How are the ways that you were able to accumulate a buyers list. And what is the most effective methods.
Is this correct, 200k this month moonstruck? Where did you get deals with those kind of margins?? I assume you had one or two huge deals-care to share how those deals went down?
JasonAl and Gregg975,
I’ve got a bridge for sale.
Mike
Good morning Guys,
Last year I did pick up a house sub2 in a golf course community for 410k.
Sold it right away for 595k. Seems like at least once a year I hit a home run.
Keep looking ,calling net working. Congratulations To moonstruck !
And it was right next to Mikes bridge !!
Darin
:biggrin
Mike, Im just pressing her for more details…stranger things have happened than somebody making 200k in a month. Lets hear the details before we call her a sham.
propertymanager,
Thanks for the offer.
I’ll put it in the file along with what the “princess” has been feeding us.
…to go from newb in February (documented here on this very
forum) to claiming $200k/month…
I’ll be reviewing your offer whenever I can get an honest
answer from this other one.
Thanks again!
…and the I run across this post:
http://www.reiclub.com/forums/index.php/topic,27516.0.html
How in the world can you be sooooo successful and not know
the basics?!
First time sports fisherman…seems like every time I hand them the pole…wham, they catch the biggest or only fish for the day.
Just maybe in real astate…
“Fishing is a delusion entirely surrounded by liars in old clothes.”
:rolleyes
Guess I’ve just been smokin’ salmon. :eyecrazy
Does anybody out there REALLY net over $200,000 per year investing in real estate?
Deal, have you been paying attention? Did you read any of the posts on this thread?
It doesn’t matter what anyone else is doing, only rather if YOU can do it.
Investing is a business. Just because someone else is, or isn’t, making X amount per year (or month or day) doesn’t mean that you can or can’t.
Besides that fact, no one here that DOES make $200K or more a year is likely going to promote it on an open forum. And if they do, most don’t believe them anyway, so what’s the point.
But, if numbers you want, then numbers you’ll get. At my last ‘real’ job, I made a whopping $23K a year. I make more than that now just off of my passive RE investing. So, if I do absolutely nothing, I’ll make more than I did working 40-50/hrs a week. Pretty cool to me.
When I buy property to retail, my average net on a deal is $20K (Generally, $100K or so retail prices). If your market is similar to mine, you’ll need to do an average of 10 props a year (if you can do it like me).
When I wholesale, my average take is $5K. So if you’re wholesaling, that’s 40 props a year. I know a local wholesaler here that sales 10-15/month (of course, it’s not just a one man show anymore either).
Raj
Roger. Thanks for your response. Of course I’ve been paying attention. Actually the question I have posed is a question that gets a lot of interest from the people on this forum. Take a look at how many people have read the question. Don’t read more into the question than there is. It’s just a simple question. Nothing more nothing less. :beer
Sure it gets alot of interest. Heck, everyone would love to know just how much $$$ Mr. Trump pulls in everyday (a business still built primarily around real estate I might add). I doubt though, that you’ll ever get it from him.
The purpose of the question is valid (assuming that it is the purpose) which is basically “what is the pay for this job?” However, it’s a flawed question.
As I stated in my first posts, with any self-run business, the amount of money that you CAN make and the amount of money that you DO make is greatly dependent on what YOU are willing to put into the it. You CAN make $200K/year selling lemonade (or is it kool-aid?), BUT you have to a) have a solid business plan and b) a commitment to see it thru.
Now, making $200K in RE would be a whole lot easier than making it selling drinks on the corner. Depending on the market, it’s very possible to make $200K off of ONE deal.
Raj
Once again thank you for your response Roger. When you state that the question is flawed you must assume that the reason I ask the question is to determine how much money I can make in this business. Why not assume that I am asking the question for the reason I have stated which is:
“I’m just trying to get a feel for this business and what other full time investors are experiencing.”
The question is geared towards investors that net over $200,000 per year because I am most interested in the answers from full time investors and I doubt that a part time investor can net over $200,000 per year consistantly. I’m not asking anybody how much money they have made but rather what type of marketing they do, how many deals per year, and how long it took them to get to a certain level.
Read the question again and you will see that it does not ask how much money you make. :beer
Good afternoon Dealmkr,
It is fairly easy to make 200k a year. I am on the west coast and yes the merket tanked here also. I am ashamed to say I do not work as hard as I could and yes I am changing that this year. I am full time and take a lot of time off. I made about 460k last year. It depends on the projects you chose. I have only made 102k so far this year and still I could work smarter. With knowledge of the mechanics of this business one could truly make a lot of money w/no money. It is in the know how and motivation.
I never went to college, lost one friend because he thought it not right that “I” could make more than “He” with edumacation !
Millionare goes broke, how long before he makes it back…soon because he has the know how and desire.
What is your desire,How much education in this field have you ? there is real money out here, made 14k this week …less than 6 hrs spent on whole transaction. No brainer assignment. 2 years ago I would have missed it ,lack of knowledge. Set the network up like a web and start catching.
Learn how, Have fun, Darin
“I’m just trying to get a feel for this business and what other full time investors are experiencing.”
That’s still just, “how much money can I make in this business?” and the question is still flawed.
Any business is greatly determined by what you are willing to do to make it happen. That is true whether it’s run full time or part time.
Once again, how much, or little, someone is making in the business isn’t the determining factor of their success. Sure, it may be the determining factor of their drive, their dedication, but hardly their success.
I’ll pose this again. Who would you rather learn from, someone that makes $200K a year, but has to do 40-50 deals/year to get there, or someone who chooses to work “part-time” by doing only one-two deals per year each averaging 2 months total, BUT makes $50K a deal. Now, who is ‘more successful?’
Raj
Roger, what is your definition of a flawed question? Maybe you would make more sense if we understood your definition.
Deal, I’m not going to argue semantics with you. That’s not the point, and quite frankly if you haven’t understand what I’ve been saying, chances are you never will.
But, once again…
You initial question was basically, if you make over $200K year investing in RE how did you do it?
That’s a flawed question because a) how they done it isn’t as important as learning how YOU can do it, and b) just because they make $200K or more per year doesn’t mean that you WANT to follow their way of business.
You’re assuming (incorrectly, I might add) that if you want to make $200K + a year in REI then you only want to talk to people who already do that. I personally know dozen or so people that don’t make $200K a year in REI simply because they don’t want to, not because they can’t. They are either happy doing a couple three deals a year and making $50-100K in the process or they actually LIKE their real job and invest ‘on the side’ to further their retirment accounts, etc.
The point there is, don’t limit your learning experience based on what someone is, or isn’t, making. That’s flawed.
Finally, money questions like “how much do you make” are rarely appropriate in social settings. It is a personal matter, and most people don’t freely give their income levels to their closest friends, let alone over an open forum full of strangers. Since you responded thru this thread with another question of does anybody really make $200K/year in REI, it seems that you’re assuming that since nobody has responded with, “yeah, I make X dollars” that no one does. That is flawed.
However, in response to that last question, I could give you alot of names of people that make over $200K investing in REI, however, you wouldn’t know many of them. But, I’ll throw out a few that you may know.
Donald Trump, Larry Goins, Steve Cook, Robyn Thompson, Pete Youngs.
Raj