Posted by Man.P on June 18, 2005 at 01:48:11:
Absolutely.I have a friend in Cali who makes about 2 mil. a year just from rehabbing.Those numbers in Cali will put a few tons in each of your pockets!Nobody doing short sales with some impressive numbers?
Income Potential!!! - Posted by Manny P.
Posted by Manny P. on June 17, 2005 at 17:35:21:
I was just wandering what other investors are making on AVERAGE only in their REI business.YOu dont have to state your exact income just average.I for instance average about 400,000 a year.Best year was around 700,000.All rehabs and wholesales.So if you dont mind letting me know and how you reach this income that would be great.Iam looking to getting into short sales and increasing my current income,so if anyone specializing in short sales would share this info that would be great as well.
Re: Income Potential!!! - Posted by Mike (Seattle WA)
Posted by Mike (Seattle WA) on June 17, 2005 at 18:27:03:
Ok, only part-time and 7 months doing it.
Cashflow break even with 2 L/O and a straight Rental that negative cashflows because of a huge cash-out loan I took for other investing.
Equity increase 300K so far from the above deals, plus a little cash from a fixer and a flip. By year’s end, I should have another 40K cash from another (nasty) fixer and 60K equity with deals on the table right now in escrow not including appreciation on the above props. Who knows how much more in the next 5 months!
Isn’t REI awesome? Just waiting for my company to be solvant for 2 years or having some decent bank LOCs to work with before going full-time. Don’t want to cut my capitol off.
Re: Income Potential!!! - Posted by Ananomis-New-Jersey
Posted by Ananomis-New-Jersey on June 17, 2005 at 17:42:49:
Made 610K last year - doing it fulltime. I put a little from eachh deal into an ad budget. This income was from 16 wholesales deals, a bunch of L/O’s and 9 Sub’2. Also, included in the 610K, was 136K from a house I sold. I held this one for 2 years.
Re: Income Potential!!! - Posted by adam
Posted by adam on June 17, 2005 at 20:12:29:
i would have everyone state where they are located, as people in cali and florida numbers can be in the 6,7 figures but that would be unrealistic for other parts of the country.