New subscriber here. I normally look up real estate stuff and your vid randomly popped up. Yah Single family homes don’t bring much passive income imo. You’re lucky you have parents who are knowledgeable about the housing market. Kuddos to you guys
Thanks for the informative video, Mike. I know more about real estate than I do maritime so hear me out lol. Duplex/multifamily properties are an amazing opportunity, whether you plan on living in one of the units or not. As you talked about, these types of properties are expensive and if anything the pricing is evening out not going down. My family always told me that in this industry, you cant be afraid of risks, and you cant be afraid to take risks. Make banks and loans your friend rather your enemy, this is sure way to getting your foot in the door with bigger properties that require lots of money. You can mitigate the risk of loans by putting appropriate down payments on each property, which is more realistic of a number to achieve than say the ENTIRE sum. As long as your monthly mortgage and utilities cost will break even, or put you in profits every month from tenants you are golden! I hope this information finds you well and maybe you can take some of this along your journey, It's only fair I share my information as you have taught me so much more information about maritime. Thanks Mike
You can also try to find a house that’s unfinished, taking on someone else’s project. But idk it doesn’t sound like the right timing, especially since you wouldn’t have the time to oversee it from start to finish.
@DoItSoonTutorials wouldn't they still own the property? And now they put money in they'd want more then what they initially bought it for. At least that's my thinking.
@@MikeMills1 maybe, maybe not. You’d have to find a good one worth the money. You’d still have to take out a construction loan to finish building. So it’s kinda in between building from the ground up and buying a finished house.
Trust the 'rents. I would. How many properties do you have now? New construction these days is bunk; about like tiny houses for obscenely high prices. Might be time to educate yourself about new kinds of investments and businesses.
My property manager deals with it. But she just happens to be my mom also so I don't really worry about anything. Of money is involved she just tells me she charged my card for whatever.
One question man I just got my MMC w STCW training and VPDSD and idk if I should apply to MSC or SIU because of The stuff I heard or I should go to an academy/school? Any advice please and thank you.
Hi bro, Please I have a question as someone who wanted to start her career in life and am interested in this field, About this course "Maritime Transport logistics technologies", is it the same as Merchant Mariners?
New subscriber here. I normally look up real estate stuff and your vid randomly popped up. Yah Single family homes don’t bring much passive income imo. You’re lucky you have parents who are knowledgeable about the housing market. Kuddos to you guys
Thanks man don't get me wrong my 3 houses do me pretty well but I'm starting to want bigger and better things. Onward and upwards!!
Thanks for the informative video, Mike. I know more about real estate than I do maritime so hear me out lol. Duplex/multifamily properties are an amazing opportunity, whether you plan on living in one of the units or not. As you talked about, these types of properties are expensive and if anything the pricing is evening out not going down. My family always told me that in this industry, you cant be afraid of risks, and you cant be afraid to take risks. Make banks and loans your friend rather your enemy, this is sure way to getting your foot in the door with bigger properties that require lots of money. You can mitigate the risk of loans by putting appropriate down payments on each property, which is more realistic of a number to achieve than say the ENTIRE sum. As long as your monthly mortgage and utilities cost will break even, or put you in profits every month from tenants you are golden! I hope this information finds you well and maybe you can take some of this along your journey, It's only fair I share my information as you have taught me so much more information about maritime. Thanks Mike
Hey man thanks for the advice definitely will take it o to consideration. But yeah this is what I'm aiming to do. Hopefully life permits it.
You can also try to find a house that’s unfinished, taking on someone else’s project. But idk it doesn’t sound like the right timing, especially since you wouldn’t have the time to oversee it from start to finish.
Timing is irrelevant tbh. But who would be willing to let go of a project they already started would be my first question.
@@MikeMills1 people who ran outta money
@DoItSoonTutorials wouldn't they still own the property? And now they put money in they'd want more then what they initially bought it for. At least that's my thinking.
@@MikeMills1 maybe, maybe not. You’d have to find a good one worth the money. You’d still have to take out a construction loan to finish building. So it’s kinda in between building from the ground up and buying a finished house.
@DoItSoonTutorials that's true. I might look into that see if I can find that diamond out there
quick stupid question what is that room your always sitting in that chair in on the ship is it like an observation deck area?
It's the helo tower. If we doing flight ops this is where thr cargo officers would be sitting
Trust the 'rents. I would. How many properties do you have now? New construction these days is bunk; about like tiny houses for obscenely high prices. Might be time to educate yourself about new kinds of investments and businesses.
That's true. Still might need to figure out some things first
How do you handle issues with your properties/tenants while you’re on the ship?
My property manager deals with it. But she just happens to be my mom also so I don't really worry about anything. Of money is involved she just tells me she charged my card for whatever.
One question man I just got my MMC w STCW training and VPDSD and idk if I should apply to MSC or SIU because of
The stuff I heard or I should go to an academy/school? Any advice please and thank you.
Go to the academy. You'll come out an officer. If you feel you can pass the classes go to the academy. Just makes more sense
@@MikeMills1 any specific one?
Kingspoint, mass maritime, suny maritime, Texas a&m, if you really wanna come out ahead these are the schools to go
Hi bro, Please I have a question as someone who wanted to start her career in life and am interested in this field, About this course "Maritime Transport logistics technologies", is it the same as Merchant Mariners?
Have no idea.
Can you get Disqualified from being hired by MSC if you have debts?
As long as you aren't delinquent on payments I think you are good