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Motivate me!
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mistersnort Offline
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Post: #1
Motivate me!
I been out of school for over 2 years my work contract has effectively ended (although I am still technically signed through october) they gave me a bonus to stay at home.

I need to study for the law school test and the first day I open the book I found it impossible to get through, motivate me so I am not so lazy.
06-19-2013, 04:46 AM
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Loy Offline
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Post: #2
RE: Motivate me!
No one can actually help with your laziness problem, IMO. However, whenever I need to get through tough readings, I find certain background music from Beethoven, Mozart, Chopin and a few others, helps with the concentration and thus enhances your comprehension. Law requires real reading skills, you should seriously think about it if you have problems with early books. :/
06-19-2013, 04:56 AM
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mistersnort Offline
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Post: #3
RE: Motivate me!
LSAT =/= law.
In fact LSAT is the furthest thing from law imaginable. Never mind that I've been told so by family members who are lawyers including my brother and cousin. I do not have a reading disability. I've taken law school courses when I was on exchange in europe (law is just another faculty in undergrad there its not a second entry undergrad like in the us). My prof was a lawyer, its no harder than any other social science course. Its tantamount to saying if you aren't good in the gmat forget about doing business. I am sure george bush did so great on his gmat right?
06-19-2013, 06:28 AM
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Dash Offline
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Post: #4
RE: Motivate me!
Think long and hard about law school.

Get a job where you can save about 20K (the more the better) a year and parlay that money into real estate so you can have passive income or you can do some flipping for quick cash.

If you play your cards right you can be semi retired in 5-10 years.

06-19-2013, 09:27 AM
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mistersnort Offline
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RE: Motivate me!
Real Estate not for me. You always have to be prepared to buy the property outright, with all the interest its like you are paying for the house twice. Real estate is debt, stocks are equity. With stocks you can never go below zero, in real estate you can. You can buy bonds in brazil that pay 20%-30% return a year. I've been trying to get in on it but seems you need to actually go there to get in on them. 20k is not enough to buy a tent in canada. You going to need 500k if you want a nice house and the prices are quickly jumping to 750k, 600k for the town house across the street. Law school is not perfect, if you can get a job that offers the same long term option, basically 100k floor salary in a more or less desk job, I'd go for it, but I am unaware of them.

Sure maybe I can get a tenant to pay 1 grand a month on a 2500 grand mortgage but then I still have someone in my basement and 1500 a month mortgage payment. Versus putting 100k in a 10% coupon bond paying twice semi annually or getting 20k over the year. Ultimately I feel RE is not consistent with the mobile independent location lifestyle we all desire. I can be anywhere in the world and receive my dividend, I can sell 10k in stocks in a minute and transfer that balance to my debit card. I can be on a beach in vietnam and not have to worry if bond will be paid back by an A rated company. Sure there are some exceptions there are some enrons, but there are more underwater mortgage holders than guys burnt by enron stocks.

Flipping is very dependent, you need a realtor who will flip for you and not screw you, you need a lawyer who doesn't fuck up on the deal, you need to find a cheap contractor when alot of the prices are mafia controlled here, you need alot of pieces to fall in place. Its more or less like running a side business.

Unless your building a resort in the carribean you are not going to make the type of returns you will on stock. RE is a safe steady growing investment whose pay off is 10-20 years down the road. Stocks pay off every year. I can use my stock money to pay my mortgage and still get a renter. I think the ideal portfolio would be get in stocks and bonds first, use that money to pay your living expenses. In 10 years take out your house equity and stock equity, borrow as much as you can and enjoy the money in Thailand.
06-19-2013, 12:04 PM
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Dash Offline
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RE: Motivate me!
(06-19-2013, 12:04 PM)mistersnort Wrote: Real Estate not for me. You always have to be prepared to buy the property outright, with all the interest its like you are paying for the house twice. Real estate is debt, stocks are equity. With stocks you can never go below zero, in real estate you can. You can buy bonds in brazil that pay 20%-30% return a year. I've been trying to get in on it but seems you need to actually go there to get in on them. 20k is not enough to buy a tent in canada. You going to need 500k if you want a nice house and the prices are quickly jumping to 750k, 600k for the town house across the street. Law school is not perfect, if you can get a job that offers the same long term option, basically 100k floor salary in a more or less desk job, I'd go for it, but I am unaware of them.

Real Estate is for everyone man. Its easy passive income if you know what your doing and have the right team / system in place.

If you buy a house outright (which you can for 30-50k in many parts of the US) there is no interest. Interest is developed on a mortgage when one has to finance the house. Moreover, if you buy a house and put 50+% down on a 30 year note, your mortgage will be tiny your rent garnished will easily exceed your expenses generating positive cash flow. Id advise buying a house outright or close to it and getting 500-1000 usd a month in positive cashflow. Home ownership is assets, and if you do your homework ie buy low in the right market you will be set. Find me somewhere in the US where rent prices have went down over the last decade. I dont know about Canada but in the US you can certainly buy houses for cheap that rent out around 800-1,200 dollars. Canadians can buy in the US so I am not sure why you even brought up the prices in Canada.

Quote:Sure maybe I can get a tenant to pay 1 grand a month on a 2500 grand mortgage but then I still have someone in my basement and 1500 a month mortgage payment. Versus putting 100k in a 10% coupon bond paying twice semi annually or getting 20k over the year. Ultimately I feel RE is not consistent with the mobile independent location lifestyle we all desire. I can be anywhere in the world and receive my dividend, I can sell 10k in stocks in a minute and transfer that balance to my debit card. I can be on a beach in vietnam and not have to worry if bond will be paid back by an A rated company. Sure there are some exceptions there are some enrons, but there are more underwater mortgage holders than guys burnt by enron stocks.

Lol 2500 grand mortgage? Dude I am not talking about nonsense like that. I am talking about buying a property for cheap that is easy to rent out for 30-60k which nets 800-1200 dollars in rent. Which 100k you can purchase like 2-3 homes outright or like 5 homes financed which will bring in more than 20k a year while also rising in value.

Quote:Flipping is very dependent, you need a realtor who will flip for you and not screw you, you need a lawyer who doesn't fuck up on the deal, you need to find a cheap contractor when alot of the prices are mafia controlled here, you need alot of pieces to fall in place. Its more or less like running a side business.

Um, nice doom and gloom spin on it. The reality is you can purchase a distressed house with the standard 20% down, fix it up, and sell it and pocket 10-30k within 1-3 months.

Side business? Hardly.

Quote:Unless your building a resort in the carribean you are not going to make the type of returns you will on stock. RE is a safe steady growing investment whose pay off is 10-20 years down the road. Stocks pay off every year. I can use my stock money to pay my mortgage and still get a renter. I think the ideal portfolio would be get in stocks and bonds first, use that money to pay your living expenses. In 10 years take out your house equity and stock equity, borrow as much as you can and enjoy the money in Thailand.

10-20 years down the road?!? WTF Dude that is for some buy and hold shit.

You really need to read up on REI as it appears you havent down so before and only know about a few things you have heard people say on the internet or real life.

BiggerPockets.com & 123Flip.com will get you up to speed.
06-19-2013, 01:49 PM
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007 Game Offline
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Post: #7
RE: Motivate me!
If you keep being lazy you'll end up like Rocking.

How is that for motivation?
06-19-2013, 03:26 PM
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mistersnort Offline
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Post: #8
RE: Motivate me!
Ah Van of Victory you going to need a little more than that to motivate my lazy ass. I use to be so motivated could work for 12 hours straight, now I can't work for 5
(06-19-2013, 01:49 PM)Dash Wrote:
(06-19-2013, 12:04 PM)mistersnort Wrote: Real Estate not for me. You always have to be prepared to buy the property outright, with all the interest its like you are paying for the house twice. Real estate is debt, stocks are equity. With stocks you can never go below zero, in real estate you can. You can buy bonds in brazil that pay 20%-30% return a year. I've been trying to get in on it but seems you need to actually go there to get in on them. 20k is not enough to buy a tent in canada. You going to need 500k if you want a nice house and the prices are quickly jumping to 750k, 600k for the town house across the street. Law school is not perfect, if you can get a job that offers the same long term option, basically 100k floor salary in a more or less desk job, I'd go for it, but I am unaware of them.

Real Estate is for everyone man. Its easy passive income if you know what your doing and have the right team / system in place.

If you buy a house outright (which you can for 30-50k in many parts of the US) there is no interest. Interest is developed on a mortgage when one has to finance the house. Moreover, if you buy a house and put 50+% down on a 30 year note, your mortgage will be tiny your rent garnished will easily exceed your expenses generating positive cash flow. Id advise buying a house outright or close to it and getting 500-1000 usd a month in positive cashflow. Home ownership is assets, and if you do your homework ie buy low in the right market you will be set. Find me somewhere in the US where rent prices have went down over the last decade. I dont know about Canada but in the US you can certainly buy houses for cheap that rent out around 800-1,200 dollars. Canadians can buy in the US so I am not sure why you even brought up the prices in Canada.

Quote:Sure maybe I can get a tenant to pay 1 grand a month on a 2500 grand mortgage but then I still have someone in my basement and 1500 a month mortgage payment. Versus putting 100k in a 10% coupon bond paying twice semi annually or getting 20k over the year. Ultimately I feel RE is not consistent with the mobile independent location lifestyle we all desire. I can be anywhere in the world and receive my dividend, I can sell 10k in stocks in a minute and transfer that balance to my debit card. I can be on a beach in vietnam and not have to worry if bond will be paid back by an A rated company. Sure there are some exceptions there are some enrons, but there are more underwater mortgage holders than guys burnt by enron stocks.

Lol 2500 grand mortgage? Dude I am not talking about nonsense like that. I am talking about buying a property for cheap that is easy to rent out for 30-60k which nets 800-1200 dollars in rent. Which 100k you can purchase like 2-3 homes outright or like 5 homes financed which will bring in more than 20k a year while also rising in value.

Quote:Flipping is very dependent, you need a realtor who will flip for you and not screw you, you need a lawyer who doesn't fuck up on the deal, you need to find a cheap contractor when alot of the prices are mafia controlled here, you need alot of pieces to fall in place. Its more or less like running a side business.

Um, nice doom and gloom spin on it. The reality is you can purchase a distressed house with the standard 20% down, fix it up, and sell it and pocket 10-30k within 1-3 months.

Side business? Hardly.

Quote:Unless your building a resort in the carribean you are not going to make the type of returns you will on stock. RE is a safe steady growing investment whose pay off is 10-20 years down the road. Stocks pay off every year. I can use my stock money to pay my mortgage and still get a renter. I think the ideal portfolio would be get in stocks and bonds first, use that money to pay your living expenses. In 10 years take out your house equity and stock equity, borrow as much as you can and enjoy the money in Thailand.

10-20 years down the road?!? WTF Dude that is for some buy and hold shit.

You really need to read up on REI as it appears you havent down so before and only know about a few things you have heard people say on the internet or real life.

BiggerPockets.com & 123Flip.com will get you up to speed.
For the first time you made some sense, I will have to take a 2nd look at the things you said and investigate them deeper.
-why would someone pay 800 a month to rent for a 30k or 50/60k property?
-Where in the us does this exist, the median house price is like 220k even in the usa.
-US houses don't always rise in value, I am assume if your paying 60k for a house its in the ghetto, if everything goes well, no deadbeat tenant who don't pay on time then yeah you could make good money. But how do you ensure the money, isn't it common for these types of tenants to stiff the landlord often, esp. in usa?
-isn't us the place where 60 minutes is showing a block full of houses no one will buy? Isn't that the place full of people who are walking away from there mortgages, this is what I see on tv and hear and see when I travel there. Are you in a specifically strong real estate market?
(This post was last modified: 06-20-2013, 05:12 AM by mistersnort.)
06-20-2013, 04:59 AM
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Dash Offline
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Post: #9
RE: Motivate me!
(06-20-2013, 04:59 AM)mistersnort Wrote: For the first time you made some sense, I will have to take a 2nd look at the things you said and investigate them deeper.
-why would someone pay 800 a month to rent for a 30k or 50/60k property?

They have no choice on rent prices depending on where they live. They are what they are.

Quote:-Where in the us does this exist, the median house price is like 220k even in the usa.

Ohio for one.

Quote:-US houses don't always rise in value, I am assume if your paying 60k for a house its in the ghetto, if everything goes well, no deadbeat tenant who don't pay on time then yeah you could make good money. But how do you ensure the money, isn't it common for these types of tenants to stiff the landlord often, esp. in usa?

Rule number 1, never assume. These houses I am talking about are in older middle class neighborhoods. You can certainly buy a house in the ghetto, but I would advise against it as your clientele will be of a lesser kind. Keep in mind though, you can negate this largely with proper and strict screening of tenants. Even in the ghetto there are hard working responsible people that have paid their rent every month.

Quote:
-isn't us the place where 60 minutes is showing a block full of houses no one will buy? Isn't that the place full of people who are walking away from there mortgages, this is what I see on tv and hear and see when I travel there. Are you in a specifically strong real estate market?

The US is large. Markets vary. Do your research and find the good markets.

06-20-2013, 07:43 AM
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