Real Estate Investing - GoFuckYourself.com

HighRoller · 07-01-2003, 08:27 PM

Anyone else here into Real Estate investing.
I mean where you buy more than 1 other house and are actively in it?

booker · 07-01-2003, 08:28 PM

Caroline · 07-01-2003, 08:46 PM

from what i recall in my class, at least here in michigan, you cannot sell more that 5 homes in one year without having a real estate license. the fines are a big deal. so check with your area before you get into it.

those late night commercials that tell you you can make millions.. never tell you that

jules180 · 07-01-2003, 08:51 PM

that may be true in some areas but getting a license is trivial every other housewife in my neighborhood has one, good way to save on brokerage fees too

HighRoller · 07-01-2003, 08:52 PM

so a license takes 3 weeks and about $700

Plus it's 5 transactions, not 5 houses

buy a house, sell a house
that's 2 transactions.

Plus you can get in with lease optiions, pre-foreclosures
tons of ways without breaking the rules.

The late night commercials are just a tip of the whole business.

HighRoller · 07-01-2003, 08:53 PM

My advice to everyone, keep the easy money on the web, invest in real estate, I am not selling anything, just know that's where the money is and others do to, so meet me at internext if you ever just want to chew the fat.

quiet · 07-01-2003, 08:53 PM

i'm thinking of getting involved once i leave adult.

Marcus · 07-01-2003, 08:55 PM

Is now a good time to buy or do you all think prices will start dropping?

PimpRoll · 07-01-2003, 08:59 PM

real estate is in most cases an investment that always makes you money, if done right ofcourse

but i am not a fan of residential, i have my money in commercial properties

chowda · 07-01-2003, 09:12 PM

Quote:

Originally posted by quiet
i'm thinking of getting involved once i leave adult.

i know alot about the RE in mtl, if u need a helping hand

stevo · 07-01-2003, 09:22 PM

Each state has different laws. So many rules and regulations. In Florida for example first you have to pass a prelicensing coarse (80 hours i believe) and then you have to apply and get accepted into the FREC Licensing Coarse (60 hours). You need a grade of 70 & 75 to pass these tests. Just because you pass these tests doesnt mean you can start working on your own, you cant become an "active salesperson" until you start working under a broker. If you want to become a broker you need 6 months of real estate experience and another 70 hour class & test.

I dont think Florida has a 5 transaction limit. Individual property owners are free to buy, sell, exchange, or lease their own real estate. If your providing a real estate service for someone else for commission, then you need a license.

Take the class, they even offer it at some colleges, at a slower pace (instead of 8 hours a day for 7+ days at the state schools). Its pretty easy and you'll learn alot.

booker · 07-01-2003, 09:37 PM

Yep, each state is different, each state has their own RE commission.

There are two levels of RE involvement, being an agent and/or a broker. Each carries its own advantages and abilities. Both require an education (the 60-80 hrs) and passing an exam to be licensed, which is usually renewed every 2 years.

Very profitable hobby, especially if you learned your marketing skills in the adult industry and are good with people.

DirtyDanza · 07-01-2003, 09:49 PM

my advise is to get out of resi property and get into commerical... thats what we do and we make a killing.... fuck these indivuduals and hoping they make rent.... get with something like the state... then the rent is always there

quiet · 07-01-2003, 09:50 PM

Quote:

Originally posted by Dirty_DS
my advise is to get out of resi property and get into commerical... thats what we do and we make a killing.... fuck these indivuduals and hoping they make rent.... get with something like the state... then the rent is always there

yeah, i've heard this over and over.

TheJimmy · 07-01-2003, 10:27 PM

Quote:

Originally posted by Dirty_DS
my advise is to get out of resi property and get into commerical... thats what we do and we make a killing.... fuck these indivuduals and hoping they make rent.... get with something like the state... then the rent is always there

amen to that...a good friend of mine from school's father was into commercial real estate in the 80s...that fucker had houses ALL over Newport Beach on the water, boats, pimp rides, hot chicks, etc....thought the fucker was selling dope....

nope, was just a solid commercial RE biz

KRL · 07-01-2003, 11:13 PM

Quote:

Originally posted by Marcus
Is now a good time to buy or do you all think prices will start dropping?

Every market is different. I lost $500K once on a high end real estate deal. Markets can change quickly with the volatile economy we live in.

Timing is everything as is buying right.

iroc409 · 07-01-2003, 11:18 PM

my uncle's had his RE license (and maintained it) since he was 19... that's like, a long ass time ago. he's an appraiser in colorado now. he's gonna help me get in the biz and do it right.

Kel · 07-01-2003, 11:29 PM

If you do go residential - get your license (or partner up with someone that has theirs) and get into the knowledge circle of forclosures in your area. Map out the days on your calendar in which the county courthouses are holding their auctions. Go on a nice cold, rainy day (as most auctions are held outside on a Saturday rain or shine) when the bidding competition is weak.

I've partnered up and bought/sold 2 homes like this now. A great way to make $$$.

Good Luck,

-Kel

HighRoller · 07-02-2003, 05:57 AM

Actually the commercial market is getting hit hard with vacancies, they are 22% all time high out here. in early 90's they went though a really bad slump. Real estate always can slow down a little but there is way more to it than that. buy houses cheap and buy houses for the long term. Too much to actually talk about in this post.

Dirty your grandpa is doing well, but that's not normal for the average person to own government buildings and lease to the state.

I know people every few days that constantly buy $140,000 houses for $80,000. They make $50,000 in 1 week worth of work.
I can name many people doing it and they are young and old.

Do this math

5 houses $200,000 each. =$1 million
Rent them all out

I have seen a hot market out here 15% in fast growing cities
I"ll just say 7% for the example.

$1 million worth of properties appreciates making you $70,000
a year in appreciation, plus like $25,000 in write-offs, you cashflow probaby $15,000 per year with the rents, they pay down the loan some, you buy each house like $10,000 under value easy to do. You can see how just sitting on your ass you are up near $75,000 per year up to $100,000 per year.

Anyways, real estate has gone up 5% on average for over 100 years.

Go buy 5 homes near no money down or 5% on a couple
that's $1 million, rent them out.

7% appreciation per year
100% divided by 7%= about 15 years

There you go if the market even slows down a lot
you still will double the $1 million within 15 years
even if you dn't buy more. If you sit on your ass within
15 years you are going to be a millionaire.

"95% of all people that become millionaires did it from real estate"

HighRoller · 07-02-2003, 05:59 AM

Kel I am glad you are doing well with the foreclosures, there is actually a better way, easier and more money to be made, maybe 2-3 times more.

DrewKole · 07-02-2003, 06:13 AM

Your math is way off.

HighRoller · 07-03-2003, 07:44 PM

Ok Drew what should the math be?

slapass · 07-03-2003, 09:53 PM

Our commercial vacancy is at 20% so I am buying. Buy pessimism and sell optimism. always hard to know if you are early or not.

wimpy · 07-04-2003, 08:24 PM

Quote:

Originally posted by HighRoller
Actually the commercial market is getting hit hard with vacancies, they are 22% all time high out here.

Exactly the right time to buy: prices and interest are both low.

Just be sure you can afford to take a loss in the short term, your goal is to get the high rent when the economy turns around.

07-01-2003, 08:27 PM	#1
HighRoller Confirmed User Join Date: Feb 2003 Location: MN Posts: 1,037	Real Estate Investing Anyone else here into Real Estate investing. I mean where you buy more than 1 other house and are actively in it?

07-01-2003, 08:28 PM	#2
booker Confirmed User Join Date: Jul 2002 Location: Baltimore Posts: 1,370	Yes. __________________ Xanadu024 (aim) or 286785389 (icq) "Hard work beats talent when talent doesn't work hard."

07-01-2003, 08:59 PM	#9
PimpRoll Confirmed User Join Date: Apr 2003 Location: PimpRoll Posts: 1,053	real estate is in most cases an investment that always makes you money, if done right ofcourse but i am not a fan of residential, i have my money in commercial properties __________________ www.PimpRoll.com - $35-$40 per Trial Join - Weekly Payouts Over 200+ Sites to Promote in 30 Niches - Free Hosting

07-01-2003, 09:37 PM	#12
booker Confirmed User Join Date: Jul 2002 Location: Baltimore Posts: 1,370	Yep, each state is different, each state has their own RE commission. There are two levels of RE involvement, being an agent and/or a broker. Each carries its own advantages and abilities. Both require an education (the 60-80 hrs) and passing an exam to be licensed, which is usually renewed every 2 years. Very profitable hobby, especially if you learned your marketing skills in the adult industry and are good with people. __________________ Xanadu024 (aim) or 286785389 (icq) "Hard work beats talent when talent doesn't work hard."

07-01-2003, 09:49 PM	#13
DirtyDanza Confirmed User Industry Role: Join Date: Aug 2002 Location: BP4L.... Las Vegas, Posts: 8,370	my advise is to get out of resi property and get into commerical... thats what we do and we make a killing.... fuck these indivuduals and hoping they make rent.... get with something like the state... then the rent is always there __________________ AVN Nominated Camming Couple

07-01-2003, 08:46 PM	#3
Caroline Confirmed User Join Date: Jul 2001 Location: 8 mile Posts: 405	from what i recall in my class, at least here in michigan, you cannot sell more that 5 homes in one year without having a real estate license. the fines are a big deal. so check with your area before you get into it. those late night commercials that tell you you can make millions.. never tell you that

07-01-2003, 08:51 PM	#4
jules180 Registered User Join Date: Feb 2002 Posts: 45	that may be true in some areas but getting a license is trivial every other housewife in my neighborhood has one, good way to save on brokerage fees too

07-01-2003, 08:52 PM	#5
HighRoller Confirmed User Join Date: Feb 2003 Location: MN Posts: 1,037	so a license takes 3 weeks and about $700 Plus it's 5 transactions, not 5 houses buy a house, sell a house that's 2 transactions. Plus you can get in with lease optiions, pre-foreclosures tons of ways without breaking the rules. The late night commercials are just a tip of the whole business.

07-01-2003, 08:53 PM	#6
HighRoller Confirmed User Join Date: Feb 2003 Location: MN Posts: 1,037	My advice to everyone, keep the easy money on the web, invest in real estate, I am not selling anything, just know that's where the money is and others do to, so meet me at internext if you ever just want to chew the fat.

07-01-2003, 08:53 PM	#7
quiet we'll miss you our friend. RIP Industry Role: Join Date: Sep 2001 Location: Fernie, BC Posts: 25,115	i'm thinking of getting involved once i leave adult.

07-01-2003, 08:55 PM	#8
Marcus Confirmed User Industry Role: Join Date: Jul 2001 Posts: 3,472	Is now a good time to buy or do you all think prices will start dropping?

07-01-2003, 09:22 PM	#11
stevo Confirmed User Join Date: Aug 2002 Location: Orlando, Florida Posts: 2,051	Each state has different laws. So many rules and regulations. In Florida for example first you have to pass a prelicensing coarse (80 hours i believe) and then you have to apply and get accepted into the FREC Licensing Coarse (60 hours). You need a grade of 70 & 75 to pass these tests. Just because you pass these tests doesnt mean you can start working on your own, you cant become an "active salesperson" until you start working under a broker. If you want to become a broker you need 6 months of real estate experience and another 70 hour class & test. I dont think Florida has a 5 transaction limit. Individual property owners are free to buy, sell, exchange, or lease their own real estate. If your providing a real estate service for someone else for commission, then you need a license. Take the class, they even offer it at some colleges, at a slower pace (instead of 8 hours a day for 7+ days at the state schools). Its pretty easy and you'll learn alot.

07-01-2003, 11:18 PM	#17
iroc409 Confirmed User Join Date: Jan 2003 Location: midwest side, yo Posts: 4,728	my uncle's had his RE license (and maintained it) since he was 19... that's like, a long ass time ago. he's an appraiser in colorado now. he's gonna help me get in the biz and do it right. __________________ <a href="http://www.iroc409.com/"><img src="http://www.iroc409.com/adv/120x60.gif" border=0></a> icq: 1 7 6 4 2 0 9 6 0 Gallery templates for ONLY $25! w00t!

07-01-2003, 11:29 PM	#18
Kel Confirmed User Join Date: Mar 2003 Location: Ashland, OR Posts: 591	If you do go residential - get your license (or partner up with someone that has theirs) and get into the knowledge circle of forclosures in your area. Map out the days on your calendar in which the county courthouses are holding their auctions. Go on a nice cold, rainy day (as most auctions are held outside on a Saturday rain or shine) when the bidding competition is weak. I've partnered up and bought/sold 2 homes like this now. A great way to make $$$. Good Luck, -Kel

07-02-2003, 05:57 AM	#19
HighRoller Confirmed User Join Date: Feb 2003 Location: MN Posts: 1,037	Actually the commercial market is getting hit hard with vacancies, they are 22% all time high out here. in early 90's they went though a really bad slump. Real estate always can slow down a little but there is way more to it than that. buy houses cheap and buy houses for the long term. Too much to actually talk about in this post. Dirty your grandpa is doing well, but that's not normal for the average person to own government buildings and lease to the state. I know people every few days that constantly buy $140,000 houses for $80,000. They make $50,000 in 1 week worth of work. I can name many people doing it and they are young and old. Do this math 5 houses $200,000 each. =$1 million Rent them all out I have seen a hot market out here 15% in fast growing cities I"ll just say 7% for the example. $1 million worth of properties appreciates making you $70,000 a year in appreciation, plus like $25,000 in write-offs, you cashflow probaby $15,000 per year with the rents, they pay down the loan some, you buy each house like $10,000 under value easy to do. You can see how just sitting on your ass you are up near $75,000 per year up to $100,000 per year. Anyways, real estate has gone up 5% on average for over 100 years. Go buy 5 homes near no money down or 5% on a couple that's $1 million, rent them out. 7% appreciation per year 100% divided by 7%= about 15 years There you go if the market even slows down a lot you still will double the $1 million within 15 years even if you dn't buy more. If you sit on your ass within 15 years you are going to be a millionaire. "95% of all people that become millionaires did it from real estate"

07-02-2003, 05:59 AM	#20
HighRoller Confirmed User Join Date: Feb 2003 Location: MN Posts: 1,037	Kel I am glad you are doing well with the foreclosures, there is actually a better way, easier and more money to be made, maybe 2-3 times more.

07-02-2003, 06:13 AM	#21
DrewKole Confirmed User Join Date: Aug 2001 Posts: 5,193	Your math is way off.

07-03-2003, 07:44 PM	#22
HighRoller Confirmed User Join Date: Feb 2003 Location: MN Posts: 1,037	Ok Drew what should the math be?

07-03-2003, 09:53 PM	#23
slapass Too lazy to set a custom title Join Date: Nov 2002 Location: Earth Posts: 14,622	Our commercial vacancy is at 20% so I am buying. Buy pessimism and sell optimism. always hard to know if you are early or not.