Looking Back (by Ray-N-Pa [PA]) Oct 14, 2021 9:38 AM|
Looking Back (by WMH [NC]) Oct 14, 2021 10:01 AM
Looking Back (by BRAD 20,000 [IN]) Oct 14, 2021 10:16 AM
Looking Back (by NE [PA]) Oct 14, 2021 10:23 AM
Looking Back (by Roy [AL]) Oct 14, 2021 11:16 AM
Looking Back (by RB. [MI]) Oct 14, 2021 11:59 AM
Looking Back (by Dave [MO]) Oct 14, 2021 12:30 PM
Looking Back (by Barb [MO]) Oct 14, 2021 12:45 PM
Looking Back (by Allym [NJ]) Oct 14, 2021 1:04 PM
Looking Back (by Landlord ofthe Flies [TX]) Oct 14, 2021 3:13 PM
Looking Back (by 6x6 [TN]) Oct 14, 2021 5:31 PM
Looking Back (by P.B. [MI]) Oct 14, 2021 7:40 PM
Looking Back (by Robert J [CA]) Oct 14, 2021 8:42 PM
Looking Back (by Ray-N-Pa [PA]) Oct 15, 2021 6:49 AM
Looking Back (by Wilma [PA]) Oct 15, 2021 8:10 AM
Looking Back (by Bill [NC]) Oct 16, 2021 5:12 PM
Looking Back (by WMH [NC]) Oct 16, 2021 5:29 PM
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Looking Back (by Ray-N-Pa [PA]) Posted on: Oct 14, 2021 9:38 AM
I was reflecting back on my real estate career.
As I was doing so someone asked me a rather deep question
The question was, assuming you could control time travel, which button would push a) rewind b) pause.
I was taken back and thought about that last night. I would love to hear what others think and WHY. Please include your age --24.101.xxx.xxx
Looking Back (by WMH [NC]) Posted on: Oct 14, 2021 10:01 AM
I would not want to rewind because that means maybe our kids and grandkids wouldn't be here. But Pause? If I could PAUSE our lives right about now, so we could enjoy them a while longer without the continual, constant breaking down of our bodies? I think Pause would be nice. --50.82.xxx.xxx
Looking Back (by BRAD 20,000 [IN]) Posted on: Oct 14, 2021 10:16 AM
If I went back in time my only regret is I did not keep buying aggressively in the early years.
AND more education, SOONER! Seminars, books, and tapes made me wealthy AFTER I started listening to gurus.
When I first started I picked up 3 rentals - one per kid to cash out for college money- plus a personal home over 5 years. I thought I was big stuff. Then I met some people who owned more than 4 properties so over the next SEVERAL years I pushed it to 15 over about 10 years in the business. We were raising babies, my job was growing.
I thought I was the hottest thing in town with 15 count 15 properties!
Then a landlord that I respected and kind of considered him my second dad said if he could go back he would buy every single property he can get his hands on. He didn't have a big business but he had a good solid profitable business. He had worked in banking. Combine that with landlord experience and it made for some great credibility.
So I started getting super creative and buying everything I could get my hands on. I paid just a little more than with the hard-core investors were paying but I got the property and they didn't. You can't do anything with the properties you don't own.
I saw that my job what is in jeopardy due to new management so we got crazy for two years buying 14 properties a year. The city and a nonprofit became my biggest competitors for buying. They were paying full price and snatched up approximately 100 properties in that same two year. There was not much available on the market.
We grew to about 80 properties and a realtor said why don't you just shoot for 100. That kind of stuck in my mind and before I knew it we were crossing 100.And it gets easier and easier and easier.
If I were to start over with my knowledge I would skip houses and buy a 200 unit apt complex because they sell based on income not bank appraisal , BUT I did not know that at the time, and apt rents are now high.
Looking Back (by NE [PA]) Posted on: Oct 14, 2021 10:23 AM
I donít think I would pause or rewind any of it really. Some of the huge mistakes that Iíve made have been as beneficial as some of the successes that I have had. Burning houses, tremendous floods, partner suicides, tons of lost money. Compare that with some home runs Iíve had that nobody will believe unless they sat there and looked at the paperwork. Anything at this point can happen and I donít really care anymore. There is a benefit to that. --24.152.xxx.xx
Looking Back (by Roy [AL]) Posted on: Oct 14, 2021 11:16 AM
I wish I could go back relive my 20's which was from 1978-1988. Back then, I was broke and did not have 2 nickels to rub together but my sex life was fabulous! Now, I have money and my sex life is pitiful. Looking back, I wish I could go back to the 80's and be broke again. --68.63.xxx.xxx
Looking Back (by RB. [MI]) Posted on: Oct 14, 2021 11:59 AM
There was less BS flying around in the 60's.
A Mans word was his bond.
Real Men went to work, loved their Wives, Children
and got along (respectfully) with their Neighbors.
Nowadays, Sheep cant graze in peace. --24.151.xxx.xx
Looking Back (by Dave [MO]) Posted on: Oct 14, 2021 12:30 PM
I wouldnít hit either button. Life is better by the choices Iíve made today. Iíve surrounded myself with successful people.
Iron sharpens iron.
I have more rentals then some investors and less rentals then others but am good with that. I still buy if itís a deal.
Loved the 80s but my life style back then wouldnít be alive today.
Keep the play button. --174.210.xxx.xxx
Looking Back (by Barb [MO]) Posted on: Oct 14, 2021 12:45 PM
If I could go back in time I would have bought more sooner as well.
I had an opportunity to buy 5 duplexes about 2 streets over from my first ones many years ago. I passed. I should have bought them, but I was nervous.
I also would have gotten into doing new construction sooner. I LOVE my new construction WAY more than the older units. SO MUCH EASIER both to rent and to manage. --149.76.xxx.xx
Looking Back (by Allym [NJ]) Posted on: Oct 14, 2021 1:04 PM
Pause. I have some money in the bank. The duplexes are in good shape. Cancer is over and done with and I have lovely dogs and am rescuing some feral kittens. Gees do they stink. No school to attend or work and money shows up in my bank from ss. It would be nice to go back before covid and have all those people alive again but we could not stop it so that would not work. I have less pain than I did from back issues in my thirties. Sleep on your back. Anything else will cause stress on tendons and back muscles. --108.24.xx.xx
Looking Back (by Landlord ofthe Flies [TX]) Posted on: Oct 14, 2021 3:13 PM
Would go back to 2012 when I bought my first Bitcoin for $250. Would have bought much more than one, and held it a little longer. But at the time, who could have imagined. --108.69.xxx.xxx
Looking Back (by 6x6 [TN]) Posted on: Oct 14, 2021 5:31 PM
Fast Forward. I would only want to rewind if I could change things. No way would I want to pause in todays world. --73.120.xx.xxx
Looking Back (by P.B. [MI]) Posted on: Oct 14, 2021 7:40 PM
Rewind. In 1985 I was super physically fit with a strong body, no aches and pains every day.
I could ride my different horses with my kids and I loved that part of my life. We were always going on trail rides and picnics.
Now the kids have lives of their own as do the Grand kids. I see them but not often enough but I understand that.
Now, my mind says "Yes, go do it." But my body says, "What, wait, stop. Are you crazy to think you can do that."
To me, it is not about money as good thoughts, good memories and good times cannot be bought.. --67.22.x.xxx
Looking Back (by Robert J [CA]) Posted on: Oct 14, 2021 8:42 PM
I know of 2 brothers that sold a property and each got 250K to invest. One purchased "land" and the other SFR. Fast forward 35 years. The person who purchased the land had to pay cash, so his investment was now worth 1.5M. The person that purchased homes put 20% down and got 12 homes, now worth 10M. --47.155.xx.xxx
Looking Back (by Ray-N-Pa [PA]) Posted on: Oct 15, 2021 6:49 AM
I have absolutely made mistakes along life's path. For the most part, I a ma better person because of them. Would it be nice to avoid them? Yes, but how has these mistakes shaped me along the way?
So with me, I am content where I am at now......so I would have to hit pause to enjoy the fruits --74.143.xxx.xx
Looking Back (by Wilma [PA]) Posted on: Oct 15, 2021 8:10 AM
Thoughtful question! I think that I'd say pause during my children's growing up years. We laughed so hard every night over their stories at dinner. But we spent far too many hours on yard work/house cleaning/paperwork.
And my biggest regret is, that before we knew better, we made them work long hours rehabbing a trashed rental during a summer school break (yes, we paid them, but they were not happy with us). I now know that we should have hired a lot of the work out and gotten the place ready to roll in short order, saving everyone's summer. We might have been able to recover some of the damages beyond the security deposit by going to small claims, but even if not, we'd have had a happier family.
The good thing is that this forum has given me a lot of instruction on how to do better. I just wish that I could give my kids some of that summer back. --98.114.xxx.xxx
Looking Back (by Bill [NC]) Posted on: Oct 16, 2021 5:12 PM
I would go back to the day I retired about 16 years ago. --75.138.xxx.xxx
Looking Back (by WMH [NC]) Posted on: Oct 16, 2021 5:29 PM
Wilma, I understand. We dragged our kids into rehabbing and as a result NONE of them wanted enter a trade... --50.82.xxx.xxx
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