Posted by jasonrei on June 21, 2004 at 08:31:30:
Right now I buy notes from rehabbers. I used to flip note purchase contracts. I’d buy a list and do mailouts and make phone calls. Learned how to do that the right way from books, note newsletters, audiotapes, etc.
It is a skill, but a fairly easy one to acquire. You should ask the question on the notes forum. Might wanna read other posts in there.
How would you create a portfolio of $1,000,000.00 - Posted by bmeesh
Posted by bmeesh on June 15, 2004 at 07:14:32:
I thought this might be interesting to see what creative ways people build their portfolio…mixes, cash flow etc…
here’s me - Posted by jasonrei
Posted by jasonrei on June 15, 2004 at 20:28:41:
One word- plastics.
But seriously… buy, rehab, and sell. take proceeds and invest in RE notes. that’s what i do.
I get my income from rehab sales. I reinvest income from notes, or I get straight notes that compound monthly.
Wrong Goal… - Posted by David Alexander
Posted by David Alexander on June 15, 2004 at 18:20:15:
Creating the portfolio of 1 mil isn’t hard…
But, I can tell you…
It’s absolutely the wrong pursuit… focus on Cashflow, Cashflow… and more Cashflow… and getting good returns on the equity and assets you create…
The rest will fall into place…
Focus on building net worth… and I assure you… you will mislead yourself…
You can be a millionaire… and not have cashflow or peace of mind…
David Alexander
Determination - Posted by Alexander (FL)
Posted by Alexander (FL) on June 15, 2004 at 17:18:26:
You can create a “portfolio” of real estate very quickly when you buy one house valued at $1,000,000. In order to create a net worth of $1,000,000 it’s an entirely different scenario.
It took me 4 years to create that $1M net worth with a combination of rentals, renovations, notes and flips.
That was 3 years ago.
Re: How to create a portfolio of $1,000,000.00 - Posted by sptk
Posted by sptk on June 15, 2004 at 15:55:46:
Leverage and a couple decades of your life.
give me million first, then I tell you - Posted by vlad
Posted by vlad on June 15, 2004 at 15:15:33:
give me million first, then I tell you.
vlad
Re: How would you create a portfolio - Posted by Ken (Fl)
Posted by Ken (Fl) on June 15, 2004 at 13:10:20:
I would use acrylics or oils. I haven’t really mastered the watercolor techniques yet.
Sorry, I couldn’t resist.
God Bless,
Re: How to create a portfolio of $1,000,000.00 - Posted by David (Los Angeles)
Posted by David (Los Angeles) on June 15, 2004 at 07:20:11:
Might as well get the standard method out of the way: start with a portfolio of $2,000,000.00.
where do you gind the notes? - Posted by Bill Taylor
Posted by Bill Taylor on June 20, 2004 at 22:51:15:
I am interested in notes and how do you buy them and how do you know the good ones from the bad?
Re: Determination & Persistence - Posted by Sean
Posted by Sean on June 16, 2004 at 09:13:18:
Bmeesh,
Agreed, the most important thing is to not quit, do something every day, even if its something small. If you do something every single day, you will eventually reach the end… I see too many people go out all a fire and then do nothing for 3 months, then do stuff for a month then nothing for 3 months…
If you just do a little bit every single day, but make an absolute point of doing SOMETHING every day, you will move forward… and a few years down the road you look back and realize how far you have come.
Everyone can’t be “on” every day, but if you make an effort to just do one thing every day, you will move forward. Now the more you do every day the faster you will move forward, but the important thing is that you just do something every day.
Re: Determination - Posted by Sam
Posted by Sam on June 15, 2004 at 18:07:57:
Hi, Alexander,
Could you share a little bit of your experience how you created $1M net worth in just 4 years? I am trying to figure out how to start and think the better way for me is to buy a couple of small multi-family rentals each year for 4-5 years. Thanks.
Sam