Re: How about Fred Trump? $24,000,000 A MONTH - Posted by GL - ON
Posted by GL - ON on March 21, 2003 at 08:25:31:
If those apartments rent for $1000 each that makes $24,000,000 a month income. If his expenses are 45% (industry standard) that leaves $13,200,000 a month net income or $158,000,000 a year.
Thats’s SOME portfolio.
Re: GOOD REI ideas? - Posted by GL - ON
Posted by GL - ON on March 20, 2003 at 20:36:25:
This is too obvious but… in the example I gave, the $18,600 would be your profit. You would still have the $2500 you started with so you would have $21,100 all told.
Check out some actual prices and you will probably see that you can do better than that.
Re: GOOD REI ideas? - Posted by ShELToN _n_VA
Posted by ShELToN _n_VA on March 20, 2003 at 20:02:35:
thanx for advice. I think now is the time I start doin some research on Lease/option.
Not Quite As Much - Posted by Rick(MD)
Posted by Rick(MD) on March 21, 2003 at 09:59:31:
Hey GL,
Though Fred’s wealth was very impressive, the following
account of his life indicates that your numbers might
be on the high side.
Thanks for bringing up the topic though. It shows what
can be accomplished in this business.
“Fred, was a house builder who made his fortune from
the ambitious government programs of President
Franklin Roosevelt?s New Deal. Fred built thousands of
homes for ordinary people in Brooklyn, and through a
network of political ties he accumulated huge
government housing subsidies. By the time of his death
Fred?s fortune was estimated to be between $250 and
$300 million.”
http://abcnews.go.com/sections/business/TheStreet/hottopics_000915.html