Cyba's Real Estate Investor Thread (What would I do if I started over today?)
- Thread starter CybaCipha
- Start date
Phenomenal Thread. Thanks playa. If dudes took a minute from talking shit and looking at pussy and devoted a fraction of that energy to this they probably be able to build a successful business.
Oh well... like they say its lonely at the top and jam packed at the bottom.
My ass is going to the top.
Oh well... like they say its lonely at the top and jam packed at the bottom.
My ass is going to the top.
Did the deal work out?
Bump x2
We will be doing an encore of Thursday night's call.
Pretty simple. The feedback from the attendees was great.
People (now more than ever) simply want to know how to fund their business.
We will be doing it again on Sunday and here is what's going to be
cover (the hottest topic out there)......
"Where's the money AND how do I get my hands on it."
The call will be tomorrow night at 8:30 EDT.
You can register here:
www.KCTrainingWebinar.com
Pretty simple. The feedback from the attendees was great.
People (now more than ever) simply want to know how to fund their business.
We will be doing it again on Sunday and here is what's going to be
cover (the hottest topic out there)......
"Where's the money AND how do I get my hands on it."
The call will be tomorrow night at 8:30 EDT.
You can register here:
www.KCTrainingWebinar.com
This is great info. I posted my plan to retire in another thread.
My approach is different due to the market in Philly. Meaning you can buy liveable houses out here for under 20k. I've done it. From there I section 8. These houses are not in great neighborhoods, in fact some are in North Philly.
So, my first house 3 years ago cost me 12k to buy. I put in 4k (doing a lot of work myself) So 16000 total investment.
Section 8 pays me 700 per month for rent. Straight into my account.
16,000/750=21 months.
It's paid off now and still earning 750 a month. To date I've done this 4 times. 3,000 a month
Soon all 4 will be paid off by section 8. I'll be earning 3k free and easy
After using my first 12k I refinanced the house and used the cash to by the next 4. Rinse and repeat. Each time my tentants basically paid off the loans.
2nd plan the will take me over the top.
Many out of state techinical contractors and traveling nurses need temp housing. I'm planning on buying a house in a neighborhood I would live in, close to this business park.
Rent it out to Contract workers. I've already contacted the companies that hire them and inquired about leasing my houses I plan to buy. Once one rents, they literally hand them to the next contrator. Steady income from working people.
Contract workers arent trying to set up shop in your crib. They work, come home and pay the rent on time.
My plan to retire
My income will be all passive. Once I hit over 5k a month I'm moving overseas to Costa Rica or Ecuador and live like king on that money.
I also build websites and smart phone apps. Which means my side income will be on line too. I've never met a client.
Rinse and repeat till ya clean fellas
My approach is different due to the market in Philly. Meaning you can buy liveable houses out here for under 20k. I've done it. From there I section 8. These houses are not in great neighborhoods, in fact some are in North Philly.
So, my first house 3 years ago cost me 12k to buy. I put in 4k (doing a lot of work myself) So 16000 total investment.
Section 8 pays me 700 per month for rent. Straight into my account.
16,000/750=21 months.
It's paid off now and still earning 750 a month. To date I've done this 4 times. 3,000 a month
Soon all 4 will be paid off by section 8. I'll be earning 3k free and easy
After using my first 12k I refinanced the house and used the cash to by the next 4. Rinse and repeat. Each time my tentants basically paid off the loans.
2nd plan the will take me over the top.
Many out of state techinical contractors and traveling nurses need temp housing. I'm planning on buying a house in a neighborhood I would live in, close to this business park.
Rent it out to Contract workers. I've already contacted the companies that hire them and inquired about leasing my houses I plan to buy. Once one rents, they literally hand them to the next contrator. Steady income from working people.
Contract workers arent trying to set up shop in your crib. They work, come home and pay the rent on time.
My plan to retire
My income will be all passive. Once I hit over 5k a month I'm moving overseas to Costa Rica or Ecuador and live like king on that money.
I also build websites and smart phone apps. Which means my side income will be on line too. I've never met a client.
Rinse and repeat till ya clean fellas
I like this plan. We should talk soon. Keep up the good work.
Damn sounds like you some Rich Dad Poor Dad type of shit. Good job.
Anyone fuck with foreclosures.com? Looks like they want 39/month. Seems a little steep
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Great threat. Eventually, I want to get into real estate, buy a few rental homes for residual income. Can any of you cats out there who are doing this recommend any books or online classes where you can learn the realist game. Thanks
Philly
I read Real Estate Investing for Dummies. Its a cheap book that should u get you started on the way.
I read Real Estate Investing for Dummies. Its a cheap book that should u get you started on the way.
bump
bumpp
I am bumping this thread back up to see if anyone has any updates. This thread and the posters are AWESOME!!!
Does anyone have any of Ron LeGrand's training videos or material?
Reading through the thread now. Bump.
My man @nu_work hit me up asking to give an update.
The positives:
I'm not driving Bentleys but my cars are paid, my debt is at almost zero, my credit score is over 800. All from real estate.
The negatives:
I would lying if I left out the bad shit. I had an underwater property that I couldn't shake, the IRS came after me for 50 racks and let's not forget the personal shit everybody goes through (family, medical, death, etc). It's a struggle, but it's a beautiful struggle.
What's next for Cyba:
I'm in the process of refinancing and trying to be like @RepostKing and buy at least two from the equity. I've been focused on raising these kids, moving into CyberSecurity and paying down the mortgages now that I don't really have any debt. When I leave IT I will probably get my real estate license but I haven't been focused on new shit in years. I'm just at the point where I feel confident again and if I can get the next 1 or 2 properties in 2021/2022 I will have some passive income to start stacking for the next project.
I'll keep you guys posted.
The positives:
I'm not driving Bentleys but my cars are paid, my debt is at almost zero, my credit score is over 800. All from real estate.
The negatives:
I would lying if I left out the bad shit. I had an underwater property that I couldn't shake, the IRS came after me for 50 racks and let's not forget the personal shit everybody goes through (family, medical, death, etc). It's a struggle, but it's a beautiful struggle.
What's next for Cyba:
I'm in the process of refinancing and trying to be like @RepostKing and buy at least two from the equity. I've been focused on raising these kids, moving into CyberSecurity and paying down the mortgages now that I don't really have any debt. When I leave IT I will probably get my real estate license but I haven't been focused on new shit in years. I'm just at the point where I feel confident again and if I can get the next 1 or 2 properties in 2021/2022 I will have some passive income to start stacking for the next project.
I'll keep you guys posted.
Thanks for the update man. You're insights and allowing others to learn from your experiences is a huge help.
I'm saving up with an eye on buying my first property (lifetime renter) within the next 2 years or so, which I really want to be a house hack. I suck with the accounting and numbers, but trying to get up to speed on all that in the meantime. I'm still foggy on how the financials work in order to use the equity in one property to fund the 2nd...
Congrats. Don't have to be driving a bentley to be successful. As long as you get to control your time and enjoy your life, you're winning.
I want to expand into real estate, but I'm scared because I know me. I can take the market crashing. What I can't take is some fool trying to fuck me over if they suspend rent over a bad covid outbreak. I don't want to run around creating a shitton of tax events flipping. Also, all that shit too much work for me.
I wish there was a post-plague thread on this with successful cats around here. We got the market/crypto threads bumping around here.