Originally posted by THE BOUNCER
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I really want to start buying multi-family homes and get renters; a friend I know started that and he hasn't worked in years now. Told my friend we should split a 3 family home live in one section and rent out the other two then in a couple years buy another one; and so on and so on. you get like 5 or 6 of those you'd be pulling about 14,400 a month by doing rough estimates of course without figuring repair expenses. But with my background in housing construction I could do most of the repairs anyways.
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:clapback:Originally posted by the art of war View Postthat thinking kept me slammin dope for years bro - now granted we are different people, but I'm saying - you can't live in fear (not trying insult you by phrasing it that way) you have to embrace each day, live that day, squeeze whatever is put in front of you, some things squeeze more than others :hibb:
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The "Beach" Master :rofl:Originally posted by THE BOUNCER View Postyup, no doubt about it.
you must make room for other things.
think about something you like doing, lets say you like going to the beach. now imagine literally being at the beach 24/7. that shit would get old after about a day no matter how much you scream "i am 100% dedicated to this beach bitch!!" :rofl:
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that freaks me out - I hope to own my first house end of 25, and have one rented same time, even lined up a landlord etc in the area I'm looking to purchase the rental. I just refuse to take a loan out, so it will be a few.Originally posted by Konitz View PostI really want to start buying multi-family homes and get renters; a friend I know started that and he hasn't worked in years now. Told my friend we should split a 3 family home live in one section and rent out the other two then in a couple years buy another one; and so on and so on. you get like 5 or 6 of those you'd be pulling about 14,400 a month by doing rough estimates of course without figuring repair expenses. But with my background in housing construction I could do most of the repairs anyways.
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yea, just remember that to make money you have to spend money. think of the few months you wont have renters etc.. make sure you weigh the options before jumping in head first.Originally posted by Konitz View PostI really want to start buying multi-family homes and get renters; a friend I know started that and he hasn't worked in years now. Told my friend we should split a 3 family home live in one section and rent out the other two then in a couple years buy another one; and so on and so on. you get like 5 or 6 of those you'd be pulling about 14,400 a month by doing rough estimates of course without figuring repair expenses. But with my background in housing construction I could do most of the repairs anyways.
we rent out our townhouse in raleigh and have renters most of the time. but a year and a half ago the renters contract was up and our renters moved out. they fucked the house up a bit. we had to replace the carpets, re paint all the walls, get the dish washer fixed etc.. the renters didnt get their deposit money back but we still had to put out around 4k to fix the place up. on top of that it took 3 months to find new renters to sign a year and a half contract. so during that time we had to pay the mortgage for those 3 months. came out to around 4k on that alone. so if you figure in the 4k for repairs and the mortgage that comes out to 8k for 3 months! :retard:
we make money on the place now but we definitely had to put the money out to do so.
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yeah when I was 19 I shared a house w/5 other guys, it was fucking insanity, blew up walls, doors were shattered - shit was out of control. Like I said, you need a good landlord and even while I aim to own the rental in a college town - I will sure as fuck throw any hippy piece of shit out on his ass if he starts to mess with my curtains n what not.Originally posted by THE BOUNCER View Postyea, just remember that to make money you have to spend money. think of the few months you wont have renters etc.. make sure you weigh the options before jumping in head first.
we rent out our townhouse in raleigh and have renters most of the time. but a year and a half ago the renters contract was up and our renters moved out. they fucked the house up a bit. we had to replace the carpets, re paint all the walls, get the dish washer fixed etc.. the renters didnt get their deposit money back but we still had to put out around 4k to fix the place up. on top of that it took 3 months to find new renters to sign a year and a half contract. so during that time we had to pay the mortgage for those 3 months. came out to around 4k on that alone. so if you figure in the 4k for repairs and the mortgage that comes out to 8k for 3 months! :retard:
we make money on the place now but we definitely had to put the money out to do so.
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yea, we have a company find the renters and take care of the property for us. we are 600 some miles away from the place so we cant be checking up on it etc..Originally posted by the art of war View Postyeah when I was 19 I shared a house w/5 other guys, it was fucking insanity, blew up walls, doors were shattered - shit was out of control. Like I said, you need a good landlord and even while I aim to own the rental in a college town - I will sure as fuck throw any hippy piece of shit out on his ass if he starts to mess with my curtains n what not.
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yup ... Im aiming for syracuse area and I won't live near that place - I'm going to somewhere I enjoy life. I'd much rather pay the money, and if somebody needs to have knees broken I will call bouncers guido wrecking crew.Originally posted by THE BOUNCER View Postyea, we have a company find the renters and take care of the property for us. we are 600 some miles away from the place so we cant be checking up on it etc..
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The college where I live is always looking for off campus living; and the kids live in these shit holes so you wouldn't even have to keep the shit nice; slum lord style.Originally posted by THE BOUNCER View Postyea, just remember that to make money you have to spend money. think of the few months you wont have renters etc.. make sure you weigh the options before jumping in head first.
we rent out our townhouse in raleigh and have renters most of the time. but a year and a half ago the renters contract was up and our renters moved out. they fucked the house up a bit. we had to replace the carpets, re paint all the walls, get the dish washer fixed etc.. the renters didnt get their deposit money back but we still had to put out around 4k to fix the place up. on top of that it took 3 months to find new renters to sign a year and a half contract. so during that time we had to pay the mortgage for those 3 months. came out to around 4k on that alone. so if you figure in the 4k for repairs and the mortgage that comes out to 8k for 3 months! :retard:
we make money on the place now but we definitely had to put the money out to do so.
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