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Old Aug 24th, 2008, 07:38 PM   #1 (permalink)
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My name is Dan, I was a blackjack dealer at trump plaza in A.C for 10 years and then on the cruise ships here in fl for 3 years.The last 11 years I have been a fulltime flipper/landlord. I have a wife and two girls 3 and 9. We live on 40k a year from 6 free and clear properties that I owner financed out.We have no credit card debt or car payments. I have 200k in the bank. I used to think leverage was the way to go in real estate,but not no more. I want to learn to find ways to enter the fastlane.
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Old Aug 25th, 2008, 01:26 AM   #2 (permalink)
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Originally Posted by Dhappy View Post
My name is Dan, I was a blackjack dealer at trump plaza in A.C for 10 years and then on the cruise ships here in fl for 3 years.The last 11 years I have been a fulltime flipper/landlord. I have a wife and two girls 3 and 9. We live on 40k a year from 6 free and clear properties that I owner financed out.We have no credit card debt or car payments. I have 200k in the bank. I used to think leverage was the way to go in real estate,but not no more. I want to learn to find ways to enter the fastlane.
Hey, Dan! Welcome! Thanks for the intro.

Can you tell us a bit more about your properties? How did you acquire them? What kind of properties are they? Things like that...

Thanks again and welcome!
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Old Aug 25th, 2008, 08:15 AM   #3 (permalink)
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Hi yankees, Where in NJ are you from? I,m from south jersey,millville. I moved to fl about 15 years ago. I started with block houses leveraged to the max with $100 a month cashflow each as I was taught. I soon found out that $100 was gone with a few repairs and move outs. I wanted to live off my cashflow,so I went out and bought mobile homes on land worth 40k for 20k cash that I made from flipping houses. M.H. are popular here in fl and good people rent them. I know this is very slow lane. I have been reading everything on this site for 3 months now and I,m amazed at the wealth of info.
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Old Aug 25th, 2008, 12:59 PM   #4 (permalink)
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Originally Posted by Dhappy View Post
Hi yankees, Where in NJ are you from? I,m from south jersey,millville. I moved to fl about 15 years ago. I started with block houses leveraged to the max with $100 a month cashflow each as I was taught. I soon found out that $100 was gone with a few repairs and move outs. I wanted to live off my cashflow,so I went out and bought mobile homes on land worth 40k for 20k cash that I made from flipping houses. M.H. are popular here in fl and good people rent them. I know this is very slow lane. I have been reading everything on this site for 3 months now and I,m amazed at the wealth of info.
Thanks for the reply.

I'm in North Jersey -- Essex County to be exact.

Do you plan on sticking with your MH strategy or moving up into larger properties now?
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Old Aug 25th, 2008, 01:20 PM   #5 (permalink)
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Dan, impressive intro ... you are far ahead than many of your peers. Congrats and welcome!
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Old Aug 25th, 2008, 04:45 PM   #6 (permalink)
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Thanks PhXMJ, Your story is incredible. I feel like I,m moving as fast as a snail after reading some of the other posts...Yankees, I want to do something else so I can get on the fastlane, but I have no idea what that is. You are 17 and thinking about things most people never think of. Thats great..
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