Author Topic: College is for suckers all the easy money is in Real Estate  (Read 415 times)

BigBDrugStores

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Re: College is for suckers all the easy money is in Real Estate
« Reply #25 on: March 19, 2005, 07:28:30 PM »
wiring up buildingsi make 55k/year plus 25% retirement
 

Matrix Heart

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Re: College is for suckers all the easy money is in Real Estate
« Reply #26 on: March 19, 2005, 07:32:00 PM »
wiring up buildingsi make 55k/year plus 25% retirement

That requires working :P and you have a boss  :monkey_piss:
 

BigBDrugStores

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Re: College is for suckers all the easy money is in Real Estate
« Reply #27 on: March 19, 2005, 08:36:49 PM »
selling houses dont give you free health ins. or retirement.
 

411

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Re: College is for suckers all the easy money is in Real Estate
« Reply #28 on: March 20, 2005, 12:23:29 AM »
college, high school, middle school, and elementary are for suckers.......the real money is in drugs
 

Sikotic™

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Re: College is for suckers all the easy money is in Real Estate
« Reply #29 on: March 20, 2005, 02:22:27 AM »
college, high school, middle school, and elementary are for suckers.......the real money is in drugs

or TV evangelist
 

BigBDrugStores

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Re: College is for suckers all the easy money is in Real Estate
« Reply #30 on: March 20, 2005, 11:34:14 AM »
i used to want to be a televanglist when i was young but i always hatted goin to church so i thought that would be a bad idea. but they do make money
 

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Re: College is for suckers all the easy money is in Real Estate
« Reply #31 on: March 20, 2005, 11:50:59 AM »
in exchange for their soul
 

Matrix Heart

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Re: College is for suckers all the easy money is in Real Estate
« Reply #32 on: March 20, 2005, 12:37:32 PM »
selling houses dont give you free health ins. or retirement.

Well I don't sell houses yet but I'm sure health care can be a tax write off.

12 Often overlooked tax deductions
http://www.bankrate.com/brm/news/biz/tax/20011022a.asp

SUV write off  ;D maybe I can get a hybrid SUV  :cow:
http://moneycentral.msn.com/content/Taxes/P48468.asp
 

chronic01

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Re: College is for suckers all the easy money is in Real Estate
« Reply #33 on: March 20, 2005, 12:42:59 PM »
thats my plan to get me through college
to do real estate, getting my real estate liscense in the summer i'll be finished all the courses i need grind for a year making as much money as i can then invest it in a couple properties around here and rent them out until they get paid off
then sell them at a higher value
 

LAZY

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Re: College is for suckers all the easy money is in Real Estate
« Reply #34 on: March 20, 2005, 12:53:36 PM »
i agree with that.. im going into Real Estate and im gunna also be a loan rep. this summer im taking the Real Estate classes, im gunna also go 2 Community College just to take a few classes that would make my Real Estate better like Business & all that.. ima be riccccccccccch!!!
 

Matrix Heart

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Re: College is for suckers all the easy money is in Real Estate
« Reply #35 on: March 20, 2005, 12:54:50 PM »
thats my plan to get me through college
to do real estate, getting my real estate liscense in the summer i'll be finished all the courses i need grind for a year making as much money as i can then invest it in a couple properties around here and rent them out until they get paid off
then sell them at a higher value

Read my prior posts...that's the best way to make money if you want to rent out.

I probably keep renting out my place forever  ;D because it's near SDSU and I'm sure SDSU is not going anywhere.
« Last Edit: March 20, 2005, 12:59:16 PM by K A I N »
 

Trauma-san

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Re: College is for suckers all the easy money is in Real Estate
« Reply #36 on: March 20, 2005, 02:33:29 PM »
Hmm, there's some stupidity floating around this thread.  First, what do you do when you go 2 or 3 months with no renters? You fall way behind on the bills.  What do you do with the 10 grand worth of damage they did to the property before they left?  You fall way behind on the bills.  You're in way over your head, unless you're making, oh, 100 grand a year.  If you're not making 100 grand a year, you have no business buying a half million dollar house.

SUV write offs?  Are you seriously that stupid?  Lemme get this straight.  You're gonna pay 50 grand to buy an SUV, just so you can deduct it from your income?  So... BEST case scenario, lets say you can deduct the full thing! 100% (which is ludicrious)... even if you could deduct 100% of the payment from your taxable income, that's like spending 100% of your money, to save the 24 percent of your money they would have taxed.  You just gave away a dollar, to keep from giving the government 24 cents.  Nice going genius, keep at it! 
 

Matrix Heart

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Re: College is for suckers all the easy money is in Real Estate
« Reply #37 on: March 20, 2005, 03:27:26 PM »
Hmm, there's some stupidity floating around this thread.  First, what do you do when you go 2 or 3 months with no renters? You fall way behind on the bills.  What do you do with the 10 grand worth of damage they did to the property before they left?  You fall way behind on the bills.  You're in way over your head, unless you're making, oh, 100 grand a year.  If you're not making 100 grand a year, you have no business buying a half million dollar house.

SUV write offs?  Are you seriously that stupid?  Lemme get this straight.  You're gonna pay 50 grand to buy an SUV, just so you can deduct it from your income?  So... BEST case scenario, lets say you can deduct the full thing! 100% (which is ludicrious)... even if you could deduct 100% of the payment from your taxable income, that's like spending 100% of your money, to save the 24 percent of your money they would have taxed.  You just gave away a dollar, to keep from giving the government 24 cents.  Nice going genius, keep at it! 

lol @ Trauma  ;D

I can live there while I look for tenants...I move in April 15.
I have had the house inspected twice and there are no damages just replacing alotta material (carpet etc...)

My uncle is a mortgage broker he's helping me out with advice.

I'm not gonna buy a SUV yet I just thought it was an interesting article...if I become a full-time real estate agent I might look into it  ;D read the article.


Single
Taxable income is over    But not over    The tax is..........Plus    Of the amount over
$0................................$7,150................$0.00............10%.......$0
7,150............................29,050................715.00..........15%........7,150
29,050..........................70,350................4,000.00........25%......29,050
70,350..........................146,750..............14,325.00...... 28%.......70,350
146,750.........................319,100..............35,717.00......33%......146,750
319,100................................................92,592.50..... 35%.......319,100

Don't worry about it trauma but here are the tax brackets  ;)


« Last Edit: March 20, 2005, 06:04:00 PM by K A I N »
 

chronic01

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Re: College is for suckers all the easy money is in Real Estate
« Reply #38 on: March 20, 2005, 03:46:30 PM »
yea my plan is to work as a real estate sales rep for like a year or 2 and then see where i'm at
if i can afford the money for a downpayment on a house i;d do it because the area i live in the need for real estate is huge
so we'll see gonna take it slowly and not jump ahead of myself
 

ImmortalOne

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Re: College is for suckers all the easy money is in Real Estate
« Reply #39 on: March 21, 2005, 12:06:28 AM »
This man is corrrect.....Real Estate is where the money is at.

I know too, because I myself am a Real Estate Agent.
check out my Jordan collection here:

http://www.dubcc.com/forum/index.php?topic=67063.0
 

411

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Re: College is for suckers all the easy money is in Real Estate
« Reply #40 on: March 21, 2005, 12:20:20 AM »
im curious......heres a question for u real estate agents and wannab's........whats the average salary of a real estate agent?
 

ImmortalOne

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Re: College is for suckers all the easy money is in Real Estate
« Reply #41 on: March 21, 2005, 02:50:46 AM »
im curious......heres a question for u real estate agents and wannab's........whats the average salary of a real estate agent?

there isnt an average salary, because you get paid on commissions. It just depends on how hot the market is, or how well you market yourself.

But, its typically very good money. Especially in California.
check out my Jordan collection here:

http://www.dubcc.com/forum/index.php?topic=67063.0
 

Matrix Heart

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Re: College is for suckers all the easy money is in Real Estate
« Reply #42 on: March 21, 2005, 07:02:30 AM »
Who do you work thru? ^


im curious......heres a question for u real estate agents and wannab's........whats the average salary of a real estate agent?

2-8% commision

And the median cost of a home in San Diego is $510,000.
« Last Edit: March 21, 2005, 07:05:14 AM by K A I N »