OPT (other people's time) and OPM (other people's money)

... is about how to create your own cash machine, a machine that creates passive incomes over long term and in a systematic way, day in and day out.

real estate is just one of the many ways, and its low tech and can't make you super rich; many can do it better by climb corp ladders, others can do better by trading stocks.  and remember investing in real estate, it is not a hobby but need to treat is as real business, and you the CEO.

OPT, is to leverage other people's skill and time, while you concentrating on growing the business and not wasting energy on minor repairs, by saying that, I don't mean you should just thru everything on to others but you needto learn how to manage other people's skill and leverage it the way you can make money on them.

OPM, is to leverage all funding sources so helping you grow your own business, whether its bank mortgages, personal loans or seed money from investors.  

300K net rental income yearly?

by JY:

1) a 300k noi need to see a rentroll close to 1 million collection per annul

2) Normal operating cost (excluding debt services) on residential rental, 
expect about a 65-35 split, well greased operations may see 55_45 but that 
is hard to achieve.

Group project proposal example

By JY

like to know if anyone interest doing a group project on this complex?

I propose form a LLC with 10 members, 50k initial investment, follow up possible investment another 50k.

all money are loan against property, with 10% interest payout, profit sharing at year end.

Umbrella Insurance Examples

by JY:

I have 2 separate commercial policies..

1. west bend mutual covers 54 units, varies location and type, sfh, duplex, 4plex, 5plex, commercial office complex, 1 million liability, 2 million commercial umbrella, for the total of $19,782, avg cost per unit is 30.53 per month. 

2. State Auto, covers 40 units in a complex, 2 million commercial liability, cost is $16940, avg cost per door is 35.29 per month.

3. personal umbrella, 1 million coverage, cost $422.