Apparently Dolf De Roos never had a job. He just leapt into property investing at around 18 years of age. Does anyone know how he survived the first few years regarding cash flow?
If I can find the answer I can do the same.
Regards,
SolomonWhile at uni studying for a phD in Electrical Engineering he got 3 student loans just for the deposit on his first property. When he’d reached his final year of studies he did a RE deal that netted him a $30 000 profit. This was the same amount he was offered as a first years salary as a graduate of Electrical Engineering, albeit with a phD to boot!
Needless to say he followed his passion for Real Estate Investing and upi ’til the current day has never worked a job.
This is his official website – http://www.dolfderoos.com/Hi Solomon,
If I remember rightly, he made enough money from his first deal to avoid having to go to uni and to begin his career..
Mark.
Thanks FastLane.
So did he then just use that $30k as living expenses while he found more deals?Apparently he has only ever sold 4 properties in his life so how did he access the cash to live on?
So to my situation, I have $100K of equity and $120K in cash & now no business/job/income as I just sold it. If Dolf was in this situation what would he do?
From what I’ve read/listened to:
He’d spend $20K on each of five $100K properties, if he was a beginner. Or if more experienced, take a risk in puitting down 20% on a bigger deal (borrowing the rest). He only buys Commercial property these days (or so I heard on some tapes of his from 2003).
Seems like a genuine guy, with quite a bit of financial savvy.Like Steve, he only buys CFpositive deals.
JB
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