Author Topic: Suga Foot's Giude On How to get rich....  (Read 214 times)

Suga Foot

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Suga Foot's Giude On How to get rich....
« on: December 16, 2002, 11:58:13 PM »
Well I plan on being quite wealthy.  My parents came from nothing, and we are now considered an upper middle class family, well my brother and I plan to take it to the next step.  My dad owns two businesses.  That will take care of him for a while, lol.  My brother and I work at one of the businesses.  I belive that a working is no way to make money.  You only get half of what you earn, so why try to get rich from working right?  Another thing is that it takes money to make money.  So workin will help to start me off.  So anyway, the way I plan to get rich is by buying and selling real estate.  In a year or two, my brother and I will buy a house together, we'll fix it up and sell it a profit.  Sounds too easy?  Well it is just that easy.  We'll just keep buying and selling houses, until we can afford to buy a commercial or industrail biulding.  Then when we buy a commercial or industrail building, we'll let the rent take care of the mortgage payments, plus make us a lil bit of money.  Any questions?  
 

budsmokeronly

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Re:Suga Foot's Giude On How to get rich....
« Reply #1 on: December 17, 2002, 12:07:56 AM »
hell yeah that is an excellent method to make money.  Oh man if I had a lot of money to invest I would definately invest it in property in california.  Once you get into commercial buildings you start making so much money.  I really want to do it.  I need to save up some money though.
 

Suga Foot

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Re:Suga Foot's Giude On How to get rich....
« Reply #2 on: December 17, 2002, 12:09:32 AM »
A lot of people want to do it, but i think you have to be really dedicated in order to make it work for yourself.  It's a lot of hard work.
 

Instant_Killa

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Re:Suga Foot's Giude On How to get rich....
« Reply #3 on: December 17, 2002, 12:17:36 AM »
excellent idea, i plan to do this shit too
 

Don Seer

Re:Suga Foot's Giude On How to get rich....
« Reply #4 on: December 17, 2002, 03:22:58 AM »
I saw a prog on TV about this the other day.

These two women re-mortgaged their own homes and in their spare time fixed up a house they bought. problem was instead of properly fixing the house (like tarting up the basement instead of fixing the damp problem) they spent  sorry wasted a whole grip of money on stupid things. outta a budget of 5K for fixing it up they spent about 12k on s. All this because they wanted the house to look good.  They also didn't get a survey in the first place so didn't know about the damp until too late.
They ended up losing 6k just because of that expenditure on stuff decorating.. the guy that bought it said the house was too fancy and would redecorate right away. it was overly girly coz these women were window dressers.

Its a good idea tho. ya right, ya gotta be a boss to make money in this world. but cha gotta be careful coz if u buy a lemon ur screwed over for a lot of money in repairs.
 

heyyou

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Re:Suga Foot's Giude On How to get rich....
« Reply #5 on: December 17, 2002, 11:17:27 AM »
^^
LOL, I also watiched that same programme, on channel 4 right? I thought that i was the only person who watches those type of programmes. I like to do DIY, or just fixing things, take something and make it look incredible.

Anyway, I can't comment on the american housing market, but it's a lot difficult to do than it seems. You need a good knowledge of the structure of buildings, good imagination, ability to find potential, know the aea and it's future prospects etc. Also yesterday, in the uk it's reported that the housing market bubble may about to burst, leaving many people who have bought extremely over-priced homes, which are gonna be worth a lot less. Good luck anyway.
 

Don Seer

Re:Suga Foot's Giude On How to get rich....
« Reply #6 on: December 17, 2002, 11:42:56 AM »
hope the house market does bomb. i might be able to afford one then.
 

Trauma-san

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Re:Suga Foot's Giude On How to get rich....
« Reply #7 on: December 17, 2002, 12:11:33 PM »
In Charlotte, Real Estate is on fire. My house that we bought 9 years ago, has appreciated about 40 percent or so in that time, I think that's pretty good.  
 

King Tech Quadafi

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Re:Suga Foot's Giude On How to get rich....
« Reply #8 on: December 17, 2002, 12:26:22 PM »
houses have been hella expensive the last 3 years or so in toronto

most people moving to the burbs
"One day Alice came to a fork in the road and saw a Cheshire cat in a tree. "Which road do I take?" she asked. "Where do you want to go?" was his response. "I don't know," Alice answered. "Then," said the cat, "it doesn't matter."

- Lewis Carroll
 

ITW [the irish boy]

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Re:Suga Foot's Giude On How to get rich....
« Reply #9 on: December 17, 2002, 12:44:04 PM »
Thats the attitude santa foot, i have similar plans.

You have to be very careful with real estate though. While it is a "safe" industry, you have to be careful of uninsurable risks or unfortold problems, like the house not having the drainage u thought it had or something. the main reason dont do it is b/cause of the mortgage, which leads to problems if they lose their job or anything.

If you want a tip....buy property in poland or other assesion countries to the EU....they'll be going up at least 200%%

My house has gone up from the equiv of 200 000$ to 500 000$ in ten years....thats what ur talking about
SO MANY PEOPLE THINK THEY KNOW
BUT DO THEY KNOW TO THINK
THINK ABOUT THINKING
BEFORE THEY KNOW NOTHING
DID THEY KNOW SOMETHING
LETS THINK
 

Suga Foot

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Re:Suga Foot's Giude On How to get rich....
« Reply #10 on: December 17, 2002, 01:16:48 PM »
The House we live in now we got for $340 000.00, it's now one year later, we've done nothing to it, and we could now sell it for $420 000.00.  When you buy and sell houses, a lot of the times the house is worth nothing.  It's the area it's in that matters.
 

Now_Im_Not_Banned

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Re:Suga Foot's Giude On How to get rich....
« Reply #11 on: December 17, 2002, 09:40:33 PM »
Yea...Houses are going up...My mom works in real estate...


We got our house at the price of $425,000 4 years ago and now it's worth like $800,000...Weird huh?...


Well Suga Foot...All I can say is, sounds like u have a plan...Good luck...PeACe
 

Quakaveli

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Re:Suga Foot's Giude On How to get rich....
« Reply #12 on: December 18, 2002, 11:17:25 PM »
Ya Suga thanks for givin me dis idea..
In da future when im richer Ima invest money in real estate too...not only da US theres a shitload of places in da world thats hot.