What is possible?
- Thread starter Dirk
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Not in 5 years, that was never practical, unless you had bottomless pockets full of cash. Maybe 10 years is do able for the above average highly motivated business person.
As always it requires a keen business sense, the nerve to take major risks and a thorough understanding of the business environment.
Sufficient cash and a solid employment income is also a necessity.
This is not a business for the faint of heart or those without the understanding to know this is a tough business to get into and tougher to be successful in at the best of times.
It`s hard work.
One does not buy a building and watch the money roll in.
As always it requires a keen business sense, the nerve to take major risks and a thorough understanding of the business environment.
Sufficient cash and a solid employment income is also a necessity.
This is not a business for the faint of heart or those without the understanding to know this is a tough business to get into and tougher to be successful in at the best of times.
It`s hard work.
One does not buy a building and watch the money roll in.
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- 736
QUOTE (invst4profit @ Feb 4 2010, 09:35 PM) Not in 5 years, that was never practical, unless you had bottomless pockets full of cash. Maybe 10 years is do able for the above average highly motivated business person.
As always it requires a keen business sense, the nerve to take major risks and a thorough understanding of the business environment.
Sufficient cash and a solid employment income is also a necessity.
This is not a business for the faint of heart or those without the understanding to know this is a tough business to get into and tougher to be successful in at the best of times.
It`s hard work.
One does not buy a building and watch the money roll in.
If you say can`t your right. If you say you can your RIGHT.
We worked hard and have achieved it. Put the right team members in place and you will succeed. We do not have deep pockets and we where able to do what you have set out as your goal. (in a shorter time frame).
If you are not experienced in an area add someone that is.
Yes there is the reality of life and hard work but do not limit yourself, know what it takes to get it done and do it.
As always it requires a keen business sense, the nerve to take major risks and a thorough understanding of the business environment.
Sufficient cash and a solid employment income is also a necessity.
This is not a business for the faint of heart or those without the understanding to know this is a tough business to get into and tougher to be successful in at the best of times.
It`s hard work.
One does not buy a building and watch the money roll in.
If you say can`t your right. If you say you can your RIGHT.
We worked hard and have achieved it. Put the right team members in place and you will succeed. We do not have deep pockets and we where able to do what you have set out as your goal. (in a shorter time frame).
If you are not experienced in an area add someone that is.
Yes there is the reality of life and hard work but do not limit yourself, know what it takes to get it done and do it.
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- Aug 30, 2007
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- 13,879
QUOTE (Dirk @ Feb 4 2010, 06:14 PM)
With the"Tiger Woods" years over is it still possible to achieve such high figures as you read about in the R.E.I.N. testimonials ie. 5K passive in 5yrs starting out with minimal cash and experience?
possible: yes .. but unlikely in 5 years.
But in 10 years.
Use the first 5 to do a few good deals to prove a point. Then after year 3 or 4 or 5 invite other to participate. Then you can ramp up with other investor's money.
Are you firing on 2-3 cylinders as shown below ? Or the first at least .. then you will likely succeed. If you fail at item 1 .. you will likely also fail at real estate. It is another business : hard work, knowledge, cash + access to cash, good credit, good business demeanour, willingness to take calculated risks/actions, execution, follow-through, patience, a bit of luck, a great team .. all this takes time !
5 ways to make money http://myreinspace.com/public_forums/General_Discussion/61-3347-5_ways_to_make_money.html
How to get started http://myreinspace.com/public_forums/General_Discussion/61-4391-How_to_get_started_.html
With the"Tiger Woods" years over is it still possible to achieve such high figures as you read about in the R.E.I.N. testimonials ie. 5K passive in 5yrs starting out with minimal cash and experience?
possible: yes .. but unlikely in 5 years.
But in 10 years.
Use the first 5 to do a few good deals to prove a point. Then after year 3 or 4 or 5 invite other to participate. Then you can ramp up with other investor's money.
Are you firing on 2-3 cylinders as shown below ? Or the first at least .. then you will likely succeed. If you fail at item 1 .. you will likely also fail at real estate. It is another business : hard work, knowledge, cash + access to cash, good credit, good business demeanour, willingness to take calculated risks/actions, execution, follow-through, patience, a bit of luck, a great team .. all this takes time !
5 ways to make money http://myreinspace.com/public_forums/General_Discussion/61-3347-5_ways_to_make_money.html
How to get started http://myreinspace.com/public_forums/General_Discussion/61-4391-How_to_get_started_.html
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- Oct 22, 2007
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- 1,188
QUOTE (Dirk @ Feb 4 2010, 05:14 PM) With the"Tiger Woods" years over is it still possible to achieve such high figures as you read about in the R.E.I.N. testimonials ie. 5K passive in 5yrs starting out with minimal cash and experience?
If you want an overview how to start your investment career visit my blog (http://canadiandiversifiedinvestor.blogspot.com/) - at least as seen from my perspective. But there are more ways than one to skin a cat. In the end, though, money does not come easy no matter what you do, but with planning and good work it will come. There are many other blogs and postings on the forums where you can learn how to invest as well. (there was a post where many members listed their blogs a short while ago)
Build a solid financial base, build expertise and knowledge, make mistakes and build wealth.
If you want an overview how to start your investment career visit my blog (http://canadiandiversifiedinvestor.blogspot.com/) - at least as seen from my perspective. But there are more ways than one to skin a cat. In the end, though, money does not come easy no matter what you do, but with planning and good work it will come. There are many other blogs and postings on the forums where you can learn how to invest as well. (there was a post where many members listed their blogs a short while ago)
Build a solid financial base, build expertise and knowledge, make mistakes and build wealth.
- Joined
- Oct 27, 2009
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- 1,210
It took my wife and I closer to 10 years and we started after graduating from university with no money and $40K in student loans.
One of my friends did it in about 7 years (net worth of $2M at age 35 excluding primary residence; obviously not all invested for cash flow) from a similar starting point so I`m sure somebody out there has done it in 5.
As others have mentioned in this thread, achieving it in 5 years is not very common. Individuals I`ve met who have `made it` have a very strong ability to read and interpret financial statements.
One of my friends did it in about 7 years (net worth of $2M at age 35 excluding primary residence; obviously not all invested for cash flow) from a similar starting point so I`m sure somebody out there has done it in 5.
As others have mentioned in this thread, achieving it in 5 years is not very common. Individuals I`ve met who have `made it` have a very strong ability to read and interpret financial statements.