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#111
11-22-2006, 07:57 AM
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Re: Prop bet?
[ QUOTE ]
[ QUOTE ] I thought the real estate bubble burst? [/ QUOTE ] You'd think with all the misinformation out there regarding poker playing, just look at all the threads about our experiences with misguided friends, family about poker, you'd think we would be able to not fall into the same trap looking at something else like real estate. Just realize that real estate is "+EV" for people who know what they are doing, just like poker. [/ QUOTE ] Isn't online poker illegal now or something? 
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#113
11-22-2006, 08:15 AM
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Re: Prop bet?
[ QUOTE ]
Just realize that real estate is "+EV" for people who know what they are doing, just like poker. [/ QUOTE ] I've always thought that whenever people start saying that xyz is a good thing to get into, it's stopped becoming a good thing to get into. When they say it's busto, it's probably a good time to start looking at starting it.
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#115
11-22-2006, 11:49 AM
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Re: Just got apartment # 5....3 more till retirment
[ QUOTE ]
[ QUOTE ] The rich dad poor dad books you are refering is that from richdad.com? [/ QUOTE ] yes, that's it [/ QUOTE ] Cool thanks man i'll get em. good luck with everything man!
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#116
11-22-2006, 12:18 PM
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Re: Prop bet?
[ QUOTE ]
[ QUOTE ] Seriously, rich people just don't give money to 22 year old peoples because they "know what they're doing". [/ QUOTE ] Uh, I'm 23, and at least one 2+2'er has loaned me mid-high five digit sums because "I know what I'm doing." Soo... [/ QUOTE ] But did you buy real estate with it? No, you used it to play online poker. Big woop.
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#117
11-22-2006, 12:39 PM
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Re: Prop bet?
[ QUOTE ]
[ QUOTE ] [ QUOTE ] The other reason is "loans." You see due to my "job" I do a lot of "creative" finanacing. Meaning non traditional, non "bank" loans. Basically what I'm saying, is people who are rich trust that I "know what I'm doing" so they just give me money. [/ QUOTE ] Do these peoples names begin with M(om) and D(ad)? Seriously, rich people just don't give money to 22 year old peoples because they "know what they're doing". [/ QUOTE ] i guess you missed that whole dotcom thing in the late 90s [/ QUOTE ] Umm.....right, cuz that's the exact same thing we're talking about here, right? Fat, drunk and stupid is no way to go through life, son.
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#118
11-22-2006, 12:50 PM
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Re: Prop bet?
[ QUOTE ]
kick, "i guess you missed that whole dotcom thing in the late 90s" If that's your example response, you're probably missing the whole Web 2.0 thing of the mid-2000's. [/ QUOTE ] How's Dogster working out for you ED?
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#119
11-22-2006, 01:45 PM
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Re: Just got apartment # 5....3 more till retirment
Nice post, I'm a little surprised at all the haters, but whatever this is 2p2 and bbv.
I tend to agree most with El D in this thread, and with the OP on making his poker money work for him. One thing a lot of the younger posters in this thread may be missing is the amount of WORK someone has to do to make any venture profitable. GL man, you get it.
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#120
11-25-2006, 08:18 PM
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Re: Just got apartment # 5....3 more till retirment
[ QUOTE ]
Also when I threw out the "1 million+" per year stat....please remember that it includes 3 ADDITIONAL apartment complexes roughly the "same size" and they'll ALSO have to be paid off. [/ QUOTE ] To get $1 million+ per year on fully paid off complexes, assuming you are buying at 8% cap rate now, you'd need a portfolio value of $12,500,000 today. Assuming you are going with standard commercial loans with 25% down requirements, you'd need over $3 million down. That's a lofty goal, but definitely can be done! Hit me up if you want to talk REI. I invest in residential. See my old thread.
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