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#1
05-11-2005, 12:59 PM
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How would you millionairenize?
If you were 20 years old, doing well in poker but have less than 100k net worth, and wanted to become a millionare (networth) by the time you are 30, how would you do it?
What would your long-term financial plan be? What category would your centralized study be about? Any other relevant discussion on this matter is greatly appreciated as well. 
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#2
05-11-2005, 01:08 PM
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Re: How would you millionairenize?
[ QUOTE ]
If you were 20 years old, doing well in poker but have less than 100k net worth, and wanted to become a millionare (networth) by the time you are 30, how would you do it? What would your long-term financial plan be? What category would your centralized study be about? Any other relevant discussion on this matter is greatly appreciated as well. [/ QUOTE ] Real Estate...I made it by 25. Or invent something. -Gryph
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#3
05-11-2005, 01:12 PM
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Re: How would you millionairenize?
[ QUOTE ]
Or invent something. [/ QUOTE ] Tom Like that guy that invented the pet rock. You see, that's what you have to do. You have to use your mind and come up with some really great idea like that and you never have to work again! MICHAEL I don't think the pet rock was really such a good idea. TOM The guy made a million dollars! Y'know… I had an idea like that once.
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#4
05-11-2005, 01:16 PM
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Re: How would you millionairenize?
This is a horrible idea...horrible.
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#6
05-11-2005, 01:17 PM
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Re: How would you millionairenize?
[ QUOTE ]
[ QUOTE ] Real Estate... [/ QUOTE ] this is good advice [/ QUOTE ] Yea. Clearly the back end of a bubble with interest rates rising is the best time to get into real estate.
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#7
05-11-2005, 01:21 PM
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Re: How would you millionairenize?
[ QUOTE ]
[ QUOTE ] [ QUOTE ] Real Estate... [/ QUOTE ] this is good advice [/ QUOTE ] Yea. Clearly the back end of a bubble with interest rates rising is the best time to get into real estate. [/ QUOTE ] Jake - This guy is 20, he does not want to hear about interest rates, he just wants to know how to become a millionaire.
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#8
05-11-2005, 01:21 PM
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Re: How would you millionairenize?
[ QUOTE ]
[ QUOTE ] [ QUOTE ] Real Estate... [/ QUOTE ] this is good advice [/ QUOTE ] Yea. Clearly the back end of a bubble with interest rates rising is the best time to get into real estate. [/ QUOTE ] Good real estate investing doesn't depend on the market. We probably have about 3-5 more years of this easy money in real estate. You have to adapt to a different strategy if the bubble burst. Just think Trump made a lot of money in a poor real estate market through creativity. -Gryph
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#9
05-11-2005, 01:25 PM
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Re: How would you millionairenize?
And how many times did he declare bankruptcy before he did that? Look I am not saying that real estate is not a wise investment, but you also have to look to other investment mediums to offset a market slide if one should occur. Look to mutual funds, retirement plans, and other vehicles as well as the real estate market to build up net worth.
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#10
05-11-2005, 01:26 PM
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Re: How would you millionairenize?
[ QUOTE ]
Just think Trump made a lot of money in a poor real estate market through creativity. -Gryph [/ QUOTE ] Trump also ran several of his real estate deals into bankruptcy, lost a lot of people a lot of money, and was nearly bankrupt himself at one point.
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