Here are my circumstances, how do I become incrementally wealthier?

[CAPSLOCK BANDIT]

He's a phony.

I understand what you are saying, yeah he is running a business off the advice platform its shady.

But his knowledge of apartments online is a great crash course for somebody on why, for example, owning less than 11 apartments is not ideal, because 11 is the average number the units begin to become profitable vs. maintenance and renos..
Yeah, its a simple thing, but people will also try to sell you a single apartment like its not a money pit

 

[RickTheToad]

I understand what you are saying, yeah he is running a business off the advice platform its shady.

But his knowledge of apartments online is a great crash course for somebody on why, for example, owning less than 11 apartments is not ideal, because 11 is the average number the units begin to become profitable vs. maintenance and renos..
Yeah, its a simple thing, but people will also try to sell you a single apartment like its not a money pit

My side business is multifamilies in Greater Bridgeport, CT. Whereas, I invest and manage 3 - 6 unit rentals. They are bringing in a few hundred a door each month. Can I buy a lear jet? No, but I can live off that income; if needed.

 

[7onriverI f]

My side business is multifamilies in Greater Bridgeport, CT. Whereas, I invest and manage 3 - 6 unit rentals. They are bringing in a few hundred a door each month. Can I buy a lear jet? No, but I can live off that income; if needed.

stop being negetive. cardone has a jet. just pay for his fuel and you might get a flight in it.

 

[RickTheToad]

stop being negetive. cardone has a jet. just pay for his fuel and you might get a flight in it.

Apparently, he's having money problems and someone can buy it for 7 million.

Grant Cardone Lays Off 80 of His 180 Employees Without Notice: 10X Being Hammered to -OX by the Coronavirus?

Social Media Reports: Scientologist Tycoon Grant Cardone laid off 80 of his 180 employees last Friday with no prior notice. March 19, 2020: Karma’s a *****: Many people who have lost their jo…

scientologymoneyproject.com

 

[CAPSLOCK BANDIT]

My side business is multifamilies in Greater Bridgeport, CT. Whereas, I invest and manage 3 - 6 unit rentals. They are bringing in a few hundred a door each month. Can I buy a lear jet? No, but I can live off that income; if needed.

If your not putting money away your not being profitable; the idea of having self sustaining real estate is flawed when you consider roof, hot water tank, potential foundation leaks... Like the list of things that can go wrong are endless... Just because you are surviving does not equate to a future for you next year, just tomorrow.

You know this as well if you actually do manage units, im not sure why youd even offer it as a point of contention.

 

[RickTheToad]

If your not putting money away your not being profitable; the idea of having self sustaining real estate is flawed when you consider roof, hot water tank, potential foundation leaks... Like the list of things that can go wrong are endless... Just because you are surviving does not equate to a future for you next year, just tomorrow.

You know this as well if you actually do manage units, im not sure why youd even offer it as a point of contention.

Notice the last part I stated, "if needed". We've replaced a few hot water tanks over the years. 800 bucks installed. Replaced a roof with a 20 year warranty too, was around 7200. I set aside reserves for repairs and maintenance. I keep around 30% in reserves at a FDIC bank. Just saying all of the stuff Cardone says is not 100% correct.

 

[CAPSLOCK BANDIT]

Notice the last part I stated, "if needed". We've replaced a few hot water tanks over the years. 800 bucks installed. Replaced a roof with a 20 year warranty too, was around 7200. I set aside reserves for repairs and maintenance. I keep around 30% in reserves at a FDIC bank. Just saying all of the stuff Cardone says is not 100% correct.

I get it; I live in the 'Hail' capital of the world, were lucky to get 10 years out of a roof before repair at all times, most dont budget for it, but gotta at minimum pay the insurance.


Most insurance does not cover hail damage out here, so u need a garage for your car as well... Its not as bad as im making it sound, but its just a constant looming cost.

 

[RickTheToad]

I get it; I live in the 'Hail' capital of the world, were lucky to get 10 years out of a roof before repair at all times, most dont budget for it, but gotta at minimum pay the insurance.


Most insurance does not cover hail damage out here, so u need a garage for your car as well... Its not as bad as im making it sound, but its just a constant looming cost.

Just add a rider to cover hail and you're set.