What are you up to today

john55c · **Posted:** Thu Jan 29, 2015 6:55 am

Jdpber wrote:

I don't see how someone can have a 60k boat that sits on a lift all of the time. and hell I'm out on the beautiful days. so why the hell are they not out also.

USE YOUR BOAT.

Right on!

ric, are you able to sublet your rental like you are planning? Most leases usually have a clause preventing such.

Jdpber · **Posted:** Thu Jan 29, 2015 9:04 am

next month rich will be buying his rental and own both.. one is live in and other is pure income property..

ric · **Posted:** Thu Jan 29, 2015 9:37 am

I don't have a written lease on my rental, I'm friends of the family. I can do whatever I want they don't care if I sublet. 4 bedroom townhouse at $500 a room ($600 for master). $2100 bucks. Minus rent, power, and internet = $600 profit. If the bank accepts my offer for the new place(asking price), the mortgage is $650 a month. It's a 3/2 townhouse. Rent two rooms out at $500 each. Now, not even pulling but $50 bucks out of my pocket I'm paying $1650 a month towards the mortgage.

If I pay $1600 a month the house will be paid off in 4.5 years. it also saves me $61000 in interest. 4.5 years is nothing that will go by with a blink of an eye. Let's not forget I make a decent wage and If I wanted to I could throw another $1000 a month on top of that and have it paid off in 3 years without remotely hurting my budget. I got a late start in the game due to my marriage and divorce, but I can be 36 years old and own a fully paid off 3/2 lakefront townhouse.

Then I can tell everyone to get the **** out, and start buying more as rental properties. My goal is by 45 to own enough rental properties to clear $4000 a month. By 50 to be making double that, and so on. I'm sad I got started 10 years late in the game, but it's time to play catch up. My goal is to retire working for "the man" by 50. Totally obtainable not even an unrealistic goal.

Not bad for someone who never went to college and graduated highschool with a 2.8gpa

Jdpber · **Posted:** Fri Jan 30, 2015 3:38 pm

it is not hard. one property at a time.. I have a trust that owns all of my properties set the same as my dad and grandad. helps with taxes and other things.. bet off is the trust owns the property and not my name thus if way a fatal car accident or someone decides to sue me for the world they cannot touch the trust as i am simply acting controller. Same goes for our family money. everything is in the trust pool. Safe and tucked away.. If you plan to have more that 5 properties i would form a trust it is well worth he lawyer fees.. Once my sons college fund is filled (hopefully by the time he is 1) i will get back at the property game. But for now i am content with 2 duplexes, a town house, and 15k feet of office building (i own a floor of a 6 story office building that my dad built about 15 years ago with his sister and brother).

keeping rent constant and not having to feed escrow with our own dime is the key to success. Also paying of relatively quick so it is all in the plus.

Today i secured 15 reclaimed planks from a South Carolina Cotton mill (age and history tomorrow) they are 2.5'x7'x10' 1/3 tong groove notched planks. I will be building the wife a 4x10' dining room table with trestle base with 3/4" dowel pegs and hidden mortices. For now the planks will be stored in my granddads barn until we make a decision and find or 30 year house to raise our family..

yes it will be a 2.5" top table. yes you can dance on top of it and not worry. Yes it will be built like a brick shit house. Yes it will be one of those conversation items that is later passed on in the family.. I will probably need 4 big grown ass me to move it hahaha but atlas i know that the center will not sag.

this is the lumber..

and this is the inspiration and relatively how the dining room will be.

this is also a base is the brain for potential design.

Jdpber · **Posted:** Mon Feb 02, 2015 9:42 am

well i got the Cotton mill timbers, moved them a few miles to granddads barn and drove home 2 hours. Then proceeded to spend the rest of the weekend feeling like death from food poisoning with the wife.

now it is monday and i feel......ok ish i guess. not 100% but i am better.

Jdpber · **Posted:** Tue Feb 03, 2015 8:24 am

eating cheese crackers.

ric · **Posted:** Tue Feb 03, 2015 12:01 pm

Just had the company come out to replace the windshield on my BMW (again). Some dude in a beat up pickup truck showed up with aftermarket glass with the wrong color tint band. Politely declined his service, called my insurance company and setup with another vendor.

Jdpber · **Posted:** Tue Feb 03, 2015 3:34 pm

that blows ^^

deafwish · **Posted:** Wed Feb 04, 2015 3:33 pm

Lapping up the glory of my boat being on the international Four Winns FaceBook Page!

alex8q4 · **Posted:** Wed Feb 04, 2015 6:10 pm

Confirmed... You are famous!

ric · **Posted:** Thu Feb 05, 2015 11:27 am

Thinking about heading to Ikea to get some home furnishings to redo my living room.

alex8q4 · **Posted:** Thu Feb 05, 2015 11:56 am

2 more sleeps and I will be off to Ric's house.

Ok, ok,... Florida anyways. -27 c before the wind chill this morning, I need out!

ric · **Posted:** Thu Feb 05, 2015 12:32 pm

ha you're more than welcome to crash the couch lol

Windshield round 2 is going on right now. New company. This time they came with BMW OEM glass. It takes about 4 hours to do on my car.

alex8q4 · **Posted:** Thu Feb 05, 2015 4:55 pm

well you better be picking up a big couch at Ikia. My family and I don't want to be cramped.

ric · **Posted:** Fri Feb 06, 2015 7:05 am

annddd Safelite f***ed up the install. BAD. Caused at least $500 damage to my car. Waiting to hear back from the regional manager to come assess the damage. Sent pics to corporate and their first reaction was literally "oh my god"

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