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Thread: turning active income into passive income

  1. #1
    where de crix Oneshot's Avatar Oneshot is offline
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    turning active income into passive income

    what are you guys strategy.

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    Norman SWAGGERIFIC is offline
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    I would say one of the best ways to do this will be investing in rental properties and building a rental portfolio.
    GREATNESS IS ALL I KNOW

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    JA Soca Ambassador socapineman is offline
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    Quote Originally Posted by Oneshot View Post
    what are you guys strategy.
    Maaaaan, we went over this 5 years ago , the game is more or less over or you will need a team.....

    Yeah, find some empty lots in Balitmore or Philly......

    Well, you close to Philly, you will need a team with credit and liquid cash, we first made our money in NYC, LLC, flipped way too early, but moved on to Philly, North Philly, currently unwinding 2 mult families , same thing they doing in Crown heights, they doing in North Philly, they captured South Philly in 2005-2009.......this and Baltmore IMO are the Final Frontier !



    Even Atl, but again for you to make things work there, you have to be in it, trademan or have dependable ppl that you have to pay well to get the job done.


    If you don't want the headache and you have some real funds, do a Private Equity REIT, so you have a GP that make all the decisions, and you are a LP, most have like min 100k to 200k to get in, or you can the the mutual fund version...REIT....which might be more practical !

  4. #4
    where de crix Oneshot's Avatar Oneshot is offline
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    Quote Originally Posted by socapineman View Post
    Maaaaan, we went over this 5 years ago , the game is more or less over or you will need a team.....

    Yeah, find some empty lots in Balitmore or Philly......

    Well, you close to Philly, you will need a team with credit and liquid cash, we first made our money in NYC, LLC, flipped way too early, but moved on to Philly, North Philly, currently unwinding 2 mult families , same thing they doing in Crown heights, they doing in North Philly, they captured South Philly in 2005-2009.......this and Baltmore IMO are the Final Frontier !



    Even Atl, but again for you to make things work there, you have to be in it, trademan or have dependable ppl that you have to pay well to get the job done.


    If you don't want the headache and you have some real funds, do a Private Equity REIT, so you have a GP that make all the decisions, and you are a LP, most have like min 100k to 200k to get in, or you can the the mutual fund version...REIT....which might be more practical !
    you have a case study? or documented start point..
    so you buy, fix rent, then sell?
    how much capital we talking about.

  5. #5
    JA Soca Ambassador socapineman is offline
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    Quote Originally Posted by Oneshot View Post
    you have a case study? or documented start point..
    so you buy, fix rent, then sell?
    how much capital we talking about.
    Re : Philly, do a search in 19132, 30, 23, or Temple University, well maybe not Temple now, that is where the Big money pouring into like NYC, but those properties are going for 30k to 50k on the low end, on average you looking at material and labor about 30k to fix up,

    Again, you need a team or if you in that business......we were fortunate to know of guys that went there in 2002, 2003 , etc that were working on converting a lot of them to condos, etc in South Philly, they or the Blacks sold for little or nothing...10k, 20k, now those properties are 400k, 500k, etc....like 1 mile away from the middle of Philly, Center City......or put another way....midtown in Manhattan, and they sold out in the 20th and 30th blocks......crazy...ask anyone from Philly, or look up the Gradute area above Washington ave.....like Park Slope now......man..we just dont have that vision.


    If not, re your question, i feel REIT is a better way to go or if you know of another way, let me know.....that Rent/landlord is a lot of B.S.....dealing with tenants in general. Fcukers dont like to pay, especially when it is our ppl and they see you pull up for your rent.....yet, when Mr Goldberg own the property these fcukers pay up or find the money.......that is why i have no sympathy for most of them......Philly, Atlanta, and MD ....are landlord friendly states......they will throw them out in a min.


    I feel it for a lot of us......they just cant pay these outrageous rent......they dont have the income, and when you give them a chance, they dont want ro pay, i have friends that are cutting up basements, apts, etc. to rent out, these MFers calling popo, the building dept on you, etc....hence my take......so good luck, best to fix and sell or hold it for a while..empty.....NYC, unless you doing the highend rentals is a court case you looking to ' catch " for when you want to bash



    https://www.zillow.com/homes/for_sal...omePageTab=buy

  6. #6
    where de crix Oneshot's Avatar Oneshot is offline
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    Quote Originally Posted by socapineman View Post
    Re : Philly, do a search in 19132, 30, 23, or Temple University, well maybe not Temple now, that is where the Big money pouring into like NYC, but those properties are going for 30k to 50k on the low end, on average you looking at material and labor about 30k to fix up,

    Again, you need a team or if you in that business......we were fortunate to know of guys that went there in 2002, 2003 , etc that were working on converting a lot of them to condos, etc in South Philly, they or the Blacks sold for little or nothing...10k, 20k, now those properties are 400k, 500k, etc....like 1 mile away from the middle of Philly, Center City......or put another way....midtown in Manhattan, and they sold out in the 20th and 30th blocks......crazy...ask anyone from Philly, or look up the Gradute area above Washington ave.....like Park Slope now......man..we just dont have that vision.


    If not, re your question, i feel REIT is a better way to go or if you know of another way, let me know.....that Rent/landlord is a lot of B.S.....dealing with tenants in general. Fcukers dont like to pay, especially when it is our ppl and they see you pull up for your rent.....yet, when Mr Goldberg own the property these fcukers pay up or find the money.......that is why i have no sympathy for most of them......Philly, Atlanta, and MD ....are landlord friendly states......they will throw them out in a min.


    I feel it for a lot of us......they just cant pay these outrageous rent......they dont have the income, and when you give them a chance, they dont want ro pay, i have friends that are cutting up basements, apts, etc. to rent out, these MFers calling popo, the building dept on you, etc....hence my take......so good luck, best to fix and sell or hold it for a while..empty.....NYC, unless you doing the highend rentals is a court case you looking to ' catch " for when you want to bash



    https://www.zillow.com/homes/for_sal...omePageTab=buy
    I hear you about REITs, but not all REITs are created the same, and some of them man have massive exposure to commercial.

    you use mutual funds like vanguard for the exposure or individual REITs?

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