/biz/ - Business & Finance

>>641636
>People will always tell you that starting a business will bring on a world of pain, and they're right. But if you play your cards right you'll end up far better off in the long run.

Truth right here. It's hard work at first but worth it.

>Be employee, 2009-2011
>Only $25k/yr; experience was real pay
>50+ hrs/wk
>Start biz, same field
>First year (2012): $40k
>Second year: $56k
>Third year: $80k+
>30-40 hrs/wk
>Classy downtown office
>Two f/t employees, more soon
>"Thank you for the job based anon"
>Use skills & influence to help friends, family
>Tell shitty clients to fuck off
>Women like the power & confidence
>mfw

>>453154
In what state are you located? If you want to make any sort of return you should be making $2k+ a month rent on a $200k place... if not, weigh risk/reward and reconsider.

>>431708
I've bought three rentals over the past two years and am an accountant with an economics degree. I'll weigh in on my experiences by using my real figures.

All three cost me a total of $163k to acquire, rehab including labor and supplies, closing costs, etc. I'm grossing $2,375 a month and rent goes up on two of the units later this year to make the three produce $2,700-$2,750.

PITI mortgages are just under $1k combined and even with subtracting hypothetical opportunity cost on my cash OOP + amortizing future remodeling, major system repairs, etc. I'm making over $10k per year. That's before the $35k+ of capital gains over the past 27 months, but those cannot and should not be relied upon. It's worth noting that long term inflation is on my side since I have cheap 30 year debt on one.

You have some good general words of warning, Anon. Too many people think Rent - Monthly payment = PROFIT and they're wrong. But when RE is done right it's an awesome wealth building tool. Just have to buy ones with a 1-2% monthly gross, and that requires patience and the right market.