/biz/ - Business & Finance

>>568126
>They all seem to make their money in rental properties and properties in general.

Real estate wealth is often an incomplete picture. Two examples:

1. I own 3 rental properties. How'd they get off the ground? Directly through money earned in my outside career. Some of my friends think I'm doing well because of the houses but in actuality they're not much better than an index fund (when taking into account the value of my time). They're simply more visible.

2. Middle class people fall for this one all the time: "Your home is your best investment!" Far from it. More like a forced savings plan that tracks inflation but also eats through money.

>>558167
Just invent a time machine and you may almost break even.

>>530261
Net worth, approx:
t-4: 25 and $40k. End of wage slavery one year away.

t-2: 27 and $120k One year into business and turning a healthy profit already. Bought first rental property.

now: 29 and $235k Business humming, easing back on the hours and trying new projects. Three rental properties.

t+2: 31 and $400k+ Four or five rental properties. Another business if I come across something interesting, or perhaps keep building the main one.
t+4: 33 and $1M+ Six to ten rental properties. Full time manager. Perhaps sold the current main business and doing something entirely different.

Do what it takes to be self employed, kiddos.

Instead of a quad in coon town look in halfway decent neighborhoods for a duplex.

Live in one half and rent the other out. Get owner occupant financing without having to lie.

When it's time to sell, pocket the capital gains tax-free since you'll meet 2 year residency and ownership requirement (US).

This is the best real estate advice you will ever be given. You're welcome.

>>509262

>>500904
>lazy nigger

>>491600
If you have an accounting degree already go for the 5th year and sit for the CPA. In general it's worth more, but not necessarily enough to justify being out of the job market for 5 years.

If you don't (or don't want a boring as fuck accounting job) become an EA.

I love doing tax resolution work as an EA and I'd kill myself if I had to do traditional CPA work. The pay is what you make of it with an EA.

>>487812
>basic financial advice
>as bad as Kiyosaki

You're a fucking idiot.

rip it in half
now you have two 20's
that = 40