Double or triple yourself
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Double or triple yourself (by NE [PA]) Mar 28, 2018 12:23 PM
       Double or triple yourself (by David [MI]) Mar 28, 2018 12:25 PM
       Double or triple yourself (by LindaJ [NY]) Mar 28, 2018 12:31 PM
       Double or triple yourself (by Chris [CT]) Mar 28, 2018 12:46 PM
       Double or triple yourself (by David [MI]) Mar 28, 2018 12:49 PM
       Double or triple yourself (by S i d [MO]) Mar 28, 2018 12:54 PM
       Double or triple yourself (by AllyM [NJ]) Mar 28, 2018 12:55 PM
       Double or triple yourself (by AllyM [NJ]) Mar 28, 2018 12:59 PM
       Double or triple yourself (by David [MI]) Mar 28, 2018 1:02 PM
       Double or triple yourself (by #22 [MO]) Mar 28, 2018 1:06 PM
       Double or triple yourself (by Lynda [TX]) Mar 28, 2018 1:42 PM
       Double or triple yourself (by NE [PA]) Mar 28, 2018 1:53 PM
       Double or triple yourself (by Richard [MI]) Mar 28, 2018 2:10 PM
       Double or triple yourself (by myob [GA]) Mar 28, 2018 2:22 PM
       Double or triple yourself (by Landlord ofthe Flies [TX]) Mar 28, 2018 2:26 PM
       Double or triple yourself (by Pmh [TX]) Mar 28, 2018 2:33 PM
       Double or triple yourself (by cjo'h [CT]) Mar 28, 2018 3:58 PM
       Double or triple yourself (by cjo'h [CT]) Mar 28, 2018 4:14 PM
       Double or triple yourself (by GKARL [PA]) Mar 28, 2018 4:28 PM
       Double or triple yourself (by Deanna [TX]) Mar 28, 2018 6:49 PM
       Double or triple yourself (by nhsailmaker [NH]) Mar 29, 2018 5:14 AM
       Double or triple yourself (by David [MI]) Mar 29, 2018 6:06 AM
       Double or triple yourself (by Vee [OH]) Mar 29, 2018 6:15 AM
       Double or triple yourself (by GKARL [PA]) Mar 29, 2018 9:01 AM
       Double or triple yourself (by Wilma [PA]) Mar 29, 2018 12:06 PM
       Double or triple yourself (by WMH [NC]) Mar 29, 2018 12:32 PM
       Double or triple yourself (by Oregon Woodsmoke [ID]) Mar 29, 2018 12:32 PM
       Double or triple yourself (by Oregon Woodsmoke [ID]) Mar 29, 2018 12:34 PM
       Double or triple yourself (by myob [GA]) Mar 29, 2018 12:58 PM
       Double or triple yourself (by GKARL [PA]) Mar 29, 2018 1:27 PM
       Double or triple yourself (by J [FL]) Mar 29, 2018 1:29 PM
       Double or triple yourself (by Pmh [TX]) Mar 29, 2018 3:05 PM
       Double or triple yourself (by NE [PA]) Mar 29, 2018 3:57 PM
       Double or triple yourself (by MYOB [GA]) Mar 29, 2018 6:07 PM
       Double or triple yourself (by Still Learning [NH]) Mar 30, 2018 5:22 AM
       Double or triple yourself (by Pmh [TX]) Mar 30, 2018 2:16 PM
       Double or triple yourself (by NE [PA]) Mar 30, 2018 2:50 PM
       Double or triple yourself (by pmh [TX]) Mar 30, 2018 3:09 PM
       Double or triple yourself (by mike [CA]) Apr 1, 2018 8:55 AM
       Double or triple yourself (by Tim [IL]) Apr 1, 2018 10:06 AM
       Double or triple yourself (by myob [GA]) Apr 8, 2018 5:52 AM

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Double or triple yourself (by NE [PA]) Posted on: Mar 28, 2018 12:23 PM
Message:

Regardless of whatever you are worth right now, today, why are you not worth two or three times that? I ask this with the intention of getting you to think a little bit and maybe analyze what you may have or could've done differently along the way.

It doesn't have to be RE based.

--174.201.xx.xxx




Double or triple yourself (by David [MI]) Posted on: Mar 28, 2018 12:25 PM
Message:

Because of the law of supply and demand --12.47.xx.xxx




Double or triple yourself (by LindaJ [NY]) Posted on: Mar 28, 2018 12:31 PM
Message:

Because I worked a lot, but still made time for the important things of family and friends. There was only so much I was willing to risk. Money is only part of a happy life. I am very comfortable, I am happy with what I have achieved and the family I have. More money or worth would not mean anything to me.

--96.236.xx.xx




Double or triple yourself (by Chris [CT]) Posted on: Mar 28, 2018 12:46 PM
Message:

I'm working on it, I'm only 32 I have no plans to stop anytime soon.

--24.45.xxx.xxx




Double or triple yourself (by David [MI]) Posted on: Mar 28, 2018 12:49 PM
Message:

Chris, are you working on a time machine? You can't magically make yourself worth 2-3 times your current worth --12.47.xx.xxx




Double or triple yourself (by S i d [MO]) Posted on: Mar 28, 2018 12:54 PM
Message:

I started out with a very small, limited scope growing up. Everyone in my family worked for the Govt in low-level jobs: admin assistants, etc. I had one Uncle who was in IT for MO Dept of Transportation, and he was my "rich uncle". Relatively speaking, though, even he was below what most mid-level corp managers would make.

So when I grew up, I didn't have much knowledge or desire to achieve anything higher. In this way, I was probably like a lot of kids who grow up in lower income families. We were never poor, but the level of aspiration was to work from age 20 - 60, get a pension, retire, and live on pension, die and maybe leave the house to the kids to sell and split up the proceeds, take a nice vacation, and that's it for generational wealth.

Then in college I started getting interested in real estate. I met a guy about my age (junior in college) who already owned a house and rented out rooms. Shortly after, I decided I wanted to buy my house...so right after college I did just that.

During that purchase, I got interested in the life of real estate agents based on the one broker I worked with. I got my license and did the real estate gig for 2 years part time (taught HS the rest of the time). Met a few investors who owned rentals. My scope grew. Why own just one house? Why not own the block? I always enjoyed Monopoly growing up.

Time went on... I learned more and my scope and knowledge grew. I began to devour everything I could get my hands on regarding real estate investing. Started the journey in 2005.

I'm not a fan of "reliving life" because who know what would have ACTUALLY happened? I might have invested heavily right before the bust of 2008/09 and gone down the tubes. Or if I'd grown up in a high-protein family of savvy business owners, maybe I'd be worth $50 million today. Who knows?

All I can do is decide what to do with the time given to me.

--173.17.xx.xx




Double or triple yourself (by AllyM [NJ]) Posted on: Mar 28, 2018 12:55 PM
Message:

Because I didn't deposit my yearly bonuses from corporate into my 401 K account. The company would have matched it too. But I wanted to live in a safe neighborhood near the college where I was getting my Masters and that cost more so I used the money for food and rent. The amount I did put it blossomed over thirty years though and moreso from November of 2016 on. --69.141.xxx.xxx




Double or triple yourself (by AllyM [NJ]) Posted on: Mar 28, 2018 12:59 PM
Message:

Because I didn't recognize a printed copy of the Declaration of Independence I found behind an old print was that valuable and neither did my parents. I sold it at the flea market and just saw the guy on tv who bought it from me. --69.141.xxx.xxx




Double or triple yourself (by David [MI]) Posted on: Mar 28, 2018 1:02 PM
Message:

ohhh i have one. Be cause I didn't buy 1000 shares of AMZN, GOOGL, and AAPL ten years ago. --12.47.xx.xxx




Double or triple yourself (by #22 [MO]) Posted on: Mar 28, 2018 1:06 PM
Message:

Tough to say..so easy to play hindsight against oneself. I missed out on a speculative deal bc I didn't have funds and courage to pull the trigger.. would've netted more than half a mil on a 200k buy.. I won't make that mistake again --174.234.xxx.x




Double or triple yourself (by Lynda [TX]) Posted on: Mar 28, 2018 1:42 PM
Message:

I stayed small on purpose. I had a full time govt job, an absent overseas husband, and 2 young daughters at home. The 6 properties I bought and managed was enough to keep me FULLY occupied, and enough to accomplish my goals. Since 2012 I have sold off my properties one at a time as the tenants paid off the mortgages. Each sale accomplished something for me (paid off debt, funded a stock acct, bought condo in Caribbean, etc). I have interest in non-RE avenues now, and as decrease properties and minimize management, I increase the time and money I have for other things and other places.

I never felt any need to dbl or triple my wealth because it would have required me to increase my effort way past what I was willing to give out. And would have required me to give up the more imp things I was needed for--namely involvement in my daughters lives (basketball, cheer-leading, soccer and choir). With dad overseas, I was all they had! Staying small allowed me to do all the RE I needed in order to do all the other things I needed to do.

--108.87.xx.xxx




Double or triple yourself (by NE [PA]) Posted on: Mar 28, 2018 1:53 PM
Message:

A big one of mine is the fear of "what might go wrong?" If I do this, so I don't do it. Then someone else does and makes a fortune.

Vision sometimes as really stifled me. --174.201.xx.xxx




Double or triple yourself (by Richard [MI]) Posted on: Mar 28, 2018 2:10 PM
Message:

D-I-V-O-R-C-E

And some of that other stuff.

But as it is said, it's only money. They can't take what you know, so just get after it and make more.

The main thing is no matter what happens - you lose your work, you lose all your houses, all your money, it is all replaceable. Just get after it. --23.121.xx.xxx




Double or triple yourself (by myob [GA]) Posted on: Mar 28, 2018 2:22 PM
Message:

That's a powerful question. NE it hits right in the soft spot. The bigger question may be am I worth what I thought I would be worth when I started out.

I'm worth what I started out wanting to be worth. Have a satisfying life. Family involvement with no just our future but theses also. I wanted about 20 SFHs and have 63. Wanted to travel when ever I want-- and I do. I don't overspend on things but don't have to think twice if I want something----- if I could afford it.

I don't want 3X's more-- sounds crazy. Don't want 10 gazillion $'s either. (if it fell into my lap sure I'd thank the big guy above but I'm not asking for it).

I sleep well at night. --99.103.xxx.xxx




Double or triple yourself (by Landlord ofthe Flies [TX]) Posted on: Mar 28, 2018 2:26 PM
Message:

Income taxes.

It's hard to get ahead when you take two steps forward and one step back. --108.69.xxx.xxx




Double or triple yourself (by Pmh [TX]) Posted on: Mar 28, 2018 2:33 PM
Message:

interesting question. if I had to start all over again I would have started investing in stocks way before I did. I didnít bc I was working my way through school and ate ramen every day. but if I had taken some $ off the top of each paycheck for each job I had (sometimes working at two at same time) and invested then I would be a lot wealthier than I am now. the adage to pay yourself first is what I teach my kids. although college students they save 10% of each paycheck and I help them choose investments. I donít worry about coulda/woulda/shoulda. that would be useless. have I done well since. yes. could I have done better. sure. but I donít care. I just look forward. --104.218.xxx.xx




Double or triple yourself (by cjo'h [CT]) Posted on: Mar 28, 2018 3:58 PM
Message:

NE, what can go wrong,when you know what you're doing,Now tell me again!..........................charlie.................repeat again,slowly............................................................................................

.. --174.199.xx.xx




Double or triple yourself (by cjo'h [CT]) Posted on: Mar 28, 2018 4:14 PM
Message:

NE,like Sid said,most of us grew up poor but nobody told us we were! So everyone ate good maybe didn't have much money,so what you have now is more than you had before.It's all relative............charlie.................................................................... --174.199.xx.xx




Double or triple yourself (by GKARL [PA]) Posted on: Mar 28, 2018 4:28 PM
Message:

I'm satisfied where I am. I wish I had been more frugal when I was younger and far less engaged in consumption and this is something I preach a lot to my kids. At this point in my life, I'm not into "stuff". I got started late in the real estate game so that controls my strategy which is focused on multi-family buy and hold. With my next acquisition, I will hit my income target which is my main focus. I'm looking for strictly cash flow and setting up the management systems where this thing is as passive as possible. Passive for me means dealing with the properties 2-4 hours a day. That's like a vacation compared to the stress of running an accounting business. I've been running my own business (and helping run other people's business) for over 30 years and quite frankly, I no longer want the stress of that. My whole thing is to transition to a more passive business and get my time back. For me that's wealth.

--64.121.xxx.xxx




Double or triple yourself (by Deanna [TX]) Posted on: Mar 28, 2018 6:49 PM
Message:

I could be further along than I am-- but I don't have any desire for debt. I've tried it; I don't care for the loss of control and the accountability and having others involved in my business. This way is the slow way... but I'm okay with being slow and steady, rather than risky and aggressive.

I'm limited by the fact that we never buy anything turnkey. So my purchasing budget is limited, and my renovation budget is more generous-- but comes in the form of the monthly rent of all the working houses, trickling in a month at a time. I can generally buy two, three, four houses per year, but depending on how much work is necessary, I can only afford to renovate, perhaps, two houses in a year. So right now, I'm working on one house we acquired in 2016, and one house we acquired in 2017; but I still have four more in the renovation queue. I should have one house finished by mid-April; I should have the other house finished by the end of the semester; I hope to have two more out of my backlog by the end of the year.

It would make sense to take out a loan or something to speed up the renovation calendar. Suppose each house costs me $500/month in lost rent, in addition to actual charges, like the cost of yard maintenance on a vacant property. That's definitely a chunk of change I'm losing out on. But that's the trade-off for being conservative-- I could always grow faster, but I would have less control. And control is important to me. Which is why we're in real estate in the first place. --96.46.xxx.xx




Double or triple yourself (by nhsailmaker [NH]) Posted on: Mar 29, 2018 5:14 AM
Message:

The past president had 8 years of stagnate growth - killed my most productive years --24.34.xx.xxx




Double or triple yourself (by David [MI]) Posted on: Mar 29, 2018 6:06 AM
Message:

idk, nhsailmaker, I did quite well under the past president. Only when 2017 roll around did all the deals dry up. --12.47.xx.xxx




Double or triple yourself (by Vee [OH]) Posted on: Mar 29, 2018 6:15 AM
Message:

I will be but unable to spend time here, will be spending some time to restart a liquid oxygen facility obtained at auction then sell to Space-X in five years if they are around, if not I will build something experimental and just fly around below the radar watching all of you. --76.188.xxx.xx




Double or triple yourself (by GKARL [PA]) Posted on: Mar 29, 2018 9:01 AM
Message:

Outside of a few standards, there's no one way and that's why I don't judge how someone pursues their path. Those who avoid debt have a point IMO. Those who leverage like I do have one as well. Both entail risks although the latter entails more IMO. My impending purchase will be the last one for awhile and I'll focus on consolidating. Chasing after too many dollars is also risky IMO. --64.121.xxx.xxx




Double or triple yourself (by Wilma [PA]) Posted on: Mar 29, 2018 12:06 PM
Message:

I think that I'd answer that it's mostly because I stayed home to raise kids and hold down the farm (including rental management) while my hubby worked hard for us.

But I have no complaints - our fee-only financial advisor noted a couple of years ago that while we did not take advantage of many traditional investing opportunities, we'd been smart enough to invest in RE and pay off the properties. We lived the lives of the poor and insignificant for 30+ years, then looked up to discover that we were in fine shape for "earlyish" retirement.

And, yes, Dad left me a little something, that is mostly handling our medical insurance costs until we hit 65. --71.175.xxx.xxx




Double or triple yourself (by WMH [NC]) Posted on: Mar 29, 2018 12:32 PM
Message:

We believed in investing and the magic of compound interest but lost at least half of all we had at least twice in crashes and as for compound interest... --50.82.xxx.xx




Double or triple yourself (by Oregon Woodsmoke [ID]) Posted on: Mar 29, 2018 12:32 PM
Message:

Because this is the level I am happy with. I've got the quality of life I want and I can't make myself gag down dealing with any more tenants than what I already have to deal with.

I live where I want to live instead of an area where real estate profits are epic but life sucks. --174.216.xx.xx




Double or triple yourself (by Oregon Woodsmoke [ID]) Posted on: Mar 29, 2018 12:34 PM
Message:

The big real estate crash did hurt quite a bit. Values way down, rents way down, recovery slow. --174.216.xx.xx




Double or triple yourself (by myob [GA]) Posted on: Mar 29, 2018 12:58 PM
Message:

Oregon ID can I mention one thing about the CRASH. It was a god send for us. One company had 26 of our mortgages. We told them flat out either we get refinanced and at a much lower interest or you will be getting these properties back. We are not letting the whole company go down because you now say you don't want to "refi investors". We told them that's to bad. We then hired the best Bankruptcy attorney in our state. He was not cheap believe me. We told him to send out the feelers to the bank of what our intentions were. So deal or watch us go to B/K and try to get the 26 back. When I read our attorneys letters to the lender I felt bad for them. I never read a letter on one page that kicked the you know what out of the lenders like this before. Remember this was when there were 100's of properties going to foreclosure every month 100's and 100's and no one was buying. Except us and 3 other investors.

Banks were taking back property's until they yelled uncle. Someday I'll go into all the details here on the site.

Needless to say they asked us if we could buy them out. So 130K loan we paid 9,800 and got title free and clear. we did that on at least 15 of the 26. --99.103.xxx.xxx




Double or triple yourself (by GKARL [PA]) Posted on: Mar 29, 2018 1:27 PM
Message:

MYOB, that's an excellent deal, but that's also why once the banks cut you off now once you have so many loans outstanding with them. They don't want the exposure. --64.121.xxx.xxx




Double or triple yourself (by J [FL]) Posted on: Mar 29, 2018 1:29 PM
Message:

"I ask this with the intention of getting you to think a little bit and maybe analyze what you may have or could've done differently along the way."

Too many things to even list here. --72.188.xxx.xx




Double or triple yourself (by Pmh [TX]) Posted on: Mar 29, 2018 3:05 PM
Message:

am I understanding your post correctly myob ? you stiffed your lenders ? and me as taxpayer thus subsidized your buy out (?) --104.218.xxx.xx




Double or triple yourself (by NE [PA]) Posted on: Mar 29, 2018 3:57 PM
Message:

PMH. He's not the only one. I know other investors who have. The man in the movie the queen of Versailles did the same. Myob seems to have played the game from the correct angle. Wish I knew it incase I ever needed it or could capitalize on it when it's happening to others. --50.32.xxx.xxx




Double or triple yourself (by MYOB [GA]) Posted on: Mar 29, 2018 6:07 PM
Message:

Pmh yes thank you. --99.103.xxx.xxx




Double or triple yourself (by Still Learning [NH]) Posted on: Mar 30, 2018 5:22 AM
Message:

Missed our first 2 real estate opportunities right after college due to not having money. Can't remember exact figures. In town lots in the boxed in canyon of Telluride CO were 50-100K, would have made a huge return. Rented a 5 bedroom home on the beach in Rye, NH as a winter rental that they put on the market for 130-190K and offered to us first. Worth millions now (although redone after a storm took it out, and then totally redone with new owners). --24.61.xxx.xx




Double or triple yourself (by Pmh [TX]) Posted on: Mar 30, 2018 2:16 PM
Message:

so we have LLs who stiffed lenders and those LL complain about tenants stiffing them on rents.....as a taxpayer myob, although we in same business, I truly hope that catches up to you. and it will, bc you didnít abide by what you agreed to do. --104.218.xxx.xx




Double or triple yourself (by NE [PA]) Posted on: Mar 30, 2018 2:50 PM
Message:

PMH, that's personal ethics overshadowing legal processes. --50.32.xxx.xxx




Double or triple yourself (by pmh [TX]) Posted on: Mar 30, 2018 3:09 PM
Message:

precisely --166.137.xxx.xx




Double or triple yourself (by mike [CA]) Posted on: Apr 1, 2018 8:55 AM
Message:

soothe yourself all you want...stiff a lender and you are a deadbeat.

that said, take more calculated risks, use debt wisely...and start earlier. and never step over dollars chasing pennies. i've let my indignation ruin deals. as an example, i once got all mad when a foreclosed condo seller told me they wouldn't pay a buyers commission on a $52,000 condo (about $1500, brad has that much in his sofa cushions)...my dumb self told them to keep it. what i should have said was "fine, let's go" the property was a cash flow winner from day one and is worth more than 8x that now. don't be your own worst enemy --76.176.xxx.xxx




Double or triple yourself (by Tim [IL]) Posted on: Apr 1, 2018 10:06 AM
Message:

Some. All that Glitters is not gold. I value my time way more than money. I have something most people will never have. Enough. Now, I am still buying and growing, just doing it on my terms. --73.22.xxx.xxx




Double or triple yourself (by myob [GA]) Posted on: Apr 8, 2018 5:52 AM
Message:

Pmh TX thank you. we tried everything to get the lender to renegotiate the terms NEVER the amount owed. THEY offered 9 at penny's on the dollar-- which we gave.

The best part was not paying any mortgage payments for 4 years- while still renting out the places and collecting rent. We still maintained the proeperty's and had to deal with lenders "agents" kicking in doors (illegally) but we then used the rent money collected to buy the best ones back at foreclosure. So maybe your wish for us has come true-- we were punished by getting 19 property's back and we're still LL's. Oh and some of the property's the lender couldn't find our loans because the lenders parent company went B/K and their employees LOST loan files.

Again thanks. You know not what you speak of because you weren't involved. Normal reaction when you don't know the details so we understand. --99.103.xxx.xxx



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