6 Figures 6 Certs Random Thoughts Thread

[Obreh Winfrey]

Do such a good job that they'll be shook if you aren't there . How you gonna let the entry level show ya'll how it's done ?

 

[Idaeo]

I’ve been at my current job 11+ years, IT type work, very very stable job, meh but okay pay, 50-70% world travel, based in the LA metro

I have a project manager opportunity in the DC area, where I grew up, via a friend who owns a very successful company, great pay (20% more than my current salary) with corporate opportunities.

I think I’m gonna make that move back.

 

[phcitywarrior]

I’ve been at my current job 11+ years, IT type work, very very stable job, meh but okay pay, 50-70% world travel, based in the LA metro

I have a project manager opportunity in the DC area, where I grew up, via a friend who owns a very successful company, great pay (20% more than my current salary) with corporate opportunities.

I think I’m gonna make that move back.

Welcome back to the DMV

 

[Panther]

Anyone here knowledgeable about buying foreclosed homes and getting a home equity line of credit with it?

My boy from London called me up a week ago and said there’s a way in the US where I could take $2K, buy the deed to a foreclosed home, take the deed to the bank and get up to a $20K line of credit.

I’m always open to make side income but a $2K to $20K flip sounds funny. We’re having a call later this week so he can fully explain the process to me because I’m sure I’m missing crucial steps/info.

@HacksawJimThuggin

 

[HacksawJimThuggin]

Anyone here knowledgeable about buying foreclosed homes and getting a home equity line of credit with it?

My boy from London called me up a week ago and said there’s a way in the US where I could take $2K, buy the deed to a foreclosed home, take the deed to the bank and get up to a $20K line of credit.

I’m always open to make side income but a $2K to $20K flip sounds funny. We’re having a call later this week so he can fully explain the process to me because I’m sure I’m missing crucial steps/info.

It's not nearly that simple lol. The title to the property would need to be clear and then you could get a line of credit for up to 80% of the value of the property, but I don't know of any properties with clear title that can be bought for $2k. I guess it's worth hearing him out, but I'm telling you from experience, it's not nearly as simple as he's making it sound.

 

[phcitywarrior]

It's not nearly that simple lol. The title to the property would need to be clear and then you could get a line of credit for up to 80% of the value of the property, but I don't know of any properties with clear title that can be bought for $2k. I guess it's worth hearing him out, but I'm telling you from experience, it's not nearly as simple as he's making it sound.

Do you have any articles I could read up on this stuff. It seems legit, but I gotta do my DD first.

 

[NeilCartwright]

It's not nearly that simple lol. The title to the property would need to be clear and then you could get a line of credit for up to 80% of the value of the property, but I don't know of any properties with clear title that can be bought for $2k. I guess it's worth hearing him out, but I'm telling you from experience, it's not nearly as simple as he's making it sound.

Anyone here knowledgeable about buying foreclosed homes and getting a home equity line of credit with it?

My boy from London called me up a week ago and said there’s a way in the US where I could take $2K, buy the deed to a foreclosed home, take the deed to the bank and get up to a $20K line of credit.

I’m always open to make side income but a $2K to $20K flip sounds funny. We’re having a call later this week so he can fully explain the process to me because I’m sure I’m missing crucial steps/info.

Even if you bought a house at an auction like that, wouldn’t you not have any equity in the home bc you haven’t been making payments on it? Ive heard of guys buying homes in Detroit for under 20k cash, then rehabbing & renting them. I’m tryna this understand this myself. I haven’t bought a home yet.

On the flip side, with this trucking thing, left my old company and signed with a new guy. A young Russian guy who pays 93% of the line haul

Got a load today on short notice paying 1000 to go 415 miles. $719 to the truck, then I’ll pay my driver half of that. 5 of these loads a week and we’ll be straight to stack and scale.

My driver bytching about no luxuries in the truck but I told her when we been running for a couple weeks we can look into a microwave, etc. Talking bout she gon leave, ima call her bluff

 

[HacksawJimThuggin]

Do you have any articles I could read up on this stuff. It seems legit, but I gotta do my DD first.

I'm not really sure about articles, but the premise is simply buying properties for pennies on the dollar that have substantial equity (MUCH easier said than done, there's people that do this full time that are skilled in such. There's another real estate thread on here that I've posted instructions on how to best do this, if someone is willing to do the work). Then getting the property appraised and taking out a mortgage (which one would need to qualify for) on the equity of the property.

Assuming you were able to accomplish those things, you could take out equity in the property at a low interest rate and just make monthly payments on the loan. But... if the property has equity, why not just sell it and then you get the profit interest-free rather than taking out a HELOC?

 

[phcitywarrior]

I'm not really sure about articles, but the premise is simply buying properties for pennies on the dollar that have substantial equity (MUCH easier said than done, there's people that do this full time that are skilled in such. There's another real estate thread on here that I've posted instructions on how to best do this, if someone is willing to do the work). Then getting the property appraised and taking out a mortgage (which one would need to qualify for) on the equity of the property.

Assuming you were able to accomplish those things, you could take out equity in the property at a low interest rate and just make monthly payments on the loan. But... if the property has equity, why not just sell it and then you get the profit interest-free rather than taking out a HELOC?

Thanks breh. You said you posted in the Real Estate thread? I’ll look into it.

 

[darius19]

How y’all go about networking for jobs?

Any of you guys got mentors and how do you find em?

 

[phcitywarrior]

How y’all go about networking for jobs?

Any of you guys got mentors and how do you find em?

1- Networking for jobs? I use the LinkedIn of my current network. E.g. I want to go to company X. I’m connected with John who knows Jack in company X. I’ll ask John to introduce me to Jack and take it from there.

I also advise trying to meet in person if you can, especially if you work in the city proper eg NYC, DC, ATL, etc. Take a 1hr lunch and connect with people in offices close by. I’m taking a Friday off work in a few weeks to head up to NYC to hold back to back face to face meetings with people.

Also, keep in touch with people from your old jobs. Whether you left, or they left. You don’t have to love everyone at work, but you should be civil. Don’t burn bridges.

Another area is professional clubs and courses. Toastmasters (speech and presentation skills) and development courses are great for meeting other professionals.

Idk if you live in a major city proper, bit if your close by, then look for any professional orgs in the city close by to you.

2- With mentors, I just try to reach out to people in spaces I’m interested in. Build a relationship and keep in touch. Keeping in touch is really key here. Try to give them some updates of what’s going on or just shoot them a text every now to find out how things are going. If you haven’t touched base in a while, holidays or birthdays are a good way to thaw a cold connection. That or if you see a cool article related to what they do. E.g. “Hey Jason, I saw your company just bought a start-up, sounds exciting, hope all is going well”.

Also, you gotta pull your weight with mentorship. Don’t ask for what you can find yourself. They are a resource, not a crutch. You gotta do the leg work. And it’s good to understand that not everyone can and will be your mentor. That’s fine. Having the right network and mentors is better than having a whole bunch that don’t offer you insight or perspective.

The bighest thing tho, be 100% and just be genuine. Don’t force what isn’t there at all.

 

[Cynic]

cant say from where or i will expose myself but it's a small city in europe

Is it in Finland ? What's the salary ? Give me a range. 30-40k Sterling pound ?

I got some game for that Jimmy two times breh.

 

[Cynic]

I'm not really sure about articles, but the premise is simply buying properties for pennies on the dollar that have substantial equity (MUCH easier said than done, there's people that do this full time that are skilled in such. There's another real estate thread on here that I've posted instructions on how to best do this, if someone is willing to do the work). Then getting the property appraised and taking out a mortgage (which one would need to qualify for) on the equity of the property.

Assuming you were able to accomplish those things, you could take out equity in the property at a low interest rate and just make monthly payments on the loan. But... if the property has equity, why not just sell it and then you get the profit interest-free rather than taking out a HELOC?

I would avoid all of this. There are better ways to make money in real estate without risking your own credit or capital.

If you can source below market value properties* then you are better off assigning those deals to investors rather than taking HeLOC loans in a low interest rate economy.

 

[Pyrexcup]

Is it in Finland ? What's the salary ? Give me a range. 30-40k Sterling pound ?

I got some game for that Jimmy two times breh.

Finland? but salaray is 27k

 

[phcitywarrior]

I'm back