My Plan B------> Real Estate

Discussion in 'Pfizer' started by Anonymous, Apr 28, 2014 at 3:22 PM.

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  1. Anonymous

    Anonymous Guest

    You need to write a blog. If you're the one thats contributing the most to this thread, you have been awesome.
     

  2. Anonymous

    Anonymous Guest

    I think there are a lot of knowledgeable people who responded to this thread. There are Many more pharma reps than you think have rental units. I am passionate about having a plan B and rentals just happen to work for me. Staying a rep and not going into management was the best decision I made many years ago. I have been doing rentals for over 12 years while being a rep so ask me any questions if you are thinking of doing this. I can't answer questions about NY or SanDiegos expensive real estate market because it is completely different market then mine.
     
  3. Anonymous

    Anonymous Guest

    For anyone in the cash flow buisness and not in the equity game I suggest buying condos. No exterior maintnence and you have your own internal rental unit. It won't appreciate as fast but the outside costs that dobe exist can counter some of the fees associated a condo. It's lower risk to me because of the contained nature of the unit. They are cheaper to buy and when looking to rent people often look at apartments first over houses. So I think the market is a little bigger for a condo.
     
  4. Anonymous

    Anonymous Guest

    buying = paying cash.
     
  5. Anonymous

    Anonymous Guest

    Real estate is great! I just read a newspaper article where a guy in Palto Alto, CA purchased a house in the 1970's for $35,000 and he just sold it for $3,000,000. A lot easier than working pharma your life and saving for retirement.
     
  6. Anonymous

    Anonymous Guest

    As a person who has had a real estate license since 1986: real estate for investment, etc. is great however, real estate devours your time. Yes, it takes time to research what you are buying, comparables in price, location, etc. maintaining the property/ies, renovating, maintaining, making plans to maintain (snow removal, hvac maitenance,etc.) so although this thread makes it sound EZ it is not it is very "time consuming." If you have the time go for it.
     
  7. Anonymous

    Anonymous Guest

    You're an idiot!!!
     
  8. Anonymous

    Anonymous Guest

    If you started with Pfizer in the 70's you would be retired/ing and will have about a $2,000,000 lump sum payout(maybe more). Not including 401K, stock options, RSU's, etc. Not bad for a job where you didn't really kill yourself (besides all the other perks). Also. if you lived in Miss. or Alabama and bought a house for $15,000 it would be worth about $125,000 today. Your logic is flawed (and stupid).
     
  9. Anonymous

    Anonymous Guest

    Ferguson has some rentals for sale( slightly damaged)

    Might be good investment for the right owner.
     
  10. Anonymous

    Anonymous Guest

    I'll bet he put in $100k plus to maintain the building. He also had to pay shitloads of property taxes every year, as well as homeowner's insurance. Then for the final slam, he likely had to pay California capital gains taxes and federal capital gains taxes out the ass, unless he 1033'd it and bought a $3 million dollar home to defer the taxes.

    If he rented it out all of these years, then his profit would still be offset by his own living expenses living elsewhere. And unless he lived in it the last 2 years, his credit would only be $250k or $500k if married. The taxes still rape you.

    The gains aren't nearly what people are led to believe.
     
  11. Anonymous

    Anonymous Guest

    LMAO at these lies. People are not telling the truth at all about real estate. Do they think they will actually make more money from owning rental properties than working as a drug rep? Get out of here! Being a rep is easy as hell compared to renting out houses. The thing they don't tell you is that shitty tenants, city ordinances, taxes, and a poor economy have most homeowners holding into worthless properties in bad neighborhoods. Most people make chump change or even lose their shirts playing the real estate game. It takes volume to clear any real money. You need about 20 properties minimum to be secure.
     
  12. Anonymous

    Anonymous Guest

    If you are a rep you have the time because the job doesn't need 40 hours a week. I bought over 35 properties while being a rep. It took over 12 years.
     
  13. Anonymous

    Anonymous Guest

    I'm buying up all the property in ferguson right around the liquor store and chicken joint... Can get some real cheap land there now ...
     
  14. Anonymous

    Anonymous Guest

    If prices drop significantly this is a great buying opportunity for the long term investor.
     
  15. Anonymous

    Anonymous Guest

    So that means people should start now??? Do you think there is 12 years left with Pharma sales??? Maybe they should be looking at doing something else since our timeline is probably 3-5 years.
     
  16. Anonymous

    Anonymous Guest

    For every person like you who made it work and are doing well, there are a dozen (or more likely many more) who failed miserably. Congratulations. The crash a few years ago wiped out sooooo many real estate investors it ain't even funny. If you had your money in the market and left it alone -you recovered and prospered. The real estate investors......not so. Probably renting from you!
     
  17. Anonymous

    Anonymous Guest

    You don't need to put all your eggs in 1 basket. If you want to be a real estate investor you could start now and buy 1 property. You might only want to buy 5 in your entire life. The point of real estate investing is to make some cash flow now and have a paid asset in the future. You can always start a small side business also while being a rep. I have a few side businesses only making an extra $20,000 to $30,000 a year while running the rentals. Don't waste the free time you have everyday and being a rep gives you a lot of free time.
     
  18. Anonymous

    Anonymous Guest

    But you are looking at an investment through Hindsight. No one knows what will happen in the next 5 years
     
  19. Anonymous

    Anonymous Guest

    I am a pharmaceutical rep for a very long time.............more years than most on this board probably. That being said: I was a real estate agent for 13 years part-time and did very well and saved a ton of money. Things in this industry got crazier so in 2001 I just renewed my license. But I will go back to this career full time when I retire which will be soon. So my point is one never knows what skills will serve them in the future. Just like when in high school my mom suggested I learn how to type. I said, I will never need this as I would not be a secretary or work in an office. Little did I know how that helped with college papers.
     
  20. Anonymous

    Anonymous Guest

    I was just trying to help. For those that doubt, I really couldn't care less. Truly. I started here in the early 90s. I rose through the ranks, and was one of the first to jump to NHO. I was a RAM until I jumped ship a few years ago. My GF is still in the field here, so I check in once in awhile.

    Know this: if you're thinking that your time here is going to translate to another "sales" job paying six figure salary, you are in for a shock. If you don't have a Plan B, you will be stuck lining up at either some contract company or selling trucking supplies or working as a recruiter at an employment agency.
    I know 10 former IHRs and DMs and RMs that endeded up following Michelle K over to PSS. They tried for YEARS to get a job. A few did, but were unable to hold one down. The others were jobless until Michelle picked up former colleagues and direct reports.

    Real estate has worked very well for me. I am not the most frequent poster on here, but whoever it is has offered us some good suggestions. I'm sure he/she couldn't care less what you do, either.