Which ways exist to triple your money in one year?

[Henry17]

The whole idea of tripling your net worth every year is ridiculous. I more then tripled my net worth in the beginning but once you hit a certain point it just can't be done.

Think of it this way. If you started with $50k in 20 years your net worth would be $175 trillion.

[doppelganger]

If there was a way to automatically triple your wealth every year then your one dollar would be worth more than the entire planet's economy within less than 40 years.

So yeah, it's probably pretty easy and people are doing it all the time.

Edit: What Henry said.

Edit2: Also, if anybody could do it, it would be Henry. That guy could take a Homeless man off the street and have him making $150K at poker w/in a month! [img]/images/graemlins/smile.gif[/img]

[spex x]

[ QUOTE ]
It is easy to triple a $5000 poker bankroll, variance alone will do it for many players. It is not so easy to triple a $500,000 stock portfolio unless you throw caution to the wind then you might as well put it on a 3 to 1 bet on roulette and triple your money in 45 seconds.

Jimbo

[/ QUOTE ]

I think that this is exactly right. Its easy to triple small amounts of money, but hard to triple large amounts.

I have a kid that works in my mobile home parks flipping mobile homes. He buys them for cash from motivates sellers, fixes them a bit, then resells them for about 3 times what he paid for them on a note. Then takes that note to a local note buyer and gets 70 cents on the dollar for the note. That kid more than triples his money every year. But he's investing maybe $3000 on a home, selling it for $10,000. Small potatoes.

I've had similar success developing a manufactured home subdivision. I buy and set the homes on a permanent foundation, and the total cost is about $35k or so. Then I sell the home for about $75k. It works out good for everyone. I more than double my money each year on these deals (although a lot of the time I gotta sell them on lease options, and lots of times I carry the paper myself, which doesn't count).

I've also had some success taking old, run down properties and improving them. I bought a mobile home park and doubled its value in one year. Lately I've considered buying a few old roadside hotels to try for a turnaround or to convert them into senior housing.

The point is that I think that tripling your money is each year is possible on maybe a handful of small deals. Doubling your money is possible on one large deal per year. But tripling or doubling your ENTIRE net worth each year is impossible unless your net worth is real small.

[Life]

spex, is it possible to find good deals on mobile parks on loopnet? i see there are a few for sale there in my state, but i keep hearing that the only way to get good deals on anything is to contact the sellers before they go to market.

How do you gauge if theres demand for a mobile home park in an area when you go developing a subdivision?

[spex x]

[ QUOTE ]
spex, is it possible to find good deals on mobile parks on loopnet? i see there are a few for sale there in my state, but i keep hearing that the only way to get good deals on anything is to contact the sellers before they go to market.

How do you gauge if theres demand for a mobile home park in an area when you go developing a subdivision?

[/ QUOTE ]

I've never found a good deal on a MHP on loopnet. Of course, what I think a good deal is and what you think a good deal is might be very different. I buy MHPs for 12%+ cap rates, and I need to get a 25% COCR (calculated using LOT RENT ONLY, no rentals). I think that my investment criteria are not too aggressive for MHP investing - pretty typical according to the other investors that I know. You can't really get these kinds of returns from loopnet properties. Mostly thats because loopnet prices are based more on the dreams of brokers than the expectations of sellers.

The best way to find good deals on MHPs is to join a local REI club and start telling everyone that you'd just love to buy a MHP. There are so many more out there tucked back in the woods than anyone realizes. I bought one park that I found on a local MLS, and two more I bought from the same guy, who was referred to me by another investor. Networking is ultimately the key to success in REI.

As for developing, I'm kinda new to it. I don't own the subdivision that I'm developing. I buy parcels as I need them. As luck would have it, the developer that first subdivided the land went bankrupt and all the individual parcels are in the possession of the county. All I have to do is walk in, pay $215, and I own a lot to develop. I don't do a lot of market analysis. My basis is so low on these homes, and my returns are so high, that I'm risking very little. Once developed I sell the land/home package together.

I don't recommend that you attempt to develop a mobile home park. City and county governments do not want more parks. Technically, they can't really stop you from building one - you'd be protected by fair housing laws there. But they CAN make your life hell. They can also make the development very unprofitable by requiring ridiculous setbacks, playgrounds, community space/parks, etc. The red tape is enormous in the best conditions. The developments costs are astronomical given the return. NO way. Better to find and buy one that is already developed.

MHP = CASH COW. Abundance of poor people, and all that. I highly recommend that you try to buy one if you can.

[john voight]

i just wish i could double my money for 30 days, starting with a penny

i'd be set for life.

[Moonshine]

lol this thread is even more retarded than the title suggested

[ahnuld]

this thread is really really dumb. Im locking it for all of us.