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Forum » Property is NOT how you make money..srs
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Thread: Property is NOT how you make money..srs

post 1540264991 01-11-2018, 09:59 AM
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Originally Posted By milesgiles1⏩
Events out of your control/knowledge can easily throw this theory to the winds
Exactly. I have a client that has a commercial rental. Made good money. The township/state put a center barrier in the roadway in front of the building that made anybody wanting to access from other side go far out of their way. Tenant left at lease end and it took a LONG time for a new tenant to come in and their getting less rent.
post 1540265361 01-11-2018, 10:02 AM
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Originally Posted By davik⏩
lmao
Investing wisely (not 'brilliantly' i.e. Buffet style) is simple. Be disciplined enough to live within your means (where most people fail straight off), don't buy depreciating assets (expensive cars, clothes etc), spread your investment risks and keep cash handy.

None of that is difficult, it's not like understanding thermodynamics, it's the self discipline that people fail at.
post 1540265591 01-11-2018, 10:04 AM
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Originally Posted By milesgiles1⏩
Events out of your control/knowledge can easily throw this theory to the winds
Same can be said about market and index funds. I had a near 6 figure haircut in the 2008 crash, and this was in relatively 'safe' investment vehicles.

Property can be as good an investment if you understand your market.
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post 1540265641 01-11-2018, 10:04 AM
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Originally Posted By milesgiles1⏩
Property is to store wealth already accumulated. It is not the way to get rich in the first place.


Cliffs/life advice. Get a skill. Educate yourself. Get a side hustle.Stop looking for shortcuts.Forget the words passive income. Live within your means, acquire capital, invest said capital wisely. Eventually you may feel some of your wealth should go into real estate. There ain't no easy road.
lol if you equate buying a home as some type of shortcut to anything
inb4 op has rented his entire life
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post 1540265781 01-11-2018, 10:05 AM
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Originally Posted By Norrov⏩
Eh.

I make good money from my regular career, but I now rent out 3 paid off homes and I only owe on the one I’m currently in. My job is chitty and I’m NEVER home, so hoping I’ll be able to quit the grind one day.

Repairs have been minimal so far. I’m also buying some land for RV storage and plan on eventually building storage sheds. I got some land for a decent deal that’s off the interstate.

You definitely have to make good money upfront. I’ll admit I’m fairly ignorant about other ways to invest my money, so you could be right. No point in fixing what is not broke tho.
I'd say you are doing it right, and you agree that you have the skills to be rewarded in your job.. you lived within your means and invested the surplus? In other words, property is growing the wealth you had already built up.
post 1540266291 01-11-2018, 10:08 AM
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So what do you call it when people make six figures wholesaling or selling real estate?
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post 1540266461 01-11-2018, 10:10 AM
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Originally Posted By yoxnick⏩
lol if you equate buying a home as some type of shortcut to anything
inb4 op has rented his entire life
No I have properties but that's not how I made my initial money.

The shortcut I am referring to is the typical 23 year old who has sold his auntie for a deposit on a shack and is convinced this is the start of his property empire, which will have him on east street sooner than later.

Really, some of the calculations on rent/return I have seen on here are so outlandish as to be absolutely comical.
post 1540266581 01-11-2018, 10:10 AM
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It's hard to write a thread about investing when you have to use sweeping generalizations, or if you lack personal experience in it. I do disagree with op, and I do think most people are stupid and can't handle beyond basic regurgitation of hur-dur "yeah this is how you need to do things 'round ere"
Originally Posted By milesgiles1⏩
Investing wisely (not 'brilliantly' i.e. Buffet style) is simple. Be disciplined enough to live within your means (where most people fail straight off), don't buy depreciating assets (expensive cars, clothes etc), spread your investment risks and keep cash handy.

None of that is difficult, it's not like understanding thermodynamics, it's the self discipline that people fail at.
investing wisely is a byproduct of priviledge. You have to have come from a certain level of social standing in order to have the opportunity presented to you to learn these rules. People living below a certain level of means will never learn these rules naturally (like people living paycheck to paycheck their whole lives for example)
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post 1540267011 01-11-2018, 10:13 AM
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Know somebody who makes bank off rental properties but he has a chit ton and already had a ton of money from his pharmaceutical company.

Dad rents out our condo and makes good money off of it if you keep expectations low

Friends dad had some rental houses in small town USA where I grew up and said they weren't worth it. Tenants late or not paying rent, tenants breaking chit all the time, etc...

I don't have a big desire to get into rental properties unless I have plenty of excess cash laying around
post 1540267241 01-11-2018, 10:15 AM
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post 1540267881 01-11-2018, 10:21 AM
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Originally Posted By davik⏩
you blew it by saying invest capital wisely. no one on this forum has the acumen to invest properly and no one here i doubt even has 10 million dollars to actually get some decent money back. im sick of the armchair investors on this forum

also just say money ffs. stop trying to sound like big shots by saying capital ****
How are you defining investing properly?
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post 1540268411 01-11-2018, 10:25 AM
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i know more than one millionaire who got there from real estate OP - there's a right and wrong way to do everything
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post 1540269271 01-11-2018, 10:36 AM
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No response to my question of course. Could it be OP is going off an anecdote and doesnt actually know anything?
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post 1540269341 01-11-2018, 10:36 AM
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If you already have the money to invest into real estate (ex inheritance, lotto gain, lawsuit settlement) or a massive down payment, than yes, its not a bad way to generate wealth. With increasing mortgage rates, you really want to make sure that you can easily cover the mortgage cost.

Also, I strongly doubt we will see massive property value increase like we did prior to last real estate crash. It is a good tool to grow your money for an extended period of time and generate some income. But thinking that we can all get rich flipping houses is a thing of the past.
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post 1540269451 01-11-2018, 10:37 AM
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Originally Posted By seanb1979⏩
i know more than one millionaire who got there from real estate OP - there's a right and wrong way to do everything
Again, need some detail here. What did he start with and how long did it take? Let's not act like he made millions in 10 years starting with nothing..
post 1540269881 01-11-2018, 10:41 AM
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Originally Posted By CaliSuperSport⏩
So what do you call it when people make six figures wholesaling or selling real estate?
6 figures is upper middle class. what are you asking exactly? He has a marketable skill, the same as selling cars. Invest it well, he'll be comfortable. What's your point??
post 1540270051 01-11-2018, 10:42 AM
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Originally Posted By getbig_ttt⏩
If you already have the money to invest into real estate (ex inheritance, lotto gain, lawsuit settlement) or a massive down payment, than yes, its not a bad way to generate wealth. With increasing mortgage rates, you really want to make sure that you can easily cover the mortgage cost.

Also, I strongly doubt we will see massive property value increase like we did prior to last real estate crash. It is a good tool to grow your money for an extended period of time and generate some income. But thinking that we can all get rich flipping houses is a thing of the past.
This. It's always going to be a perfectly viable investment, it's not going to magically make you rich.
post 1540270251 01-11-2018, 10:44 AM
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Originally Posted By milesgiles1⏩
6 figures is upper middle class. what are you asking exactly? He has a marketable skill, the same as selling cars. Invest it well, he'll be comfortable. What's your point??
So do you have short term memory or something? This is what you said in your OP:

"Property is NOT how you make money..srs
Property is to store wealth already accumulated. It is not the way to get rich in the first place."

Which is wrong.

Want more examples? Apartment complex owners, new development builders, new home sales agents, flippers, etc etc.
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post 1540270571 01-11-2018, 10:47 AM
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Originally Posted By milesgiles1⏩
Again, need some detail here. What did he start with and how long did it take? Let's not act like he made millions in 10 years starting with nothing..
I know some that started with construction and then became developers, buying land and creating subdivisions, or others who fixed and flipped homes, and although they didn't get rich, they made decent cash... i also know two who just kept buying investment properties to rent and are now worth quite a lot, one was my old landlord... i assume you're talking mostly about people who buy as much house as they can afford and then struggle with finances? of course thats not a good move.. people always forget about taxes/insurance/other fees too
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post 1540296901 01-11-2018, 02:57 PM
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Originally Posted By CaliSuperSport⏩
So do you have short term memory or something? This is what you said in your OP:

"Property is NOT how you make money..srs
Property is to store wealth already accumulated. It is not the way to get rich in the first place."

Which is wrong.

Want more examples? Apartment complex owners, new development builders, new home sales agents, flippers, etc etc.
if youd read a little further youd have realised I was talking about property investors trying to live off passive income. Never mentioned developers/flippers/realtors etc. That's a whole other ball game, the rules of which are completely different country to country anyway
post 1540297101 01-11-2018, 02:59 PM
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Originally Posted By seanb1979⏩
I know some that started with construction and then became developers, buying land and creating subdivisions, or others who fixed and flipped homes, and although they didn't get rich, they made decent cash... i also know two who just kept buying investment properties to rent and are now worth quite a lot, one was my old landlord... i assume you're talking mostly about people who buy as much house as they can afford and then struggle with finances? of course thats not a good move.. people always forget about taxes/insurance/other fees too
No I'm not talking about the guy living above his means in a house solely for his families use. Not at all. Lets talk about your old landlord. How old is he, where did he get the original deposit. I suspect if you are honest he is going to prove my point very well.
post 1540297461 01-11-2018, 03:02 PM
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invest for cash flow, not hoped-for-returns
post 1540297991 01-11-2018, 03:07 PM
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Originally Posted By milesgiles1⏩
if youd read a little further youd have realised I was talking about property investors trying to live off passive income. Never mentioned developers/flippers/realtors etc. That's a whole other ball game, the rules of which are completely different country to country anyway
Investment rentals are just 1 method of making money through properties. And I know a few people personally who make anywhere from $20k-40k off rentals, and I've met investors who got involved in one apartment complex at a young age and are on the verge of retirement.

Like any entrepreneurial endeavor, it's not for the faint of heart. You can't take a few seminars and generate $50k passive income. You gotta hustle your ass off. If you missed the rock bottom prices of 2012, it's also much more competitive and difficult to succeed, but absolutely possible.
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post 1540299301 01-11-2018, 03:19 PM
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Originally Posted By guest89⏩
Residential real estate is the most effective way for the banks to hide the fact that they're engaged in large scale fraud from the public.
FTFY

Saving and investing has been dead since 1971 (probably since 1913 in reality) it's all about acquiring as much debt as possible to get in as much consumption before it all blows up.

If you are serious about building your wealth then you have to think about how your investment generates goods either for immediate consumption or for uses lower down in the production process.

Get rich slowly by providing capital to those projects which generate real value, good luck and god bless.
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post 1540299421 01-11-2018, 03:20 PM
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Originally Posted By FreshStart12⏩
Bought my house for $90k. It just appraised for $170k less then 3 years later. Lol at OP.
assuming you sell it for 170 today
brb taxes
brb transfer stamps
brb realtor fees
brb closing costs
brb
brb

but yes, better than renting (in your case)
post 1540300451 01-11-2018, 03:30 PM
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OP backpedaling pretty hard itt. Not sure what the fuk you're talking about to be honest.

Where is the epidemic of 22 year old who think they can live off passive income within a couple of years? You're just talking out of your ass. The only person on this forum who brings that chit up is that one retard Ashin and he doesn't even fit the description. You're complaining about an issue that doesn't exist.

Investing in property in your mid 20's, much like investing in a 401K in your mid 20's is a GREAT idea, but not because it will generate passive income and let you retire in 5 years. It's a long term investment as a part of other long term investments, which should be a part of a balanced portfolio that includes other types of investments with various amounts of risks and terms.
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post 1540306641 01-11-2018, 04:30 PM
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Originally Posted By CaliSuperSport⏩
Investment rentals are just 1 method of making money through properties. And I know a few people personally who make anywhere from $20k-40k off rentals, and I've met investors who got involved in one apartment complex at a young age and are on the verge of retirement.

Like any entrepreneurial endeavor, it's not for the faint of heart. You can't take a few seminars and generate $50k passive income. You gotta hustle your ass off. If you missed the rock bottom prices of 2012, it's also much more competitive and difficult to succeed, but absolutely possible.
the trouble is Ive asked you and seanb to explain the success of these investors, specifically two questions

1)where the initial seed money came from
2)how long it took

neither of you are answering because you both know, or should know, that that initial money had to come from somewhere, and that property is a slow burn, not a get rich quick. If you know these guys as well as you say you do I don't know how this is even a question
post 1540306811 01-11-2018, 04:32 PM
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Originally Posted By PisseninMisc⏩
OP backpedaling pretty hard itt. Not sure what the fuk you're talking about to be honest.

Where is the epidemic of 22 year old who think they can live off passive income within a couple of years? You're just talking out of your ass. The only person on this forum who brings that chit up is that one retard Ashin and he doesn't even fit the description. You're complaining about an issue that doesn't exist.

Investing in property in your mid 20's, much like investing in a 401K in your mid 20's is a GREAT idea, but not because it will generate passive income and let you retire in 5 years. It's a long term investment as a part of other long term investments, which should be a part of a balanced portfolio that includes other types of investments with various amounts of risks and terms.
I'm hardly on the misc and Id say there is at least one guy a week who says they are getting into property letting. The only point ive made and keep making is the same as yours.. you need money to start with, and a LOT of time for that to grow, the same as any other investment. Whats the argument?
post 1540307921 01-11-2018, 04:43 PM
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Originally Posted By milesgiles1⏩
No I'm not talking about the guy living above his means in a house solely for his families use. Not at all. Lets talk about your old landlord. How old is he, where did he get the original deposit. I suspect if you are honest he is going to prove my point very well.
Never asked my landlord that (it was a she, and she was in her 80s) but I have a friend my age who's a programmer, makes good cash but not ballin, but has been able to buy some investment houses and is off to a great start. Your goal here isn't income from the rentals, you want the equity and write offs.
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post 1540308051 01-11-2018, 04:44 PM
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Originally Posted By Duckliver⏩
I don’t have any advice to give anyone. But you are very wrong on assuming people here don’t have that much to invest. Also was easily making 35k dividends with 40% of what you set as your standard for making money off investments. I’m pretty sure if most miscers could passively make that much without working they would be happy.
so you made less than 1% and the inflation rate is what again? why didnt you just say 4mil instead of sounding like a big shot by sayng 40%. its a ****ing round, easy number
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