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  1. fastbo

    "Max Debt, Max Leverage!"

    INTRO 
    A lever operates in 2 directions. Leverage multiplies both your wins and losses. Lack of liquidity is a big problem in real estate because if you run out of cash, game over. Doesn't matter what your net worth is. The people who were able to make it through the best were able to convert their...
  2. fastbo

    How does open source make money? (if it does)

    Redhat Linux. Free to download. Millions use it and pay zero. Only thing the company sells is support/integrations. And they sell $2.4 Billion a year worth of it! Edit: Often with Enterprise software the initial purchase price is far less than the annual cost supporting the employee's...
  3. fastbo

    Previous $5M Successful business. Feeling it's not enough.

    MINDSET 
    What a good problem to have! The answer is going to be a philosophical one, and personal to what you want out of life. There is no end to hedonism. I watched a good youtube video about how relative wealth is. To a Billionaire, you as a multi millionaire, are a cockroach. A million dollars to a...
  4. fastbo

    Money System - What Are You Investing That's Getting 5% Return?

    HOT! INVESTING 
    You are doing things right if you're clearing 15% with management fee, expenses, and maintenance. The problem with most rentals are that one major thing, AC, roof, etc can wipe out your whole year's earnings. You can get a newer or rehabbed house, but that usually reduces your yield. There are...
  5. fastbo

    Made roughly 250k this year what can I do about taxes?

    TAXES | REGS 
    Welcome to entrepreneurship. When the billionaires - Bill Gates, Warren Buffet, Zuck all say they want to pay their fair share, they really mean they want us to pay their share and the 1%'s share. The list above never paid a dime on most of their wealth (which are unrealized capital gains), only...
  6. fastbo

    Entrepreneurship Anxiety

    HOT! MINDSET 
    You should pick up meditating or other calming activities. When you say to yourself "I get anxious" ask yourself "What are you anxious about?" Most people who say they're anxious, worried, stressed, as a "thing" happening to them really need to figure out what they're anxious, worried, and...
  7. fastbo

    WTF does Tai Lopez do?

    GURUS 
    Hey guys thanks for participating in this thread. You've got it ranked page 2 on Google for keyword "Tai Lopez"! I was doing some research about Tai Lopez, mainly his business model and Youtube, and stumbled on this forum. Next thing I know, I've read both MJ's books and Mind=Blown.
  8. fastbo

    2.5 years job free, but violating many TMF principals.

    INTRO 
    No kidding, your post was highly polished and very well communicated. You have serious communication capabilities. That's an advantage over many people. Put that behind a compelling message and a product and you'll sell... Doing what you've done on Amazon is better than the 99% of the...
  9. fastbo

    What do you think the impact of self driving cars will be?

    HOT! 
    Working in the trucking or driving industry is like working for Blockbuster Video a decade ago, or for Kodak 2 decades ago... entire industries will be changed, and new ones created, but overall nobody is upset at Netflix for killing Blockbuster
  10. fastbo

    What do you think the impact of self driving cars will be?

    HOT! 
    Automation is going to reduce costs and increase standard of living. What is automation essentially? It's cheap labor. If you reduced minimum wage to 20 cents an hour and people HAD to work, what would happen? Cost of goods and services would plummet, and people could buy more. You forget...
  11. fastbo

    My epiphany into the fastlane

    INTRO 
    Yomanu, Welcome to the forum. Like most of us here, TFM was a waking up moment. If you liked what you read, read MJ's new book Unscripted. TFM is choosing to take the red pill. Unscripted is the rest of the story - how to find opportunity, how to execute, what to avoid - like faking it, not...
  12. fastbo

    Finally found a mountain to start my fastlane journey, Stocks

    EXECUTION 
    Ok you guys are right, it's not *technically* a zero sum game because people don't cash out after each trade, but the point is that for me to make $1 there has to be another sucker willing to give up that extra $1. There are no gains without another sucker anteing in. The reason the stock market...
  13. fastbo

    I've Read UNSCRIPTED!

    GOLD! HOT! 
    Just finished yesterday
  14. fastbo

    I've Read The Millionaire Fastlane!

    GOLD! HOT! 
    Read the book!
  15. fastbo

    Mark Zucks Harvard speech

    EXECUTION 
    1. He built a 6 foot wall around his Hawaiian property and tried to sue to terminate the rights of native Hawaiians from their shared ancestral lands. Gave up after backlash. In CA spent $30m buying all his neighbors properties to create a buffer zone around his house. The rules only apply to...
  16. fastbo

    Why you should avoid Peer to Peer lending like the plague and how to earn 8-10% with collateral

    INVESTING 
    Honest opinion about P2P lending? I think the lenders have no clue what they're doing and undervalue risk. The platforms don't care because they only get paid when they originate loans. They win if the borrower pays and they win if the borrower defaults. They're the house at Vegas. If you can...
  17. fastbo

    Private Money Lending & Wealth Preservation

    It's all about networking. It's like MJ says, there aint no list. Market rates are 12% with 2-5 points. If there were a directory or source of 9% hard money lenders, they'd run out of money to lend like tomorrow. Supply & demand. If you want to get lower than market rates, add value. You need to...
  18. fastbo

    Why you should avoid Peer to Peer lending like the plague and how to earn 8-10% with collateral

    INVESTING 
    New member here but in the finance industry so I'd like to share some knowledge... Myths I can reduce my risk by lending only $25 at a time - Yes and no. There's 2 types of risks we're dealing with, Portfolio Risk and Default Risk. Portfolio risk is the risk that you are diversified too...
  19. fastbo

    What if you don't need to be a millionaire?

    HOT! 
    This hits home. The point of being 'wealthy' is to have income > expenses permanently. MJ has reduced his expenses to $1400/mo, so he could be one of the few who could actually retire nicely on Social Security income. If you're making $80-100k a year off multiple streams - there are plenty of...
  20. fastbo

    Flipping cars, appliances, and other assets.

    NOTABLE! SIDE HUSTLE 
    Another point to make is that with arbitrage, you're always trading for pennies. Unless you can scale it ridiculously, you'll always be capped by your time. Its trading dollars for hours. Now if you were the guy trading 200 washers and dryers in one phone call and not physically picking it up...

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