Kinda Silly And Not Important...but Curious

Comments(8)

• 
  results_one17th February, 2004

  HI:
  I think this is an interesting question and I do not blame you for being curious. I am not going to answer it because I am hardly seasoned. I will leave this answer for John Cash Locke, Lufos, or some of the other big players.
  However, I think a more important question is how much do YOU want to make annually in rei. Nothing is more motivating than a dream that is all your own. When you hear the answers from the other investors, you may be tempted to limit yourself and what you think is possibe. Just food for thought......
  
  Good Luck!
  
  [ Edited by results_one on Date 02/17/2004 ]

• 
  elf258817th February, 2004

  Results One - great post, I agree with your thoughts.
  
  Not only that, but when you have your own goals, then you have something to commit to and strive for. It's very motivating!

• 
  kr2k17th February, 2004

  Stockade,
  
  You know you should not ask a question like that. It is more important that you set goals for yourself and associate with people who can help you reach those goals. What I make is good for me and what the others make is good for them. What is good for you? How much do you want to make? That question is just for you and only you.
  
  Take care and keep buying.
  
  kr
  [addsig]

• 
  hibby7618th February, 2004

  I think this would be a good poll. Satisfies curiosity while provinding anonymity. After all.....privacy....isn't that what land trusts are for???

• 
  ahabion18th February, 2004

  I agree with hibby, a poll would be a good one for this... Joel warp 4... engage.
  
  
  
  
  
  [addsig]

• 
  InActive_Account18th February, 2004

  >$1.00 but <$999,999,999.99 I agree with the others. This would be a good subject for a survey,I would like to see other questions such as how the person earns the greatest amount of REI income. Such as landlording,L/O,flipping,developing,subject-to,and others. [ Edited by MichaelChandler on Date 02/18/2004 ]

• 
  Shirley18th February, 2004

  I can understand you wanting to know if "this real estate stuff is for real" or just another late-night infomercial. I won't give you a dollar figure, but I can give you an idea of what we have done. After 18 months, my husband "retired" at age 40 to do our real estate business full-time. I should be able to follow in about a year.
  [addsig]

• 
  hibby7618th February, 2004

  That's a good reason...
  
  Perhaps this would be a good place to tell stories about investors that you know personally and their experiences with real estate. I'll list a few.
  
  Widow used life insurance to buy real estate. Raised 13 kids with the money, didn't go back to work. Now has $100K per year (pre tax) to live on and 1.5M Net worth.
  
  House flippers: Does 90% short sales, 10% subject to's. Bought first property 5 years ago. Went full time 3 years ago. Does 5-8 deals per month. Averages $20-30K per deal.
  
  Newbie. Age 23, college student, works part time, lives at home. ...Did his first rehab. Bought a run down, non-conforming illegal triplex and turned it into a legal, non-conforming triplex. Did some work himself, hired most of it out. In 4 months it was worth 30-40K more than he paid for it and it was cashflowing. (I'll save the details on how he sold it).
  
  8 of 10 self made millionaires make their money (first) in Real Estate ("The Millionaire Next Door"
  
  Other TCI member (told me in a PM)....Started buying rentals. 5 years later he was a millionaire.
  
  Brother in law - Bought a duplex. Hated landlording. After several years he decided that he hated landlording and got out of his short-lived RE carreer. After all was said and done, they had lived rent-free for 2 years and had enough left over to take a several month trip to the middle east, buy a car, and have some money left over.
  
  I could go on. I think this could merit a separate post of it's own. I'd love to hear from others.