Lawn Service Forum - SPECIAL Interest Group

[Phil Nilsson]

What are the "interests" of this Special Interest Group?

Tell me about it ... so we can zero in and get at the "good stuff"

Some thoughts about Special Interest Groups all wanting the same things ...

1. Make more money ... make it faster ... make it easier
2. Make a good life for yourself.
3. Be happy in business.
4. Have and enjoy the "good life".
5. Have less stress & worry.
6. Find ways to take more time off.
7. Save, and invest so your money works for you.
8. Having pride in your business accomplishments.

What else?

[Lawn Dude]

My reasons for starting a business? To be in control of my future and to be rewarded for good decisions and hard work. Nothing motivates me more than knowing that all the good and all the bad are a result of my choices and performance. I know this is a bit of a generalization, but I think you understand what I'm saying.

I hope I get rich, but that's not why I do it. I hope I have more free time, but that's not why I do it. I hope I have less stress, but I really doubt I will.

From your list here are the numbers that apply to me 2, 3, 8, but if you can show me how to achieve numbers 1, 4, 5, 6 let me know.

[Phil Nilsson]

Taking it by the numbers ... one avenue that can lead to financial security is real estate investments ... namely rental properties ... where cash flow is the name of the game ... mortgage paid by renters goes "down" ... then (hopefully) property values go "up" ... (usually always do) ... as more equity builds leads to "money source" to continue adding more properties to your asset list. This to me is one of the best "self generating" American Dreams available. Also many "fixup" properties can be bought, rented short term if desired, sold at a gain to reinvest at another level. Cash cow later ... is tap in borrow for cash needs if necessary.

[Elwood]

I LOVE the rental property "game"!

[tulsa lawn guy]

I LOVE the rental property "game"!

I'm looking forward to getting into it myself. I've read countless books on the subject, but where do you really learn how to pick out a good property that will provide positive cash flow? A mentor?

[Phil Nilsson]

The first thing you'll need is a little "excess money" put aside to invest. And you might have to "compete" for the bargain properties because lots see the potential.

Excess money? ... making more than you need or spend ... reaching into credit lines, having equity already in place etc. That's the starting point.

Also ... some of these can be done "joint venture" a pooling of dollars by investment partners to "get at" the larger properties beyond 2 or 3 family gigs. Start small.

[RRS]

I’ve been seriously considering looking for a house that needs “modernizing” as I call it. Something that I could close on by the end of fall that doesn’t need major renovation just minor work like new flooring, painting, landscaping, countertops, etc., things that my guys and I can do with the tools that I already own, and my basic knowledge. Maybe work on it over the winter, and either get a renter in it by spring, or put it on the market for spring buyers.

[SCW]

Real estate is my passion. I have done a lot of research on the subject. I'm dying to get into it---but my husband is nervous and skeptical about it. I'd like to do a few fixer-uppers---fix 'em and then sell 'em and then work into rental properties to hold for the long term. I had thought a fixer upper would be an excellent project for the winter...could keep the guys busy...has anyone out here done that?

[Phil Nilsson]

Lots of people have done it. Look into the inner city Hud Properties that guarantee rental income for the units ... (((paid directly to you!))) for conserving, recycling the older units and making them available ...

Make no mistake about it ... in the coming years there are huge numbers of folks that will need to rent ... Hispanic population and others who can't buy "day one" ...

But be quick about it ... my "other business" is real estate sales and the Hud Props we sell don't last on the market more than a week or so ... and just one listing will fetch maybe 20 offers!

You snooze you lose! ...

[Elwood]

Rental properties with guaranteed incomes from the Government are golden. Tho things the goverment won't let get out of hand in this country. 1) Hungry people and 2) Homeless people.

There are TONS of people who are not able to buy, have financial problems, or lack of finances, children, etc. and qualify for gov't. assistance. In many cases, the gov't. pays most of the rent, directly to YOU as the home owner. That check is never late or short.

[Tommy GS]

Rental property can be a pain in the azzzzzzzzzzzzzzzz! I know from first hand experience...........I cannot wait to build my own home............