ninja that does suck, as a rule if I handle a gun I don't own or I am not buying I will hold it feel how tight it is as well as I can with out racking the slide or pulling the trigger, its not my gun why would I do that?
Dragline, you are right, where in mass are you located? I got lucky, I worked hard, built a good business and a bigger company came in and paid me more than I ever thought it would be worth when I started it, plus I accumulated a lot of rental property, that now just pays me to own it every month.
You can actually be a millionaire in 15 years if you do it correctly, you buy a 2 family house and a 3 family house, fixer uppers, say $60K down with good credit, 15 year mortgages, now collect the 4 rents and live in the other apartment, depending on your purchase price and rental value it shouldn't take more than 5 years to pay them 2 houses off, now with the new loan "guidelines" its hard to incorporate your rental income into a line of credit, but with properties that are paid off it is much easier, so NOW, your 2 houses are OWNED, and you can get some serious money out of the banks, buy more multi families as many as you can and rent them, again 5 years, living like a hermit working your regular job doing maintenance and collecting rents in any spare time you have, and dumping profits back onto them 15 yr mortgages, you could own 7-10 houses in say 12 years, now figure even if you only have 15 rental incomes at 800 each, thats $12,000 per month!!! figure 40 percent of that for taxes, insurance, upkeep ect and you can be making $6000-7200 a month without leaving your house!!! OR cash out when the market is good {not the smartest move since you keep the houses for x amount of time you can still own them and have all that money}...
Anyway, I can talk about that stuff all day, I have a very healthy amount of high end rental property {I sold all my $1200- neighborhood stuff and kept the cream}, so every month my real estate company makes an obscene deposit into my bank account...
ANYONE CAN DO THAT, by the way, good credit with a bit of know how and some down payment money, you can be a millionaire in 10 years or so!!! I used to take care of everything myself, collecting rents, doing the books, advertising, upkeep and repairs, interviewing tenants, ect, now I don't touch much at all, it runs itself.. The key for me was running my other business the entire time, so if the realestate was rocky {I had 9 apartments with 4 empty for 3 months because of the 100 year floods, I learned the hard way about flood zones and insurance!!!} but it wasnt deadly for me because I had my original income through them times, if that flood never happened I wouldnt have any horror stories because besides that {only cost me about 175K at the time} the rest of the time, the business was great... Anyone ever interested in doing it and needs advice, pm me, I love to get people on that track, any advice I can give is for free