I closed a deal from a BP lead this year and paid for the whole trip.  

I just dont think it was pre meditated stealing. 

I borrowed $30k on a personal loan from Discover for 15% with no fees for a plot of land and paid "cash" for it.

They paid 3.7 million for this property at 29% occupancy. 

What is the point behind having paid off real estate, if you lose it later in life to oppressive taxes?

Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.

The only reason to look into franchises that flip houses or do renovations pre-sale is because you have existing business that you could leverage on top of this to add more clientele.

One insurance claim and it will pay for all the premium you paid in last 10 years most likely.

This tenant has always paid rent so there is no rent I am looking to collect at this time.

So far I’ve just been doing free posting, no paid marketing.