|
|
#91
09-27-2006, 01:34 AM
|
|||
|
|||
Re: all you college drop outs...
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] [ QUOTE ] [ QUOTE ] Do you do this? I was thinking more along the lines of owning a home type of appreciation. Of course buying rental properties can be a good investment. It does take some work though - just like anything else. [/ QUOTE ] The hard part is finding the properties. Right now with how much prices have gone up, it is very difficult to find anything that you can rent out for more than the mortgage price. As prices come down, interest rates go up, rental prices go up and single mothers working at Wal-Mart who can't afford their mortgage payment go busto... I think there will be opportunities for this, and I can't wait to do it. [/ QUOTE ] amen to busto moms who will make us rich! [/ QUOTE ] ya, feels sorta predatory to be waiting for that...but they are the ones who overextended themselves and took out ARM's they couldn't afford. [/ QUOTE ] With all due respect to degan (and i have a lot for him), this kinda made me sick... [/ QUOTE ] kinda makes me sick to bro. it sucks that lower middle class america has very little financial sense. i wish i could help them change that. from a societal standpoint, it is very very sad. but... somebody is going to make a lot of money when all of these foreclosures happen...just like somebody makes a lot of money when huge donkeys sit down at a poker table. might as well be us. [/ QUOTE ] Degen, What do you have lined up when more foreclosures start coming? Have you done pre-foreclosures/foreclosures before? 
|
|
#92
09-27-2006, 01:38 AM
|
|||
|
|||
|
Post deleted by Mat Sklansky
|
|
#93
09-27-2006, 01:42 AM
|
|||
|
|||
|
Re: all you college drop outs...
all,
I have some ?s with buying companies. lets say you have 1.5-2mill in the bank and good credit, what size companies can you buy? also, hows the down payment/monthly payments work out when buying companies? is it only interest payments?
|
|
#94
09-27-2006, 01:48 AM
|
|||
|
|||
|
Re: all you college drop outs...
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] [ QUOTE ] Do you do this? I was thinking more along the lines of owning a home type of appreciation. Of course buying rental properties can be a good investment. It does take some work though - just like anything else. [/ QUOTE ] The hard part is finding the properties. Right now with how much prices have gone up, it is very difficult to find anything that you can rent out for more than the mortgage price. As prices come down, interest rates go up, rental prices go up and single mothers working at Wal-Mart who can't afford their mortgage payment go busto... I think there will be opportunities for this, and I can't wait to do it. [/ QUOTE ] amen to busto moms who will make us rich! [/ QUOTE ] ya, feels sorta predatory to be waiting for that...but they are the ones who overextended themselves and took out ARM's they couldn't afford. [/ QUOTE ] With all due respect to degan (and i have a lot for him), this kinda made me sick... [/ QUOTE ] Do you know where a lot of the money comes from in poker?
|
|
#96
09-27-2006, 02:11 AM
|
|||
|
|||
|
Re: all you college drop outs...
AZK your post makes you look like a snob.
Do you realize how many people would love to have ramen noodles every day? A clean house/apartment? A running car? I bet you never think of it. I was pretty poor growing up, and there are people out there a LOT poorer than I was. I think you need to get some perspective.. Also, whos to say that the legislation wont pass, and North Dakota legalizes gambling and we have a new poker boom. It IS possible. But if poker dies I will go back to school, I dont see very many other options.
|
|
#97
09-27-2006, 02:41 AM
|
|||
|
|||
|
Re: all you college drop outs...
[ QUOTE ]
What Orlando cardrooms? If you're talking about the shady underground cash games, I've been through that scene - beware. [/ QUOTE ] The way I heard it, they have large buy-in, up to 1000 dollar, STT's for the the bigger gamblers.
|
|
#98
09-27-2006, 02:45 AM
|
|||
|
|||
|
Re: all you college drop outs...
This might have been said already, but I will be going into the Real Estate biz. Worked construction with my dad for 10 years, know everything he does(and hes general contractor). My best friend is inheriting a few mil within the next 2 years so our goal is to start flipping house. Buy cheap, fix up, sell. Ship it holla.
|
|
#99
09-27-2006, 03:02 AM
|
|||
|
|||
|
Re: all you college drop outs...
In my opinion, the keys to wealth creation:
1)Invest in a diversified portfolio using top mutual fund managers. U.S. stocks, international, small cap, large cap, value, growth, etc. Morningstar.com has an excellent portfolio allocater and research on funds Nominal returns of 10%+/yr over a long period 20+yrs can be attainable. I have handily beat the s+p 500 using this approach. 2)Use tax deferred retirement accounts such as 401k, sep, ira to excelerate growth and save for retirement. 3)Goverment "subsidies" ie. real estate and the power of leverage. (real estate is a little sketchy right now but opportunities will be present soon) The government urges people to buy real estate hence tax deductions on interest, taxes, etc. and the powerful 1031 exchange which basically lets you parlay real estate gains indefinetely 4)Real estate is the #1 area of wealth creation, I would recommend setting a goal of purchasing 1 property every x amount of years. Create relationships to aid in building a real estate portfolio-good agent(I am a little biased), lender, painter, handyman, etc. 5)Setting a small percentage (5-10%) of overall investment portfolio on aggressive investments. This could be your own start up business for those who don't have a career or maybe an opportunity that you come across. (be aware that 90%+ businesses fail) These items have worked for me and have created passive income to supplement my poker income
|
|
#100
09-27-2006, 04:48 AM
|
|||
|
|||
|
Re: all you college drop outs...
I've already started my business. Own real estate. Right now own 4 apartment complexes and 1 single family home.
At the rate/size of my apartment complexes, once I get 4 more of roughly the same size etc. etc. I can just live off of that. Plus I'm paying off all my bills (read almost got the car paid off...working on getting my house paid off, and yes I know about leverage etc. paying off my house this young is something I WANT to do, not the smartest thing) So that's what I'm doing. I'm hoping for 4 more years of poker where I can earn over $100 a hour...if I can do that, I'll be set for life. If that doesn't work out, my fiance makes enough as an engineer to pay all the bills etc. So I could get a normal job...like working at a hobby store or something fun.
|
 |
|
|
Linear Mode
