But you're talking about getting a cashflow game going, right?
Cashflow (Rich Dad Poor Dad)
- Thread starter Twin Towers
- Start date
But you're talking about getting a cashflow game going, right?
That is pretty much exactly what my sister's husband started doing in San Diego about 30 years or so ago. He has a business partner and his sister is an investor, he also works as the maintenance man for his properties. His plan was to sell off all the properties when they were completely paid off, which they are now (I think he has well over a dozen apartment complexes) but he and his partner looked at the tax hit they would take and decided to just keep collecting the rent.
Good news for my sister is that he's over 20 years older than she is...
GoJazz
Well-Known Member
As a Realtor with no retirement I pretty much am counting on this money as a retirement. My plan is to have 10-20 paid off homes by the time I retire. This will be $10,000-$20,000 income per month. Also if I want to purchase something large I can sell one of the homes and reduce my monthly income $1,000ish per month but put $150,000 cash in my hand. Not a bad trade to be making when you are in your 60's or 70's and have very little if any debt.
Makes absolute sense. I think this is one of the smarter ways to prepare for retirement.
Twin Towers
Well-Known Member
Ya the goal is to do this every week. We played last night with 4 of my friends. took about 2 hours.
But I figured it would be fun to do this with Jazzfanz people every once in awhile.
Twin Towers
Well-Known Member
The other thing about this game that maybe i did not explain is in the game there are Doodads in the rat race. If you land on them you have to pay 100 for sun glasses, buy a watch when you already own 2 etc etc. Things that we don't need. So it teaches you to budget better also.
But he also loves Doodads and dream things. Like cars and luxury things. But he teaches you to get enough residual income to pay for those things. Its his reward for getting that residual income. Rather than putting it on a credit card or getting a loan.
But he also loves Doodads and dream things. Like cars and luxury things. But he teaches you to get enough residual income to pay for those things. Its his reward for getting that residual income. Rather than putting it on a credit card or getting a loan.
AlaskanAssassin
Well-Known Member
My problem with MLM is that so much of the revenues come from recruiting new people into the "triangle". I've researched into a few, but if your product is so great, why do you (the business) need to charge people to sell it for you?
My friend wasted about 9 months on one MLM business called YTB, YourTravelBiz. After 9 months of work, about 15-20 hours per week, he came out about $200-300 ahead. And he considers himself one of the lucky ones. Turns out that over 80% of YTB's profits come directly from recruiting new people, ($500 start-up cost), leaving less than 20% of their profits coming from actually selling travel products.
My friend wasted about 9 months on one MLM business called YTB, YourTravelBiz. After 9 months of work, about 15-20 hours per week, he came out about $200-300 ahead. And he considers himself one of the lucky ones. Turns out that over 80% of YTB's profits come directly from recruiting new people, ($500 start-up cost), leaving less than 20% of their profits coming from actually selling travel products.
Duck Rodgers
Well-Known Member
I'll bet a lot of the reason he hung on for even 9 months was trying to justify that start up cost to himself.