My Plan B------> Real Estate

Discussion in 'Pfizer' started by Anonymous, Apr 28, 2014 at 3:22 PM.

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  1. anonymous

    anonymous Guest

    In 2008 speculation and flipping was only one component of the collapse. The largest component was risky loans made to unqualified applicants. This led to defaults. We don't have near the amount of risky loans in 2016. We might be in a bubble but it is not the same type of bubble as 2008.
     

  2. anonymous

    anonymous Guest

    what happened to this thread??? This was the single most useful forum on all of cafepharma.
     
  3. anonymous

    anonymous Guest

    i own a 4 unit building and make just under 6k a month. Could not be happier I bought it.
     
  4. anonymous

    anonymous Guest

    Many of the naysayers are probably working with CSOs. They're too busy worried about that Praluent or Tanzeum contract.
     
  5. anonymous

    anonymous Guest

    i like real estate.
     
  6. anonymous

    anonymous Guest

    how much money a month profit do you guys think is reasonable to make a purchase? Do you need specif return % or set amount of cash profits?

    Anyone????
     
  7. anonymous

    anonymous Guest

    You did not provide enough info to give you an answer. What is your purchase price? Are you getting a mortgage or paying cash. Are you a cash flow investor or are looking for more appreciation? Are you doing a large portion of the work or using contractors?

    I am a cash flow investor. Minimum appreciation. Pay cash. I can purchase, restore and rent and pay off my entire investment within 3-4 years. I have been doing this for 14 years and I am very hands on.
     
  8. anonymous

    anonymous Guest

    im buying 4 unit buildings priced between 300 and 600k. I'm putting 20% down and at a minimum I want to make 1-3k a month in profit after expenses per property. I'll take a profit on the lower end of the quad is newer. My best returns are from more expensive quads I built then rented. I don't look at cash on cash return or cap rate or any metric. I don't own stocks or any other investment type. I just want to make money on every property even if I have vacancies and that's all that matters.
     
  9. anonymous

    anonymous Guest

    I'm continuing this post from above....I forget to mention that my plan is to never ever sell anything. Just pay off debt and keep buying until I die.
     
  10. anonymous

    anonymous Guest


    After a certain amount of properties with mortgages will the banks loan you anymore money? If you can't get regular financing what interest rate will the other lenders charge?
     
  11. anonymous

    anonymous Guest

    I get loans because I have a long and well built relationship with a local banker. Show him my houses and that after creating a plan for my businesses I can get loans and renovation/build money as long as I can bring 20% down. Sell your buisness talents to a local bank and let your spreadsheets do the talking. Actually when I first got my original 200k line of credit I shopped it and found an aggressive banker at another bank to match it and whom wanted to discuss buisness. It's been great so far.
     
  12. anonymous

    anonymous Guest

    Who the F is the dude above that lived in his storage unit. How can that madness happen?????????
     
  13. anonymous

    anonymous Guest




    I worked with a guy in the late 1990's who lived in his friends retail shop. After it closed he had an air mattress. Small closet in rear for his suits. Used the gym to shower. Between food and gym membership he was living on a couple hundred dollars a month. This was the time of dine and dash so he was eating for free. He did this for almost 3 years and bought a home for cash.
     
  14. anonymous

    anonymous Guest


    Sounds like a pathetic lonely disgusting life .
     
  15. anonymous

    anonymous Guest

    Well this was me guys. Still work for Pfizer to this day. Going on 10-18yrs (in that range). Here is how it's done. I knew a storage unit manager. Met him in a real estate meet up group. He had garage bays for rent in His storage facility. Pfizer paid for a small unit and he finagled the paperwork for it to cover a larger garage bay. I paid the small difference in what Pfizer didn't cover. I pulled in a giant conversion van and had access to an electric plug. That plug and a power strip gave me life. Space heater, AC unit, hot plate, wifi router, college fridge is all I needed plus an insulated inside cab and a blow up mattress. I had the Pfizer car and gas was covered. So essentially my only expenses were 150$ give or take for the storage unit. Gym membership, dry cleaning my suits and food. I saved multiple tens of thousands of dollars doing it and it's the reason I'm going to retire at 50. I worked to not have student debt and paid cash for my modest house that I now rent out along with 6 other houses I paid cash for all from savings U accumulated while living in the unit. PLUS, I found a frugal wife that's all in. I went through 2 girls who thought I was weird but I found one that was impressed with my frugality and we have been married for 7 years and saved her entire salary Each year for 6 years until we had our first kid. If you can avoid luxury and be happy you can be more free than you ever thought possible.
     
  16. anonymous

    anonymous Guest


    Whatever. You are third guy on this thread to talk up this game.
     
  17. anonymous

    anonymous Guest

    i own 34 houses in a small town in Maryland where I grew up. I bought them over the last 23 years and I'm close to retiring. I can answer any questions.

    Buy property; it's a good choice is what I would add.
     
  18. anonymous

    anonymous Guest

    I was a part-time real estate agent for 15 years. Real estate is great and rental properties can be a major headache. It is not easy. One needs a lot of time and a lot of patience. If you cannot do repairs be prepared to pay dearly for labor. This is not a hobby for all people. It is work and do not let anyone scam you emotionally or financially about it.
     
  19. anonymous

    anonymous Guest

    In my opinion as a long time rental property owner as long as you buy a solid house that gets all your inspection items taken care of all you need to to have free time (because you work sales at Pfizer) and 10k in cash cushion.

    10K usually covers the worst of the worst problems and those happen so rarely if you get good tenants. Rental property is easy. THE ONE WAY TO MAKE IT HARD IT TO OWN PROPERTY MORE THAN 15 MINUTES FROM WHERE YOU LIVE. Thats the big problem. Going over and over again and having to dive long distance.
     
  20. anonymous

    anonymous Guest

    i cant believe that this thread has gone bad. This is the single easiest way to become rich in America. Once it was a wealth of knowledge. Now it's poo poo.