All Forum Posts by: Matt H

Don't partner with anyone. That's asking for a headache. Worst case senario find investors who would simply be lending you money if you need it. Best case senario, use what you got to buy what you can. You should easily be able to buy multi family with 10% down. That's the way I usually do it. Besides you always here about one partner ending up dead for some unknown reason. Think about it, if you get a partner you're gonna get wacked!

You can't get to where I am with a lotto mentality, so ya I know what you mean, and ya I save every month and I invest. There are a lot of people in life who make big money but never reward themselves. I think that everytime you make some money or finalize a deal you should take 5% or 10% and reward yourself. Make it your duty to spend that money on yourself and those you love so you remember how good it feels to make it and what it can do for you. Infact this just amazes me. Because life's so short. So never hoard you money. While your here for a brief time try to at least enjoy some of it. So if you do a deal, you go march right on down to that Porsche dealership and you pay cash for a new car, or whatever it is that has your fancy. And if that tax man comes knocking he'd better beware because right behind the door I'll be waiting with a fully loaded double barrel sawed of shot gun aiming his way ;-)

well that sounds like a shifty shifty to fifty fifty to me

Something very interesting happened to me just recently. I bought a small apartment building this time last year. Kept it for just one year. Now I just sold it yesterday and made a 900% profit. Basically I turned $100k into $900k net/net spendable cash.

This was such a monumental gain that I had to sit down and analyzed exactly the circumstances surrounding it.

So here's how I did it.... (and how anyone can do this.)

STEP 1)

You look up to find where realestate is appreciating at the very highest rate. Perhaps you could find some kind of demographic map on the internet showing where. I lucked out because here in Alberta we just had that kind of spike happen in the market. Chances are that market might be a state or city outside of your area. Regardless that's where you have to buy. Besides it's not hard at all to buy in another area. It's no different than buying local other than you might need a property management company in the short term.

STEP 2)

You're goal now is to find properties that you could buy with little to no money down. Many lenders will lend 100% on property these days. Or if they'll only do say up to 90% then you just get the seller to carry a 10% second. The bottom line is you try to buy any property with little to no money down. And the bigger or more expensive the property the better.

STEP 3)

The kind of property you're looking for is one that makes for a good rental property. So ideally something that is or could be divided up into as many units as possible. So for example an old house that you could rent the main floor and create a separate entry into the basement to create one or more suites downstairs. Or best case scenario, try and find a small or even mid sized apartment building to buy, 6, 12, 20 or more units. The more the better.

STEP 4)

You make lots and lots of offers in that area. You pay list price but try to get it for very little down or no money down if possible. Then you get the renters in there and you sit on it for at least a year, possibly longer if you're cash flow is strong enough to support it.

STEP 5)

Keep tabs on the prices of homes and the demand in that area. You want to keep a pulse on the market. What's the vacancy rate like? Is the market almost peaked out and leveling off, or does the growth appear to remain strong. Then in about a year here's what could happen.

If you bought a home for say $200,000 and you only put down $10,000 to buy it, then if the value goes up to say $300,000 you've made ten times your money in just one year. That might not sound realistic, but the fact is that realestate went up in Alberta by 52% in 2006. I bought my apartment building for $725 and just sold it for $1.625. The mortgage is only $600k so my $100k has now magically overnight turned into a million bucks net net.

So if you want to powerfully leverage your money that's one strategy for you. Good luck.

Something very interesting happened to me just recently. I bought a small apartment building this time last year. Kept it for just one year. Now I just sold it yesterday and made a 900% profit. Basically I turned $100k into $900k net/net spendable cash.

This was such a monumental gain that I had to sit down and analyzed exactly the circumstances surrounding it.

So here's how I did it.... (and how anyone can do this.)

STEP 1)

You look up to find where realestate is appreciating at the very highest rate. Perhaps you could find some kind of demographic map on the internet showing where. I lucked out because here in Alberta we just had that kind of spike happen in the market. Chances are that market might be a state or city outside of your area. Regardless that's where you have to buy. Besides it's not hard at all to buy in another area. It's no different than buying local other than you might need a property management company in the short term.

STEP 2)

You're goal now is to find properties that you could buy with little to no money down. Many lenders will lend 100% on property these days. Or if they'll only do say up to 90% then you just get the seller to carry a 10% second. The bottom line is you try to buy any property with little to no money down. And the bigger or more expensive the property the better.

STEP 3)

The kind of property you're looking for is one that makes for a good rental property. So ideally something that is or could be divided up into as many units as possible. So for example an old house that you could rent the main floor and create a separate entry into the basement to create one or more suites downstairs. Or best case scenario, try and find a small or even mid sized apartment building to buy, 6, 12, 20 or more units. The more the better.

STEP 4)

You make lots and lots of offers in that area. You pay list price but try to get it for very little down or no money down if possible. Then you get the renters in there and you sit on it for at least a year, possibly longer if you're cash flow is strong enough to support it.

STEP 5)

Keep tabs on the prices of homes and the demand in that area. You want to keep a pulse on the market. What's the vacancy rate like? Is the market almost peaked out and leveling off, or does the growth appear to remain strong. Then in about a year here's what could happen.

If you bought a home for say $200,000 and you only put down $10,000 to buy it, then if the value goes up to say $300,000 you've made ten times your money in just one year. That might not sound realistic, but the fact is that realestate went up in Alberta by 52% in 2006. I bought my apartment building for $725 and just sold it for $1.625. The mortgage is only $600k so my $100k has now magically overnight turned into a million bucks net net.

So if you want to powerfully leverage your money that's one strategy for you. Good luck.

....and on that note....I'm going shopping for a brand new Porsche baby!!!!

you just don't know where to shop

Also when he says "crack house"...I think he means they were just junkies living there doing it, not meaning buy former meth labs. If you buy a meth lab you won't be able to legally rent it out unless it can actually pass a clean health inspection.

so that means you'd take full advantage of her young sweet tail would you. :shock:

http://forums.biggerpockets.com/viewtopic.php?p=25455#25455

Like you wanna read a post about "Rich Dad Poor Dad"

Read this post. Take a look at this total retard named John Reed. Talk about one jaded son of a *****!

Man that is a long article he wrote....

But you know what....There's always some jealous son of a ***** out there like Reed. Robert turns his series into a best seller worth over $20m and this guy Reed? Well who's Reed...basically just another low life jealous wannbe author who never actually made it.

I agree that the original book "Rich Dad Poor Dad" did not teach a whole lot. It was more of just an very interesting story and a very clever book. But if you read some of his other following books like "Cash flow quadrant" and "Retire young, retire rich" you can clearly tell that the guy is brilliant. He basically rivals the genius of Davinci, Newton, Einstein and the like.

Like what would we do without the Cash Flow Quadrant? That is one of the most brilliant sociodemographic models ever developed in human history! I'm amazed they don't drill this into you in high school or even college.

Besides I find it amazing that this this loser Reed would actually take the time to write such a long article bashing someone else's succeed. Like talk about having a chip on their shoulder. Talk about one jaded, demented, negative, pessimist, who basically has no life, other than to hide behind his computer screen and bash someone else who's actually made it in life. That's not how you become successful.

And to think this guy Reed actually thinks of himself as some kind of author who's gonna teach me real estate investing? .....ok ok...get this "CHAPTER 1: how to bash a home owner, and run down their property 101." - "Hi I'm John Reed wannbe author and self proclaimed low life. Now as you can see by the way I bashed Kiosoki, I'm an expert at putting people down, especially those I'm jealous of who've actually made it in life...so here's how you put down the seller of the home and try to make him or her feel worthless... (can you image there's actually people like Reed out there in life. That's scary if you ask me)

Actually I use to know a bully when I was a kid. He's always try to put down everyone else to somehow try and raise himself up. As far as I can tell Reed displays this kind of extremely low self esteem in this article. But what's worse is that this guy Reed is actually suppose to be some kind of teacher? What does he teach...."how to bash others to try and make them less so that you can become more?" is that his philosophy of life?

Like Robert talks about the struggles he had early on in life. I can relate to that totally. And anyone who's had success I'm sure could also atest to those kinds of struggles on the journey to success.

Why doesn't this guy Reed spend more time on his own business and embrace others who are leading his field. It's clear to me that this guy Reed, is a totally slim ball, and so unprofessional that it's no wonder he's a nobody in life. Like could imagine knowing a person like this Reed in any capacity? Like I don't know about you but I want to stay far far away from people who are that negative and critical about others.

Like this Reed guy is just totally nuts. Like I spit on the parents who neglected him as a child that's for sure! Cuz Reed's hurtin hardcore. Besides, what a poor excuse for a doorway page to try and generate free traffic by bashing someone. How pathetic.