Re: Prop bet?
 

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Rika,

Would you be down for a sick prop bet? We each put aside X amount of money. We can only use that money for real estate, and can't add to that money. End of 1 year person with the most amount of money from the start-up capital wins. You game?

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to be honest challenges like this come up all the time. I'm personally not a big fan of them, because I'm so distracted.

What I mean by that: I still consider myself a professional poker player that is just active in investing...not someone that is an investor and does poker on the side (hope that makes sense)

Also I currently "manage" all of my places, so that means I'm dealing with evictions, people who piss on the carpet (read a past beat post by me) also people who sneak in dogs, etc. etc.

So for me to truely compete, I would need to give it all up (it's way more +EV for me to play poker, and be very passive in my investments, hiring a manager etc.)

Now if it's a "real estate" only thing...I'd lose, because I'm too active in other areas. If it's a competition in ANY area, then I might be interested. Cause right now, day trading and poker are HUGE %'s of my income...without them I'm really just a "modest" investor.

Re: Just got apartment # 5....3 more till retirment
 

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Hmmmm.... Wow. So, if I may be so bold to ask, how did you come about owning 5 apartment complexes. Don't they cost, like, a bunch of money, even small ones?

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Poker has been very kind to me this year. yes it can get expensive to "jump in" especially if you put 50% down (like I had to on my first place) but don't be intimidated. Start small...buy a single family home and rent it out if you want. Nothing wrong with "building up" I just kind of "jumped in" and was very much GOGOGOGOOGOGOGO [img]/images/graemlins/wink.gif[/img]

Also I made a bunch off of oil this year, so that was a nice boost [img]/images/graemlins/wink.gif[/img]

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Ahh, i'm pretty ignorant when it comes to real estate it would seem. My kneejerk response is imagining you plunking down the full price for a complex, without loans or any other system. But congrats, using the poker money and turning it into this is awesome.

However, my curiosity is piqued again and I have to ask about the oil. Story?

Re: Prop bet?
 

[ QUOTE ]
[ QUOTE ]
Rika,

Would you be down for a sick prop bet? We each put aside X amount of money. We can only use that money for real estate, and can't add to that money. End of 1 year person with the most amount of money from the start-up capital wins. You game?

[/ QUOTE ]

to be honest challenges like this come up all the time. I'm personally not a big fan of them, because I'm so distracted.

What I mean by that: I still consider myself a professional poker player that is just active in investing...not someone that is an investor and does poker on the side (hope that makes sense)

Also I currently "manage" all of my places, so that means I'm dealing with evictions, people who piss on the carpet (read a past beat post by me) also people who sneak in dogs, etc. etc.

So for me to truely compete, I would need to give it all up (it's way more +EV for me to play poker, and be very passive in my investments, hiring a manager etc.)

Now if it's a "real estate" only thing...I'd lose, because I'm too active in other areas. If it's a competition in ANY area, then I might be interested. Cause right now, day trading and poker are HUGE %'s of my income...without them I'm really just a "modest" investor.

[/ QUOTE ]

I'm still playing poker full time, and doing real estate on the side, so I think it would be a similar "time to devote matchup."

Re: Prop bet?
 

Nice work Rika, still working to pay off my first investment property.

Re: Just got apartment # 5....3 more till retirment
 

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I can retire from poker, and live in the upper middle class. And once I pay them all off (in 15ish years without poker money, with poker money sooner) I can live in the lower upper class.

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lol

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I even lol'd at myself...I'm such a dork.

What I meant from that...is I "think" to be officially in the rich class you have to break "1 million" a year...that's all I meant.

Upper class = > 1 million a year

Middle class = < million > like $30,000 in idaho I believe

So when I say upper middle class I'm talking $800,000ish a year...and lower upper class I mean like 1-1.5 million a year.

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wtf? upper middle class is no where near $800k/year. more like 75-100k in the US. 800k/yr is filthy rich. even 300k/yr puts you in the top 1%.

Re: Just got apartment # 5....3 more till retirment
 

Yeah dude you have skewed view. $800k a year is most definitely upper class.

Re: Just got apartment # 5....3 more till retirment
 

Great wok Rika. [img]/images/graemlins/smile.gif[/img]

Re: Just got apartment # 5....3 more till retirment
 

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So when I say upper middle class I'm talking $800,000ish a year

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why do you think this is middle class? In what area of the country? I'm not being rhetorical.

thanks, zip

Re: Prop bet?
 

1) what games and limits you play

2) how much did ur 1st compex cost?

3) ur 5th?

4) how large is the risk in this business?


im jealous.

Re: Just got apartment # 5....3 more till retirment
 

Good work Riza, and yeah 800K a year is [censored] rich. It's like top 0.0001% or something. Upper middle class is 80K+ FOR A WHOLE FAMILY.

edit: RiKa, not Riza. I always think of your name as Rizakazak for some reason.