So, why don't you study personal finance and investing /b/ros? Do you really want to die poor? Do you want to be dependant on the government or your family just for survival one day?
Done and done. I've been FI for a while now
I saw this anon in another thread and it inspired me to get into real estate. My house apprases at just under 300k and i recently paid it off. I am downgrading and using about 100k for down payments on rental houses.
My friend is a contractor and said we will work out a deal for repairs. I pretty much habe to do nothibg bit come up with creative ideas for cheap and unwanted properties.
I hope you anons descide to do the same. I am very excited. And if i fail miserably then well, i have a slightly less nicer house. Oh well. Time to try something else. I refuse to retire old and tired. I want to do it now.
>>768016121
Nice work anon! Any fun stories or advice for us noobs?
How did you do it?
Because of my low iq
>>768016135
Yikes, RE investor here. I'd take this guy's post with a grain of salt. Cheap deals aren't necessarily good deals.
>>768016195
It was all about real estate for me too. Worked my tech job, saved as much as I could and bought rentals. Still working, but now I'm putting cash into index funds so I can get a bit more liquidity. It's a waste to pay off a mortgage considering how low the rates are, so if I have a few hundred k in mortgages and a few hundred k in an index fund, I'll consider myself F&C while still maintaining a healthy debt level.
>>768016289
I almost failed high school and dropped out of college before the first semester was over because i couldn't pass math class. I male about 35k a year but i have friends that know welthy people. Its funny one of them told me that B students wind up blue collars and the A's white collars.. And if you are a motivated C or D student then you can hire the A's and B's.
I think part of the reason i am so excited is because of the possibility that I, a brainlet, can be free from a job if i try hard enough.
>>768016356
I figured cheap deals are cheap for a reason. Was interesting to see him so autistically excited about buying a junk house. Then i thought about a house on my block that everyone hates. I have been considering to buy it and take it down. Parking is very bad here. If i make it a gravel lot a lot of people around said they would pay $25 a month for a parking spot. I think there is room for about 20 spots. A friend of mine said that i can spray it so grass doesn't grow and just fix pot holes once a month with some gravel and my pickup. If i assume 15 spots always rented that is $375 a month. I think they want $20,000. For it but i maybe can try it cheaper. I heard that it may go to a real estate auction soon. From what i am told people stand there and bid. If nobody has bkught it for $20,000 yet i will assume i could get it for even less.
I still havw work to do to figure out the propwrt taxes and if i will be allowed to make it a small parking lot, but it does give me hope and it's a small risk as i can always sell it.
itt we are from wisconsin and suck the dick of the dow
>>768017305
I don't understand. The dow being Dow Jones?
>>768017305
Wisconsin anon lurking
>>768017473
Wisconsin eh? My friend has a business partner from there. He brings his friends down sometimes just because they don't believe the redkneck shit that we do. It's a lot of fun to learn how they invest in things while anon is standing on the roof of the house and we are beer bong tallboys out of taped together fun noodles.
>>768015887
How do I get started? Seems like there is so much to learn. Beginner tips?
>>768018078
I'm not sure for other things, but for real estate, register on biggerpockets.com. You will literally never run out of information to learn.
>>768018210
Thanks nigga.
>>768018078
No idea yet. Just excited that even poor retards like me can be sucessful. I spent $150 on used investing and real estate books from amazon.
My friend's dad has a few rentals and a property management company. I will talk to him soon also
>>768018210
Thank you anon. OP will do that. He is also a phone posting faggot and cannot bump
How much would you say you need in the bank to get started?
>>768018021
It's funny. Those guys are baffled but it's just a Friday for us. One anon wanted to tale his dog up there and i said no. So we compromised and bolted a big cable between 2 trees above the house. Put cable stops on the ends and made sure the cable leash we made wont let him reach near the edge. Now the dog just chills on the roof a lot while we zipline beers from the barn loft to the pourfag.
>>768018762
I think it's common to have a 20% down payment for a home loan bit there are supposed to be ways around that. Not sure how though.
>>768018762
It really depends on what you want to start on. For just a straight-up rental, I'd say at least 15-20k for a downpayment on a sub-100k home plus a decent W2 salary and excellet credit for the mortgage. If you want to do something like wholesaling, only a few thousand and about 20 hours a week would work. A flipper, you'll want more, maybe 75k or more as collateral for the loan. But the cheapest I've seen is what I'm trying these days, doing land investing. So far I've spent less than $500 just to get a phone number, some course material, a mailbox plus a few lists. Who knows if it'll take off, it's just month one, but there's people that have cleared 10k on their first purchase.
Why not escape the desire for money? That is the true path to wealth
>>768019119
Ah, I forgot one of the potentially best ways, house hacking. Wish I would have done this. For that, you could get away with as little as 5-10% of the purchase price since it's your primary.
>>768019119
Shit anon. Please do keep us updated. I would be very interested to learn.
People talk shit. I been to 3 mlm seminars. 2 wound up scams and the 3rd is doing well. A friend of mine quit her job and makes a little more than her salary at the moment.
As they say no risk no reward. I spent $600 on a course about credit cards. I went from cutting them up to havibg 7 and a 780 credit score.
Feels Goodman
>>768019281
But money buys happiness.....
Lololol
>>768015887
Just wanna live it up til i die, dont really wanna live past 26 but im not going to kill myself or anything
>>768019281
Because i need money to live. I want my wife to have a nice house and car. My father in law has no retirement. I would like to pay him to manage a small operation and buy him a descent home to live in so he doesn't wind up on the streets.
I could give a shit less about the money really. I want freedom for me and my family and friends. And to get it while living our current lifestyles i need money. I need a lot of money.
If my nephew in 15 years says uncle Anon, i really want to be a doctor but my dad is an utter and complete fucking faggot. I can't afford it or get financial aid.
>sure nephew. Here is a weekly allowance, apartment, and med school.
Put it in paper he finishes or owes me back.
I don't want my family spoiled brats. But i want people to have opportunities and freedom that i never did.
>>768019351
House hacking??
>>768019632
As they say, money doesn't buy happiness but it can buy you a jetski. You ever seen anyone on a jeski unhappy?
Money may not by my happiness, but it will buy me freedom from wageslavery. I would say that is a substantial life goal worth pirsuing.
>>768019491
Well, I've been toying with the idea of starting a podcast or youtube channel about the business, but so far I have not. But if you want to keep in touch, drop a disposable email and I'll reply back
>>768019888
That's what they call it. Basically, from a mortgage perspective, any dwelling that is 4 units or under is treated similarly to a single-family home. That's the key to the whole thing. So, people buy a 2,3,or 4 unit building, move into one unit and rent out the others. Done right and with a little luck, you can knock out your entire housing cost in one purchase. Doesn't work as well in higher-cost markets, but is still an ok strategy.
>>768017260
>if i will be allowed to make it a small parking lot
Chances are this will be the downfall. Planning permission is a real bitch, and be very expensive to get through local government. Entire multi-million dollar projects grind to a halt because they got planning permission that uses one particular material and now can't get enough of it so have to go through the entire process again. If a large company has these kinds of problems, you're going to struggle as well. Good luck anon!
>>768019834
I thought that to. I make like 40k maybe. I work overtime most weeks. When i asked a wealthy man recently how hard it would be to just make like 30k and not have a job he said it wouldn't be easy but it would be worth it. Because once i could make 30k its just as easy to make 300k
I cant imagine making 10 times my living wage. I could buy 10 times the vehicle and house i have. And STILL fuck off 10 times the money that i do.
I didn't ask him how much he made. But he laughed when i said that. He said once i learned to invest then i would be happier with a descent new used car and house and putting the extra money into making even more money with less work.
I hope to see him again soon. It gave me hope that i wont die poor after working all of my life to make other people rich.
>>768020077
Interesting. In my area i would have to build it. But having a nice house with no mortgage payment would be really cool. [email protected] is my throw away. I forget to check it a lot but will try and do it more.
Even if you get 0 youtube hits i think it would be worth it. A friend of mine made some really rich friends in college. He says its not what you know but who you know. Things are a lot easier the more connections you have. Maybe you coukd find a business partner in the future from it?
>>768020139
Well. My area doesnt really have any laws on this. Its just a group of people in the county that would say no. But it would improve the property a little and the neighborhood already seems like they would help push for it.
>>768016289
>Think IQ has anything to do with anything
IQ is a bullshit measurement, kinda like those what kind of vegetable quizzes are you on buzzfeed. Look up Dr Gardner's 8 types of intelligence (the 9th is highly debated), analyse them and understand where your limit is for each one (this is pretty hard to do, because you can't know where the limit is if you don't understand the fields they apply to). The point is, intelligence is measured in more ways than a stupid little test. You're good at something, and if numbers and finances aren't your thing then something else is - and you can almost certainly use that something else to make money.
Also its worth noting that regardless of how stupid someone thinks they are, you can always learn with a little dedication and an internet connection.
>>768020590
Fair enough, I'm from the UK and I've seen a lot of home projects fail due to planning permission issues. If you can get the people immediately surrounding the area to sign off on it BEFORE you go through the official paperwork side of things and go in with a plan, you should be okay.
>>768020509
Ok, I've sent you my email. Yes, maybe it would be worth it. I do have quite a few connections at this point, but the more the better. I already have a partner with the land stuff, but if it gets going, I can see us needing a capital partner, or at least a stout line of credit.
>>768020695
True. My dad dropped out of school in 8th grade. He makes good money and i will never forget the day i realized just how good of a mechanic he was. Someone brought a big truck over when i was about 13. 3 people have looked at it and couldnt figure out what was wrong. Dad looked at it for 5 minutes. Said well, its either this or this. Will let you know tomorrow. Tells me 90% sure its blown. Nex morning unscrews oil plug. Antifreeze comes out.
>well fuck, anon get me a 5 gallon bucket.
I get bucket. Anon hand me a rachet, extention, 9/16", 1/2", 3/8" socket. Hand me a flat head screw driver and a 1/2" wrench. Takes both heads off without needing another tool. Throws all the small parts and bolts in the bucket. Clean heads off.
>yup, blocks fucked.
We pull motor out, go to junkyard and get another one. Put it all back together. Fires right up.
Not even an 8th grade education. I king of postapoctalyptic world.
>>768020787
Cool. Will do. And will put a small few page plan together to give the people in charge and get feedback before i even bother.
>>768020973
Well, one of my best friends is a pretty solid attorney and i know guys with deep pockets if we can get our shit together...
>>768019871
If that's what you want, or think you want...but it won't make you a fulfilled and happy person. Simply because money is not human. Accepting loss will make you a happier person.
>>768021734
I'll keep you in the loop. Why don't you reply to my email and tell me a bit about yourself. Maybe we can do some projects.
>>768021607
Mechanics made INSANE amounts of money if they're good.
Good thing to follow if you think you're not smart enough for a career in STEM - learn a trade skill. Plumber, electrician, mechanic - anything that the demand will never die for. Even if you're more of a creative type and want to make art for living, it will pay you well to learn these skills or something else well paid. Making up the capital for your dreams is the hardest part, and you want to get yourself into a career that will get this part out of the way as fast as possible so you can enjoy things in later life when you've got much less energy.