All Forum Posts by: Tammy DeVore

Is there a topic on the lingo used on this forum? If not, could one be created? Im kinda getting lost with some of the terms I do not understand, such as s/f, Birddog, etc.

It has been my experience with in my industry, and also going to different types of courses for different types of money making stratagies, that they all just give you a little taste the first time, to sell you the second, much more expensive course. I've never taken the second courses in regards to money making stratagies, outside my industry, but within my industry, when I had read every piece of litterature i could find and still felt there must be more, I found a Forum, much like this, where I started reading, identified the ones that where successful, and started picking their brains. I've litteraly spent 5 years on that chat forum until recently , learning, now i'm one of them that gets my brains picked. So I have learned, read lots here, or other forums that have people that have been there, done that, learn from their mistakes, without having to make them yourself to learn. Identifiy the ones that are on the top, and pick their brains. lol

AS I am reading this, i'm relating it back to my industry. Regarding the renting situation and how much money to put into reno's on this property, In my industry, If i wished to attract the quality tanners, I need a nicer salon, nicer equipment etc. So right now I rent where I live. I am what you'd consider a quality tenant, I leave the property in as good if not better condition, I would not rent a place that is dumpy, or just okay. I want to rent a nice place! Right now, its a 5000 sqr foot home on the water, with Al Pachino as my neighbour ( realy good price for rent. $1500 month)

I could rent a home for $700-$1000 if i wanted to live with rats or mice in an absolute dump. So those places attract the kind of renters that can deal with that kind of dirt.

In a book by David Bach, homeowners, there was some great information regarding what your contemplating. He was showing how you can just use the equity in the home for the down payment of the next place, and keep doing that, while having Quality renters in paying the mortgage down, as the value of the home increases over the years, building your net worth. In Canada, you only have to claim that property as your prime residence one year on property taxes so when you sell the home you don't pay capital gain taxes. Not sure how that works in the US.

I just put myself in the sellers seat while reading what you wrote, and as I'm new to all this anyways, I could see how that can be very effective. I would love to read also how you would go about it if you were selling.

From reading his book myself and others like him, I would guess when he claims he did'nt have to pay it back, he would be refering to the fact his "Tenants" in the apartment complex pays back the loan.

I own 3 Tanning salons, and my husband owns a Distribution business in the same industry, and lastly , Travel business, online only.

Hi, just a quick note, when signing up, it asked me for a zip code and well in canada its a combinations of letters and numbers totaling 6, and wouldn't let me enter mine, so i had to enter a US zip code.

Okay so Im extremely new to all this, I'm probably about the nebiest newbie you will get. lol, so I will not take up your time asking questions that have probably been asked a thousand times, ( i spend a lot of time on a forum related to my business industry where i'm a veteran, and so i know how frustrating a newbie can be )

Please just tell me where to start! which forum topic should i start with and on from there! Please don't tell me to use the search function as I hate them and realy don't even know what to search for at the moment anyways! lol

A quick background. I own 3 businesses, but combined with my husband we have 5. My investing knowledge is not so great. What I've learned have come from books, "Think and grow rich" Smart couples finish rich" and other David bach books, including the real estate, "Rich dad poor dad" and "secrets of a millionar mind" lol, I do not know anyone within my circles that know anything more than me, and so I would like to learn.

I have become a leader within my industry by seeking out the ones that were very successful and learning what they did, on a forum in fact, so i'm hoping to repeat the proccess here.

Thank so much.