what's your destination?

topic posted Sat, January 20, 2007 - 10:33 PM by  gertie
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reading another rich dad book..... he talks about how an investment is a VEHICLE. it's a tool that gets you from point A to point B. don't get hung up on your vehicle, start looking toward your destination.

good reminder!!

long-term destination: early retirement, and all sorts of fun things therein

vehicle: buying one more house this year than what i bought last year.
year 1>>bought 1 house
year 2>> bought 2 houses (one property has 2 houses on it, so i scored big this year with 3 units!)
year 3>>BUY 3 houses (i'm on year 3!)

at year 10, i'll have 55 houses (or units). if each house cashflows just $200, that's $11,000 a month passive income.

if each house is worth on average $250,000--the total value is almost 14 million. if each house is leveraged 80%.... then there's almost 3 million dollars in equity.

sometimes it's more fun to talk about the vehicle..... :)

tell us your destination and your current vehicle!

g
posted by:
gertie
Nevada
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  • Re: what's your destination?

    Sun, February 4, 2007 - 4:30 PM
    what's my destination?

    Financial Freedom to do what I wish to do. Preferrably sooner, rather than later.

    What does Financial Freedom look like for me? At a minimum it means freedom and ability to eat healthily; have a healthy environment to place my body in; have the ability to afford health care; have time to spend on family, friends, various spiritual practices, and on my legacy of open source software; have travel to friends and family and to various places in the world that attract me for many different reasons; the freedom to donate to the charity's that catch my attention and pull on my heart strings; freedom from fear of the inability to provide the above for myself or my family.

    vehicles to get there are being built slowly, some of the one's I'm exploring include....

    1) trading time/work for money (currently in the form of a part time job with a community college)
    2) trading time/work for food/housing (my currently living arrangement)
    3) lending out money [from my investment money] via prosper.com (thanks to someone on this tribe in fact)
    4) buying Treasury bonds with investment money that I've built up over the last year.
    5) exploring other investments to make with the little bit of money I've built up over the last year.
    6) I have the opportunity to go to Robert Allen's seminar on "no-money down" real estate investment in the next week and if my health holds I will go and check it out. It seems unlikely that I'll be able to use the info, however I'm willing to listen. I have two tickets to this if there is someone here in the Pacific Northwest [Seattle area] that would like to attend with me.
    7) I'm very alert to investment opportunities that I can take advantage of with the very small amount of money that I currently have available to me to invest.

    Thanks for the questions, gertie....Seems like you have a good plan in play...
    • Re: what's your destination?

      Mon, May 7, 2007 - 10:46 PM
      yes, the plan is going along swimmingly.

      i had the crazy idea on sunday to buy out the rest of a development. the builder keeps dropping the prices; but still no one buys. i have a house in the development, so every day they drop the price, my house falls. so, the only way to cure the problem: buy 'em out and put the prices back where they belong.

      i thought that i thought of this. and that it was crazy.

      i threw the idea at my mentor, looking to shock him. but no. he replied, "that's what i did in 1982 in fernley!"

      hilarious!!

      and now i'm reading "52 houses in 52 weeks."

      3 houses this year was seeming too easy. so why not make it a little more fun? hehehe.

      thank you for sharing! :)
      gertie

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