Minimum needed to live the dream

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Author: [Las Vegas] Topic: Minimum needed to live the dream
Qncyk1 PM Qncyk1
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Posted: 7/27/2012 10:12:21 AM
QUOTE Originally Posted by Danrules24:

In the community where I bought a 1590 sq foot condo should fetch 1350-1500 a month. Built in 2006.  

 

depending on the quality of constuction, you are probably very close to build costs.  $1.00/ per sq.foot for rent is great at that price. if you guys are looking for rental income you should definately go with a sfr. no homeowners association costs and generally better tenants.

Danrules24 PM Danrules24
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Posted: 7/27/2012 6:11:10 PM
QUOTE Originally Posted by Qncyk1:

 

depending on the quality of constuction, you are probably very close to build costs.  $1.00/ per sq.foot for rent is great at that price. if you guys are looking for rental income you should definately go with a sfr. no homeowners association costs and generally better tenants.

After I make the move in 2 weeks, I will start looking for properties to buy that I can rent out. Yes a sfr is better for a rental for many reasons.

 

jecht PM jecht
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Posted: 7/29/2012 2:12:43 AM

Being at the LVH sportsbook would be my full time job.  I would show up when it opens and leave when it closes because I want to be their for the in game bets, and if someone wants to retire and wants to leave their empire to someone who is going to hit locks for them on a regular basis.  Well then I want to be their to show my skills.

Jbiggs787 PM Jbiggs787
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Posted: 7/29/2012 8:00:34 PM
Just buy a repo house for around 30K and that takes care of your rent situtation forever and yes you can live by just gambling even if you are half way decent at sports betting. Don't listen to any of these idiots who don't know what they are talking about,they are just jealous.
shadowman666 PM shadowman666
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Posted: 8/1/2012 11:19:43 AM

ok this is the type of topic that ive been waiting on someone to put out here to talk about.....and im gonna make this type of move just that im gonna do it online.....why go to the desert to bet on sports when i can do it from anywhere in the world...online sports betting is a god send for some of us.....ive tracking my own personal record and im way ahead of the percentages required to sustain ones self.....ive learned that you have to disiplined in making sure that u stick to the sure money and dont try to be cute with your bets or try to be the next sports crystal ball.....stick to the odds and you can easily support yourself atleast while there is football and basketball to bet on ....and i say that because i have not mastered baseball....chow

shadowman666 PM shadowman666
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Posted: 8/1/2012 11:25:50 AM
but before u make a power move like this u better be up to par on two of the big three....between college football , nfl , ncaab, and nba u got roughly 9 months of betting......after that all u got is mostly baseball.......euro soccer tournament, wimbledon and whateverelse just not gonna cut it for me...
CannedGoods PM CannedGoods
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Posted: 8/1/2012 11:35:44 AM
QUOTE Originally Posted by Jbiggs787:

Just buy a repo house for around 30K and that takes care of your rent situtation forever and yes you can live by just gambling even if you are half way decent at sports betting. Don't listen to any of these idiots who don't know what they are talking about,they are just jealous.


What's funny is that if you were to actually do it for a living, you'd probably fare better than if you were just doing it recreationally bc if you darn up you darn UP, so you'd actually use proper money management and not bet the entire board.  Just bet one play a day and if it cashes you know you're good.
Qncyk1 PM Qncyk1
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Posted: 8/1/2012 4:38:55 PM
QUOTE Originally Posted by shadowman666:

ok this is the type of topic that ive been waiting on someone to put out here to talk about.....and im gonna make this type of move just that im gonna do it online.....why go to the desert to bet on sports when i can do it from anywhere in the world...online sports betting is a god send for some of us.....ive tracking my own personal record and im way ahead of the percentages required to sustain ones self.....ive learned that you have to disiplined in making sure that u stick to the sure money and dont try to be cute with your bets or try to be the next sports crystal ball.....stick to the odds and you can easily support yourself atleast while there is football and basketball to bet on ....and i say that because i have not mastered baseball....chow

be careful with the online books as one day a book might take the money and run like some hedge fund. there is no recourse and if they close shop you will never see your money.

i agree with you that if you have faith in a book then there is absolutely no reason to live in LV. i live in mexico and pay 4 percent for each play, pisses me off, but i just dont trust a book. holding my money.

ShadowWarrior PM ShadowWarrior
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Posted: 8/4/2012 1:50:53 PM
LVjunkie and NYSlim are both doing it in LV.  LVJ has a journal in MLB forum and is doing well.  Slim is settling in and probably having a ball.  My neighbor of thirty years will be leaving here for Summerlin.  Tired of the high cost of living here and feels his dollars will stretch further there.  It will, as long you don't gamble it away.
UglyMikey PM UglyMikey
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Posted: 8/10/2012 7:42:16 AM

400 plays a year ( $550 to win $500 )

56% = $15,200

58% = $23,600

60% = $32,000

You are going to have to hit at least 58% to do it.

jecht PM jecht
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Posted: 8/11/2012 2:07:53 AM
If you have a costco membership their wouldn't be a food expense because you can just stock up on free samples during lunch or dinner time. There is a Costco in Vegas and all Costco's give unlimited free samples of foods that are on the menu list for the day.  Lunch and Dinner have different menus.
ShadowWarrior PM ShadowWarrior
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Posted: 8/11/2012 4:08:45 PM
Some of the casinos have very cheap graveyard specials.  Eats can be very inexpensive if you know where to look!
golfkat PM golfkat
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Posted: 8/13/2012 8:14:03 AM

That is the life.  I lived it for over twenty five years.  Playing high stakes poker (over 20-40) betting the sports over 200 a game.  No job to worry about, sleep all day and gamble all night.

JuiceSqueezer88 PM JuiceSqueezer88
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Posted: 8/13/2012 9:44:03 PM
As a poker dealer, I get my fix of the game easily fulfilled, and my bankroll always has that extra padding. I would never consider quitting dealing to play for a living, but I love to travel to AC, LA, and Vegas to play for 7-10 days at a time and get a piece of that "lifestyle". Limit Hold'em games $20/40 to $40/80 is what I prefer to play. I also take occasional trips to nearby casinos where the lower stakes $2/5 NL action is very good. I keep very good track of my bankroll, recording wins and losses, and overhead expenses. I do very well playing, and feel like I could probably do it for a living, but I think overall, it would eventually take the enjoyment of the game away from me.

I have two friends who have successfully move to LA and Vegas to play for a living, and they love the lifestyle. The built their rolls on Stars though, so their bankrolls are obviously pretty big. One plays big limit games like $40/80 and up, the other is a $5/10NL player who also travels to Cancun to play online still.

I would say to live this lifestyle (I don't consider it a dream), and be successful, you have to start way ahead. So to me $100k is pretty realistic, if you're grinding a game like $2/5NL or $10/20 Limit for your income. Those would be the lowest stakes you could potentially profit around $ $800-1500 a week in IMO.

Just like in all gambling, you must be able to handle the swings too. Gambling for a living is like what this old guy told me one time when I asked if he wanted more chips. He looked at me and said, "Nope! Look here son .... sometimes you're the bug, and sometimes you're the windshield."
JuiceSqueezer88 PM JuiceSqueezer88
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Posted: 8/13/2012 10:09:03 PM
QUOTE Originally Posted by Beergut:



At a minimum, I think it would be $25000, if not more. Figure you need $10000 to pay for one year in rent at an apartment, including any security deposit. You need a $10000 bankroll to start out with, at a minimum, because even if you are betting small and only winning $100 a day, that bankroll ensures you 100 days of betting.



Some thoughts I should have mentioned this in my above post.

Not to bash you or anything, but this figure is nowhere near close to realistic. I usually take about $15-20k on a trip when I travel. Granted, I am playing decent stakes poker, and usually staying in a nice room, but most of my room and food expenses are comped.

If you are going to gamble for a living, and plan on making $100 a day you have to think logical. That is, in no way, shape, or form, going to be a "comfortable" living. Which is really what the "gambler's lifestyle" or "dream" is all about. Living lavish, with a nice house and car. Doing whatever whenever you want. Just think about your scenario for a second. Grinding it out 7 days a week to make roughly $36k a year at best. It would be exhausting, and eventually you would hate it (betting or playing poker) because you'll get tired of the f*cking low stakes grind.
Qncyk1 PM Qncyk1
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Posted: 8/14/2012 1:41:40 PM

if you have no expenses(housing,loans), everything is paid off and have no debt with an income of $3000.00/month coming in and live in a foreign country where your daily expenses are half that of the states, this is a "dream" for the single average american male.

if you live a normal life(not an alcoholic,drug addict,spending junkie) you can live very, very, very well on 3k/month.

 

 

Qncyk1 PM Qncyk1
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Posted: 8/14/2012 1:46:17 PM

regarding my above post, if someone is living the above scenario and tells you that it is not a "dream" or a "gamblers lifestyle" they are either full of garbage or have never been in this scenario.

3k/month in mexico and your house and everything is paid off and your single and this is not "living the dream"?

only on covers where everyone is a millionaire.

lmfao.

ShadowWarrior PM ShadowWarrior
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Posted: 8/14/2012 8:43:04 PM
Yes you can go to many third world countries and live like a king.  Your US dollar would provide much in say Thailand or Phillipines or Vietnam etc.  But I do not know where u would go for medical care?  Japan maybe?  Wherever u r should be your dream because if you are not happy, the place won't make a difference.  Fortunately, Hawaii is a pretty decent place.  I can go to LV or go to surf, my choice!
BURG2VEGAS PM BURG2VEGAS
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Posted: 8/15/2012 7:32:08 PM
i live the dream all the time sure 25k would be great wonderful,but try 10% of that 2500, may sound crazy but i do it all the time,sometimes with even less,now truth be told the dream isnt complete because it dosent always workout to the good,however more times than not i end up staying in decent hotels for up to 3 months run my roll up to over 10k in a short amount of time eat the best food in the world go to the best spas bet and collect at the window play a ton of poker sharpening my game up,but in the end living like that {spending winnings}while progressive betting,moving up bets sizes increase your risk to ruin, which can also be your downfall which it has been mine more times than not, but hey i live the dream 3 4 times a year sometimes it works out sometimes it dont,and when it dosent i can pinpoint why it didnt improper br management, but the flip side is the high risk to ruin can be good large short time scores which we all like
JuiceSqueezer88 PM JuiceSqueezer88
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Posted: 8/19/2012 2:40:18 PM
QUOTE Originally Posted by Qncyk1:

if you have no expenses(housing,loans), everything is paid off and have no debt with an income of $3000.00/month coming in and live in a foreign country where your daily expenses are half that of the states, this is a "dream" for the single average american male.

if you live a normal life(not an alcoholic,drug addict,spending junkie) you can live very, very, very well on 3k/month.


It's called reality, there are always expenses. We are not talking about living in other countries either. The OP was about moving to Vegas, where the cost of living is rather expensive. 

808buckeye PM 808buckeye
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Posted: 8/21/2012 12:28:03 AM
Vegas will eat your a$$ up and spit your a$$ out!
newyorkslim PM newyorkslim
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Posted: 8/21/2012 12:53:27 AM
I live here. It will only eat you if you allow it to. Stay smart. Put your money through the windows, Pick winners - and you will be fine. 


Most people believe its impossible because they don't have the guts to do it. 

I won $2100 on tonight's game and tomorrow have a date @ 3pm at a dive desert bar. 

Thats me. what are you? 


mafioso PM mafioso
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Posted: 8/21/2012 3:52:35 AM

Not to be cynical towards NYSlim as I kinda like his style but I gotta ask, You say you won $2,100.00

What did you risk and what is your starting bankroll?

Because if your bankroll is 70K

You can bet 2310 to win 2100 and be okay

If your bankroll isnt 70K and you are betting like that, Ill give till about week 11 of the NFL season before you go bust, and I hope and pray that was a baseball game you bet that money on and not a preseason football game.

ShadowWarrior PM ShadowWarrior
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Posted: 8/21/2012 11:50:09 AM
Taxes?
newyorkslim PM newyorkslim
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quote#100
Posted: 8/21/2012 9:22:29 PM
QUOTE Originally Posted by ShadowWarrior:

Taxes?

yes, I make sure I put aside at least 50% of my winnings so I have enough to pay at the end of the year....

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