All Forum Posts by: Ivan Jouikov

I just did a title report on a 4plex deal i'm considering. I've seen the actual place, and it's a 2 story 4plex (single building). It's been recently remodeled and doesn't have any tenants. The title report says, though:

Zoning: R2-SRD (huh?)
County Use: Single Family Dwelling (1101)
State Use : Residential (AB0)
Land Use: SFR

Is it possible that the reason they're trying to sell it is because of how it's zoned and it's illegal to have multiple families living there?

What would be the proper professional to consult about this? RE Lawyer?

Sheila, I agree with most points you make, but in my personal experience I've never seen a "guru" put down formal education. I've only been exposed to Rich Dad/Noveu Riche companies and both pretty much put it like this:

Formal past-high-school education is good and if you have an option to get at least a 4 year - do it. However, it is not a requirement to achieving wealth and getting it doesn't necessarily move you any closer to financial freedom.

Great write, Sheila!

According to what you say, I've been living extremely rich life :) Especially:

Living a rich life is laughing your *** off and crying your guts out.

I used to believe being a man means you cannot cry or show weakness. Now, even though I'll still hide it, I _love_ letting tears roll after an emotion movie, or when you wake up on Saturday and realize what an amazing week it was. My wife says she thinks it's very cute :)

Still, no matter how much I enjoy my life, I still have to spend most of my time at my 9-5. I would much rather spend that time with my family/friends/pursuing my passions. And for that, you do need money in the bank/real estate/whatever.

Great job!!!

I'm not going to go into definition of "rich" as I wrote a whole dissertation on it ;) http://www.passiveincomefrom0.com/2009/01/why-i-want-to-be-rich/

At the end of the day I think it all comes down to how much I disagree with the idea of 9 to 5. Mke and David - thank you both for your insight!

Truth be told I want financial independence not so that I can take a vacation, but so that I have the opportunity to pursue my passions without requiring them to feed my family...

Thank you for telling me what I needed to hear. Now the only question is - how fast can I get 40 rental properties. Only time will tell.

If that means 10 more years without vacation, then so be it.

I don't consider 2 weeks to be a vacation. I live by the rule work hard play hard.

Got my AS in Computer Science from a community college when I was 17. Started my own web development company and ran it for 2 years (it afforded me very fast cars :)). At 19, gave up my business (well I still have a few clients I support) to do full time contracting for major software companies near Seattle.

Now I'm 22 and the only thing on my mind is - how did I get tricked into this full time job BS?

I'm curious to know how many RE investors here achieved financial independance. I think that's #1 reason as to why I'm interested in the subject.

When I say financial independance, I don't mean you don't work all day. What I mean is if you chose to take a 1 year vacation, you would come back to find your house and your car still in your name.

Currently I have $4000 monthly expenses and $500 positive cash flow from my 9-5. Armed with that, lots of energy & motivation, an amazing relationship with my wife who's also very interested in the subject, and a powerful brain (I had median PhD income when I was 19 with a 2 year community college degree) - can someone honestly tell me if I have a shot at achieving financial independance in Real Estate within 2 years?

I know a "guru" will say I can do it in 2 months... as long as I buy the seminar package :mrgreen: .

What about you real RE investors? You think I got a shot?

I've been working for 5 years with longest break of 4 days when I was in the hospital. I think 1 year vacation is well deserved :mrgreen:

Thank you all for the insight.

I also read some Donald Trump books, which I didn't like nearly as much as Kiyosaki's. Looks like now is time to go out and meet people :)