Best Strategy - Posted by Scott Daly

Real Estate Investing
1

Posted by Mike Benish on February 23, 2001 at 14:49:51:

Hal Hi. We took your suggestion into consideration, but we decide against it for the reasons stated at the end of this post. I personaly work for Scott and I am the one who suggested to post this question on this board. He is looking at this from a long term point view and not something that will happen overnight. He has no experience in the REI field and I don´t have much either, that´s the reason I suggested he submit his post to this board. I personally believe he can reach his goal faster. The dollar numbers he stated for what he has available and what he can save are accurate. In conversation that we had today, he´s looking at maybe buying 4 to 5 house´s within the next 5 years paying them off as quickly as possible and living off the rent checks. Conservative thinking IMHO. He just would like some advice on how to reach his goal. Should he consider L/O, Flips buy and hold, etc. Why do you think we work overseas, we don´t have to rob banks. Besides even if we did, it would be in local currency and we would need dump trucks to move the cash, not to mention the beating we would take on the exchange rate from local currency to dollars. But these jobs don´t last forever and it make sense to plan for the future wouldn´t you agree? Anyway thanks for your suggestion.

Kind Regards
Mike

2

Best Strategy - Posted by Scott Daly

Posted by Scott Daly on February 23, 2001 at 13:29:13:

Greetings,

I’ll keep this short and to the point:

Goal: Earn at least $3,000 or more a month by renting single family houses in San Antonio Texas or elsewhere.

My Income: I’ve got $10,000 and am saving $4,000 every month.

Time: I live and work overseas and don’t have time to watch investments, buy today sell tomorrow, etc…

Question: What is the best strategy to achieve my goal considering my situation?

Thanks,

Scott

3

Re: Best Strategy - Posted by Nate

Posted by Nate on February 23, 2001 at 14:40:21:

If you are overseas and will therefore be essentially a passive investor, why do you

  1. care about whether it’s in San Antonio, Timbuktoo, or anywhere else?

  2. care about what TYPE of property it is (single-family vs multifamily or mobile home parks or office buildings or…)

Just curious,
NT

4

Here’s what I’d suggest - Posted by Hal

Posted by Hal on February 23, 2001 at 13:58:20:

Rob a Bank!

Hal