Siri can’t even set an alarm correctly let alone replace entire apps.

 

MJ is getting angry lol

 

Found the title intriguing, then I saw who started it and was like oh geez, not again.

Yes Siri and money have ruined everything, you should just get a job.

Here is your problem, you are looking for the root cause and it’s never your fault. Ecom takes money. Apps won’t work because of Siri.

When will you figure out you are full of excuses. It’s your mind, you aren’t growing it. Please list the last 10 books you’ve read.

 

Why is real estate going to work? I’d like to hear your plan before you shit on real estate 2 years from now blaming it on shitty tenants.

You say that but you aren’t blaming yourself at all.

 

The 1% are not born they are (self)made. They have the same doubts, regrets, and fears as the other 99% does. However they keep putting one foot in front of the other DESPITE their doubt's, lack of money, resources etc..

It's a mindset thing but it is also the belief that if they don't give up they will succeed. Face a brick wall? Find a way around it. Face a mountain? Go over it. Hit a dead end? Back up and find another route, but don't change the destination regardless of how many times you have to course correct. Whatever it takes, just keep moving forward towards that one goal.

This is where you need a mindset adjustment. If you keep chopping and changing every time you come across an obstacle then you will never have a success because you can't have a successful business if it never gets past 60% built.

Stop looking at what everyone else is doing and go and find a pain point instead. See if you can find a solution then scale the hell out of it. Follow One Course Until Successful.

 

All the basic stuff in today's world have been done many many times. In order to succeed in whatever field of work you have to be out of this world. And yes things blow up and loose relevancy fast.

These are the signs of us developing as a race. So you're either good enough to stand out or you will be stuck with the average. It's always been survival of the fittest, the only difference is now people have platforms where they can complain, validate their average effort and shift blame.

Your real estate project will lose relevancy as well, because the smart entrepreneurs are starting to look into Mars real estate for next year, and you're still just thinking about the one on Earth.

I'm not claiming all-knowing status, just my opinion: )

 

The AndrewNC of negativity?

"In 10 seconds i promise to shatter your dreams and motivation no matter what your interests are!"

 

Right on the money. Love that end quote too.

 

So what I hear is other people have done it so I can too. What is really like to hear is your plan.

What you’ve just typed is a bunch of crap again. You could have said all these things before you started e-commerce.

Good screening can result in shitty tenants. A good tenant can lose a job or go through a divorce and trash your place.

Horror stories happen to all landlords not just hobby landlords.

When it happens to you... what will your excuse be?

I can’t wait to see your post about how all the cash flowing good properties are bought by investors with tons of money, agree or disagree?

 

I don't even know what to say. You make it sound so simple. Just go find a SFH, get a loan, rent and cashflow. You are walking into this just like you did with your other businesses.

Do you want to know why I avoid REI as a business? I learned early on that real estate has one huge fundamental flaw. You can't control your gross income.

If you buy a SFH that rents for $2000/mo, the most you can gross is $24000/yr. You can try to increase it by providing furniture, pool service, etc... but for the most part you are stuck at $24000/yr. If rents decline to $1500/mo. You can't charge $2000/mo. If you buy a $200,000 house and the market drops to $180,000, you can't sell it at $200,000.

The market controls most of your parameters. All you can do is fix up the inside to change its value.

In a business, if your competitor drops the price, you can combat it by changing your product's value. There's so much more control in your business vs REI. But the fact that when your businesses failed, you just pointed elsewhere is scary. Because you just can't walk away in REI. It's not very liquid and you just can't quit it.

Now I do own real estate, I've bought and sold over 10 rentals so far, but I do it was a wealth preservation tool vs. a growth tool.

I'm just ranting on REI here because it's not as cut and dry as you believe. With your current mindset, you are heading into a train wreck again. Don't say we didn't warn you here. But just like your other threads, you formulate an opinion and don't listen to others and move forward. I would love to see a progress thread of your first SFH rental.

 

You're complaining that you can't make low value apps that are profitable?

Really?

It's not like the apps have to be particularly good anyway. HQ Trivia is popular.

Don't know how much money it makes (or if it even makes money), but the app gets a lot of people glued to their phone for a few minutes. I'm sure advertisers are interested. HQ Trivia is probably looking for a buyout though.

 

I don't understand what you mean by solving the problem by increasing the number of properties. What problem are you trying to solve?

When you increase the number of properties, you increase your debt load and potential for repairs. So if multiple units go vacant or appliances break in multiple units, you could have a big cashflow issue. I don't know how much you make at your day job, but you better be able to handle this. I've had one fridge go out and an AC unit in 2 months. The fridge I replaced for $800 at bestbuy and the AC unit was $4800. If you had these two units and cashflowed $200 a month each, you would be -$800 for the year.

I'm not saying REI is bad, in fact I'm looking to purchase more SFH as soon as the market corrects a little. I plan to have alot of REI in my future. But you could crash and burn and lose way more money than in your ecommerce adventures.

My Ecom business was started with $100. I had no cushion of cash when I started my business. In fact, I was working a job at the time making about $30k a year.

I had 3 REI properties at the time I started my Ecom business. My 3 properties were cashflowing maybe $300/mo at the time. So I wasn't rolling in the money.

See, this is where you aren't getting it. Again, you are assuming that I had an advantage that you didn't have, which was cash.

 

It's funny, my first business in mind was real estate as well.

The week before my college in 2016, I had already earmarked some locations to start scouting for apartment units, as well as a starter Course for property.

But something didn't felt right with it. The numbers, income, people to deal with, etc. So I didn't follow through.

Now I know why. You have just expressed what my brain was trying to process those years back.

Reps+

EDIT: on the other hand, we need more efficient renovation folks who don't skimp on the painting. At a family's new place, we had to stick markers all over the place because of the shoddy painting. Paid the a$$ $5000 and said we'd pay for the extras if needed, but the fellow just scrimped on the renovations.

So yes, service businesses dealing with revamping units and houses WELL can make it.

 

You are a classic example of someone quitting as soon as it becomes difficult.

"I've done all the work, and it doesn't sell!"
"I've followed everything step by step and no-one wants to my product."

Next thing will probably be:
"Agree? I should buy a business instead of starting one."

As soon as you find one problem, you're looking to another business. The truth is: there is not such thing as simple business. You'll have to work hard and dedicate yourself to get some traction.

You're not "doing entrepreneurship", you just tried a couple of things, hoping something would eventually work without too much effort. It doesn't work that way. If you can't deal with problems, forget about owning a business as it's basically problem solving after problem solving. There are many other "problem-free" choices for you.

 

6 months of cashflow (I assume that's what you meant) wouldn't accommodate that bill. The fridge was 10 years old. Not sure how old the AC was. Water heaters seemed to break every 8 years now. New things break. But more often, tenants break things. Things like, clogged toilet flooded the entire floor, needed new carpet. Standard landlord insurance doesn't pay for that if the carpet is past 7 years. Hard to prove the tenant clogged the toilet.

This year alone in one unit. Leaky faucet, $250 for plumber to replace. Dryer belt broke, $200 to replace. Kitchen sink p-trap leaking, $150 for plumber to fix. This tenant cannot fix anything herself. Ugh. But I'm cashflowing $1100/mo so I don't really care that much.

My point is that you will have expenses, but sounds like you've got it all covered.

This was my own ecommerce store. Was self hosted, used open source OS commerce software. $10 went to the domain. $10 went to hosting. $80 went to SSL certificate. The store was 100% dropship when I started. Traffic came from SEO, blogs, comments, forums, etc... Built it up into a business that sold for 7 figures.

 

This is SO true. I inherited 1/4th of a house that belonged to a lady who lived next door, she was somewhat related to my family (but not really to me), the house's supposed value is HUGE (it's a very big house...about 350mq + garden), but since the market isn't interested in it, the 2 other owners and I have had to drop the price significantly, and it still took us 10 years (and multiple price drops) to sell it.

The value of the house is still the original one (a bit lower with the maintenance that is needed I suppose), but there's no way in hell we'd be able to sell it for its """real""" value. So we'll have to sell at a much lower price. I'm not really fussed about it, this whole ordeal let me realize a thing of two about the market and I'm getting paid for it too (eventually), but the other 2 owners are super frustrated at the whole situation. Understandable, but what can you do, the market is king.

The market is dictating how much value the house holds, not me, not a so called expert in real estate, and definitely not the banks.