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Master Don Juan
No, you're just afraid of taking risk.
sifer's Beginner's Guide to Real Estate Investing
- Thread starter sifer
- Start date
Shiftkey
Master Don Juan
Thanks for the post, Sifer. Very informative.
School is for the employees, investing is for the employers. Which would you rather be?
School is for the employees, investing is for the employers. Which would you rather be?
*sifer is seen thinking...*
I'll write more.
I'm hoping that the posts I make gives people an understanding and a reality check of how it is before they decide to make any move.
It's very much like chess. You have to decide ALL the way. In many ways whenever I play chess in parks with one of the old guys there, they think all the way that whenever you make a move, you are reacting to theirs. And this is what you want, you want reality to react to your moves.
Never be afraid to change reality, while I do know that success can be scary, so is failure. In fact, there is glory in basking in failure or success than to bask in the nothingness of the grey mediocrity. It is better to live your life in hell at first, only to rise through the glorious changes that leads you to your greatest victory. That is why success is not where you are, but how far you went from bottom to up.
In respect to Giovanni Casanova's politics policy, I will not write about politics (if people aren't mature enough to discuss something as small as politics, how will they be able to even run a business?).
If you want to know why a technique is the way it is, PM me and I can elaborate on its history and concept. Much like fighting, every move has a history and of why it is the way it is.
Knowing the history and the reason behind a move will teach you why you shouldn't swing in a fight and why you should straight/(fill in technique).
Understanding the whole concept behind the technique is a small part of the battle, the big part is actualizing the technique itself. That is the mindset and that is the entire war one must fight.
Let's make a deal RepphIz, you just need to post properly so people can understand and quote me. Try speaking from experience, perhaps I can learn something from you.
I'll write more.
I'm hoping that the posts I make gives people an understanding and a reality check of how it is before they decide to make any move.
It's very much like chess. You have to decide ALL the way. In many ways whenever I play chess in parks with one of the old guys there, they think all the way that whenever you make a move, you are reacting to theirs. And this is what you want, you want reality to react to your moves.
Never be afraid to change reality, while I do know that success can be scary, so is failure. In fact, there is glory in basking in failure or success than to bask in the nothingness of the grey mediocrity. It is better to live your life in hell at first, only to rise through the glorious changes that leads you to your greatest victory. That is why success is not where you are, but how far you went from bottom to up.
Food for thoughts; who is more successful? A homeless who reached the $1,000,000 goal or the Ivy League who reached the $1,000,000?
In respect to Giovanni Casanova's politics policy, I will not write about politics (if people aren't mature enough to discuss something as small as politics, how will they be able to even run a business?).
If you want to know why a technique is the way it is, PM me and I can elaborate on its history and concept. Much like fighting, every move has a history and of why it is the way it is.
Knowing the history and the reason behind a move will teach you why you shouldn't swing in a fight and why you should straight/(fill in technique).
Understanding the whole concept behind the technique is a small part of the battle, the big part is actualizing the technique itself. That is the mindset and that is the entire war one must fight.
As for you RepphIz, I think you're serious about your work, going as far as to PM me.
Let's make a deal RepphIz, you just need to post properly so people can understand and quote me. Try speaking from experience, perhaps I can learn something from you.
i got questions for you sifer
how old are you? maybe your just a pubescent teen
you act like youve been here forever, why did you come on the board to give advice?
why arent you buying town after town if you say its so easy and simple?
do you own any re? wait, oh i hear ya, "NO" hahaha :crackup: you own nothing
do you work? wait, YES oh i hear that, you work
i duno, probably as a janitor for COLLEGE right?
whats YOUR experience?are you in college? some posters here are hypocrite, saying college doesnt have much value but graduated or go there themself
i dont think i found any but tell me exactly WHYcollege is useless, convince me as if i was yo DADDY
:crackup: :crackup: :crackup: why did you get into rei? did you watch the tv too and go "WOW i could do it?"
why dont you just sell your info? you wrote all that and noone is praising you or giving you prop for your stupid useless info
and one last question, why are you gonna keep on writing??????? didnt you just say you ownt write? LIAR fake and dangerous
how old are you? maybe your just a pubescent teen
you act like youve been here forever, why did you come on the board to give advice?
why arent you buying town after town if you say its so easy and simple?
do you own any re? wait, oh i hear ya, "NO" hahaha :crackup: you own nothing
do you work? wait, YES oh i hear that, you work
i duno, probably as a janitor for COLLEGE right?
whats YOUR experience?are you in college? some posters here are hypocrite, saying college doesnt have much value but graduated or go there themself
i dont think i found any but tell me exactly WHYcollege is useless, convince me as if i was yo DADDY
:crackup: :crackup: :crackup: why did you get into rei? did you watch the tv too and go "WOW i could do it?"
why dont you just sell your info? you wrote all that and noone is praising you or giving you prop for your stupid useless info
and one last question, why are you gonna keep on writing??????? didnt you just say you ownt write? LIAR fake and dangerous
?????????????????????
I agree with your theory but you really have no idea what you're talking about.
Banks don't have access to any kind of grades, high school or college.
A bank cares about your credit rating and that's it...
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Master Don Juan
You are grossly misinformed.
Outside of the academic institutions, your grades don't mean sh!t. I'll say it again: After you get out of school, YOUR GRADES DON'T MEAN SH!T.
When reviewing you for a loan, a banker cares first and foremost about the impression he gets from YOU. If he has a good feeling about you and what you want to do with the money, he is more likely to give you the loan. Bankers take this into consideration even before they look at your credit. In fact, their feelings about you are the FIRST thing they take into consideration. There's a whole list of factors that come up when you are considered for a loan, and credit is actually quite near the bottom of the list.
All this is according to Russ Whitney. (pg. 202 of Building wealth)
Desdinova
Master Don Juan
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Very interesting post, Sifer!
One thing that I've noticed with a lot of my friends is, after their parents die, they inherit the house and then turn around and sell it. It almost seems that they're after the quick, final cash rather than taking that property and letting it slowly make them more money than they would with a sell.
I'm practically begging my mother NOT to let my 5hithead dad sell their house. It's paid off, and my father has gambled away any chance of a cash inheritance I'd get. The only thing I'm interested in is the house. I'm hoping my father cacks before my mother. I've discussed this with her, and she agreed that if my dumbass father dies first, she'll sign the house over to me.
Now, what I'd like to know is not buying a house to make money, but inheriting a house to make money! I know it's not instant cash, but I'm willing to work and be patient for the end result. Another thing in my favor is I can fix damn near anything which will lessen any costs for repairman should something go wrong or need to be re-done.
One thing that I've noticed with a lot of my friends is, after their parents die, they inherit the house and then turn around and sell it. It almost seems that they're after the quick, final cash rather than taking that property and letting it slowly make them more money than they would with a sell.
I'm practically begging my mother NOT to let my 5hithead dad sell their house. It's paid off, and my father has gambled away any chance of a cash inheritance I'd get. The only thing I'm interested in is the house. I'm hoping my father cacks before my mother. I've discussed this with her, and she agreed that if my dumbass father dies first, she'll sign the house over to me.
Now, what I'd like to know is not buying a house to make money, but inheriting a house to make money! I know it's not instant cash, but I'm willing to work and be patient for the end result. Another thing in my favor is I can fix damn near anything which will lessen any costs for repairman should something go wrong or need to be re-done.
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Master Don Juan
I'd like to repeat something that Str8up taught me:
"Money is made with a pen, not a hammer."
What this means is that you will profit more by making deals and acquiring assets than you ever will by saving a few bucks on repair people and learning how to fix things yourself. Now, you should know how to do it if there's a few small jobs that are not worth hiring people for, but if you're going to fix the whole house yourself then you will be wasting your biggest asset, which is time. It's better to spend your time on things that really matter. Which is a better use of your time: Doing work yourself to save you a few hundred or thousand dollars on construction costs, or signing a deal that gives you an instant paper profit of $50,000 on a property you just bought? Remember, with real estate, you should make money when you buy, not when you sell.
Each of us is given a limited ammount of time on this earth, and none of us know how much time we have left . We might have decades, or years, or months, or even hours, there's no way to know. The timer is ticking every day, so treat every day like its your last.
Know how to wisely invest your time, b/c while you can always get more money, you can never add even a second to the time you have left. With that said, have other people do the hands-on work on oyur properties while you make the deals. That way, everybody wins. The workers are able to make a living which puts food on their table, and you profit big time by making the big money when you deal.
Your college grades are confidential by federal law. The only way the bank would see them is if you gave them a transcript, and they'd probably just throw it in the trash.
The bank doesn't care how intelligent you are, or even how much you know about investing. They care about how likely you will be to pay back the money they loan you.
RepphIz, what college do you go to?
Jvesti
Master Don Juan
Banks do not care, i know from experience, they dont give a flying crap. They look at your ability to repay a loan.
The reality is, you have made your worth on getting high grades in school.
Therefore, when people are attacking or saying college in unnecessary it attacks you personally. Yes go to college you will DEFINITELY get a great paying career. If that's what you want to do fine.
ALL that is being said is that if you want to be WEALTHY college is completely unnecessary. College will only give you a JOB. At the extreme of the spectrum is a doctor & Lawyers pullin 6 figs, biz managers, engineers make some decent money.
But on the other hand Real estate agents, high end sales, union electricians have comprable pay to most degree jobs.
To become wealthy, takes you OWNING and CREATING. Being a Leader. This is something you need no degree for. In fact its something a man has to find within himself.
I also want you to look at www.forbes.com and go look at the list of the 400 richest americans that are self made. A good portion of these people are college drop outs. and a majority of the others have useless liberal arts degrees.
Not sure if your a senior in HS or frosh in college. But you gotta step back and take a look around you. The people that are talking and commenting on college come from experience AND a good portion of these people went to college and are STILL saying this. These are people in their 20's to 30's that are already out of schooling and in the real world.
Desdinova
Master Don Juan
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I completely agree. There's no way in hell I would touch the big jobs such as re-doing the stairs in my parents house stucco, cement, shingles etc. But as for changing light fixtures, fixing outlets, patching holes in drywall, that stuff isn't a big deal and is a waste of money hiring someone to do it. It's like changing the oil, coolant and spark plugs on my car, why pay the money when I can do it just as fast for much less money?
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Master Don Juan
you seem to have the right idea. Like i said, do small jobs yourself.
Hooligan Harry
Senior Don Juan
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This is a four year old thread.
Wonder how the OP is doing with all that real estate at the moment
Wonder how the OP is doing with all that real estate at the moment