Results 1 to 13 of 13

Thread: Investing for early retirement - the legit way.

  1. #1
    Member
    Joined
    Mar 2012
    Posts
    11
    Thanks
    0
    Thanked 2 Times in 2 Posts
    My Mood
    Inspired

    Exclamation Investing for early retirement - the legit way.

    Ok I am new to the site so a bit about me first..then I'll get into the good stuff!

    My name is Dustin, I am 24 year old ex dancer from central NC (Greensboro area) and I got out of dancing after I got hit by an SUV which did kinda mess my back up a bit (enough to be too sore to try dancing as a career again, at least) so now I just wait tables and continue to buy rental properties - I've been investing since about 18, I've always been pretty good at it but more lately have taken a more serious role with things, I've some experience in stocks, but never recommend them to people.

    Due to the nature of the economic system we currently are in, the recent actions of governments, politicians, and the federal reserve - It's safe to expect a lot of inflation in the future (worse than normal) and that said - it's best to 'hedge' against inflation, not 'save' money.

    If you have cash sitting in a bank account - inflation is eating away at your money, making it less valuable each day.

    So - if your a 'saver' buy gold and silver bullion coins - (not the 'numismatic' collectible stuff) buy the actual spot price coins (they may be 1-2 % over spot price, but thats it!) I recommend gainesvillecoins.com for these, but many such sites exist, shop around. Gold and Silver are inflation proof.

    If your an investor wanting to turn your high income dancing or webcam job into long-term passive income flow that keeps paying you everyday for the rest of your life, I recommend beyond anything else Rental Properties - and here are some reasons why:

    Properties are a store of value - like gold and silver, they will always be worth something (Yes, property places have dropped recently due to the housing bubble and market manipulation - and may do so again, but rental owners dont care about selling the properties, we want the passive income!) Sure, you can buy a house for 20grand, hope to sell it for 40 one day, and lose half of that gain to taxes...

    Or you can buy it for 20 grand, and make 300,000+ on it over the course of your lifetime (and then your children inherit it) Which do you think is better? By the way, passive income is pretty easy to avoid paying such high taxes on!

    Currently housing prices are down, making it an easy time to buy, and because banks don't like to loan on them and people are in such bad places right now financially - most people can't buy a house. What does this mean for you? A double whammy of profit - You can buy em cheap, rent em high!

    Furthermore - you don't really NEED to deal with people, say you don't wanna have to deal with tenants, repairs, etc. Just use a property manager, move to the beach, and pat yourself on the back and smile smugly because you will never have to work again.

    6 houses (paid off) will allow you to retire an live an average life, as a rule of thumb. - You probably want more because you may have expensive or above average tastes or ambitions - but lets say you just never wanna work again and 'average' income is good for you.

    For each, lets say, 10,000 you put as a down payment, you can safely assume you can find a basic house in a rentable area (and finance or owner finance the remaining amount over 10, 20, 30 years) How long does it take you to make 10,000? Hell, probably 1-2 months tops.

    So every 1-2 months you can buy another rental property at least. Thats 12 in your first year - then they will be paying themselves off and you can buy more (or you can pay them down even faster and get them paid off over the next 1-2 years) then your done!

    Some GREAT sources of information for investment oriented folks are below:

    Youtube videos - search for 'the new rules of money' by robert kiyosaki - this basic 7 video series (about 30minutes total) will introduce you to some sound and simple economic principals.

    Inflation.us is also a great website (dont buy their stocks, stocks are worthless in this economy, and you don't need to take risk, you can have it as a sure thing) go to the videos section and check out Meltup and if you think school is a good investment, check out 'college conspiracy' as well (if you cant find it, google it and check out the documentary websites and you'll find a working copy)

    Between these videos, you have a working knowledge of investment strategies and are ready to retire early...for more advanced learning, I recommend Zeitgeistmovie.com and check out the video Zeitgeist: addendum - which discusses inflation and how it affects you during the first segment of this video

    If however you decide you don't wanna deal with the stress of trying to find a good deal, Drop me a line at Xanatos (at) triad.rr.com and ask any questions you'd like, or feel free to apply here.

    It not only works, but I am doing it myself off waiting tables - I just wish I could make 500 a night! But I am always looking for investment partners who have the capital (cash) to go with my brains and investment skills, I have no problem advising people on how to do it without getting anything in return, but if you decide you want to forgo the hassle of learning these things yourself, finding your own deals, etc. Feel free to chat with me on partnering up! I am great at finding deals (have a few waiting on me actually already) and I can do the manual/leg work!

    I hope everyone enjoys this thread, please leave feedback and any questions, comments, or requests!

    I am well versed in many forms of investments, and welcome any questions on anything even if its not related to rental properties!

    Happy early retirement and fabulous life!

    Dustin

  2. The Following User Says Thank You to Xanatosnemos For This Useful Post:


  3. #2
    Moderator unbeleavable's Avatar
    Joined
    Jan 2006
    Location
    Atl
    Posts
    3,429
    Thanks
    4,881
    Thanked 2,349 Times in 1,220 Posts

    Default Re: Investing for early retirement - the legit way.

    So from what I can gather from this...you are looking for investors? & from what I know of You...You are looking for someone to help you start a CAM site so You could make money? & I've never posted in here Mel, but saw someone you should know!

  4. #3
    Member
    Joined
    Mar 2012
    Posts
    11
    Thanks
    0
    Thanked 2 Times in 2 Posts
    My Mood
    Inspired

    Default Re: Investing for early retirement - the legit way.

    I welcome partners, but like I said above (did you read my post?) My advice is free and without strings, I like investing, I like talking about investing, I like helping people invest, and sometimes people decide they want to invest with me. If you help enough people get what they want in life, you are bound to get what you want as well.

  5. #4
    Moderator unbeleavable's Avatar
    Joined
    Jan 2006
    Location
    Atl
    Posts
    3,429
    Thanks
    4,881
    Thanked 2,349 Times in 1,220 Posts

    Default Re: Investing for early retirement - the legit way.

    I know...see me

  6. #5
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: Investing for early retirement - the legit way.

    I've never posted in here Mel, but saw someone you should know!
    hmmmm ... indeed ! ( . ) ( . )


    Due to the nature of the economic system we currently are in, the recent actions of governments, politicians, and the federal reserve - It's safe to expect a lot of inflation in the future (worse than normal) and that said - it's best to 'hedge' against inflation, not 'save' money.

    If you have cash sitting in a bank account - inflation is eating away at your money, making it less valuable each day.

    So - if your a 'saver' buy gold and silver bullion coins - (not the 'numismatic' collectible stuff) buy the actual spot price coins (they may be 1-2 % over spot price, but thats it!) I recommend gainesvillecoins.com for these, but many such sites exist, shop around. Gold and Silver are inflation proof.
    no argument from me on this point ... within reason !


    I recommend beyond anything else Rental Properties
    While I'm not totally negative in regard to rental property investment, there are indeed a ton of variables and a ton of potential risks ...

    - rising property taxes
    - rising insurance costs ( particularly so in certain urban areas )
    - potential losses from rapid tenant 'turnover'
    - potential losses from tenant bankruptcies
    - potential losses from future gov't rent 'freezes'
    - potential losses from future gov't mandated property improvements
    - proposed tax law changes affecting rental income
    - eminent domain risk
    - falling on the 'wrong side' of capital equipment lifespans / failures

    Admittedly I'm a bit gunshy on the topic of rental properties after seeing some NYC landlords take a major 'screwing'.


    If I were still Dollar Den moderator I would be obliged to comment that solicitation / touting of particular investments in Dollar Den is a no-no.


    In the way of personal comment, I would point out that the single best means for Americans to 'preserve wealth' tomorrow is to get at least some of their US dollars converted into a different currency and deposited in a non-US bank today !!!


    And in the way of a second personal comment, I wouldn't over-commit to physical gold and silver because the past has a way of repeating itself ( a la FDR in 1933 )
    Last edited by Melonie; 03-11-2012 at 01:26 AM.

  7. #6
    God/dess cherryblossomsinspring's Avatar
    Joined
    Nov 2010
    Posts
    3,244
    Thanks
    2,454
    Thanked 4,800 Times in 1,707 Posts
    My Mood
    Angelic

    Default Re: Investing for early retirement - the legit way.

    Well looks like you made some posts. Bravo. I specifically told you that you should FIRST apologize to the people you insulted in chat and I quote" I forget the type of person I am talking to, I figured strippers online would be smarter than strippers in person." This obviously got you kicked out of chat.


    You first stated you were looking to find out how much cam models make because you have friends (dancers) that may be interested in camming. You went down a list in the chat asking questions on how much they make , hours etc. It was a bit much for a first introduction.


    Then after I pm'd you to tell you to apologize, you seemed to state something about networking and wanting to talk with investors saying that many dancers don't know what to do with their money ( invest). You provided your email and I think I told you that you need to be involved with the community before trying to sell them on an idea. Most will talk to you here but emailing some guy with a DREAM? Response may be slow on that front.


    The information you posted is quite informative. I've seen the Zeigiest series of movies so I understand where you're coming from there. However the finals of the Ziegeist movement is to turn our world into some type of utopia where all are equal. All put in to the whole similar to a socialist society.


    Unfortunately we live in a capitalist society where many will do without and the rich prevail. Perhaps in the future things can change, and with the resources of this world no one should ever go hungry. With that said I'd like to move to the rental property discussion


    Rental property is great and I do know people that flip properties and turn a profit. They probably had better luck with this about 5 years ago but obviously it's harder now. Plus maintenance, damage caused by tenants, court issues where tenants don't pay, bankruptcies etc. It could become more of a loss than a benefit. I do understand the benefits of this still and many are doing this now. Melonie provides alot of information to this board so you're probably about a few years late with your information. Still it's a good read.


    Now you were a male dancer at one point, what did you do with your money when you made it? Did you invest? Did you even think of investing? And if someone came along and asked you to invest would you have?


    Now maybe you don't make $500 a day waiting tables but there are many male cam performers that still bust their ass on cam. I have no idea how you're able to stand on your feet all day with heavy plates of food with a back injury. I don't know, was this story supposed to make a connection to the female dancers here to gain their trust? Maybe but who knows. The benefits with camming is that you can find a comfy chair and lay your back against it and go to town on your lower half. Correct me if I'm wrong , but I don't think your sex life is suffering due to this back injury right? So If you want to see how camming works I suggest you do it yourself. Then invest your own money to make your dreams happen. You could even become an affiliate and make money that way in your spare time. Many sites even outside the adult industry share 50% of profits and in some cases $100 per sign up. You may want to look into those opportunities yourself.


    Gold and Silver: I've been invited to a few gold parties. They seem all well and good but I have a feeling that gold could become worthless some day. Maybe I just watched too many old b&w twilight zone episodes but it has value because we think it's valuable. Yes it's hard to destroy and it's rare but still if we got pushed to a dire time where water was depleted , wouldn't water than be the new gold standard? See my point?


    Also most in the industry don't really have the time to " look into " ways to spend their money (invest). Generally that's the old age problem. You either have time and no money or you have money and no time ( like most of the adult industry professionals here).


    Investors for your cam site start up: There are a few that have come here and tried the " invest in me" and I'll will make this for you. Unfortunately big talkers generally don't have alot of their own money but have no problems taking yours. If you feel so strongly then I first suggest you to start out as a cam model on sites. See exactly what the business entails from a performers prospective. That way you'll understand the inner workings on that front. Then after about 6 months try getting into marketing and affiliate work. See how easy it is to bring paying traffic to a site. Then get into dealing with payment processors , maybe even start up your own indy site. Try and see how much percentage you can offer your models without taking too much and still being able to cover all expenses.


    Also you may want to talk to a few of the site owners that started up sites and failed. Find out what they did wrong, what they did right. Or perhaps you can even create a campaign for struggling sites that have issues with retaining or obtaining traffic.


    ^These are all suggestions and yes I think I told you that most are not going to contact a random guy that talks a good talk. That's why I suggested TO READ SOME THREADS respond to threads. See who you're dealing with , get to understand where they're coming from before you throw that email out there. Obviously you're slightly impatient which comes across as desperation. I'm not trying to give you a hard time but I said take a step back before you rush in with your dreams and wishes that you want someone else to pay for. Pushing your agenda is not the way to go which is something I saw in BOTM's post. She was looking for immediate assistance not your 3yr plan.


    Ohh and the " helping people ends up coming back to me later". Well the true purpose behind that comment is that you're supposed to help WITHOUT expecting anything in return. If you're set in your mind that you have an expected return that you're waiting for , you will become bitter when it doesn't happen. That's why the attitude in the chat turned nasty when you couldn't get the responses you were hoping for. If you were so in the mood to just help, then you wouldn't have felt attacked. See what I'm getting at? The only time someone gets pissed off when they are supposedly helping is when they are not getting what they want.


    Anyways, welcome to the site and I hope you enjoy learning the business from the ground up or should I say "waist down".

  8. The Following 2 Users Say Thank You to cherryblossomsinspring For This Useful Post:


  9. #7
    Member
    Joined
    Mar 2012
    Posts
    11
    Thanks
    0
    Thanked 2 Times in 2 Posts
    My Mood
    Inspired

    Default Re: Investing for early retirement - the legit way.

    I never said rental properties were without risk, however, generally speaking - you account for repair costs, vacancies, etc in the monthly expenses - this is called operating expense.

    A rule of thumb on properties in my experience is it takes about half a properties rent income to cover operating expenses - the rest is yours to keep.

    If a property makes 10,000 a year, you would be safe to assume (in my area at least, always do the numbers for your own first) that 5,000 is a decent max (estimate) for operating costs.

    some years it may be 15, cause you need a new roof, electrical etc. but thats unusual, some years it may be 0.

    I would never recommend flipping properties - theres no point, You can make 10x more renting them than selling them, and the capital gains tax will hit you.

    In response to melonie on taxes - all taxes will be going up, not just rental taxes.

    Also - all 'fiat' currencies will be dying at about an equal rate - doesn't matter what currency you turn your dollars into, they will be losing value to inflation. Gold/silver is the best place to hedge inflation with 0 risk, if your a saver.

    I did invest my own money, and still do - thats how I got where I am so far.

    In response to your concerns over gold/silver - one could argue that gold is valued only because we give it value - but people will always give rare things value, regardless of whether or not its useful. Silver on the other hand (my recommendation over gold any day) has industrial uses, health uses, technological uses, etc. It is a widely used metal we have used up over 90% of the worlds silver reserves. Theres actually more gold available than silver. But people are hoarding the gold.

    I am not interested in owning, running, or profiting from cam sites - I already told you this, when I left chat because of the rude behavior/reception I received there. I am merely asking some questions to relay to friends, I dont want to get involved with another project, I have too much on my plate as it is. I would really appreciate it if you wouldn't make assumptions about my intentions. So far your the only person who was in that chatroom that was polite and had some intelligence.

    Furthermore Cherry - I gave her assistance, I told her exactly how to go about fixing her credit /building it as fast as possible, then I recommended why credit isn't really needed


    I am not here to make you my friend, I am simply here to post, network, and chat. If I make friends, great (already have) If I help people out, awesome (already have) and if people decide they want to invest with me specifically, wonderful! If not, I'll always be available to answer questions and help people out as best as I can. As I've already said at least once in my posts - my help is free, with no strings attached.

    Oh, the reason I got upset in chat and left the chatroom is because the rude people who were asking me 2nd grade questions - the stupidity of which made me cringe in sorrow that I was unfortunate enough to live in a world of such ignorance. You had some intelligent answers, and I appreciate that - but the others there were rude, hostile, and condescending. I will not apologize to them and if thats a problem for you, I guess you'll have to live with it.

  10. #8
    Veteran Member
    Joined
    Dec 2010
    Posts
    571
    Thanks
    107
    Thanked 445 Times in 203 Posts

    Default Re: Investing for early retirement - the legit way.

    I do rentals, rent to own, and some flips. Rentals work only if your formula is something like:

    rent - 30% for maintenance and vacancy (a pad) - 10% management fee (even if self managed) -$100/month/unit in profit - all landlord hard costs= gross profit

    gross profit will define your mortgage payment. THIS AND ONLY THIS tell you the value of the property. At a 20 year loan 6.5% (even if you buy cash, your money is worth something) will be about $8-9 per thousand. So a $180 monthly gross will result in an offer on the property of $20,000 if it is ready to rent.

    In some markets you can't do this. IN those markets, you should look into buying tax leins or deeds (in any state). To not live the above rule means when you have vacancy or need a roof/furnace/water heater you will be S.O.L.

    PM me for more info

  11. #9
    Member
    Joined
    Mar 2012
    Posts
    11
    Thanks
    0
    Thanked 2 Times in 2 Posts
    My Mood
    Inspired

    Default Re: Investing for early retirement - the legit way.

    I actually recommend a different formula entirely - and perhaps both work (everyone has their own preferences) mine is as follows:

    *Note* I will mention I never do anything for less than 200 cashflow on a property, and that is with me buying with financing and as little money out of pocket as possible - I prefer to pay 0 down and let the renters pay my mortgage and still have money left over.


    The Formula for Offering:


    Determine the Income:

    Actual Income: - total income from past 12 months. - Verify with Unit Mix and Rent schedule tables AND the Rent Rolls

    include move in dates on leases and rent roll information as well as a property managers expert opinion on average vacancy rate on like properties in area to estimate average vacancy rate for this property

    Actual Potential Income: - Total income for past 12 months had it stayed 100% occupied and used all other income potentials

    Future Potential Income: - the total income the propery could generate at today's rates, 100% occupancy, and taking advantage of all other income potentials.





    Seller Pro Forma Prior Year Actuals My Projected

    Gross Scheduled Rent

    Less: Vacancy %

    Net Rental Income

    Plus Other Income (if any)

    Total Income

    Determine the Expenses:

    Per Unit Seller ProForma Prior Year Actuals
    Repairs/Maintenance:
    (on average goes up each year)
    Utilities
    (typically standard rate increase,
    find out from utility company)
    Real Estate Taxes
    (County Assessor site - Next years estimates)
    Insurance
    (have multiple agents bid on this)
    Replacement Reserve
    Walk property to see this one
    Total Expenses


    Determine the Net Operating Income:


    Seller Pro Forma Prior Year Actuals My Projected
    Income Total
    (Less) Expense Total
    Net Operating Income(cashflow for year)

    Determine the Capitalizaton Rate and Valuation:

    Capitalization Rate = Net Operating Income Devided by Purchase Price
    Purchase Price is based on trends for comparable building in your market area

    Property Value and my Offer Price = NOI devided by Capitalization Rate

  12. #10
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: Investing for early retirement - the legit way.

    ^^^ while such projected ROI calculations have worked fairly well in the past, be aware that there are now increased future risks over the life of the mortgage necessary to purchase the rental property which could substantially change the ROI equation ...

    LARGE property tax increases
    new state and local laws increasing renter's rights ( = more rent unpaid months trying to evict delinquent tenants )
    new state and local laws mandating building improvements ( how much does a handicapped elevator cost ... $100k ? )
    unprecedented 'damage' potential ( how much does it cost to replace copper wiring / plumbing ripped out for its scrap value ? )
    GREATLY increased insurance premiums

    Like 401k's / IRA's, variable annuities etc. I have serious problems committing to any long term financial deal these days when the 'rules' are subject to change at any time in the future.

  13. #11
    Member
    Joined
    Mar 2012
    Posts
    11
    Thanks
    0
    Thanked 2 Times in 2 Posts
    My Mood
    Inspired

    Default Re: Investing for early retirement - the legit way.

    Melonie makes legitimate points - However, I would caution agains't allowing uncertainty to cause inaction - investing in rental properties and seeing tax hikes is still better than not investing at all.

    I enjoy reading your comments and responses Melonie, You seem pretty sharp, I thought you might like this as well.



    let me know your thoughts

  14. #12
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: Investing for early retirement - the legit way.

    Tyler Durden sums this up reasonably well ...

  15. #13
    Member
    Joined
    Mar 2012
    Posts
    11
    Thanks
    0
    Thanked 2 Times in 2 Posts
    My Mood
    Inspired

    Default Re: Investing for early retirement - the legit way.

    an interesting read

Similar Threads

  1. Howcool.com: legit?
    By Lola_sinn in forum Stripping (was Stripping General)
    Replies: 6
    Last Post: 07-17-2015, 08:31 PM
  2. Is this legit?
    By EvilChick1989 in forum Camming Connection
    Replies: 43
    Last Post: 03-02-2013, 11:35 AM
  3. When is it too early to get botox? or is it every too early??
    By miss1dancypants in forum Body Business
    Replies: 28
    Last Post: 05-09-2011, 04:47 PM
  4. Replies: 2
    Last Post: 01-21-2006, 01:11 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •