Re: In a word… - Posted by Steve (Atl)
Posted by Steve (Atl) on May 06, 2003 at 20:47:15:
I can’t speak for anyone else, but I do this full time (have been for the last 8 years). As far as what I make, I think that it is more to it that what is on my tax returns. It is the freedom that affords me the ability to take my wife and kids to the beach on a minutes notice, go skiing in the Rockies on a minutes notice (assuming there is snow…HAHA), spending time at our lake house when we feel like it, buying my dad a new truck because I want to, etc. I am sure that you get the picture. All of this is a little more than a paycheck to me. But I will tell you this. I make the bulk of my money on my option fees and deposits. Use my tenants payments to pay down my mortgages (I have set aside several houses a year that I plan on keeping for longterm). By the time I am 50, I will have accumalted about 30 houses that will be free and clear (average value = 150K). The rest I sell on land contract / wraps, or lease options. Real estate has been good to me.
Just the way I view things…