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How much could I expect to save during my first year working in the ND oilfields?

Discussion in 'Oilfield Trucking Forum' started by cwill187, Sep 17, 2014.

Page 3 of 5
  1. Sep 18, 2014 #21
    cmbks21

    cmbks21 Medium Load Member

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    Nov 9, 2013
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    On another note. ... this guy would not be headed to nd this time of year. Winter's coming
     
    cmbks21, Sep 18, 2014
    cmbks21, Sep 18, 2014
    #21
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  3. Sep 19, 2014 #22
    FIRE17LA

    FIRE17LA Bobtail Member

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    Sep 4, 2014
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    I Wouldn't Bank on Rental Properties if you are going to be gone on the road 4 weeks at a time I have 12 Rental properties myself and they take a lot of work you constantly have to deal with evictions due to people not paying, then they tear your stuff up when they have to move out. Its a lot more work then you think if you are going to manage them yourself and actually make a little money then if you were to have a management company take 15% and of rent and hire the most expensive people to do repairs and make hardly no money.
     
    FIRE17LA, Sep 19, 2014
    FIRE17LA, Sep 19, 2014
    #22
  4. Sep 19, 2014 #23
    cwill187

    cwill187 Bobtail Member

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    Sep 17, 2014
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    If I bought them while I was still in the oilfield I would get a management company at 10% and get a 10-15% return at best. And I only plan on buying in decent areas, so I will get good tenants. And if anyone doesn't pay, the get the boot and I keep their deposit. I will mostly buy after I leave the oilfield though, so I can get a better return and not have to worry about my properties while I'm away.

    I will figure all of that out once I have money, the important thing is I have to make some money to put to use. Once I have some money I'll invest it smartly and make a lot of money.
     
    cwill187, Sep 19, 2014
    cwill187, Sep 19, 2014
    #23
  5. Sep 19, 2014 #24
    TLeaHeart

    TLeaHeart Road Train Member

    4,169
    2,613
    Apr 1, 2008
    casper, wy
    0
    oh the pipe dreams.... when if....

    lazer focused on the most expensive oilfield to work and live in, with brutal winters.

    Decent area, does not matter, tenants do NOT take care of your property.
     
    TLeaHeart, Sep 19, 2014
    TLeaHeart, Sep 19, 2014
    #24
  7. Sep 19, 2014 #25
    cwill187

    cwill187 Bobtail Member

    22
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    Sep 17, 2014
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    Then you keep their deposit
     
    cwill187, Sep 19, 2014
    cwill187, Sep 19, 2014
    #25
  8. Sep 19, 2014 #26
    Arky

    Arky Heavy Load Member

    837
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    Jun 7, 2013
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    I would strongly suggest taking this one step at a time. Finishing school is the first step. Actually getting yourself to the oil patch would be the second. The rest is just a distraction at this point.
     
    Arky, Sep 19, 2014
    Arky, Sep 19, 2014
    #26
  9. Sep 19, 2014 #27
    cwill187

    cwill187 Bobtail Member

    22
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    Sep 17, 2014
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    Exactly what I was thinking Arky, I'll figure that stuff out later. I'm pretty much done with school, next thing is to pile up some money and it looks like the oilfield is the best way to do that.
     
    cwill187, Sep 19, 2014
    cwill187, Sep 19, 2014
    #27
  10. Sep 19, 2014 #28
    Arky

    Arky Heavy Load Member

    837
    570
    Jun 7, 2013
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    What state are you in now?
     
    Arky, Sep 19, 2014
    Arky, Sep 19, 2014
    #28
  11. Sep 19, 2014 #29
    cwill187

    cwill187 Bobtail Member

    22
    1
    Sep 17, 2014
    0
    Massachusetts
     
    cwill187, Sep 19, 2014
    cwill187, Sep 19, 2014
    #29
  12. Sep 19, 2014 #30
    Bankrobba99

    Bankrobba99 Bobtail Member

    29
    16
    Feb 22, 2014
    Tx
    0

    Strongly advise you to concentrate on the job and invest your earnings passively until you learn much more about being a landlord.

    Trust me, your not ready yet. Been there doing that.
     
    Bankrobba99, Sep 19, 2014
    Bankrobba99, Sep 19, 2014
    #30
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