if you think only the stupid have lost huge money on real estate, i can only chuckle.

:)

in many way's Ted had the right idea.

Maintaining it means that you just have to keep on doing what you do best in makin gmoney. You wouldn't reach 1M without knowing what you're doing. Just continue the good stuff, and stay away from money-losing bad habits like gambling, or investing too much to double the amount the easy way.

im talking about people who take risks that are too large... if you are conservative its extremely hard to lose money in real estate

anyway back to the title of this thread, i disagree, i think its easy to maintain the money than it is to get it... the key is to be conservative... live within your means and live off your interest... how do you think a lot of rich people afford to just throw money around... once you have a ton of money you can figure out exactly what you are able to spend without going into the principal

$8000 a month for a mill invested? Pfff. Could easily pull down $20,000 to $40,000 a month with 1 million in real estate here. Still shitty returns if you ask me. :glugglug

logged on a little late to say it first, but ill repeat the correct answer. real estate.


you can buy stocks/ bonds/ start companies/ put it in trust funds

but for some reason, quality real estate is the one thing they dont make more of. if you find a knowledgable real estate agent, and learn a little yourself, you cant lose. in the past 30 years real estate is the ONLY market that has CONTINUOSLY increased year after year.

all i'd ever ask is a garanteed 10% every single year (hell, i'd take 8%), with zero risk, for the rest of my life. i would be in nirvana. instead, it will always be a job.

its almost as hard as pretending to fly on the concorde and then getting called out on it on gfy, right quiet

I keep $20 in my piggy bank as a reserve fund.

why not invest in the canadian government?

bonds? that's around 3% right?

Would love to send you 10% year after year and keep everything over. But it makes no difference, you wouldn't trust me with $20,000 much less a million or 3.

Here's to finding your 10%.
:glugglug

capital secured growth funds

you never did send me that email you said you would :)

Man I thought you were ignoring me! Damn Time Warner and their screwed up email, I'll send it again. :(

By the way, real estate is definately nice here. My friends $50,000 property brings in just over $1000 a month and you can do much better than that even. You should check somewhere that isn't so overpriced already.

no email...

50K = 1K/month is incredible.

but cheap property doesn't mean anything, by itself.... :)

It's just the market here. He had to turn down a $30,000 house recently because of no capital. It rents for $600 as is and it's not in the best shape. Everything around rents for a decent amount because of the air force base we have but the prices to purchase are way out of whack in comparison to most of the country. You could probably buy 20 $30,000 to $40,000 properties this month that rent for $550 to $650.

And the funniest thing of all around here, a $5000 used trailer in a trailer park rents for $400 to $600 as well. :1orglaugh

what's your email quiet ? was going to send the answer to something you asked me a week back

Diversify..stocks, bonds, mutual funds, 401k, real estate (income properties, commercial and residential) and create budget for yourself that you can adhere to comfortably, yet strictly. Don't over-extend or over-leverage yourself and create too many liabilities.

Of course, once you've become a millionaire you will also have a substantial and steady cash flow as well.

30k and 50k for houses??? where the fuck are you guys????

cheapest house i had ever shown was 68k, and the only way to make it livable was to tear it down and start over. and it was in the ghetto.

Quiet
I know a guy who makes 12% on hard cash loans for property
Mostly commercial/land stuff over 10% down

He has 20+ mil out there. Made all his money on stocks but doesnt want the risk now days

sounds wonderful, which is also the problem.

ultraquiet at mac dot com

plus the value that the houses go up over time. if i really did get all that $ and i had a lot of time to put into it, i would more like buy 50-75 all with mortgages and use most of the million for the down payments and use some for minimal work on the houses and make sure i save a lot for the payments when i dont have renters and if anything goes wrong. that way the renters are paying your mortgage and you make a small profit. the only problem is finding the good deals on the houses, that will take a long time, you can just find 50 houses overnight.

was I supposed to ? :(

The things you own, end up owning you. It's only after you've lost everything that you're free to do anything.

http://www.tcd.ie/Clubs/Judo/durden.jpg

Louisiana. I was dead serious about $5000 trailers pulling $400 to $600 a month as well. It's crazy how different it is compared to other places but it's been like this forever. Even if you splurged for a new $20,000 trailer to rent at $500 a month you'd be making a killing. :1orglaugh

of course not :)

I love you man!

http://www.loudithfaire.com/curtain_...joeyramone.jpg

You guys keep reffering to houses under 100k where the heck is this? Midwest or ? I don't think homes in california can be found for under 250-350k....

As far as investments I like commerical properties, never been fond of stocks and bonds since you can make better returns investing in other investments.

Jump on a plane and come to Queensland but bring your cheque book with you.

Go to little places along the coast like Yeppoon and start buying waterfront houses - nothing flash - just basic 3 to 4 bedroom houses. In around five years those places are going to be worth big money.

Down here where we live a 4 bedroom house on 1/4 acre block just across the road from the beach just went for 4 million.

The owner didn't even have it on the market - a resort developer just knocked on the door and offered him the 4 mil with no haggling - a week later the cash was in his bank account.

In 5 years time Yeppoon and further north is going to go the way of this place and developers are going to be walking around with suitcases full of money.

A house like that would be going for around $A300,000 or even less atm - that's $US221,504.42 at the current exchange rate.

Long term (10 years) intrest rate is at 6.00% here and rising.. so I would go for that:thumbsup Regular intrest rate on a savings account is 3.5% ATM.

i don't quite follow you, but if you want to spread the info ultraquiet at mac dot com...

6% interest rate where? you mean a bank account?

Why don't you buy everything there is at your place? damn I would be all over it!

I think knowing when to take the money you earn and run is as important as making it.

:2 cents:

Yep in a 10 years savings account (blocked). Fully insured. Rates are between 5.5$ and 6$ in Belgium. (edit: if you keep the money in your account for 10+ years)

retain?

retirement savings plans.
bonds.
mutual funds.
hollow matress

What ever works for you.

One thing to consider is franchising yourself, or what you do. Earn a % off those you can trust to have doing what you do.... if 5 people can get to even 50% of the earning potential you can get, and you're making a % from each, you can do very well for yourself without ever lifting a finger.

get my last 2 email quiet ?

i agree Queensland is the place to be, i would still suggest
checking out the gold coast while you're there. It hasn't been Australia's fastes growing city the last 10years for nothing
:2 cents:

Got to agree with you there - it's the only place I've ever seen the real estate agents open at 10.30 at night and still doing business.

Still - prices are already high there whereas further north it's still a good time to buy low and watch your investment appreciate.

Spread your investments, property, gold, shares, bonds, mutual funds. And make sure you live withing the profits.

As you said making the money is the easy part, resisting the urge to spend iit is hte hard part. I like to see the figure in our deposit account go up faster than inflation.