Rental Business Success!!
Well today a prospective tenant called and said tomorrow they will put down some money to hold the place until payday. Provided they pay on time and don't trash my place, I think I love the rental business. My sign hasn't even been up a week and I've had tons of calls and people stopping by to look at it. Pretty much everyone said the place is great.
The whole process has been rather enjoyable. I like fixing things up, and all the appreciation the neighbors have shown to see the house getting improved dramatically felt really good. And to think I've just made Beatrice a little bit better looking on just one block where there was a horrible eye sore, made me feel even better about it.
I'm anxious to buy my next one and I've already been looking. Its amazing how many good potential opportunities are out there. I think I'll stick to my plan and buy this duplex I've been wanting now for a year. I keep kicking myself about the past. At one time I had 3 million in credit, I could have bought 100 rentals with that kind of money and been cash flowing 25k a month or more THEN... and had them probably about all paid off by now and cash flowing more like 50k a month. I could have funded my game ideas with solid cash flow, and avoided bankruptcy and enjoyed a lot of years being rich by now.
Another time I had nearly 40k in the bank. The game industry was so harsh to me before that point that I hoarded every dime because I knew hardships always return. After about 10 months of no deals, no work, I pretty much burned up all that money and was broke. Had I bought 8 rentals at 5k down I could have basically had about 2k a month rolling in from that in positive cash flow. By now, I'd have had all that money back in the bank and hten some. Actually I'd have more rentals... but my point is I could have made a huge impact. Hind sight is always 20/20 though, and right now I'm focused on building my rental business and creating a new service business where I can make really good money to further build my rental business faster.
As much as I love games, I love making money and feeling successful MORE. I think I'm more of an entreprenuer than I am anything. I've always loved making money and making deals with people, and being in high demand. The game industry took all that from me and left me feeling pretty worthless for quite a few years. Now at nearly 42 years old I have no time to waste. I need a sure fire way to become rich and successful, and I think real estate and quality service are the sure fire path.
The whole process has been rather enjoyable. I like fixing things up, and all the appreciation the neighbors have shown to see the house getting improved dramatically felt really good. And to think I've just made Beatrice a little bit better looking on just one block where there was a horrible eye sore, made me feel even better about it.
I'm anxious to buy my next one and I've already been looking. Its amazing how many good potential opportunities are out there. I think I'll stick to my plan and buy this duplex I've been wanting now for a year. I keep kicking myself about the past. At one time I had 3 million in credit, I could have bought 100 rentals with that kind of money and been cash flowing 25k a month or more THEN... and had them probably about all paid off by now and cash flowing more like 50k a month. I could have funded my game ideas with solid cash flow, and avoided bankruptcy and enjoyed a lot of years being rich by now.
Another time I had nearly 40k in the bank. The game industry was so harsh to me before that point that I hoarded every dime because I knew hardships always return. After about 10 months of no deals, no work, I pretty much burned up all that money and was broke. Had I bought 8 rentals at 5k down I could have basically had about 2k a month rolling in from that in positive cash flow. By now, I'd have had all that money back in the bank and hten some. Actually I'd have more rentals... but my point is I could have made a huge impact. Hind sight is always 20/20 though, and right now I'm focused on building my rental business and creating a new service business where I can make really good money to further build my rental business faster.
As much as I love games, I love making money and feeling successful MORE. I think I'm more of an entreprenuer than I am anything. I've always loved making money and making deals with people, and being in high demand. The game industry took all that from me and left me feeling pretty worthless for quite a few years. Now at nearly 42 years old I have no time to waste. I need a sure fire way to become rich and successful, and I think real estate and quality service are the sure fire path.
posted by Joel Huenink at
1:37 AM
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