All Forum Posts by: Adam F

You let people you don't know look inside / walk around your properties without supervision?? 

Setup a separate account. You don't want to have to reconcile your personal bank account on your books if/when you are business. 

It would be interesting to sort responses by total personal accumulated wealth. I think it would enlightening.

Start a business. Bunker down for the first 5 years and pay off everything. Once you start building a cash flow machine, convert the excess cash flow into RE or other cash flowing opportunities. Pool those cash flows and buy more. If you have enough streams, eventually you will build a waterfall. 

You would need insane income though to build anywhere near $100M in assets.

RE is a business. All businesses have to assess whether they OK with being beholden to the bank or not. You may not make as much money being leveraged, but your ability to weather **** storms and benefit from them increases dramatically. 

I have been in business for 12 years now, and I own >5M in assets for the mfg business alone. Paid for. Done. If I had financed as I had gone alone, I wouldn't be in the same position. I may not have survived the numerous swings we've encountered over that time period and I definitely wouldn't have been able to profit from them.

Sounds like you need a break. 

Yes, but calling it the "2% guideline" has a less impact on the newbie. Once you have the experience who ever really looks/plays by the rules anymore? 

Our 14k pj dump trailer just about killed us. It was so heavy it could drift the back end of our 2010 Toyota truck off the highway around corners. We sold that truck quickly and bought a F550. Be very careful of towing big trailers with undersized trucks, or worse, Prius's. 

I put up a couple steel warehouses for $28/sq foot with concrete, electrical, plumbing and labor. But those were shells (no interior finishing) and we got a hell of a deal on the buildings. I would be amazed if you could pull it off. Maybe convert cargo containers. :)

You need more money. $20k isn't going to do much of anything. You need like $125k to play in these waters. 

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