Rich Dad to be? - Posted by Rich


#1

Posted by Stacy (AZ) on December 15, 1998 at 18:52:54:

Rich, you’re a natural! You’re doing great. Keep at it!

Stacy


#2

Rich Dad to be? - Posted by Rich

Posted by Rich on December 15, 1998 at 18:39:36:

Hi gang! I’m back after closing on the two properties on Friday. That makes it a total of 4 mortgages, and, unfortunately, only one is currently income producing. I need to get moving on the rehab project. The demolition is almost complete and the roofers have almost finished the roof. I’m still trying to lease or sell the bar. The house I plan on living is looking more and more like a candidate for renting. I just found another property that has 10 acres, a 1940’s era wood frame and stone 3br home, an extra house (dilapidated), a nice old stone garage, and a private bridge to the property. All for $79,900. I’d like to tie it up with a contract and try to get my other properties rented, or sold. On my previous posts, I was told to be careful not to bite off more than I can chew. I feel like I’m playing monopoly. I’m waiting to buy Boardwalk and build a hotel. As I long as I don’t ‘go directly to jail and don’t pass go’, I feel like getting a bigger bite! I’m auctioning off the contents of the other house on Saturday morning. I’ll need to recoup at least $10k to keep my banker happy.
Wish me luck! Thanks. - Rich