I'm filthy and you can be too!

In the next thirty minutes I will tell you how to get rich and then you can call me and I will tell you your a sucker or *&^% off, your choice.

I hate these people. They come on and repeat the same thing three or four times and try to get ya suckered in. The bottom line for most of them is real estate. Sure I bought umpteen properties and made a marginal profit, but I made fricken millions telling you stupid jerks how I did it. They probably have posters of Ringleys Barnum and Baileys Circus, but vaguely know why.  If their real creeps they do, remember I'm measuring you too by this, so do ya ha? It's a reference of a quote by one of the above. None the less, now that that is over.

If you really want to know, I'm about as qualified to tell you. The first thing is, it isn't easy. First off to the bank. First you need your properties lined up. The one's you want to purchase for rentals. The banks going to want to know what to call collateral. Go to another bank and get the loan on a down payment. Make it twice the agreed closing cost, the agent wants a cut. This is just your first acquisition, lovely word, don't mean shit, just sounds good.

Now do this about nine more times, remember 100% closure is the target. Ok, you have the properties? Ok, get the renters. Now you can go a few ways with this, you can be a slum lord. You know the type, they live in a big house just off the lake, any lake, doesn't matter. Or you can really make money by doing research on real-estate that has reasonable sweat equity involved. Want to stay at home and live like a king on that lake, I thought so. These properties like I said have to be sound. Your going to have your problems, but that is a given. But if they're good to go in the first place, so are you. Run down, you might as well be run out. See the movie "The Super" with Joe Pesci  for insight into this. I rented a run down, this slum lord should have paid me, the roommate and I made it livable. As it was, we kept the deposit. Most will, don't even ask. If they don't keep it, their fools too.

The bottom line is, find good properties. Check into tax breaks for rental owners in your area too. Every state has different laws, do your homework. These get rich quick guys would do it for ya, but remember their get rich quick guys. Part of their getting rich deal is...well you get the picture.

Shit, see yourself doing it, take the Nike philosophy "just do it"

I myself, well I like it simple, all this above stuff is for the type A personality. These get rich quick guys fail to tell you that.

Anyway

Topper
Saturday October 01, 2005