That business took off and morphed into a much larger operation under the umbrella of a hedge fund-backed operator and I resigned due to a major falling out with my partner about a year ago that spiraled downward, and realizing I made/saved enough money and passive income to spin off and do my own thing.

(http://www.autoadmit.com/thread.php?thread_id=3842367&forum_id=2#35025554)

what are you going to do now?

(http://www.autoadmit.com/thread.php?thread_id=3842367&forum_id=2#35025564)

after that, I have people on me to make the lightning strike again so I'm going to figure out whether there are any margins left to be made given the bubble that's inflated since I started. I also want to work on becoming a slumlord.

I have a goal of $10k or more per month passive income by 40 so I retire young and travel. I'm 33 now. I think I can do it.

(http://www.autoadmit.com/thread.php?thread_id=3842367&forum_id=2#35025629)

the aspiration is the freedom to do what I want without having to exchange nearly all of my waking hours for money

I would have loved to volunteer to do disaster relief in Houston, for example, but I don't yet have the freedom to do that. I want to travel and have the freedom to stay longer than an agreed upon amount of time RATFACE 9000 allows me to have.

shit like that.

(http://www.autoadmit.com/thread.php?thread_id=3842367&forum_id=2#35025750)

you have your own company, why not work as much or as little as you want.

(http://www.autoadmit.com/thread.php?thread_id=3842367&forum_id=2#35025769)

you have to work biglaw hours and have no fun until the market indicators tell you shit is going to turn, have the balls to quit or spin off like I did, and hope for the best. traveling and fucking off during a boom is throwing money away.

(http://www.autoadmit.com/thread.php?thread_id=3842367&forum_id=2#35025828)

like I said, my focus is passive income so I'm probably going to focus on slumlording

(http://www.autoadmit.com/thread.php?thread_id=3842367&forum_id=2#35025923)

where do i sign up

(http://www.autoadmit.com/thread.php?thread_id=3842367&forum_id=2#35025576)

I started right after the big oil price crash when nobody else was doing it so that was the equivalent becoming a mortgage broker in 2001 and riding it until the top of the market.

(http://www.autoadmit.com/thread.php?thread_id=3842367&forum_id=2#35025605)

liquid as the motherfuckin ocean

(http://www.autoadmit.com/thread.php?thread_id=3842367&forum_id=2#35025641)

BA from a party school

(http://www.autoadmit.com/thread.php?thread_id=3842367&forum_id=2#35025734)

I was extremely lucky not to get PWNED because there was a huge need for title attorneys and landmen when I graduated and I am a reasonably good hustler and have a knack for running title.

that need has largely dried up, and your alternative with those credentials is shitlaw which usually makes very little money unless you're a tycoon type like CSLG, which most lawyers seldom are.

(http://www.autoadmit.com/thread.php?thread_id=3842367&forum_id=2#35025802)

it's really dumb too - the shady types get away with their bullshit like once or twice usually before everyone realizes never to do business with them, then they go bust and fade away

(http://www.autoadmit.com/thread.php?thread_id=3842367&forum_id=2#35027876)

are you saying we should SELL right now asap as prices will drop soon?

we feel like we're getting screwed with some company that wants to put up our place and take an 8% commission.

(http://www.autoadmit.com/thread.php?thread_id=3842367&forum_id=2#35025752)

1) is it leased or HBP by an old well? if so, what is the royalty rate in the lease?

2) is there activity by a recognized shale operator nearby, within a few miles in any direction? (e.g. Devon, Newfield, Continental, Cimarex, Newfield, Citizen)

3) have you or your neighbors received other offers?

4) did you receive the offer from the commission-taker blind? is it a company you've heard of before?

(http://www.autoadmit.com/thread.php?thread_id=3842367&forum_id=2#35025778)

it's hard to judge because royalty income fluctuates based on oil prices and declines in the wells. I have a broadly diversified portfolio all over the state, and I estimate at full development it could touch $9000-10000 a month before dropping precipitously after a few years

oil companies drill multiple wells off one pad now so I get huge spurts in money when 4+ wells come online all at once then it settles down.

this is why I want to start slumlording because vacancies are much easier to predict and handle than this rollercoaster bullshit

(http://www.autoadmit.com/thread.php?thread_id=3842367&forum_id=2#35025900)

You need to find and ruthlessly exploit a micro niche

(http://www.autoadmit.com/thread.php?thread_id=3842367&forum_id=2#35026056)

this is why people who do terrible jobs like cleaning fucking septic tanks for a living, but do it better than anyone else, can be multimillionaires. Dirty Jobs showed hundreds of examples of this

(http://www.autoadmit.com/thread.php?thread_id=3842367&forum_id=2#35026066)