Re: Real estate brag...
 

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All possible, but you've gotta take shots. Gotta have the balls to take risks to become wealthy... a 5% bank acct isn't going to cut it.

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Word, I'm going to go take out a $500k loan and put it all on red. You gotta have the balls to take risks to become wealthy.

Also, I'm kinda guessing that ggbman is already moderately well to do.

Re: Real estate brag...
 

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I'm guessing the second one wasn't really all that great.

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lol

Re: Real estate brag...
 

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So how do you know it's a great investment? What if the tenant moves out and it's empty for a few months? What if it gets trashed by a bad tenant? What if it doesn't appreciate like you think it will?

These things aren't possible?

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so is him dying in a car wreck tonight...sometimes stuff just happens and there's nothing you can do about it, but usally a smart investor at least prepares to the best of their ability for a misfortune.

congrats at starting at 20...and congrats at ACTUALLY starting, I talk to so many 20-30 year olds that "want to start" but never do. Trust me, it gets SOOO much easier from now on. Actually buying the first place is BY FAR the hardest part.

Re: Real estate brag...
 

win/win, even if you lose it'd make a bitchin bbv thread!

Re: Real estate brag...
 

[ QUOTE ]
So how do you know it's a great investment? What if the tenant moves out and it's empty for a few months? What if it gets trashed by a bad tenant? What if it doesn't appreciate like you think it will?

These things aren't possible?

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ya, it's also possible for the stock market to crash and for him to go on a huge downswing in poker. That's probably why he's diversifying his poker winnings (I'm guessing he's got some money in stocks as well) which is smart thinking.

Re: Real estate brag...
 

[ QUOTE ]
[ QUOTE ]
So how do you know it's a great investment? What if the tenant moves out and it's empty for a few months? What if it gets trashed by a bad tenant? What if it doesn't appreciate like you think it will?

These things aren't possible?

[/ QUOTE ]

so is him dying in a car wreck tonight...sometimes stuff just happens and there's nothing you can do about it, but usally a smart investor at least prepares to the best of their ability for a misfortune.

congrats at starting at 20...and congrats at ACTUALLY starting, I talk to so many 20-30 year olds that "want to start" but never do. Trust me, it gets SOOO much easier from now on. Actually buying the first place is BY FAR the hardest part.

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I'm not saying that it isn't good that he took this step. Chances are, it WILL appreciate and he'll do just fine, but it just sounded like he was a little naive. This tends to happen when you make a [censored] of money playing poker and just start throwing it into investments that you really don't know anything about. Having money, especially seemingly easy money, can make people think they are experts all of a sudden.

Re: Real estate brag...
 

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
So how do you know it's a great investment? What if the tenant moves out and it's empty for a few months? What if it gets trashed by a bad tenant? What if it doesn't appreciate like you think it will?

These things aren't possible?

[/ QUOTE ]

so is him dying in a car wreck tonight...sometimes stuff just happens and there's nothing you can do about it, but usally a smart investor at least prepares to the best of their ability for a misfortune.

congrats at starting at 20...and congrats at ACTUALLY starting, I talk to so many 20-30 year olds that "want to start" but never do. Trust me, it gets SOOO much easier from now on. Actually buying the first place is BY FAR the hardest part.

[/ QUOTE ]

I'm not saying that it isn't good that he took this step. Chances are, it WILL appreciate and he'll do just fine, but it just sounded like he was a little naive. This tends to happen when you make a [censored] of money playing poker and just start throwing it into investments that you really don't know anything about. Having money, especially seemingly easy money, can make people think they are experts all of a sudden.

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I know it's a great investment because i studied

1.) local real estate market
2.) the average rent relative the mortgage
3.) Occupancy rate
4.) Worst case scenarios assuming market crashes, extended periods of vacancies etc...
5.) tax implications
6.) The management company who runs these

and everything else you can [censored] imagine. The is risk in any investment, a prudent investor just finds the oppurtunites with the best risk/reward ratio's and I did that very well here which is why it's a gerat investment.

Re: Real estate brag...
 

OP needs to take some steps to ensure that he has enough back up liquidity, just in case. Set up a company and get as much unsecured lines of credit approved now in case you have cash flow problems in the future.

Re: Real estate brag...
 

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OP needs to take some steps to ensure that he has enough back up liquidity, just in case. Set up a company and get as much unsecured lines of credit approved now in case you have cash flow problems in the future.

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Nah, he knows it's a "great investment" because he studied. No need for a backup plan.

Re: Real estate brag...
 

if ever there was a time for the reemergence of ILOVEGGBMAN ACCT