All Forum Posts by: Tony Thompson

There are two pieces of software I would like to hear reviews on. If any of our members have used the following software, please write a brief pro/con/conclusion about the software.

Trex Global's Simplify 'Em

Or

Quicken Rental Property Manager

I already have Quicken Premier 2009 but have seen sketchy reviews for the rental property manager upgrade.

Whether we are arguing healthcare, stimulus, or economy, the central bank is to blame and is the nerve center or corruption. It is a non partison issue too! This is were the REAL corruption is!

Back to point:

Health Care Reform Yes or No? No. (Assuming a socialist/fascist style of reform)

Health Care Reform Yes or No? Yes
(Assuming free market reform, no government involvement whatsoever)

I take my views from the most honest man in congress, a defender of the constitution, Ron Paul, who also happens to be a doctor himself.

Please watch and behold common sense:

http://www.youtube.com/watch?v=FqR-QzJUnvg

Man,

Today I was thinking how much I LOVE THIS GAME. Sit down with 4 or 5 other people that know real estate and let the games begin.

If you pay attention to the details in this game, it covers all the basics.

Be an Investor
If you just collect salary by passing go, this is the only time you will make money. Let your money work for you! Buy as much property as you can, collect rent, reinvest.

Negotiate
If you bought a property that hasnt been doing so good for you, work out a DEAL with another player using negotiating skills!

Keep a Cash Reserves
Ouch, luxury tax! Keep enough reserves so you dont have to sell out in order to pay your collector. Once in a while there is a little bad luck here and there. If you plan for bad luck, good luck will follow.

Use leverage
Found a property that you "cant afford"? Pull equity out of your other properties to buy that bad boy.

You cant get rich by renting
You are giving your money away by renting. Why rent? Just buy a property that fits your budget.

Anybody got any others?

Wow tough crowd!

I will be getting a duplex and owner occupy it and rent the other unit.

Simple question:

Do I open a checking account to dump rents and deposit into? Will I be using this account for expenses and debt service as well?

Thanks.

I checked out the old thread and yes they discuss in the book about achieving 1M net worth. In the same book it talks about achieving 1M annual cashflow. The cashflow is what I am referring to.

In the book it explains something along the same lines... that if you were strictly buying properties without pulling out equity from other investments, you could net a million annnual cashflow if you bought [x] rentals per year for [x] amount of years.

I can't remember the figures... [x]'s.

However, the number of rentals you needed to buy to net a million is SIGNIFICANTLY reduced IF you pulled equity out of other investments to purchase new investments.

It was something like if you buy 1.5 properties a year for 40 years, you would be making 1M net by the end of 40 years, assuming that you pulled equity out of each property to help pay the next.

Didn't mean to complicate this. Just am looking to have some fun with numbers. Aka number porn :wink:

Remember the book "The Millionaire Real Estate Investor"?

Remember when the author had a chart of the average number of properties you would have to own in a certain timeframe to net a million dollars a year? (The properties had assumptions as to rent and expenses)

My question is:

Is there an investment calculator out there that can provide this type of data?

Jon, do you/have you ever used equity to invest?