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Velociryx
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of Candle'Bre
Apr 1999
time: 05:29
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Kid, please refrain from putting words in my mouth. I have never stated that I am "better" than you.
The question is about economic advancement, pure and simple.
The answer of how that is accomplished is easy to remember:
1) Spend less than you earn and 2) Buy something that increases in value over time.
That's got nothing to do with who's "better."
If you're not working right now, then no, odds are excellent that you're also not spending much.
It also doesn't help that you're living in California (IIRC), which has relatively high unemployment and a high cost of living.
Thing is though, no one is making you stay. There's not some black-helicopter government agency out to get the Kid and ensure that he stays put in his "place" in sunny California. No, odds are good that that's a .....choice?
Hmmm.....
One of the results OF that choice is that you pay more to live in that state, and currently have to deal with a soft job market.
You could make a different choice right now.
In fact, IF you chose to move to the south, I'd even put you and yours up while you got on your feet (not that you'd enjoy living with an evil capitalist pigdog, but....).
If you're dissatisfied with your situation, then change it, and WHEN you change it....when you get back on the ol' employment roster, remember the two things above. If you practice them, you will succeed.
-=Vel=-
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Japher
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Ook! Ook! Ack! Ack! Ack!
Jun 2002
time: 05:29
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I have a freind who is a PI... No college education, works 12 hours a day, and has a great finacially secured life, and he is only 28 years old.
When he started the job he has about 6 years ago he moved in with a friend paying $300/mo for rent, $300 for beer and food, and $1000 for savings... $1600/mo, ain't a whole lot of money. After 2 years of doing this, with occasional vacations to the hills or Vegas, he had managed to savee $24,000... He bought a house in suburbs for $140,000 with the $24,000, almost 20%, so he took an 80/20 to cover it. In the last 4 years his house has rose incredibly to be worth around $245,000. So, what does he do? Re-fi's on his home loan takes out $50,000 puts it as a down on a 4 condo unit worth $500,000, and is completely rented out, as it is near the University, carries a mortgage on it that is is completely paid off by the renters, plus gives him $800 bucks a month!
Within 2 months he Wraps the loans he took to get the condo (own home and condo), now getting $900 a month, all of which is going back to his home equity. That was two years ago. Today his house is still worth in the mid $200,000, he has about $70,000 in equaty on it, plus he has $100,000 in equity on the condos. He has a net worth of $170,000, he still brings home $2000/mo, he owns his own home, has two nice cars, a motorcycle, and no worries, and he is only 28 years old.
Why did I tell this story? He started with nothing. He had a $10/hour job (after taxes), only a high school GED, and really nothing else. Yet, what he did have was discipline and knowledge on what money really is, and the willingness to take a risk.
I make way over $20/hour, I have a BS degree, I have a wife who also works, and I am 28 years old. Yet, I am not worth $170,000, I don't own my home, I don't have condos, and I am not finacially secure... Why? Maybe because I won't take the risk, maybe I'm scared? It doesn't really matter, because the opportunities have been plentiful,it's just that I haven't bother to put in the extra work. I haven't bothered to have lunch with a loan agent, I haven't bothered to spend my weekends looking at units to buy, I haven't bothered after a 10 hour day to study real estate investments, I haven't bothered to save $1000/mo and live off of $600. I want my big screen, my nice vacations, my nice clothes, and I want it now...
I have messed up. I have been out shown by my friend, someone who I also though dumber than me because he didn't go to college. What I realize is that we were both playing the same game, only I didn't bother to ask what game that was, nor did I bother to look at the rules.
Anyway. My friend is about to sell his house, buy some land in the country and build a house on it. He still works the same job, the long hours, and he has no intention on quiting. He says it keeps him going, that when his income from investment properties is equal to his expenses plus what it is he makes at that job, that then he will quit. I want to be more like him, in that he is braver than me, and he actually bothered to look for those opportunities. Where did he find them? On the street, but how did he know how to look? He studied.
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Japher
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Ook! Ook! Ack! Ack! Ack!
Jun 2002
time: 05:29
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quote:
Good story, Japher! |
Thanks, I have been friends with him for over 15 years. Enough to know that he isn't the sharpest tool in the shed, but he knows what matters.
My goals are similar as well, I just don't know what it is I want to get into, there are so many opportunities out their it is overwhelming. Which makes me wonder why people say there aren't enough.
Kid: my story takes place in Fresno by the way. So, if you want an opportunity, and you want what my friend has, I can see about getting you a job as a PI... You'll have to work long hours, but if you play the games as he did, you could be where he is, if your not there already mind you.
quote:
soon as I have replaced 100% of my "job" income with rents and so forth, my a$$ is retiring! |
I would like to think I would too, but the type who get to that position usually get so caught up in it that they find it hard to quit/retire or even relax. They think it is fun, and from what I have seen, it is.
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29-07-2003 21:58
Denying religion is as fundamental to the communist ideology as believing Jesus is the son of God is to the Christian faith.
Commies are rarely poor. We tend to have very good work ethics. The whole point of being a commie isn't to be poor, it's to be better off and make everyone else better off to. Why do you people always think we want everyone to be monks?
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