Whats your debt?

[firmechicano831]

okay I'm 27, and My BMW 750 I paid cash. The other one I owe:

BMW: 25K
House: 780k
House 2: 300k
House 3: 500k

Everything else is paid. But then again this is alot already.

[SVTMuscle*]

okay I'm 27, and My BMW 750 I paid cash. The other one I owe:

BMW: 25K
House: 780k
House 2: 300k
House 3: 500k

Everything else is paid. But then again this is alot already.

you have 3 houses......?

[THE_DOME]

okay I'm 27, and My BMW 750 I paid cash. The other one I owe:

BMW: 25K
House: 780k
House 2: 300k
House 3: 500k

Everything else is paid. But then again this is alot already.

how did you go about accuring this cash flow bro, thats some real cash for someone who is realitivily young

[SVTMuscle*]

how did you go about accuring this cash flow bro, thats some real cash for someone who is realitivily young

nevermind its usally pretty difficult to get a large size loan when there are already some taken out

[mwolffey]

when i get out of college it will be 100,000 + and thats for my undergrad...lol

[THE_DOME]

when i get out of college it will be 100,000 + and thats for my undergrad...lol

is this for tuition or also living expenses

[EcToMoRpHiAn]

As of today I am $140,000 in debt.

I am really really excited because our 10 day inspection period on my new house is over, and I got a $5,000 credit to fix the roof. We are closing escrow on the 31st of May and I can move in on the 1st. The house is split right down the middle between me and my dad, his half is for investment, and my half is so I can build equity at an early age.

I know it really isnt a big deal to some people, but I just turned 20 last week and currently own my own car, motorcycle and now a house, all of which I have paid for myself (mortgage on the house).

[firmechicano831]

well it's easy guys. After graduating from State in finance I went into real estate and sold alot of properties and bought some for my self. Now since I was making over 400k a year the bank would loan me any kind of money. To get what I have though took alot of time, sweet and giving alot of things up. Family, friends, and girlfriend; I guess you get used to making so much money that you get addicted and it becomes a high. When things go wrong all you think about is money; saying things like **** this or that and buy something big to try to hide that. It's still tought knowing that you are self employed and having to make and pay over 15k everymonth when no one knows what could happend tommorrow or next month. You just have to hustle every minute and day that you can even if you have leave so people behind that you love because you work to hard and don't see them at all. I have a beautiful custom house but only spent the nights there and thats it. Guys you just have to dream big and have people by your side that have the same dreams and goals that you have. I want to retire young and be a millionaire but in order to do that I'm going to have to leave some people that i love that don't share that same goal and dream as I do. That don't understand that money and nice things come from hard work and not the lotto.

[mwolffey]

is this for tuition or also living expenses

25,000 each year just for tuition plus living expenses around $10,000 a year

[SVTMuscle*]

well it's easy guys. After graduating from State in finance I went into real estate and sold alot of properties and bought some for my self. Now since I was making over 400k a year the bank would loan me any kind of money. To get what I have though took alot of time, sweet and giving alot of things up. Family, friends, and girlfriend; I guess you get used to making so much money that you get addicted and it becomes a high. When things go wrong all you think about is money; saying things like **** this or that and buy something big to try to hide that. It's still tought knowing that you are self employed and having to make and pay over 15k everymonth when no one knows what could happend tommorrow or next month. You just have to hustle every minute and day that you can even if you have leave so people behind that you love because you work to hard and don't see them at all. I have a beautiful custom house but only spent the nights there and thats it. Guys you just have to dream big and have people by your side that have the same dreams and goals that you have. I want to retire young and be a millionaire but in order to do that I'm going to have to leave some people that i love that don't share that same goal and dream as I do. That don't understand that money and nice things come from hard work and not the lotto.

jesus christ you make around 400k a year? i dunno whether to raise a bs flag or ask for a loan

[zimmy]

not hard to make 400k in real estate if you don't mind taking a risk adn working hard. Specially in some places like Cali where the housing market is marked up incredibly high.

[ManzNumero1]

95K and growing from interest rates on school loans . . sucks. next month i gotta start paying 6 hundred a month. . in 20 years the debt will be up to 145k. paying off for nothing i feel like. if anyone has any experience or advice on holding off loans or good consolidation co's please feel free to let me know if you get the time. thanks

[SVTMuscle*]

not hard to make 400k in real estate if you don't mind taking a risk adn working hard. Specially in some places like Cali where the housing market is marked up incredibly high.

that is actually true good for him

[firmechicano831]

Yeah I work in cali next to the ocean. Average houses here are about 750 to 800k minimum.

[BOUNCER]

None. I work three jobs because I'm hungry for money. I really don't owe a penny except my mortage and I'll pay that off in December. I'm pretty comfortable.

[juice4life]

I'm 20 and have over $20K in mutual funds and have 0 debt, and 1500 in my bank account . I busted my ass when I was younger and made some very wise choices. No help from anyone buy myself.

[THE_DOME]

what strategies to save money, is it just buckling down and not spending money on stupid shit

[RussianVodka]

14K for my car

[ProtienShak3]

not hard to make 400k in real estate if you don't mind taking a risk adn working hard. Specially in some places like Cali where the housing market is marked up incredibly high.

id have to disagree with that im in sales and make a pretty decent income however nothing like 400k a year ...

realestate isnt easy it takes a long time to build up to that level most realtors i know make 50 -60 k and work their asses off

this guy probably works 100 hrs a week and is the best of the best at what hes doing

[JDawg1536]

what strategies to save money, is it just buckling down and not spending money on stupid shit

Go buy the book Automatic Millionaire. Follow what he says, and you'll be fine. This book is great.

[thedoctordavo]

I'm 20 28k in debt on the new SUV but it's 100% tax right off so I don't count that. 260k in Mortgage but comps are 340k on the property so I don't count that. usually about 1500-2000 a month in CC but I pay that one off monthly and it's also a write off. So I don't really consider myself in debt. And I agree with the talk about real estate, thats my bussiness and I'm not complaining.

[firmechicano831]

I probably work about 10 hours a day and 7 days a week. But I also get Thanksgiving, Christmas and new years day off if that.

[THE_DOME]

Go buy the book Automatic Millionaire. Follow what he says, and you'll be fine. This book is great.

are you for real or is that a joke.
Its hard to detect sarcasm in text

[THE_DOME]

i found the book i will look into it thanks

[J-Dogg]

I’m 25

I am in the red ink pretty deep but it is all investments.

I too do real estate, not selling though I’ve only bought and sold privately. I actually dropped out of college because the way I see it every year you “do not” buy a house, it appreciates in value. So I figured the sooner the better and I never planned on using my accounting degree…it was just a tool to make the money necessary to purchase houses and invest in property.

I’ve been able to buy 4 houses so far, 3 are apartment complexes (8 units in all) and one is a house to repair/flip. Though I’m not located in Cali so my net worth is under a million still, in fact it is still under a quarter million.

I’m probably 250k in debt though

[firmechicano831]

That is good J-Dogg. You should have a goals in writting every year and follow them. My goal is to buy one house every year until I retire. Which hopefully it will be when im about 50-55 years old.

[thegodfather]

That is good J-Dogg. You should have a goals in writting every year and follow them. My goal is to buy one house every year until I retire. Which hopefully it will be when im about 50-55 years old.

I have similar goals as you..however...I would not be able to enjoy a paid for 750, and 3 houses, if I couldn't share it with the woman that I love..who happens to be sleeping on the bed right next to me...I understand making sacrafices, but I dont know about leaving people behind. I guess it comes down to personal choice, its just that Id like to have my cake and eat it too..

[JDawg1536]

are you for real or is that a joke.
Its hard to detect sarcasm in text

For real, EVERYONE should read it. Warning, it will make you sick when you realize all the money you've wasted/could have made.

[MatrixGuy]

okay I'm 27, and My BMW 750 I paid cash. The other one I owe:

BMW: 25K
House: 780k
House 2: 300k
House 3: 500k

Everything else is paid. But then again this is alot already.

Fuvk me bro. I'll be lucky if i ever own one house.

[spencer]

None. I work three jobs because I'm hungry for money. I really don't owe a penny except my mortage and I'll pay that off in December. I'm pretty comfortable.

what is a mortage??? lol.

you pulled me about spelling?

[bigbouncinballs]

just my house, besides that, i have been REAL lucky. i have friends i went to school with who have student loans close to $200,000, i couldnt imagine. the price of education has become insane for professional schools and even undergrad has become ridiculous

tell me about it! i start law school this fall at a private school, hello $100,000 debt!!!

[Diezed]

22 here, $10,000 for school but 0 cc debt.
buying a car next summer may be much more in debt by then

[G-1000]

Im not that in debt.

I owe 600 on credit card and like 15k on my truck. Other then that i dont have any. But after i buy my house i will have like 300k. But that is not debt.

[audis4]

when i get out of college it will be 100,000 + and thats for my undergrad...lol

me too. Actually thats what I would owe, thank goodness my undergrad and post grad are going to be written off!!

[CoreyTampa09]

Actually I think im in the + margin. Lets see if it works out...

Undergrad is 28k/year - scholarships 10/academic,8/baseball = 10k a year

No credit cards

No car, although im under my parents insurance I give them the money per month for it when Im home, plus gas, 1/2 car payment.

Made 15k over the course of the summer, winter vacation and a few weekends I flew home.

Spent 3k this summer and currently im sitting with 2k on my way back to school. Hopefully if things pan out, I will be able to pay for my undergrad each following year and come out with my bachelors and 10-15k in my savings account. Hopefully Ill have a few friends I can trust in the stock market by that time let them see what they can do with 5k turn it into a bit more and start investing while im working.

Yeah sounds like alot, but whats wrong with thinking just a bit down the road.