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Wealth Through Real Estate
Thanks for explaining that. I've read about the 1% rule before, but never really took the time to understand the assumptions behind it.- Rawseed
- Post #11
- Forum: Ideas, Concept Feedback
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Wealth Through Real Estate
On a $300,000, I need to have a monthly NOI of $1,500 to get an unleveraged COC of 6%. Assuming 33% operating expenses, that's a rent of $2,250 a month. Assuming 50% operating expenses, that's a rent of $3,000 a month. So, to use the 'all powerful real estate leverage', my rents need to be...- Rawseed
- Post #10
- Forum: Ideas, Concept Feedback
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Wealth Through Real Estate
That's the exact point. You obviously understand RE Investing much more than a novice. It's only good leverage if your unleveraged COC return is greater than the loan rate. That's a big IF. How many novice investors actually do this basic calculation. I call it basic because IRR is a better...- Rawseed
- Post #9
- Forum: Ideas, Concept Feedback
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Rejected from UNI: My parents affecting my life choices
GOLD! PEOPLEI have three university degrees. And, I earn a great living working as an employee. But, I'm now very anti-degree. I recommend you get a job or an apprenticeship where you can learn some skills and/or get some domain experience. First, learn how to learn. Then learn as much as possible...- Rawseed
- Post #11
- Forum: Managing People, Relationships
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Wealth Through Real Estate
Every time I get bitten by the real estate bug, I read an article like this: https://seekingalpha.com/article/4258212-rentals-vs-reits-detailed-study-pros-cons-average-investor Then I get back to brainstorming ideas for a productocracy.- Rawseed
- Post #7
- Forum: Ideas, Concept Feedback
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Wealth Through Real Estate
People always say this, but it's not really true because the debt produces anti-leverage. Unless you're running some kind of real estate syndication, you aren't really using a lot of leverage. Most RE Investors are getting 15% ROI. Great RE Investors are getting 20% ROI. Again, I'm not...- Rawseed
- Post #6
- Forum: Ideas, Concept Feedback
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Thinking Fast and Slow, by Daniel Kahneman (Book Review/Discussion)
@ChrisV, you're right. Ray Dalio has used data science and computer algorithms to become one of the wealthiest men in the world. Peter Thiel, amongst others, is also very bullish on using data science to eliminate subjectivity from human decision making.- Rawseed
- Post #18
- Forum: Books and Educating Yourself
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Thinking Fast and Slow, by Daniel Kahneman (Book Review/Discussion)
Rating: :star: :star: :star: :star: :star: Format: Audiobook (once) and Paperback (multiple times) Favorite part: I love the fact that this book presents clear scientific evidence that all humans are irrational. People don't think. We are emotional creatures that use pseudo-logic to...- Rawseed
- Post #17
- Forum: Books and Educating Yourself
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Thinking Fast and Slow, by Daniel Kahneman (Book Review/Discussion)
@Koen_88 and @ChrisV Anytime I try to convince people that they can't trust their mind, I show them the Invisible Gorilla video and this video below: View: https://www.youtube.com/watch?v=G-lN8vWm3m0 We are truly incapable of seeing reality for what it is.- Rawseed
- Post #15
- Forum: Books and Educating Yourself
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Advice on bootstrapping an invention?
SIDE HUSTLEYou don't need to tell them what your product is because they don't really care about your product. They only care about their problem. You need to find out if the problem you're solving is really a problem for them. And if it really is a problem for them: How big a problem is it? Why is it...- Rawseed
- Post #5
- Forum: Side Hustles, Freelancing, Web Design
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Advice on bootstrapping an invention?
SIDE HUSTLEI think you should focus on the above two questions first. Also read One Simple Idea by Stephen Key- Rawseed
- Post #2
- Forum: Side Hustles, Freelancing, Web Design
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Quick Questions for you from aspiring entreprenuer
HEALTHThere's nothing wrong with "fishing for info". We all do it. We're entrepreneurs. But, his bait was a little too "fishy". We're entrepreneurs and all entrepreneurs are marketers and persuaders. Here's what @Malleren could have done. He could have done an Intro thread where he introduced...- Rawseed
- Post #11
- Forum: Health and Fitness
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Quick Questions for you from aspiring entreprenuer
HEALTHGive, give, give, give. Then give some more. Then ask.- Rawseed
- Post #9
- Forum: Health and Fitness
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The Undercover Billionaire: Building a $1m business in 90 days
HOT! MINDSETEpisode 6 had more drama than it had lessons. But, there were still helpful takeaways: Don't pigeon hole your players Figure out all of the talents and skills of your team members Figure out how to profitably leverage your team members' skills and talents Hire competent people Trust the people...- Rawseed
- Post #288
- Forum: Mindset and Self-Development
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The one thing missing from Unscripted: Life, Liberty, and the Pursuit of Entrepreneurship
MINDSET@kelvinfernandezm You could have and should have made your point about religion being a seeder without mentioning a specific religion. Especially when your understanding of said religion is rudimentary at best. Living in America doesn't equate to understanding Christianity. All you had to...- Rawseed
- Post #12
- Forum: Mindset and Self-Development
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What’s your Meaning of Life?
MINDSETI don't believe there's a meaning to life. I do believe that the key to fulfillment is finding meaning or finding purpose. The most fulfilling meanings or purposes involve helping and serving others. My purpose is to decrease the barriers to entrepreneurship to the people in my community.- Rawseed
- Post #13
- Forum: Mindset and Self-Development
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The one thing missing from Unscripted: Life, Liberty, and the Pursuit of Entrepreneurship
MINDSETIt's likely that religion wasn't placed in Unscripted because you can't argue faith. It's also obvious that you don't understand Christianity and/or haven't studied the New Testament. Is this really bad advice? Making lots of money and then giving it away is exactly what Buffet, Gates, and...- Rawseed
- Post #5
- Forum: Mindset and Self-Development
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Reading a lot - is this really the #1 trait of rich people?
HOT! MINDSET@JScott Scott Adams' Goal vs Systems is the same concept as Demarco's Event vs. Process. James Clear discusses this in Atomic Habits Andy Frisella's Power List is based on this Hardy's Compound Effect Maltz's Pyscho-Cybernetics Many others say the same thing They're all the same thing. Set...- Rawseed
- Post #27
- Forum: Mindset and Self-Development
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Reading a lot - is this really the #1 trait of rich people?
HOT! MINDSETI like this thread. Everybody has great points. To summarize the posts so far: Read and understand a great book Think about and process the ideas from that book Turn those ideas into a goal to provide massive value Create a broad plan to achieve that goal Create daily action steps to execute...- Rawseed
- Post #24
- Forum: Mindset and Self-Development
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Roth IRA: Worth it or Get rid of it?
Hey @ojimenez1617 That's such a difficult question to answer without more information about your current financial situation and your future plans. So many questions would need to be asked and answered: How old are you? Are you married? Do you have kids? How old are your kids? Do you have a...- Rawseed
- Post #3
- Forum: Ideas, Concept Feedback
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