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[Liquid]

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[Liquid]

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[Dank Hill]

I'm all about positive threads with substance so I you for that my nikka. As most people who keep in touch with me on here already know. I'm transitioning out of the internet marketing business and focusing on more stable streams of passive income. I used a good portion of my money to aquire 8 properties in the florida panhandle area through out this past year and I close on another one this following month (all 8 are rented out and they stay rented out from $800-1100 a month depending on location and size of the property). Other than buying and renting out places I use lending club to lend out money and get that interest (its more like gambling to me and I use money I wont miss considering people don't always pay their bills). Finally I'm starting to get back into stocks and I think its time for me to bulk up on some more bullion considering the prices are dropping for gold & silver. Thats pretty much it without me rambling.

Edit: also look into buying land. It's not like they're make anymore of it lol.

 

[Liquid]

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[Dooby]

I'm thinkin gof getting into the real estate business as well. Could you put me on to any tips or tricks of the trade @bdirty

 

[Human Torch]

I'm thinkin gof getting into the real estate business as well. Could you put me on to any tips or tricks of the trade @bdirty

Go head @ me when this info is dropped.

Preciate it in advance

 

[newarkhiphop]

Ive decided for now to just be on my 9-5 grind and stack my money , although am really starting to hate it but they opened up overtime now so am working on some of that and just saving saving saving whenever i can . My bills is so low that i can afford to do that and am planning for the wedding later on this year . Its gonna end up being about $4,000 which imo doesn't seem too bad , besides that i decided to put off buying a house for at least 3 years. In that time i plan to pay off the majority if not all of my $38,000 in student loans.

Saving plan for now is to put away anywhere from $200-$400 in my savings a month, again with my bills even with my students barring any unexpected bills etc i can do that fairly easily, but i still hope i can find a way of the rat race brehs i find myself with the when i get to work in the mornings

been considering moving back to the east coast too @Liquid , these boondocks getting to me

anyways for my brehs look to get there finical game right (as far as savings etc) and need a place to start , ive said this before but i highly recommend this book

 

[Teal.]

 

[Dank Hill]

I'm thinkin gof getting into the real estate business as well. Could you put me on to any tips or tricks of the trade @bdirty

Go head @ me when this info is dropped.

Preciate it in advance

Real estate isn't as hard as most people think it is, intimidating? Yes, but hard, no. The paperwork at closing is really the hardest part of it (I just closed on my new house yesterday and it took around 3 hours due to some paperwork issues). As far as just starting out, you guys already know homework is the most important thing as you can't just buy any ole place and expect the money to just roll in. I've always wanted to and eventually hope to own an apartment complex, so I bought and read this book over and over again and it gives great information on doing research on the market and other things

(http://www.amazon.com/gp/aw/d/0471684058/ref=mp_s_a_1_3?qid=1388640806&sr=8-3&pi=SY200_QL40)

The first place I ever bought was in my home town, Clayton county which is considered the hood to most of Atlanta. I did my research and found a nice little 1400 Sf house for around 20k. It was a foreclosure and the bank fixed it up to sell it. I bought with the intention to rent it out later but I also wanted to experience the buying processs plus I was tired of giving up rent money myself. When all was said and done it took about a month to close and all I had to pay was taxes and insurance for the year (much better than renting for 700 a month). After I lived in it for a bit I decided to buy another house in a better neighborhood in clayco for myself. That happened and I hired a property management company to take care of and rent out the place. They took care of everything, found someone to rent my place at the price of a 12% cut of the monthly income.

The point of me telling this long ass story about my first real estate purchase is to show it isn't that hard. You just have to to your research on the area and market and the numbers have to be right. I would suggest starting out cheap if you haven't bought anything before so you can get the feel of buying a property and so you'll have a place in your name where you won't have to pay rent anymore. When you get comfortable enough, you can either advertise yourself to rent it out or you can be like me and hire a company to handle everything for you. It doesn't take much to start off. Find a townhouse with a garage in a nice neighborhood or something and use places like zillow.com to get the history of the properly value and whatnot. If you dint have the cash to buy a cheap place in full, do know you will need to have a 10-20% down payment of the purchase price when you go to the mortgage company. And don't be afraid o lowball. To me it's just like buying a car on a larger scale with more paperwork.

I know I'm leaving alot of stuff out, but I'm not trying to write a book tonight. Plus I'm typing all of this on my phone considering I don't have internet at my new home for now (sucks). So if there are any typos, that's why. I do hope this information help you guys and other coli brothers out though. And as always I don't mfind sharing this information considering the plate is too big for anyone to eat off of my side. There is room in this business for everyone.

 

[Liquid]

Ive decided for now to just be on my 9-5 grind and stack my money , although am really starting to hate it but they opened up overtime now so am working on some of that and just saving saving saving whenever i can . My bills is so low that i can afford to do that and am planning for the wedding later on this year . Its gonna end up being about $4,000 which imo doesn't seem too bad , besides that i decided to put off buying a house for at least 3 years. In that time i plan to pay off the majority if not all of my $38,000 in student loans.

Saving plan for now is to put away anywhere from $200-$400 in my savings a month, again with my bills even with my students barring any unexpected bills etc i can do that fairly easily, but i still hope i can find a way of the rat race brehs i find myself with the when i get to work in the mornings

been considering moving back to the east coast too @Liquid , these boondocks getting to me

anyways for my brehs look to get there finical game right (as far as savings etc) and need a place to start , ive said this before but i highly recommend this book

breh you moved to freaking Nebraska...that's such a bold move that I can't even recommend it lol

38K in student loans is actually not that bad compared to many of my friends from around the way that are sitting on top of 80K+ worth of debt

 

[Silkk]

In, last two threads were dope

 

[N*E*R*D]

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[88m3]

I'll drop some info when I'm less tired.

 

[7oclock]

spend 150,000-300,000 to make 3-5% a year on that money


i'm kidding, it's better than nothing especially if the property rises in value but this is not how most of the big money makers make a bulk of their wealth - that's simply not true.

I am about a year or two away from that and real estate is what I have in mind as well, that's how most of the big money makers in this country made the bulk of their wealth.

 

[theworldismine13]

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