Secure your future with sound investing - GoFuckYourself.com

Jman69 · 12-12-2003, 10:31 PM

Fuck stocks, bonds GICS, retirement funds and all the other bullshit.

Real estate is the key.

Renting is a waste of money, your throwing money down the toilet. If you can't afford much buy a cheap condo (under 100K)

Pay off ASAP.
When you get it paid off, put the money you'd normally spend on mortgage into savings for 1 year.

When the year is up, use that money as down payment and buy a second house/condo. Rent it out.
Use that rent money + the monthly amount you can afford to pay off the second mortage.

That second house/condo will be paid off alot quicker, now buy a third.
With a third place you have 2 renter incomes + your own money, you can pay it off fast. Buy a forth etc...

This is no get rich quick scheme, it takes a long time but its a STABLE investment.
Houses dip in value but still always go up over time.

This is my plan for the future anyways, I'm on step 1 - paying off FIRST condo.

TheJimmy · 12-12-2003, 10:34 PM

thanks carlton...

aflex · 12-12-2003, 10:36 PM

sounds cool, best of luck

anidifranco · 12-12-2003, 11:08 PM

Quote:

Originally posted by aflex
sounds cool, best of luck

There is a lot of work involved with real estate. You assume people have this kind of time to invest in their investments.

anidifranco · 12-12-2003, 11:09 PM

Quote:

Originally posted by Jman69
Fuck stocks, bonds GICS, retirement funds and all the other bullshit.

You had better worry about retirement funds.

Jman69 · 12-12-2003, 11:31 PM

Quote:

Originally posted by anidifranco

There is a lot of work involved with real estate. You assume people have this kind of time to invest in their investments.

I agree it would be alot easier to spend 30 minutes with a broker once and awhile, then do what I propose.

racksale · 12-13-2003, 12:04 AM

Paying off your first investment asap is against the entire idea of borrowing money at low interest in order to invest it somewhere else. Save up some of that money and buy the 2nd and 3rd house/condos, using the revenue from the rent of the 2nd/3rd houses/condos to help pay off your 1st house's mortgage. Sit back and watch your 3 places bring you recurring money and appreciate in value.

JulianSosa · 12-13-2003, 12:09 AM

Quote:

Originally posted by racksale
Paying off your first investment asap is against the entire idea of borrowing money at low interest in order to invest it somewhere else. Save up some of that money and buy the 2nd and 3rd house/condos, using the revenue from the rent of the 2nd/3rd houses/condos to help pay off your 1st house's mortgage. Sit back and watch your 3 places bring you recurring money and appreciate in value.

What he said

GTS Mark · 12-13-2003, 12:51 AM

I already have 3 properties, 2 are rented out and paying for themselves plus the one I live in.

What step am I now?

DH

12-12-2003, 10:31 PM	#1
Jman69 Confirmed User Join Date: Nov 2003 Location: Canada Posts: 240	Secure your future with sound investing Fuck stocks, bonds GICS, retirement funds and all the other bullshit. Real estate is the key. Renting is a waste of money, your throwing money down the toilet. If you can't afford much buy a cheap condo (under 100K) Pay off ASAP. When you get it paid off, put the money you'd normally spend on mortgage into savings for 1 year. When the year is up, use that money as down payment and buy a second house/condo. Rent it out. Use that rent money + the monthly amount you can afford to pay off the second mortage. That second house/condo will be paid off alot quicker, now buy a third. With a third place you have 2 renter incomes + your own money, you can pay it off fast. Buy a forth etc... This is no get rich quick scheme, it takes a long time but its a STABLE investment. Houses dip in value but still always go up over time. This is my plan for the future anyways, I'm on step 1 - paying off FIRST condo.

12-12-2003, 10:34 PM	#2
TheJimmy ICQ- five seven 0 2 5 5 0 Join Date: Jan 2001 Posts: 10,747	thanks carlton... __________________ Investor with 5m - 15m USD to invest. Do you have a site or network of sites earning 50k - 200k a month income? Email your contact and preliminary data to: domain.cashventures (at) gmail.com....Please...no tire kickers...serious offers and inquiries only.

12-13-2003, 12:04 AM	#7
racksale Confirmed User Join Date: Dec 2002 Posts: 157	Paying off your first investment asap is against the entire idea of borrowing money at low interest in order to invest it somewhere else. Save up some of that money and buy the 2nd and 3rd house/condos, using the revenue from the rent of the 2nd/3rd houses/condos to help pay off your 1st house's mortgage. Sit back and watch your 3 places bring you recurring money and appreciate in value. __________________ Wanna talk Search Engine Optimization? ICQ: 19678140

12-12-2003, 10:36 PM	#3
aflex Confirmed User Join Date: Oct 2002 Location: New Jersey - adaptweb at gmail.com Posts: 3,127	sounds cool, best of luck

12-13-2003, 12:51 AM	#9
GTS Mark Vrume Mark Industry Role: Join Date: Jan 2001 Location: Toronto, Canada Posts: 20,912	I already have 3 properties, 2 are rented out and paying for themselves plus the one I live in. What step am I now? DH