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  1. fastbo

    Lending Club Investing: Good Passive Income Source? (Answer: NO)

    NOTABLE! INVESTING 
    Be careful ... I got into Prosper.com back when they were new. Maybe 06-08? I ended up losing 75% of my investment even though I invested in B or A or higher paper. Turns out, most borrowers were scammers. They'd file BK, know how to grab a few credit cards and earn a 650 credit score. You have...
  2. fastbo

    Flipping cars, appliances, and other assets.

    NOTABLE! SIDE HUSTLE 
    +1. Lots of people think entrepreneurship = flipping. I didn't truly realize this fact for years. I've flipped since I was a teenager, lining up for Black Friday before people knew there was such a thing. Yes I could show up at 8am at (pick your store) and be one of the first ones in. I made a...
  3. fastbo

    TAMPA BAY, FL Fastlane Meetup

    MEETUPS 
    is the next meetup planned yet?
  4. fastbo

    Source for an Industry's Avg. Valuation Multiplier (for Selling a Business)?

    EXECUTION 
    They do seem to vary from 4x to 12x over those free lists for the same industries. 4x EBITDA doesn't seem worth the effort. But 12x... that's a game changer.
  5. fastbo

    College dropout - From Fastlane to Slowlane to Fastlane again

    SLOWLANE INTRO 
    You can get in now. The mortgage business is hot right now. Wasn't always. But the money is flowing, the brokers are getting drunk off the commissions. There's so many supporting industries and vendors for the mortgage business that you can find a fast lane exit to branch off of and create your...
  6. fastbo

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

    HOT! INVESTING 
    #1 yes, sort of. These are existing loans. We buy the loans from the originator. Like when you get a letter from your bank saying they've sold the loan. similar to that. #2 yes #3 if you do things right in the acquisitions stage, there really is no risk. not without a systematic collapse of real...
  7. fastbo

    Finally found a mountain to start my fastlane journey, Stocks

    EXECUTION 
    Bro you being up 25% over a couple weeks is like being $1000 up at a casino at 2am. By 8am you've lost it all and overdrawn your credit card by another $1,000 Warren Buffet has a 50 year track record of 21.6% annualized returns and he's one of the greatest stock market investors in history. Yet...
  8. fastbo

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

    HOT! INVESTING 
    Network with the IRA crowd. A lot of self directed IRAs will put on meetings for investors. See if you could go or sponsor an event. Otherwise it's mostly networking. Your 9% guy is well below market. He is out of cash either because he's below market and word got out he's lending at 9% or he...
  9. fastbo

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

    HOT! INVESTING 
    Landlord for residential homes is not passive income. It's a full time job managing sidewalkers and their problems. I'm in real estate finance, particularly existing mortgages. I consider a low return a 10% yield secured by a property with 50-60% loan to value ratio... meaning $50k-60k loan on...
  10. fastbo

    Private Money Lending & Wealth Preservation

    I'm in this industry and most private lending is for rehabbers or investors (buy and hold landlords). Dodd Frank doesn't apply to those transactions, nor does it to raw land. Private lending can still be done to individuals but must comply with certain rules and be originated by a MLO (mortgage...
  11. fastbo

    Office Hacking - How I get a "free" office and an asset

    REAL ESTATE 
    Great job! I bought my first office building for my ecom business... same as you, grossed about $2400/mo. Banks love lending to owner occupied buildings .... if you can get to 50%+ owner occupied you can often get similar rates to home loans. You should also get significant capital appreciation...
  12. fastbo

    Does it make sense to drop out of college to become a real estate agent?

    REAL ESTATE 
    No! Read stats about agents... most never do more than 4 deals a year. Majority of them quit within a year. It's not really an "opportunity". You can take a 4-6 week class and a half dozen agencies will hire and train you. You don't have to apply and be chosen... just take the class, pass the...
  13. fastbo

    College dropout - From Fastlane to Slowlane to Fastlane again

    SLOWLANE INTRO 
    So I dropped out of college to enter the fastlane. My first year in ecom back in 2000 I made $400k. I was 21 years old. And yes, like MJ I bought a Dodge Viper. I didn't know what I was doing and certainly didn't understand how to continually innovate and add customer value. The barriers to...
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