Join John Adams, world renowned Intl Matchmaker, Thurs nights 8:30 EST for Live Webcasts with FREE Prizes!
And check out Five Reasons why you should attend a FREE Live AFA Seminar! See locations and details.


Scam free! Check out Christian Filipina - Meet Asian women with Christian values! Members screened.
Exclusive book offer! 75% off! How to Meet, Date and Marry Your Filipina Wife



View Active Topics       Latest 100 Topics       View Your Posts       FAQ Topics       Switch to Mobile


Tsar's Plan: Anyone Else Interested in Making $$$$$

Discuss and talk about any general topic.

Moderators: jamesbond, fschmidt

Re: Tsar's Plan: Anyone Else Interested in Making $$$$$

Postby Moretorque » Mon May 02, 2016 11:50 pm

HouseMD wrote:I'm 3,000% not at all interested. Lol, 25-50k. I can make that in one year off of a rental property without any shady BS.


House there is a big economic reset coming and you are not going to believe the price of Silver coming up as well as Gold.....
Time to Hide!
Moretorque
Elite Upper Class Poster
 
Posts: 4162
Joined: Sun Apr 28, 2013 2:00 pm
Location: USA,FL







Re: Tsar's Plan: Anyone Else Interested in Making $$$$$

Postby Tsar » Mon May 02, 2016 11:56 pm

HouseMD wrote:I'm 3,000% not at all interested. Lol, 25-50k. I can make that in one year off of a rental property without any shady BS.


I doubt you have any rental properties or even own your own home. I'm guessing you are in med school or in a residency program at some hospital, maybe both. Probably have $100,000-$250,000 in student loan debt from your expensive education which probably was 8 years including bachelors, masters degree, and med school. Tell me if I am wrong and share how well your doing? Otherwise that is just fluff BS.
Tsar
Experienced Poster
 
Posts: 1833
Joined: Tue Aug 07, 2012 7:40 pm

Re: Tsar's Plan: Anyone Else Interested in Making $$$$$

Postby HouseMD » Tue May 03, 2016 12:42 am

Tsar wrote:
HouseMD wrote:I'm 3,000% not at all interested. Lol, 25-50k. I can make that in one year off of a rental property without any shady BS.


I doubt you have any rental properties or even own your own home. I'm guessing you are in med school or in a residency program at some hospital, maybe both. Probably have $100,000-$250,000 in student loan debt from your expensive education which probably was 8 years including bachelors, masters degree, and med school. Tell me if I am wrong and share how well your doing? Otherwise that is just fluff BS.

I have substantial investment capital that I saved before starting school. It is currently awaiting reinvestment, and I'm debating buying a two family home for when I start residency so I can rent the other half. While I technically don't need to put a down payment on the table (residents can get zero money down "doctor loans") I would prefer to use my cash as a down payment for a regular home loan to save me a point and a half of interest (doctor loans have painfully high rates). Yes, I have a lot of debt, but I also have a good amount of cash to play with.
User avatar
HouseMD
Experienced Poster
 
Posts: 1198
Joined: Tue Feb 14, 2012 2:20 am
Location: Buried Under a Pile of Books

Re: Tsar's Plan: Anyone Else Interested in Making $$$$$

Postby Tsar » Tue May 03, 2016 1:22 am

HouseMD wrote:
Tsar wrote:
HouseMD wrote:I'm 3,000% not at all interested. Lol, 25-50k. I can make that in one year off of a rental property without any shady BS.


I doubt you have any rental properties or even own your own home. I'm guessing you are in med school or in a residency program at some hospital, maybe both. Probably have $100,000-$250,000 in student loan debt from your expensive education which probably was 8 years including bachelors, masters degree, and med school. Tell me if I am wrong and share how well your doing? Otherwise that is just fluff BS.

I have substantial investment capital that I saved before starting school. It is currently awaiting reinvestment, and I'm debating buying a two family home for when I start residency so I can rent the other half. While I technically don't need to put a down payment on the table (residents can get zero money down "doctor loans") I would prefer to use my cash as a down payment for a regular home loan to save me a point and a half of interest (doctor loans have painfully high rates). Yes, I have a lot of debt, but I also have a good amount of cash to play with.


If you can make $25,000-$50,000 off of a rental property then it must be in New York City or Boston or Los Angeles (or some other Californian city).

I see tax returns all the time in what I do for work and know the general market prices of homes, and general ranges of rent for major cities in one-third of the states on mainland so I know a lot of people earn rental income. The only times I saw rental income that high was for commercial property in Boston or New York, or the rare residential rental property in Massachusetts or New York. Most people earned $800-$1,200 per month on a rental (and those people had no mortgage or a low mortgage payment, lower property tax states, and after insurance was taken out of the gross rental income).

Unless you can rent out the half of the 2 family to more than one person to collect double the rent.
Tsar
Experienced Poster
 
Posts: 1833
Joined: Tue Aug 07, 2012 7:40 pm

Re: Tsar's Plan: Anyone Else Interested in Making $$$$$

Postby HouseMD » Tue May 03, 2016 1:27 am

Tsar wrote:
HouseMD wrote:
Tsar wrote:
HouseMD wrote:I'm 3,000% not at all interested. Lol, 25-50k. I can make that in one year off of a rental property without any shady BS.


I doubt you have any rental properties or even own your own home. I'm guessing you are in med school or in a residency program at some hospital, maybe both. Probably have $100,000-$250,000 in student loan debt from your expensive education which probably was 8 years including bachelors, masters degree, and med school. Tell me if I am wrong and share how well your doing? Otherwise that is just fluff BS.

I have substantial investment capital that I saved before starting school. It is currently awaiting reinvestment, and I'm debating buying a two family home for when I start residency so I can rent the other half. While I technically don't need to put a down payment on the table (residents can get zero money down "doctor loans") I would prefer to use my cash as a down payment for a regular home loan to save me a point and a half of interest (doctor loans have painfully high rates). Yes, I have a lot of debt, but I also have a good amount of cash to play with.


If you can make $25,000-$50,000 off of a rental property then it must be in New York City or Boston or Los Angeles (or some other Californian city).

I see tax returns all the time in what I do for work and know the general market prices of homes, and general ranges of rent for major cities in one-third of the states on mainland so I know a lot of people earn rental income. The only times I saw rental income that high was for commercial property in Boston or New York, or the rare residential rental property in Massachusetts or New York. Most people earned $800-$1,200 per month on a rental (and those people had no mortgage or a low mortgage payment, lower property tax states, and after insurance was taken out of the gross rental income).

Unless you can rent out the half of the 2 family to more than one person to collect double the rent.

I'm in the NE. A property can net me $800 for a single bedroom, $1,200 for a two bedroom. Was just looking at a 3 unit, 5 br 3 bath for 240k that would be perfect. My gf and myself could live in the single bedroom unit and I could rent out the two 2br/1ba units for $1,200/mo to net me $28,800/year. It's a great starter property.
User avatar
HouseMD
Experienced Poster
 
Posts: 1198
Joined: Tue Feb 14, 2012 2:20 am
Location: Buried Under a Pile of Books

Re: Tsar's Plan: Anyone Else Interested in Making $$$$$

Postby Tsar » Tue May 03, 2016 2:09 am

I have been wondering if I should take out the unsecured loans to be able to pay for a house in cash giving me an advantage compared to other buyers. Then refinance with a mortgage, paying off the unsecured loans, and try to get a roommate that would do the same thing. I have been thinking about that ever since I started seeing rental income.

Pittsburgh, Philadelphia and Columbus, Ohio have the highest concentration of $60,000 (plus or minus $5,000) of move-in ready starter homes with everything looking nice. The one time I saw a $60,000 move-in-ready home in my f***ing lousy expensive state it was already in the process of being snatched up by someone because apparently in this region anything that price that is move-in-ready is impossible to get. Since the financial crisis, cash buyers have had the advantage. So should I take the risk of unsecured loans and get myself my own home instead of just taking them to let the credit score implode? But the risk of credit implosion does increase, anyway, even if I had every intention of paying them back which I would if I only got enough for the house.
Tsar
Experienced Poster
 
Posts: 1833
Joined: Tue Aug 07, 2012 7:40 pm

Previous

Return to General Discussions

Who is online

Users browsing this forum: Google Adsense [Bot] and 2 guests