motor

nthfinity · 07-27-2006, 09:06 AM

Originally Posted by ARMAN

hmmm... real estate business you say?..... hmmmm...

property is a definately one way to do it. the 10 figure guy i know basically owns the property, and develops it in very urban areas.(i think he owns 15-20 square blocks of real estate in suburban Detroit of prime comercial businesses. He also gives a LOT to the city of Detroit... and has a 993 GT2, and more 356's then you can shake a stick at

ARMAN · 07-27-2006, 02:58 PM

^^ :shock: would be interestinf to know where he started at

nthfinity · 07-27-2006, 03:26 PM

Originally Posted by ARMAN

^^ :shock: would be interestinf to know where he started at

second generation owner, but he seriously took it to a level that his folks didn't even think possible.

the other Real estate developer i know started from scratch... i honestly dont know how much he is worth... but concidering the cars, i'd guess 9 figures.

he started with back breaking labor, and eventually ran his own construction company that just grew and grew... and so on...

the guy i know who are first gen hundred millionaires built from scratch. the title company owner (well, former owner) started at 23 years old not knowing a thing about title insurance; and he grew into the country's largest independantly owned title company before selling it in its peak year ever..... he had 2500 employees or so... he started the company amid people telling him it was bad timing, he'll fail, who would want title insurance, bla bla bla.... guess he showed them, eh?

each of them, you woulsn't know thier "value" when you bump into them on the street.... they are basically every other blue collar type guy out there that love the EXACT same things we do.... just can afford them

ARMAN · 07-27-2006, 03:34 PM

thanx for info Nth

One day... one day... 8)

saadie · 07-27-2006, 03:46 PM

property dealing is pretty nice ...

at first you are like a dealer .. find a person who is selling and find a person who wants to buy .. if the deal is done you get like 1-2%
do about a 100 deals to get experience and some money to buy your own property .. then wait for the prices torise then sell it for someprofit .... then reinvest ...

..... sounds ugly ... but it works ...

ARMAN · 07-27-2006, 03:52 PM

I'd prefer owning rental houses than just speculate on the market.. first goal is to get some cash to buy the first flat

nthfinity · 07-27-2006, 04:34 PM

Originally Posted by ARMAN

I'd prefer owning rental houses than just speculate on the market.. first goal is to get some cash to buy the first flat

on rental houses... keep in mind several things

1. you have a mortgage on the homes, and have to pay that

2. you have wear and tear on the homes that you have to maintain, and pay for out of pocket (eg. a water heater goes bust, the roof needs replacement, you have bug infestation etc.)

3. the law protects people in a house more then the landlord, and who knows if they are gonig to trash the place... specifically if they are being evicted... a pricy fix if

4. the court costs of doing anything to get payment for the renter

5. the renter doesnt pay, how do you pay the mortgage

my recomendation?

buy homes, fix them up, tehn put them back on the market with more value.... do as much of your own work as you can at first.... as you have more money... use the kids from the local (whatever... church for example) and pay them 10$ equivilant an hour to paint the walls, or install an oven, or wood floor etc.

that IMO is much safer, both for your credit, and for your pocket earnings

oh, and dont be the realator yourself, hire somebody else to sell your homes

there is much more profit involved

sameerrao · 07-27-2006, 04:48 PM

Originally Posted by ARMAN

I'd prefer owning rental houses than just speculate on the market.. first goal is to get some cash to buy the first flat

Well if you are renting houses then make sure there are some pretty women in the house ... that way when the rent check collection time comes then you can always go for cash or kind

nthfinity · 07-27-2006, 05:03 PM

The ratio here is 7.5 doctors per person to the population.

so each person has 7-8 doctors?

and each doctor has 7-8 doctors?

do you mean 1 doctor per 7-8 people?

TeflonTron · 08-14-2006, 05:48 PM

^ No Mortgages? Explain, please.

nthfinity · 08-14-2006, 06:04 PM

Originally Posted by TeflonTron

^ No Mortgages? Explain, please.

if i were to guess, the homes are already owned outright; and possibly able to buy new homes with cash?

local laws can be a big influencing factor, for sure.

also, apartments have a tendancy to be quite a bit different then rental homes here; where damage is paid for by the tennent.

but still, appliances are covered by the management company etc.

sameerrao · 08-14-2006, 06:16 PM

Ferrari owners come in few varieties ...

A) The lucky sperm club owners - basically their parents made the money and left a sizeable trust fund to fund a couple Ferraris

B) The dotcommers - made their money riding the boom phase of the dotcom and cashed out on the IPO. The sports and film personalities feature here - buy expensive cars in their 20s

C) Self employed consultants or small business owners - guys have toiled years to build their business into a sizeable business and are buying Ferraris when they are in their 40s. Most Ferrari owners would be from this group. There is a common misconception that these businesses need to be something really exotic and stuff. But a lot of them produce things like $2 PVC pipes, nuts and bolts - basically mundane stuff

D) CEOs of companies - like the guys above, these guys have taken years to reach the top and are enjoying the fruits now.

nthfinity · 08-14-2006, 06:44 PM

hmm.... sounds like north of chicago to me

and hows this on for size; 8 persons per doctor.... in a small town of say 8 persons, is it logical to think the doctor lives among them? is he allowed to consumate, and later marry a patient?

TeflonTron · 08-14-2006, 06:49 PM

Originally Posted by nthfinity

Originally Posted by TeflonTron

^ No Mortgages? Explain, please.

if i were to guess, the homes are already owned outright; and possibly able to buy new homes with cash?

local laws can be a big influencing factor, for sure.

also, apartments have a tendancy to be quite a bit different then rental homes here; where damage is paid for by the tennent.

but still, appliances are covered by the management company etc.

Yeah, I wasn't sure whether he was refering to his personal situation, or that in Spain in general.

Renting property can be a BIG money-earner, but you have to be aware of all that can and will happen, and realise that it's something that's a longterm plan, not just a "I'll buy some houses and get rich in a year" thing, as it isn't.

T-Bird · 08-14-2006, 09:29 PM

Originally Posted by nthfinity

hmm.... sounds like north of chicago to me

and hows this on for size; 8 persons per doctor.... in a small town of say 8 persons, is it logical to think the doctor lives among them? is he allowed to consumate, and later marry a patient?

yeah that's definitely how it is on the "North Shore"as they call it on average it's doctor, doctor, lawyer, dentist, doctor, lawyer, athlete, doctor, lawyer, lawyer, athlete, old money, athlete, brach's family, oprah, doctor, lawyer, oprah, etc...