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Originally Posted by USMCFirebat
It means that with enough money and help, one can be bought and lived in as well as rented out
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Quote:
Originally Posted by Super
I see, but how would a college student get the money and help to mortgage one of these houses? It seems like you'd need a lot of money. (I'm not attacking your idea, just want to know more about it)
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help with money* i guess i meant to type. The help i got from others not in family is just through connections and networking and stuff. As far as my money, I invested as much money as i knew i immediately had no real use for. If you know me, you know im really cheap. I live below my means so i can one day live way above my means. So no, im not really funding the majority of what we put down on it.
Similarily, I dont get the majority share of any money gained, only as much as the percentage i put in, but at the same time I'm covered any if i lose. part of a deal i have with my uncle and mom.
They let me do this because of 401k rules and how you dont have to pay lumpsum fees on a 401k so long as its still in something considered "an investment." This is because of the future value of money vs the present concept. So they have this money laying around because they are too busy with other things, I pitched them the idea and they agreed to it.
(sorry, im doing a bad job of explaining it, in a rush. breakdown: you cant take the money in a 401k and put it in your checking account without paying the lumpsum penalty fees. If you put it in something deemed an investment, no fees. Its a workaround to the rules, letting me use it, but not theoretically use it.) I could double it, but at the same time if house prices drop (its a beach city so im pretty confident) then i could have made a **** up and deliver a sizeable hit to the familys investments.
my family approves of my entrepreneurial ways. They're behind most of my calls so far. If im right, we all gain, but if im not, then the rich ones in my family agree to the loss. My track record is okay, biggest regrets so far are not being more gutsy when i shouldve been, but the deal is set up as a learning experience.
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Originally Posted by CrazyGerbilEater
i disagree slightly with what you said usmc, i think we should influence people around ourselves to try and improve the system. by improving those around you.
by thinking that you dont make a difference, you may degrade the system. true, you by yourself dont make a difference, but by deluding yourself, or simply pretending that you do make a difference, you improve the system. becuase if everyone deluded themselves into beleiving they make a difference, then they would make a difference.
but even if you dont think you make a difference, as long as you dont negativly influence people around you, its all good.
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i understand where u are coming from, not everyone agrees with some of my cynical ways. in fact, i used to share your ideals when i was younger.
in my mind i justify it to the tune that because we don't live in a a Pareto Efficient Economy (where in order for one to gain others have to lose) and because that will never happen in this imperfect market, its still possible for me to gain and not cause harm onto others.
Its a little idealistic and ambitious for me on a small scale to be watching over others who i have no idea about, dont you think?
Also, I do try to improve others, but mostly people who i share a lot in common with and who have gone through a lot with me. Those are my trusted few and while networking brings you a ton of new acquaintances, sometimes its hard for me to tell who is truly with me, or whose just trying to ride my wave.
as you might have guessed by now, i share a lot of libertarian views on how things should be done. maybe its the way i was raised, dunno.