Greetings from Maryland. Thanks to a part-time internet business I have about $100K/mo I’d like to invest in real estate. I know that the current economic downturn presents huge opportunities to acquire property and make money in real estate for the long term, and I’d like to take full advantage. Any suggestions? Thanks.
Very clever the way you spammed us with your get rich quick internet business.
Get rich quick??? COUNT ME IN!!! YEE HAW!!!
You can get rich quick right Mike? :rolleyes
Yes We Can! Si Se Puede! Put it all on a lottery ticket and you can get rich RIGHT NOW! Can you get rich quick with an internet business working part time or working part time in the real estate business? NO!
Well I started marketing online in 2000 so it wasn’t exactly quick, but I do want to invest my profits for the long term.
NO WAY!!! 100,000k a month?? This is my big break, I can tell. How much do I gotta pay, and tell me where to send the funds!
Retiredat35 must be great in the internet business, but bad at math. $5,994.42 per day is actually $179,832.60 per month (even for a 30 day month) - not $100,000 per month. So, forget the real estate and get rich quick with the internet. Some of the infomercials say that you make money while you sleep - the computer does everything. Of course, it is a hardship to count all that money (especially if you’re bad at math), but you can hire someone to do that so you don’t lose time sitting on your yacht!
$100K/mo TO INVEST. I can’t put all my revenue into real estate; I do have other expenses and obligations. Even I’m not that bad at math. I’m sorry my internet business and desire to invest in real estate offends you so, but that’s how I and a lot of my friends make a living.
retiredat35 - I don’t think the problem is how much you make or don’t make. You are missing the point. What upsets some people is when they see people misrepresenting themselves and trying to take advantage of other people. Any one here knows that you are not interested in investing in real estate. Your intent is to market your internet business… You think you came up with a clever way of doing it… However, it doesn’t seem that it will work… Not this time…
But don’t get discouraged… Stick around… You may learn a thing or two about real estate… :O)
$100,000k per month? For the past 8 years (since 2000)? That’s $9,600,000 :shocked Taking taxes of probably close to 50% - or, having enough deductions to pay $0 taxes - still, that means you spent at least 50% to compensate for those taxes. Now we’re down to $4,800,000. Still not bad. Taking a safe estimate of living expenses of another 50% - $2,100,000. Still good. So what to use that for? Dude! You just became my private funder for my next real-estate deal(s)! You’re gonna have to beat (not just match) my current private lender. He charges 2 points and 18% per month. To prove that you’re really up to what you say, you’ll have to give me 1.5 points and 16%. If things go well, we can renegotiate on future deals. If not, I suppose you could always put that all in an almost 6% CD. Actually, $2,100,000 at 6% per year is still $72,000. Who can complain!
If you’re not really ready to step up to the plate, I suppose I could use you for an investment loan. You’ll have to beat the bank, though. They are currently charging 7% / month interest and about 3% closing costs. If all you’re gonna be is a investment loan provider, then I’m going to want 6% / month and 2% closing costs. Same with this, if things go well, we can renegotiate future deals. Otherwise, I’ll just head to my local bank. I suppose you can always put all that non-performing cash in an almost 6% CD.
So, how does all that sound? Are you truly ready to invest? Or are you still just generating income? Don’t take too long to decide. I got two, maybe three deals that will need to fund in the next few months. My last deal, I had 4 private lenders that started to auction-style outbid each other when I let them know how much interest there was. However, if we can agree on a deal before hand, I’ll stick with you - at least on this first mutual deal. Let me know where you live, and I’ll look for some deals specifically in your area so you can do some first hand due-diligence. Send me a private message, or my email is in my profile.