All Forum Posts by: Vince Chaudhuri

This is for all those who have been involved and have owned other types of businesses (be them pizza shops, retail stores, franchises, subway, mcdonalds, etc). How do you compare the business of real estate with the others? What are the pros and the cons of real estate AND the other businesses you were involved in . Also, curious as to whether there is anyone who had owned a drug store( as i just graduated from pharmacy school), and maybe even some frachise stores(like a subway or a McDonalds)

Thanks for the wisdom

Vince

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Hello,

I was wondering if there were any seasoned investors living in the DC/MD/VA area on this forum. Or if someone knew where i could find someone honest and successful.

Thanks

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Fellow investors. Just want some age old wisdom from all the heavy hitting investors. I have networking with investors in the Washington DC metro area and the general consensus is this:
The average income around here is around 90K.
Plenty of jobs. (the government is not going anywhere).
Housing prices DID take a hit. But govt jobs are stable, so it wasnt so bad.
Also, over the last 20 years,overall, it is one of the areas that has experienced steady appreciation
Negatives are that houses in this area are expensive(and thus getting cashflow is a problem). Around 300K average.

My question is this, given the average income, the job stability, and the appreciation, is this a good city to start an investing career?
Hoping some of the heavy hitters, Rich Weese, Natiowide, and others will shed some light.
Thanks for the wisdom
Vince

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I AM IN !!! .. $59 dollars is cheap.... and this is coming from a college student sleeping on a sofa...
Josh... make it happen buddy !!

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What states are best to find cash flowing properties, and which ones should i avoid??

Thanks,
Vince

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Hello,

I have been told that some states/areas/cities cash flow better than others. For example, ive heard that most of the 'red' (republican) states cash flow better than their democratic counter parts. In that case, is there a state that is renowned for cashflowing? If so, which one is this. Also what are the states that are notoriouos for not. Please advise.

Thanks

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Just curious,

But was wondering what some people were before they turned to real estate investing. What type of job did you have and how do you compare real estate investing to your job??
BTW... any physicians, pharmacist, health care professionals here??

Vince

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Greeting investors!!!

Was wondering if one wanted to make say 250K/year after 4 to 5 years, What niche in real estate should they go after. For example , i heard that is hard to build significant wealth wholesaling. In what areas of real estate can one make those returns (above 250 K/ yr) ? If there is a hierarchy where in some fields(eg rehabbing, wholesaling, short selling) one is likely to make more money, what order are they in and why. Additionally, if one works 40 hrs a week and makes six figures, and wants to make the above mentioned income after 4 to 5 years, what aspect of real estate should they specialize in. Please advise, thanks.

Vince

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Originally posted by Rich Weese:

OK. Here goes.
When I was young, I wanted to be a millionaire(there weren't many if any billionaires). I was in the right place at the right time doing the right thing, real estate. And, I was good at it. I literally started as a college student doing janitorial work and got into real estate by accident.
It was at times of high inflation and my net worth was doubling every 3 months or do(not very big at the start)but it got big very fast. Soon, I was a millionaire and it kept doubling. I remember one day, when Dr. Buss bought the Lakers. The price was well under 100million. I remember thinking if I kept doubling my net worth every year or so, I could buy a team like the Dodgers!
About this same time, I had let my weight get up over 300 pounds(I'm 5'6"!)
and went to the DR. He told me I was going to be "the richest man in the GRAVEYARD". That startled me, since I wasn't yet 30. My kids didn't know me, my wife was looking other places for her fun and happiness. It was a mess.
I had been extremely lucky and decided to hang it up and raise my 4 kids and please my wife(We had 2 more kids, as those that have my book can see on the back cover!). I'm not sure if I had continued if I could've reached 1B or not. I do believe I wouldn't be celebrating 40 years of marriage next year, wouldn't have travelled the world and taken 25 cruises,enjoyed my grand kids, etc.
If you take a penney and double it every day for 31 days, you'll have over 10 million dollars. If you doubled it for 8 more days you'd have your B starting with nothing. SO, if you are 20 and can find some program that will double your net worth each year for 40 years, at the age of 60 you'll be worth a B.
This is difficult today. Taxes eat into that, which I've basically never had to pay, greedy litigators, crooks etc. cause wealth building problems.. Real Estate is now scary, for the first time ever to many people.
I've agreed with a lot of what others have posted here. As to the initial posters' question and from one that really feels I had a chance to create 1B in wealth, I don't honestly believe you can now do that only on real estate. I think you need a jump start in there somewhere, like invent something etc, or have a big nest egg from daddy to start with. Those are my thoughts except for one last thing. I REALLY wish I would've done it slower and spent more time with family in early years. I lost a lot by being all consumed with real estate. Good luck on all your journeys. Rich.

Rich,

Why do you say that real estate is scary for the first time to many people. What has changed from when you started investing. How has the opportunity of real estate evolved?

Thanks
Vince

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Originally posted by Rich Weese:

Robert- I'm switching gears a little bit. I moved to FL to buy sfrs. They are a pain to buy.. I'm now trying to find a home for some significant funds. I'd buy a batch of reos in the right area and amounts. I also would buy TX apts if I could steal them.

Vince- I like TX overall and so TX especially. It has the lowest home median price in the state. It has a city across the border of 1 million people. That is where all the plants moved!. It has a new super highway (#69) going right through so. texas area on its way to Canada. It has the winter texans moving there each year and many stay. It has amazing buying power because of hispanics across the border and older winter texans- and they have LOTS of money. There is also unrest in Mexico and lots of Mexiacans from Monterey are buying 2nd homes in S. Tex.
All of these reasons make rio grande valley the # 1 rated area for appreciation for three years in a row. Rich in TX.

Rich,

Awesome stuff. Thanks for being so helpful. Cant believe how much you can learn here!!!!

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All Forum Posts by: Vince Chaudhuri

Vince Chaudhuri has started 10 posts and replied 14 times.

Post: Compare real estate and other businesses!!??

Post: Any seasoned mentors in the DC/MD/VA area?

Post: Any takes on the Capital? DC?VA/MD area?

Post: A real way to learn RE investing?

Post: cashflowing states

Post: What areas cashflow the best.

Post: what are you before an RE investor?

Post: What niche to specialize in?? Please advise!!

Post: Do you think it's possible to create 1b net worth?

Post: Where would you move to if you had to start new??!!