Can $3 MILLION (CASH) Last You The Rest of Your Life?

[rfx45]

Originally Posted by marcgrat

Invest it in real estate, for example buy a few houses near colleges and rent them to college kids,

Buy a couple $250,000-300,000 4 bedroom houses, rent to 4 college kids @ $2000 a month (i am currently in college and am in this living situation along with a number of my friends)

House is paid off in 12.5 years, you are raking in 24k minimum per year per house minus insurance and taxes and maintenance, etc

So i'd have to say yes, I could make 3 million cash last the rest of my life.

It isn't as easy as that. Granted if you even get approved to buy more than 2 houses, it isn't as simple as it was before. I doubt you'd pay cash for a home, you need a loan for some tax breaks. There are a lot of things to consider when buying multiple homes and renters aren't as easy to come by and if those houses around campuses are making money, how many are you going to find that are selling it? If you just buy any house, chances are you'd have to convert it to be suitable for college students. 

 

[cronicmolemolereturns]

ANYONE who is saying they can have 3 million dollars and still drive their Hyundai and live in their piece of crap apartment is a liar. Give 3 million to a broke clown and they gon live like Bill Gates for a month.

 

[cronicmolemolereturns]

ANYONE who is saying they can have 3 million dollars and still drive their Hyundai and live in their piece of crap apartment is a liar. Give 3 million to a broke clown and they gon live like Bill Gates for a month.

 

[nocomment6]

It probably would actually, I dont think I would need more than 50 grand a year, even with a family.

 

[nocomment6]

It probably would actually, I dont think I would need more than 50 grand a year, even with a family.

 

[shatterkneesinc]

Originally Posted by marcgrat

Invest it in real estate, for example buy a few houses near colleges and rent them to college kids,

Buy a couple $250,000-300,000 4 bedroom houses, rent to 4 college kids @ $2000 a month (i am currently in college and am in this living situation along with a number of my friends)

House is paid off in 12.5 years, you are raking in 24k minimum per year per house minus insurance and taxes and maintenance, etc

So i'd have to say yes, I could make 3 million cash last the rest of my life.

i guess we havent learn much during this recession

 

[shatterkneesinc]

Originally Posted by marcgrat

Invest it in real estate, for example buy a few houses near colleges and rent them to college kids,

Buy a couple $250,000-300,000 4 bedroom houses, rent to 4 college kids @ $2000 a month (i am currently in college and am in this living situation along with a number of my friends)

House is paid off in 12.5 years, you are raking in 24k minimum per year per house minus insurance and taxes and maintenance, etc

So i'd have to say yes, I could make 3 million cash last the rest of my life.

i guess we havent learn much during this recession

 

[nocomment6]

buy gold. but houses and propoerties are still considered the third best things. BUt its a lot more simple then stocks, which need to be watched.

 

[nocomment6]

buy gold. but houses and propoerties are still considered the third best things. BUt its a lot more simple then stocks, which need to be watched.

 

[donjuan513]

I'm more than certain I can especially living with the little finances that I have.

 

[donjuan513]

I'm more than certain I can especially living with the little finances that I have.

 

[ratherunique1]

if ur smart u can turn that 3 mill into x amount of million

 

[ratherunique1]

if ur smart u can turn that 3 mill into x amount of million

 

[dunks318ti]

That is more than enough...you need to make your money work for you.

 

[dunks318ti]

That is more than enough...you need to make your money work for you.

 

[kadukukicks]

...i'd say yes for my life...unless your really BAD with money...then you need a money management course...

 

[kadukukicks]

...i'd say yes for my life...unless your really BAD with money...then you need a money management course...

 

[ace rawstein]

yep...no doubts...ya boy would be just fine!

 

[ace rawstein]

yep...no doubts...ya boy would be just fine!

 

[dajondondo]

the more money u have the more u have to invest in. I wouldnt do anything dumb....... im sure everyone who has 3 million wants to live like a millionaire... but no.. im good with a 1 family house 2 car garage.... ..f a pool..... im investing my money no one will know im a millionaire.... cars n @%++ can wait.

 

[dajondondo]

the more money u have the more u have to invest in. I wouldnt do anything dumb....... im sure everyone who has 3 million wants to live like a millionaire... but no.. im good with a 1 family house 2 car garage.... ..f a pool..... im investing my money no one will know im a millionaire.... cars n @%++ can wait.

 

[93snakedfox]

I'll make it last.

 

[93snakedfox]

I'll make it last.

 

[blackmagnus514]

Yes...I probably wouldnt even be thinking about shoes...

The goal would be to make my money work for me.

 

[blackmagnus514]

Yes...I probably wouldnt even be thinking about shoes...

The goal would be to make my money work for me.