Tony Soprano's Hygiene

[Whips-n-Chains]

@Whips-n-Chains Can you break this down? What do you mean when you say the other unit pays your mortgage? I would like to do something like this but don't fully understand what you mean, sorry about that. If I get stationed stateside when I get int he air force I want to do some of this.

Any good books on real estate you recommend that go into detail about what you brought up with the duplexes and saving more and buying another, rinse and repeat?

lots of real estate stuff on YouTube. Just searching “owning a 2-4 unit building” or “income generating properties”. Grant Cardone or Ben Mallah (sp?) do almost exclusively multi unit buildings and are worth hundreds of millions now. Both have a less than desirable past. I think Cardone was a drunk or addict and Mallah was trying to be a loan collector for the mob.

so the idea is you own a 2-4 unit bldg which qualifies as a residential conventional loan (maybe even FHA loan if you’re lucky). So at most you’ll need 20% down. Anything over 4 units and you’re doing a commercial loan with 25%+ down, higher rates, variable rates, etc.

You buy a 120k duplex for example, your monthly mortgage may be approximately $1000 per month (like much more like $800). Now you live in one unit and rent the other unit out for say $1000/mo so your rental side of the duplex is covering your mortgage payment so you live close to free other than bills and such.

Not sure which area you live in so real estate prices and rental prices will vary. I’m in Chicago which has high cap rates on rental units which is great for the owners. Lotsssss of multimillionaires here do this and only this. It takes time but over time you accumulate more buildings and the value of the real estate typically increases 6% per year (more like 8-12% depending on specific areas in Chicago).

you can loan off your existing properties to accumulate more and defer the taxes too. I have some rental properties and I want more. Covid put a hit on my W2 earnings but it forced me to be much more entrepreneurial.

 

[Dave24]

lots of real estate stuff on YouTube. Just searching “owning a 2-4 unit building” or “income generating properties”. Grant Cardone or Ben Mallah (sp?) do almost exclusively multi unit buildings and are worth hundreds of millions now. Both have a less than desirable past. I think Cardone was a drunk or addict and Mallah was trying to be a loan collector for the mob.

so the idea is you own a 2-4 unit bldg which qualifies as a residential conventional loan (maybe even FHA loan if you’re lucky). So at most you’ll need 20% down. Anything over 4 units and you’re doing a commercial loan with 25%+ down, higher rates, variable rates, etc.

You buy a 120k duplex for example, your monthly mortgage may be approximately $1000 per month (like much more like $800). Now you live in one unit and rent the other unit out for say $1000/mo so your rental side of the duplex is covering your mortgage payment so you live close to free other than bills and such.

Not sure which area you live in so real estate prices and rental prices will vary. I’m in Chicago which has high cap rates on rental units which is great for the owners. Lotsssss of multimillionaires here do this and only this. It takes time but over time you accumulate more buildings and the value of the real estate typically increases 6% per year (more like 8-12% depending on specific areas in Chicago).

you can loan off your existing properties to accumulate more and defer the taxes too. I have some rental properties and I want more. Covid put a hit on my W2 earnings but it forced me to be much more entrepreneurial.

Thanks @Whips-n-Chains What job/career do you have?

 

[Whips-n-Chains]

^^^worst case you just do fetish porn on onlyfans

 

[Dave24]

^^^worst case you just do fetish porn on onlyfans

 

[Whips-n-Chains]

Thanks @Whips-n-Chains What job/career do you have?

I was in real estate for 5 years and medical sales for the previous 6 years. Covid changed up my earnings last year so I couldn’t qualify for additional mortgage payments so I’ve shifted my focus into business ownership. Getting into FBA (can’t share much bc I really just started a few weeks ago) and e-commerce. I did options trading for a while too until I got slaughtered mid February so I’ve put that on hold to focus on starting the e commerce biz.

 

[HipHopStan]

A lot of real life mob bosses had poor hygiene. Props to the writers, producers, actors/actresses for keeping that little authentic fact in the show.