Black Billionaire explains how to get rich in 90 seconds

[BobbyWojak]

12 leg parlay

i have a boat

ucla lost

 

[Cakebatter]

He makes it sound so simple and easy.

Here's some similar advice to help you get rich quick!

n

This is the modern Silicone Valley grift model. Sell investors on growth potential, and never talk about costs or profits. By the time the investors realize profits will never exceed costs, the founders and original investors have already made bank.

 

[Taadow]

there's so much red tape you'd need to go through for this. I'm almost convinced city council members in various cities have backdoor agreements to keep regular folks from implementing this type of stuff. I've been researching a local home builder and they've bought over 100 parcels of land around the city that were supposed to, on paper, go to people willing to do this sort of thing but instead they built houses 10x the median income. How am I supposed to buy a cheap house to rehab when I'm competing with multi millionaire's with connections.

….aaaand there you have it. Real Estate is the worlds’ second oldest profession - thing is everybody knows that.
So everybody wants a piece, but some people have more resources and a giant step head start.

Hi @jilla82

 

[Robo Squirrel]

Wait till the end

In.

 

[Luke Cage]

Most likely he bought a house that was already ready to move in and the $2500 was probably just to update the paint and carpet

No, he said he paid 400 to 500 for the house. they weren't move in ready
The part people glossed over is "sweat equity" meaning you gotta know how to build and repair the house yourself instead of paying someone else to do it.
I imagine if you already own the tools and you repair the appliances and electrical instead of buying new stuff, $2500 is enough to just cover new paint, carpet and wood type stuff.

 

[TAYLONDO SAMSWORTHY]

Spittin


The only thing worse than an excuse, is a good excuse

 

[Cakebatter]

No, he said he paid 400 to 500 for the house. they weren't move in ready
The part people glossed over is "sweat equity" meaning you gotta know how to build and repair the house yourself instead of paying someone else to do it.
I imagine if you already own the tools and you repair the appliances and electrical instead of buying new stuff, $2500 is enough to just cover new paint, carpet and wood type stuff.

The problem is those could easily be 1990's dollar figures, which simply aren't relevant today. The method is still sound, but that $2500 can mean $7500 today. Had an older sibling who was flipping houses in the 90s. They would just clean, paint, and cut/edge the lawn, then put it back on the market.

 

[UpAndComing]

No, he said he paid 400 to 500 for the house. they weren't move in ready
The part people glossed over is "sweat equity" meaning you gotta know how to build and repair the house yourself instead of paying someone else to do it.
I imagine if you already own the tools and you repair the appliances and electrical instead of buying new stuff, $2500 is enough to just cover new paint, carpet and wood type stuff.

Nah, That's not always the case

You can also sublease/sublet that place to a tenant with handyman skills to repair the house, and if fully repaired the tenant will own the house

Sweat Equity doesn't always mean your hands are getting dirty

 

[Luke Cage]

Nah, That's not always the case

You can also sublease/sublet that place to a tenant with handyman skills to repair the house, and if fully repaired the tenant will own the house

Sweat Equity doesn't always mean your hands are getting dirty

thats not sweat equity then.

 

[UpAndComing]

thats not sweat equity then.

That is Sweat Equity. You are not using upfront cash or a loan to invest, and using the Sublessee's Sweat Equity to get invest in the property

 

[Peauxboy]

Also in what world are you fixing up a house for 2500 dollars

He’s not doing full rehabs, he’s doing just enough to add value and make it more appealing to someone looking to rehab.

I’ve been thinking about doing the same, but with cars.

 

[beenz]

why advertise it as getting rich quick tho? there's no such thing as getting rich quick. does not exist. wealth is built over time.

 

[King Sun]

Telling people to invest in real estate when rates are at their very highest is wild. Also "accomplishing" anything in the capitalist world means next to nothing when you're black . But again all black people love a bootstraps story.

 

[BEN23]

Where are you getting house theses prices? i live in nyc and everyone is hip to game...there aint much deals....this aint the 80s or 90s

 

[Big Boss]