Originally posted by @Adam M.:
@Samir Shahani @Diane G. Why so quick to judge?? Maybe a little jealous? He was only talking about the first deal he did was $850/door.
@Richard Biechler Congrats! Sounds like you're a extremely hard worker and know how to hustle. Keep it up!
@Adam M
@Richard Biechler
I am able to judge quickly because I can easily smell the BS ...
First and foremost .. he said his 54 door, 2.64MM portfolio throws off 30k a month in profit.
Annual profit: $360,000 (30k x 12mo)
Estimated down payment: $528,000 (20% x 2.64MM)
That means you're telling me that with a $528,000 investment, Mr. Richard Biechler is able to generate $360,000/yr?
That's a 68% return every year not counting appreciation, loan paydown, tax benefits, etc, etc. ... you're basically Warren Buffett because if you add all those ROI factors in, you're above ~75% ... maybe even Warren would ask you to manage his money.
Now, to your second question ... if he has 54 doors and a $30,000 a month profit .. each door is roughly generating $555/month profit ... this is unheard of.
Christ, if this is all true, you can have my entire life savings, I'd love to see you earn 75% with my money ..
