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Life Aint Nothing But Bitches And Money...


maltliqourlive

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Its Life, its rough, its hard, its easy, its life.

 

hmmmmmm...

 

I guess this thread is dedicated to self introspection over the last years.

 

Im getting older. What do I care about now? Racks, Heavens, Freights, Shots, Hos, Kicks...

 

not really. Im more concerned with property ownership, equitable credit lines, luxury furnishings...none of which i have.

 

However I think i can get just as up with a piece of furniture that sells than i can with a burner that rides you know?

 

So, 12oz is a nice community that retains a lot of intelligent established citizens coming from a graffiti background.

 

point blank.....i want a house a car a wife a pitbull and maybe a kid. im getting old. i give it up to those that write that are older than me...but hey..i kinna sucked at graffiti. i want money. cold hard cash. revolving credit lines and property. you can make stoopid money with property. its easy to do as well....you would not belive what slumlords get away with. and these are motherfucking slum lords...bitches got like a million plus in revolving equity.

 

so i guess i created this thread to open a forum of discussion on getting rich in our current economy.

 

if you can buy property in cali for example your rich.

 

property in the bay area went up 20% in one fucking year.

 

average for the state is 13-15% yearly...YEARLY.

 

once you buy one you can borrow against it to buy more and so on....

 

you know what im saying though? me and my ex bitch dropped 80 grand in rent by the time we were 26. where the fuck was the class in highschool that taught you how to buy a house at 19???

 

 

bling motherfucking bling...

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life goes on.

its all becoming a big joke to me. which is alot of fun. i dont care for anyone's oppinions. all i care about is making myself happy. which yea its totally selfish. but its me time. im sick of being mr. selfless. so fuck you all. other than that.. a year ago i was out of school.. working super part time (8-16 hours a week).. now im in school full time (22 hours a week) working 38 hours a week. making that paper. woooordd. just got a $5500 credit line from bank one.. which was odd.. because i have 2+ credit disputes with them from previous shit. ack what ever.

 

bling.status. from $0 to $7000 credit line. and $4000+ in savings. word.

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be responsible with that credit line and in 5 years youll have a credit line of 50 grand if you have an income to support it.

credit is no joke. take advantage of that and start building your credit to qaulify for a mortgage and then pull pimp shit like revolving credit lines of 100G's.

 

or you can fuck it off and pay mad interest while being in debt for a long ass time and completely screw your chances of qaulifying for a mortgage.

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Originally posted by maltliqourlive@Mar 25 2005, 08:50 AM

be responsible with that credit line and in 5 years youll have a credit line of 50 grand if you have an income to support it.

credit is no joke. take advantage of that and start building your credit to qaulify for a mortgage and then pull pimp shit like revolving credit lines of 100G's.

 

or you can fuck it off and pay mad interest while being in debt for a long ass time and completely screw your chances of qaulifying for a mortgage.

 

 

haha i have never made a payment on any of my cards.. that was less than $250 at a time.. and when i do that i usually pay $250 one week. then the next week drop another $300 or so. ive learned from others experiences. hahahahahaha.

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im tellin you...

 

buy property.

 

if you own property, your rich. watch out though cause they will try and jack your ass for it to.

 

point blank...my apt is 1600 a month..my parents mortgage is 1700.

get the point?

 

the money i have dumped on rent could have had me a qaurter into a house that would have gained 30% in property value by now.

 

use that credit to get a mortgage!!! buy other propertys agains that, lease em out for 5-10 years, let the property appreciate, remodle em and sell them shits.....

 

your a millionare by 45 -50 at the latest.

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< late night - drunken kilo comments >

 

to be taken with a load of salt

 

Here's the key to getting rich, even if that wasn't you primary question. BUY THINGS that will grow in value. We chatted about this before, being 'house-poor' and all. But the trut is that if you can hack it, then it's probably the only time you can hack it, so take the risk. Nomadawhat owns a 4plex, and guy's living the landlord life. SteveAustin must be too busy with his property to come buy the goo ol'ounce. or something like that....

 

< end rant >

 

hey maltliquorlive....

if you dont mind sharing, how old are you? I'm closer to 30 than I am to 20 and I know that a lot of the people on here are in the same spot as you are. Decisions decisions decisions.

 

here's my lat drunk point before I hit the 'add reply' button:

If you personally think that you 'kind of sucked at graffiti'.... then dont give up something you're really good at for graf. Dont be a 'writer', just write you name on things when you feel like it, but dont let it be your 'all and end'. Focus young jedi, on what counts.

 

damn... dont let me post after a night out.

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exactly. thats what im lookin to do.

the only down side to being 20.. with this much of a credit line is, loans.. car loans.. and what not. im less likely to get them. once they see that my credit line is that high. they will just be like, look you got this credit why the hell do you need a $5000 car loan.

on the other hand.. i can do alot more traveling now. which ive been wanting to do. i havent made it out to the west coast on a solo trip. ive been meaning to hit up reno for the past 3 years. but never had the money to do so. short version. WESTCOAST BOUND

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more ranting... about buying property:

 

I met with some people who will be my new landlords when I move into this new pad. These people have never been 'landlords' before and they bought a 500K victorian house in the next good area. Figure that if you can get the loan, you can have tennants pay your way. How nice would that be.... if you can handle the midnight call when the water goes out.

 

how to be rich:

 

1 - know your 'latte' factor

2 - pay yourself first - before tax

3 - own property

4 - use what you own to offset intrest.

 

where the hell is steveaustin?????

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yo Key...

 

i paint a nice style. good letter structure. nice fills.

 

i caught cases though.

 

im way closer to thirty than i am 20,

 

my homegirl who i would totally marry and have a child with just got her real estate license and i got friends in construction.

 

i pull a decent amount yearly 35gs or so.

 

i have no credit yet, no debt...and like i said i paid mad rent...

 

im in this to win this...i want to be rich! easiest way i see is to either start a .com and get bought out or borrow money, buy property, lease it out until the taxes stop jacking you and resell.

 

its straight adult shit. you can get jacked, but worst comes to worst, if your not fucked on your credit you can call bankruptcy and keep a house and a car.

 

we are thinking about starting a llc and borrowing as a group to buy property.

 

straight up yo, i can paint pieces till the day i die...i only have so much time to make a few million you know??

 

im pretty drunk to.

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looking back over this thread..... I fail to see your problem

You seem to be on track, and your bricks are stacked right?

 

so your problem in one simple question? for us hard of reading

 

 

is it just 'how do I make my million?'

or is it more like 'how can I turn what I loveinto my million?'

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I told you how... in unclear terms.

 

1 - cut your 'latte' factor down. 'latte' means wasted money.

2 - pay yourself before the tax man takes it. RSPs and 401k's.

3 - own property. once you own the first one, put it up to get the loan for the next one.

4 - live rich in real ways, not based on finances. Money isn't everything.

 

all based on this book : http://www.finishrich.com/splash/index.html

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Originally posted by <KEY3>@Mar 25 2005, 04:13 AM

looking back over this thread..... I fail to see your problem

You seem to be on track, and your bricks are stacked right?

 

so your problem in one simple question? for us hard of reading

 

 

is it just 'how do I make my million?'

or is it more like 'how can I turn what I loveinto my million?'

 

 

nahh dog...

 

im on track..im not complaining nor looking for sympathy or help or any of that shit....

 

more just trying to share my viewpoint on life and perhaps assist a 12ozer on getting on a better track to becoming a property owner and doing whatever they want to do with their life.

 

ey yo, its channel zero...give a fuck with all the worthless shit on here. at least i tried to start a discussion on real economic ideas, principals and strategys that could play out in to becoming a large property owner and making a ton of cash.

 

i mean, i could work a desk job or a trade and make a nice living, but to make millions, you either need a really good idea or own property.

 

basically what im saying, is if you have credit cards, and established credit...work hard to keep that shit top notch and buy property. learn about what it takes to maintain and lease a property and do that shit!

 

its a very serious adult conversation...rather out of place for channel zero..but hey...it was what was on my mind after a few fortys.

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fuck being rich..spend your money on alcohol...my father has money,havent been living with him for 5 years and hes soo damn stressed..and im the youngest child..

Also ive sold all types of drugs,and made several thousand..made lots of money,maybe its just me but no matter what if im the rishest man in the world ill still be miserable.

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talking about selling drugs on the net is stupid.

 

if you did make a couple grand, save that shit and dont tell no one about it. try a safe deposit box and save that shit till your broke.

 

stop selling drugs, find a job, go to school, do somthing!!!

 

98% of drug dealers lose it all in the end. the key is to get out after making money.

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hey... dont put down ch.zero like some playpen.

Sure most of the kids are well... kids... but think of how much they

could have learned from us older heads if they just listened to it.

 

hell... not like we have the answer(sp-drunks).

 

you should do a search for some of the convos steveaustin (a property owner), nomadawhat (a landlord) and myself (a drifter) have had. let me go look for it....

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i hear what make it happen is sayin.. my parents got loot. but im not gonna bitch out and be all like.. daddy i need money. im making my own now.. looking to move out within april. paid off my car and everything. luckily for me.. i have a free ride in college, i dont pay it. my parents dont pay it.. so i am taking advantage of that. but other than that everything else is on me. shoes, clothes, food, gas, car maintence, the whole 9 yards. where as on the other hand my twin brother.. gets everything from my parents.. hes lived in an apartment for 2 years now.. they have paid it for about 15 months now. buy all his clothes, his food, furniture.. hell even his car. and he goes to school part time. and doesnt have a job. in no way am i bashing him, nor am i jelous of him.. if anything i feel bad for him. because when its his time to hold his own i dont think hes gonna have a clue as to what to do.

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Originally posted by maltliqourlive@Mar 25 2005, 04:31 AM

talking about selling drugs on the net is stupid.

 

if you did make a couple grand, save that shit and dont tell no one about it. try a safe deposit box and save that shit till your broke.

 

stop selling drugs, find a job, go to school, do somthing!!!

 

98% of drug dealers lose it all in the end. the key is to get out after making money.

Exactly,my point was that there was no good sense in doing it,and i dont recommend it for anyone,ive been arrested for drugs and did my time,ive watched my mother do drugs for years and it has no more point to me..im going to college and finding a job,and making plenty of money legally,i was just saying,you could make all the money in the world and it wont mean shit,there will just be envy from another idiot that depends on a peice of paper to survive.everyone should just start doing trades again instead of judging people by their salary..

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You seem to have it all in order.. with the exception of how you plan on getting your dollar up quicker. 35k annual is nice but if you really want to speed up the process you're either going to have to find something that pays a little more or get your ass in school for at leat a couple years before you waste another couple years and realize you need to get into school to speed up the process.

 

I don't know a whole lot about all of this stuff, but I work in the insurance industry and I get to interact with a lot of rich motherfuckers; and you were right, they don't tell you the stuff you need to know in highschool:

  • 1. Find a substantial source of income (usually this would be your first job out the gates/school).
     
    2. Don't treat yourself to anything spectacular (most kids want to run out and cop a new, lavish ride, DON'T. The law of diminishing returns is a motherfuck and you're only doing yourself a dis-service.)
     
    3. Establish credit (this could come earlier, I guess) to borrow against.
     
    4. Use established credit to buy equity.
     
    5. Find things that help your tax situation (i.e. start a business, have children, get married. These things come when you've got your base established).
     
    6. Borrow against equity to establish more equity/help credit situation. (repeat).

 

Now, I can't say that's in exact chronological order but you get the idea. From what I understand (and see in my day to day) it takes most people well into their 30's to get comfortable; not because they don't follow these steps, but because they don't really KNOW the order of operations to the game called life in the half-bastard system we're trapped inside of.

 

Fuck, being a 'comfy millionaire' doesn't matter to me, I've just always been the type of person to listen more than I talk. I guess this is one of the benefits.

 

I'm 21.

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Sounds like you have a good idea and the means to get out there and do it. you have a steady income, well two infact. With some of the loans today it makes it alot easier for people to get into the market. You're not required to have 10% down, you have interest only loans and so many other options.

Get out there, start investigating properties, call a real estate agent and get them to e-mail you weekly with all the properties that fit your needs and wants just to start getting an idea of whats out there.

If you and your girl are going to be buying a property there is no need to start with an LLC, you can just form a partnership. That is how I did it. There can be some advantages to LLC,s but I think those would apply more down the line when you are looking at a second or third property, if thats the plan. I'm am just starting to investigate these advantages vs disadvantages becasue I may need to do this for several reasons.

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I have no debt. None. My rent and bills totals 600 a month. After taxes i pull around 2200. No car payment to worry about which means no insurance, no gas, no tickets, no repairs.

 

Basically the reason we want to start a LLC is cause we want 6 or 7 people on it. Its nothing I plan on doing overnight, im 27 would like to be supporting myself as a landlord by 35 and comfortably wealthy by 45 and straight retire.

 

The real estate market is so hot in the bay area its seriously retarded. I used to live with my ex in some clapboard ass condos. These fools bought one, did a 1 month remodel sold it in two weeks and made 50k.

 

Theres that angle and buying and leasing until the taxes are not going to rape you when you resell, i forgot how long that is exactly, but with the rate that cali props. increase, your looking at a almost double your money sell in as little as ten years which is chunky considering the average price for a home is 550 gs. But the rents here are so retarded in some cases that you have nothing to lose by going for that mortgage if you can.

 

However, I dont plan on buying in the bay first. Way to much cash, an earthquake is overdue. After the earthquake? Probably. In the mean time there is tons of new bedroom communitys being built. Our population is supposed to increase like 40% in the next ten years which is going to knock prices up mad crazy.

 

I found a 10g loan i qaulify for and will be using that to establish my credit, so hopefully in two years with that repaid and a good business partner I will be able to qaulify for a mortgage. It would be kind of nice to get married, cause you can pull a mortgage with a joint income of 100gs and you get fat tax breaks to.

 

anyway....

right on for the responses.

 

I was thinking about school, and since its free to go right now I will probably be enrolling shortly.

 

Peace 12oz!

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hah!

 

smallpimpin called me out.

 

like that old school hit. I Got It Made.

 

i dont got no job yet. Im just worth at least 35k a year.

 

had yall for a minute huh.

 

nahhfor real though... i should get good job soon.

 

im buzzed on beer and paint fumes. homegirl laced me with cash for a canvas, shits turning out dope yo.

 

regarding my oldschool 80s vocab slang, im horrible, fool, i drink beer and im like yeah fool, mad shit yo...shit was tight fool.

 

no articulation and grammar on that shit.

 

i found a real cool radio station and freaked a foam brush. today was good day. took a ride on the freeway.

 

stupid malt liqour oner.

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If you have a lot of friends in construction and your girl has her real estate licence why dont you start up your own company buying up hud homes fixing them and then selling them? Once i get myself a little bit better established, that is what i want to do with myself.

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