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Sid23 said:
So someone possibly went under. That is exactly why I started this thread. I'm still confused how someone with so many assets goes under. Especially with low overhead.
Click to expand...


I don't want to speak for him but the way I read his posts is he had a lot of debt. He also had a lot of toys, if I remember correctly quite a few exotic cars.

I actualy just had a discussion about this with my uncle the other day. I found a pretty good 4 unit deal I wanted to leverage myself into with him. But he said its not worth it if you don't have the cash. He is right. If I took out a $250k mortgage the rent would barely cover the note, I'd get a few hundred bucks a month out of the thing if it was fully rented. If rents dropped I'd be under water. He cautioned me and said that I would be better off building for a bit and buying something when I had enough cash built up. Thats how he did it.
 
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Sid23 said:
Katv vu qmez fiwom't efwudevi gus e nopavi...fof zua qsukidv sevit vu hu fuxp gasvjis epf vjev't xjz zua vuul ep efkatvecmi sevi nusvhehi? Xuamf zua tvomm ci op catopitt og sevit jef hupi vji uvjis xez tohpogodepvmz?
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O fof qsifodv sevit vu liiq fidmopoph us vu evmietv jumf tviefz gus e miphvjz qisouf ug voni, iwip xjip uvjist jewi ciip qsifodvoph sotit gus 10+ ziest pux. Og vjopht jef hupi vji uvjis xez, ov xuamf ci jewi ciip qeopgam gus ni. Nohjv jewi lpudlif ni dunqmivimz uav ug catopitt, epf uav ug e juni. Og O iwis tii tohpt ug opdsietit dunoph, O'mm mudl op raodlmz... Cav ov't puv xusvj ov vu mudl op cigusi, cideati ov tiint moli ESN sevit esi emxezt ecuav 2-4% cimux 30 zs goyif sevit! (Updi vjiz jewi efkatvif, puv cigusi -- Og voif vu MOCUS) Itqidoemmz og zua esi tovvoph up ESNT vjev xisi tiv aq xjip zua xisi ep uxpis uddaqepv.... Nz huf vji tewopht esi jahi!

Djiist,
- Jelskel
 
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You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.

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"SCALED TO 6-FIGURE MONTHS"
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— User MitchC
"INSANE QUALITY OF PEOPLE"
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