Dammit - I've got that itch again.
- Thread starter Puppeteer
- Start date
Junkies
Were all junkies.
Hooked on OPM.
It starts by wanting to place screws in the wall to hang up photos, a better colour of paint in the living room and to have a pet.
Its the soft, entrance level nartotic called a PPOR.
Some stay there and are happy being stOWNED by the bank mortgage.
Others want more. They go hard core and have to fix when ever possible on IP's. As soon as they purchace one their happy, for a short while, but as soon as they see another DEALer we hurry to find more OPM.
Unfortunately people who like OPM to much usually find themselves finding freedom with too much money and time on there hands.
May the Almighty help these people and keep them safe from changes to negitive gearing laws and depreciation schedule modification.
Have a happy passive income day.
Respect, Peace, Out.
OPM-addict
Were all junkies.
Hooked on OPM.
It starts by wanting to place screws in the wall to hang up photos, a better colour of paint in the living room and to have a pet.
Its the soft, entrance level nartotic called a PPOR.
Some stay there and are happy being stOWNED by the bank mortgage.
Others want more. They go hard core and have to fix when ever possible on IP's. As soon as they purchace one their happy, for a short while, but as soon as they see another DEALer we hurry to find more OPM.
Unfortunately people who like OPM to much usually find themselves finding freedom with too much money and time on there hands.
May the Almighty help these people and keep them safe from changes to negitive gearing laws and depreciation schedule modification.
Have a happy passive income day.
Respect, Peace, Out.
OPM-addict
Thanks all for your support in the IPA (IP's Anonymous) thread.
Looks like the only cure is for me to go out and get another fix. I just hope I can find some of that real good "CF+" grade gear.
Sbe, is doubling my dose "safe". What if I'm permanently riding high on the settlement rush? I might not even have enough time left to go to work
Looks like the only cure is for me to go out and get another fix. I just hope I can find some of that real good "CF+" grade gear.
Sbe, is doubling my dose "safe". What if I'm permanently riding high on the settlement rush? I might not even have enough time left to go to work
Hmm..safe.....??
Its my first shot at a double dose....(although closely spaced doses can provide suitable excitement also....)
I figure it's certainly only marginally worse than a single dose, but twice the results.....and hence high.
Just dont do it with a mixer of refinance. It's not recommended....it gives a conflicting high/low pattern......
WARNING: Your addiction can addict those around you.
Like no other drug, PI can be addictive to those loved ones around you....Your wife will begin to help locate, inspect and improve properties. Children will gain a curiosity about them too from an early age, and may even become attached to individual scores.....soon you can't even go on holidays without seeing if you can score locally.....
Now, where's the Surgeon General when you need him?
Cheerio!!!!
Simon.
Its my first shot at a double dose....(although closely spaced doses can provide suitable excitement also....)
I figure it's certainly only marginally worse than a single dose, but twice the results.....and hence high.
Just dont do it with a mixer of refinance. It's not recommended....it gives a conflicting high/low pattern......
WARNING: Your addiction can addict those around you.
Like no other drug, PI can be addictive to those loved ones around you....Your wife will begin to help locate, inspect and improve properties. Children will gain a curiosity about them too from an early age, and may even become attached to individual scores.....soon you can't even go on holidays without seeing if you can score locally.....
Now, where's the Surgeon General when you need him?
Cheerio!!!!
Simon.
what is a TLA ?
A potential cure might be to mentor someone...that just might be what the doctor ordered.
Simple reason: then you will stop focusing on ur addiction and focus on someone else's well-being- not to mention a great sense of contribution.
Btw. anyone want to mentor me? Want to learn more about sub-divisions and no-money down deals
Crespo
Simple reason: then you will stop focusing on ur addiction and focus on someone else's well-being- not to mention a great sense of contribution.
Btw. anyone want to mentor me? Want to learn more about sub-divisions and no-money down deals
Crespo
Hernan,
I'm kinda already mentoring 5 or 6 people (well at least tellin them what books to read, what sites to visit, and outlining finance options for them).
Take it from me - it only makes the cravings worse.
Them: "Hey - what about this nice little unit that I've found for $85K that's getting $160 per week rent?"
Me: "Um - yeah - that one looks pretty good."
Me thinking: "Dammit - what a good deal - wonder if there's any more for sale in that block?"
It's like having this little army of people bringing you news of treasures from all over the city. Soooooo many temptations...
Must.... Resist.....
BTW - Sub-divisions ain't my specialty. Maybe in a couple of years
No money down deals are real simple. Make sure you have plenty of equity in other investments.
<Rant> (not directed at anyone in particular - but because I'm getting sick of explaining it to people after 20 or 30 requests)
For all those 18 - 20 year olds who seem to be obsessed with "No Money Down" after reading Rich Dad, Poor Dad - GET A JOB! I don't know of anyone who has done a no money down deal as their first investment, and no I can't tell you how to do it if you don't have a job and have no equity.
Not saying it can't be done, but it will be easier to work and save a deposit (and cheaper if you put a price to your time) than spending the 3 or 4 years to find a deal and negotiate it as a no-money down deal.
</Rant>
I'm kinda already mentoring 5 or 6 people (well at least tellin them what books to read, what sites to visit, and outlining finance options for them).
Take it from me - it only makes the cravings worse.
Them: "Hey - what about this nice little unit that I've found for $85K that's getting $160 per week rent?"
Me: "Um - yeah - that one looks pretty good."
Me thinking: "Dammit - what a good deal - wonder if there's any more for sale in that block?"
It's like having this little army of people bringing you news of treasures from all over the city. Soooooo many temptations...
Must.... Resist.....
BTW - Sub-divisions ain't my specialty. Maybe in a couple of years
No money down deals are real simple. Make sure you have plenty of equity in other investments.
<Rant> (not directed at anyone in particular - but because I'm getting sick of explaining it to people after 20 or 30 requests)
For all those 18 - 20 year olds who seem to be obsessed with "No Money Down" after reading Rich Dad, Poor Dad - GET A JOB! I don't know of anyone who has done a no money down deal as their first investment, and no I can't tell you how to do it if you don't have a job and have no equity.
Not saying it can't be done, but it will be easier to work and save a deposit (and cheaper if you put a price to your time) than spending the 3 or 4 years to find a deal and negotiate it as a no-money down deal.
</Rant>
The Y generation
"Y should I learn a trade. I know how to use a computer. I have skills"
(Yes, you and about 1 billion other people on this planet)
"Y should I read a non-fiction book. They don't interest me and besides I read a lot in high school about maths"
(If RDPD is the only this they read they will be limiting themselves to the advice he gives..... some of it good ((love the e-game)), most of it questionable((without proof and numbered calcs. how can you tell)) and some just bad advice--------<end of rant>.)
There is many more but Im getting away from what Puppeteer was saying to the 18-20y.o. to GET A JOB.
Because the only advice I can give for a 18-20 y.o. person who is looking to find a real estate NO MONEY DOWN DEAL is:
1) Get a job
2) Watch T.V.
3) Wait for the ad for were they say " If you have a job and $100 you can move in you brand new home"
4) Take that deal.
Its the closest thing your going to get if you have only $100 in the equity.
Respect, Peace, Out.
OPM-addict
"Y should I learn a trade. I know how to use a computer. I have skills"
(Yes, you and about 1 billion other people on this planet)
"Y should I read a non-fiction book. They don't interest me and besides I read a lot in high school about maths"
(If RDPD is the only this they read they will be limiting themselves to the advice he gives..... some of it good ((love the e-game)), most of it questionable((without proof and numbered calcs. how can you tell)) and some just bad advice--------<end of rant>.)
There is many more but Im getting away from what Puppeteer was saying to the 18-20y.o. to GET A JOB.
Because the only advice I can give for a 18-20 y.o. person who is looking to find a real estate NO MONEY DOWN DEAL is:
1) Get a job
2) Watch T.V.
3) Wait for the ad for were they say " If you have a job and $100 you can move in you brand new home"
4) Take that deal.
Its the closest thing your going to get if you have only $100 in the equity.
Respect, Peace, Out.
OPM-addict
Perhaps i should rephrase my 'no money down' deals into creative financing deals e.g. options, flips etc.
For the record. i am 29 and i have over 10 properties in my portfolio. So i am not a lazy 18-20yr old looking for easy ways to make money.
However, i do think no-money down deals exist, in fact i nearly closed one just 3 months ago but pulled out as i realised the project was too big and risky.
By the way, i just got a book by Jack Cummings called "investing in RE with OPM" - shows lots of ways to get in with no money down deals.
Also I heard Robert Allan has a book on no money down deals as well.
Of course they all require a bloody good solicitor and a deep level of experience which one does not get whilst watching TV.
Crespo
For the record. i am 29 and i have over 10 properties in my portfolio. So i am not a lazy 18-20yr old looking for easy ways to make money.
However, i do think no-money down deals exist, in fact i nearly closed one just 3 months ago but pulled out as i realised the project was too big and risky.
By the way, i just got a book by Jack Cummings called "investing in RE with OPM" - shows lots of ways to get in with no money down deals.
Also I heard Robert Allan has a book on no money down deals as well.
Of course they all require a bloody good solicitor and a deep level of experience which one does not get whilst watching TV.
Crespo
