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/biz/ - Business & Finance


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11953214 No.11953214 [Reply] [Original]

Anyone here not a teenage brainlet who freaks out over their $500 investment in crypto every time the market moves?

I'm 32 years old and about to inherit a modest real estate portfolio. I currently have about 1.2MM worth of real estate to my name (was transferred to me a few years ago), and stand to inherit an additional 5.5MM. None of the properties have any liens or mortgages, so all generate income at around a 3% cap rate... which is not amazing, but all these condos are in popular US cities, so the value growth of the property itself is enough to offset lower cap rates.

So basically:
I have 1.2MM in properties that I can use to take out a HELOC at about 60-80% (according to some preliminary talks with loan brokers, they could just be trying to pull me in, 80% sounds high, but 50% is definitely doable with large banks such as BOA.
Every month I get about 2.5k net income which I use to live, and the property I live in is currently owned by my parents which I should inherit within 4-5 years. Worth about 1.4MM.

What should I do? I've been encouraged to continue buying properties by taking out loans, and using rental income to pay off the mortgages and carrying costs... but I don't really feel like doing that. I feel like 6-7MM worth of real estate and passive income is enough, and instead of doing the same thing my parents did I should use this in a different way.

I'm also not comfortable with taking out massive loans since I think we're in a currency bubble, and thus an everything bubble. I'd much rather try to use passive income and my sizable savings (about 350k, mostly from crypto last year, also own about 40k in stocks, still have 50k in crypto after this crash) to make a move. Any suggestions Biz? I'm home for the holidays in the boring town I grew up in so I will be here all night.

>> No.11953380

do what Trump did and make your daddy proud

>> No.11953391

>>11953214
nice blog faggot

>> No.11953465

>>11953214
First, I would absolutely avoid HELOC at any and all costs. Just a terrible product.

Other then that I'd be curious about a few details. Where is the $2.5 k monthly income coming from? Is that your current income or the income generated off your current properties? future properties?

You should have some solid cash flow off the $5.5 mil in new properties - especially if they are condos in popular cities. Do you have a projected month rev off those properties?

Without having a clear picture of the details your best bet is to take the income off your current properties and snowball them into new units and continue to grow your empire. With a total of $6 mil+ in real estate you really shouldn't be in a position to need to borrow more money to continue to add to it and you certainly shouldn't go backwards with a HELOC.

Not really sure what your trying to ask biz? Yes you should continue to buy more real estate, no you shouldn't borrow money to do so.

>> No.11953493

Nice blogpost faggot

Your only way to make it is to buy kneepads im sorry bro

>> No.11953515

>>11953214
ultra spoiled lazy noob

>> No.11953535
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11953535

I want rights titties on left.

>> No.11953554

>>11953214
>I'm 32 years old
You were 33 on /fit/.

>> No.11953568

>>11953214
37 yo, life a disaster, literally + unironically relying on my 10k stack of LINK to save me. i need it to hit 100$'s within next 12 months or i might an hero.

>> No.11953588
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11953588

>>11953214
>0/10 Larp
>Copy pasta

>> No.11953601

Are you the guy that asks for advice, then criticizes all the advice he gets?

Bring back the old pasta at least where you offered money for good advice then didnt pay lol.

>> No.11953611

>>11953535
we're reaching levels of based and redpilled that are unimaginable

>> No.11953624

>>11953214
Invest in ROPE

>> No.11953626

Is this now pasta? I actually posted a serious reply yesterday.

>> No.11953653 [DELETED] 
File: 558 KB, 1815x909, tzeroflo.png [View same] [iqdb] [saucenao] [google]
11953653

Oh,by the way,if you think that the next bull run will pump your alt coins like LINK,TRON,XRP that are sitting in the hundreds of millions market cap,prepare to be FUBAR'd

There are tons of blockchains with high potential that sitting under 10M in market cap.Those will be the ones who replace most of the SHIT you see in the top 200

FLO will RISE like EMERALD COBRA
10-20x

https://medium.com/@valueprop/florincoin-the-tzero-connection-66697c81c873

Reasons why Tzero/Overstock use FLO

1.floData is accessible and easy to read. You don't need to decompile a smart contract or have a special software to read it. It's in plaintext on the chain.This helps with auditing and explaining how it works to regulators. Any extra steps are a barrier to adoption.
2.floData is easy to write. It is appended to the blockchain using a simple RPC command. This makes maintaining the software around the solution less costly.
3.FLO is a fairly launched blockchain with no premine or ICO. Again, this helps for practical regulatory reasons, but also is a philosophical choice made by those who maintain the software. It guides the decision making for our software and also allows those implementing it to check off a box they couldn't check using another chain without those features.
4. FLO has open source software built on top of it (OIP) that can be used for building more advanced applications (this is how etdb.caltech.edu became a thing).
5. FLO's main use-case is floData, unlike other chains who support complex smart contract languages and operations unrelated to storing data. Sometimes it's best to use a tool that's meant to perform best at a single job rather than bringing around a Swiss army knife and using it for only 1 of its functions.

Look for free and fairly launched coins.They go to BINANCE.

Follow @cz_binance. Retweet.
Back to listing. Ravencoin, no ICO, community project, humble people, no listing fee.

Check out the binance description page for FLO.Look how similar it is to RVN

>> No.11953748

>>11953214

I wouldn't take out real estate loans if you don't know anything about real estate and have no interest in being in that business. If you were actively involved managing your parents portfolio (under their watchful eye) dealing with tenant and taxes for the last decade then that's a different matter.

A M in property could be a few condos depending on location with a few long term good established middle aged tenants.

Where I live that would be 15 2-3 bedroom flats with 30 tenants moving on average every 24 months. My landlord and his family have 40-50 properties worth 60-250k from 1 bedrooms flats to 7 bedroom multi occupancy properties. They have many mortgages too.

My landlord gave 14 days notice to vacate after 3 years because my flat-mate was leaving after previously agreeing to rent to me alone, only proof was a text message. His agents illegally entered the property in the last month for viewings without consent or notice, and then let the property to said viewers at a higher rate. I checked his website, sneaky LL had been advertising the property without my knowledge at a higher rate, this would be a £100pm increase + £500 in fees provided I left on the 31st uncontested.

I told him to go fuck himself this is how. I said openly...
>I would not vacate, social housing is only available if evicted on advice from the council...

>I would not pay his rent for the last month, + he could only take me to court after I exceeded into 2 months arrears which is besides the point, eviction takes 2-3 months and accelerated would fail due to his text message. So thats 3 months rent @ £550 a month rent he loses at minimum.

>Landlord hit back that (my friend would be jointly liable, he agreed to this btw, he already had his mortgage agreed) Our agreement was I would pay but it would buy me 2-3 months to get a new tenancy enforced.

I'm just getting started btw.

>> No.11953801

>>11953748
You sound like a total piece of shit. That’s why real estate investors should buy in wealthier areas and rent to young professionals who will pay on time and move out when they find a spouse, unlike retarded forever neet faggots like you who are a plague on society

>> No.11953830

>>11953214
Three things:
1. You need to diversify.
2. If you don't know much about real estate, invest in something you know more about.
3. Loans are great if interest is lower than roi.

>> No.11953926

>>11953214

Don't pull equity out of your properties. Just invest the cash flow in startups. If you pull money out and loose it, then rents drop, suddenly you loose your properties. If you have 7M in properties with 100% equity you are probably near $300K/yr in income. If that isn't enough you are doing something wrong.

>> No.11953959

>>11953748

continued...

>During this time I would go to court and get the new tenancy enforced in my name for 1 year based on a text message. I would also submit evidence the landlord was advertising the property at a higher rate after agreeing to rent to me. And evidence he illegally entered as he would have to prove consent.

>Now I would have 1 year tenancy in my name. I can skip rent for 6 month on a new fixed tenancy before eviction could be processed. (I would pay off anything relating to the previous joint tenancy with my friend as I'm not a cunt). Landlord is now £550 x 6 + £550 x2 for the additional 1-2 months to evict me. So he loses the property for 7-8 months minimum with no rent.

>Potential 2000w PA Party flat which neighbours 5 properties he owns.

>Here's the kicker. He is then responsible for housing the new tenants until I vacate, so even if I pay an entire year and don't skip rent he loses. They paid his deposit, they wanted in the house I was renting. And I had spend money decorating as I'd been there 3 years so I felt attached. Your house, my home.

Here is what happened, he offered me 2 rooms in a HMO at reduced rent. I told him to go fuck himself.

Eventually he offered me a bigger property down the road 10 houses down for 60% market rent. I accepted, refused to let him run any checks or fees and have lived here for the past 3.5 years without paying late once. Changed locks first day and he has never so much as checked the property.

His new tenants were 2 migrant workers who didn't pay rent, ended up actually being 5-7 migrants workers living there. I would see them drinking bottles of tyksie on the street on Sunday mornings regularly. They skipped bills because they managed to re-opened some in my name. They also had the bailiffs around for unpaid council tax.

My question is, are you ready for a private tenant like me? My actions on refusing to leave were driven by sticking it to some little rich boy.

>> No.11954007

>>11953959
Loooool. Sounds like you’re abusing a simple minded slum lord. Try that with someone with tens of millions and they’ll probably have you killed

>> No.11954063

>>11953801

Oh shut up. Read the rest. I am a private tenant and never claimed benefits in my life. I was 25 at the time and I simply would use the argument in court that I require to be housed in social housing to ensure the new tenancy is enforced.

The landlord had no problem with me redecorating the flat out of my own pocket after he agreed to let to me alone. It's not my job to reorganise my life in 14 days because some rich kid wanted to play win-win-win. I didn't just spent 4 days repainting and £200 on paint for his next tenants so he could accepting me as a tenant while trying to get tenants in for £1700 extra with the intention of kicking me out without notice.

I paid rent on time for 3 years and he had to provide 2 months notice if he wanted me to move out. He tried to pull a fast one and entered illegally rented to more tenants at a higher rate and he learned a lesson.

I'm not suggesting OP is like my landlord, but I'm letting him to know exactly what he's up against going into rentals. I am the perfect tenant, but try to pull shit like that and I can be the worst tenant you will ever have. He needs to know his local laws and be shit hot on it if he's going to become a mortgaged up landlord.

>> No.11954116
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11954116

> about to inherit

Stopped reading after this

Once you start from the ground up or with very little - then y’all.

>> No.11954134

>>11954116
*talk

Autocorrect sucks on iPhone

>> No.11954263

>>11954134
>using a fruit phone
wew lad

>> No.11954294

>>11953214

sauce plzzzz

>> No.11954304

>>11954294
Nicole Kopchak

>> No.11954366

>>11953214
girl on the left would be so jelly of them tahtahs

>> No.11954367

passive income is the best kind of income as you don't have to do much to get money so just keep it growing faggot

>> No.11954419

>>11954367
>passive income is the best kind of income as you don't have to do much to get money

can we please make this a banner on /biz/

>> No.11954428

>>11954063
Wow, what an absolute faggot you are.

Exploiting society's rules to protect impoverished tenants from being abused so you can get as much free shit from the system as humanly possible.

You ARE a piece of shit, kill yourself you fucking loser. How do you look at yourself in the mirror?

And no, I highly doubt I'm going to deal with a tenant like you because pieces of shit generally can't afford 4k/month rent.

>> No.11954683
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11954683

>>11953214
hey how's it going

listen I don't mean to be rude but how much for one of those thots?

>> No.11954817

>>11954683
probably 50-70k for a weekend.

>> No.11954862

>>11954304

the one on the left is vastly superior

>> No.11954931

>>11954683
$200 for them both for 30 minutes
no kissing, no anal, no perverted stuff, only vaginal sex

>> No.11955002
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11955002

>>11953214
Copy pasted a previous reply:

There's no one right answer. My rule of thumb is:

20% Boring af stuff (bonds)
20% Physical stuff (art, real estate, collectibles, magic cards if you want who cares)
20% Safe bets (blue chip stocks)
20% Rising stars (Amazon)
20% Retarded but amusing crapshoots (Chainlink is worth it just for the memes, Spotify IPO, Invest in a friend's startup)

Stay the fuck away from IPOs and ICOs unless you put them in your retarded 20%

>> No.11955141

>>11955002
gay

>> No.11955155

>>11953214
heavy larp

>> No.11955671
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11955671

>>11955141
that costs extra fren

>> No.11956057

>>11955671
How do you have a rule of thumb when the most you've ever had in your checking account is 140 dollars?

>> No.11956192
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11956192

>>11953214
>who freaks out over their $500 investment in crypto
Try $200000 you fucking nigger. My life basically depends on crypto succeeding.

Not saying I would kill myself if crypto fails but if it reaches new ATHs it would put me 15 years ahead in life economically and I'd have to worry less about wagecucking and more about doing what I actually want to do.

>> No.11956386
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11956386

>>11956057
I make 145k a year fren and own a house, an art collection, a 401k, and made money on crypto. But you are right I usually have $100 in my checking because I am terrible with money.

>> No.11956614

>>11956386
>muh art collection

I have a painting that was valued at around 1MM by Christie's and Sotheby's. In fact I was in discussion with Christie's for over 6 months because they wanted to auction it as part of a larger collection, and thought I could get a great price for it since no one in the world has ever seen it before.

>> No.11956658
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11956658

>>11956614
I have a lichtenstein and a shepard farey I bought my sister. Glad to hear you're enjoying your collection.

>> No.11956775

>>11956658
Lichtenstein, nice.... very nice.

Shepard Farey is garbage though.

>> No.11956799
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11956799

>>11956775
It's for my favorite sister fren. Not sure why you're mad. Also I think someone is making you a copypasta.
>>11955788

>> No.11956819

>>11953214
Plz....who are they?

>> No.11956828

>>11956799
I'm not surprised, threads like this always draw out actual information and are a welcomed break from the retarded low IQ shilling that goes on here. I post here often and many of my posts get turned into memes, it's flattering.

>> No.11956839

>>11956819
>doesn't know how to reverse image search

you're never going to make it

>> No.11956841
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11956841

>>11956828
something tells me you are single fren

>> No.11956849
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11956849

>>11956841
forgot to tripfag

>> No.11956850

>>11953568
You wont an hero shit pussy fag boy

>> No.11956860

>>11956849
>>11956841
Only because I want to be

How much is your lich worth?

https://www.christies.com/LotFinder/lot_details.aspx?intObjectID=5946119

Didn't know he sold for THAT much

>> No.11956907

just throwing out random ideas

-start a farm
-start a technology company
- do nothing... literally nothing you lazy piece of rich shit.. you'd fuck up anything you try
-start a family
-join a cult and give them all your money and time
-literally anything you want you can't lose because even if you fuck up you can just use your money to out money the money problem you made.
-start a security firm based around executives and digital media exposure

>> No.11956924

>>11956658
how much did you buy your sister for again?
just curious because usally when people buy gifts for others they don't consider it theirs so clearly you meant to say you bought your sister

>> No.11956929

>>11956839
It leads to the fucking chive tard. I need names

>> No.11956939

>>11956929
Which leads to Boutine L.A

>> No.11956949
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11956949

>>11956860
Not much but there's a cool story behind it. It was a signed lithograph a dealer wanted 6k for. I did some internet research and found out it was a screenprint, not a lithograph and busted him with the guy who rented out the spaces. He let me name my price, I said I'll pay 2k. That alone was worth it, plus I have a giant signed lichtenstein now.

>>11956924
Sorry I am ESL. I paid $700 for it, me and the guy who owns that store and I are bros now so I always get a discount. Great fren.

>> No.11956988

>>11956929
>>11956939
ask nicely faggot and maybe I'll tell you

>>11956949
nice, how do you know the signature is authentic?

>> No.11957002

>>11956988
I said please

>> No.11957003
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11957003

>>11956988
Because I found the auction he bought it at. It was the real deal, he just tried to scheist me and sell it as a lithograph for 6k. I told the owner he can double his money (2k).

https://www.bonhams.com/auctions/22375/lot/3121/

>> No.11957021

>>11957002
well say it again faggot.

>>11957003
very nice

>> No.11957025

>>11957021
Please

>> No.11957043

>>11957021
what part of the country are you in? I can connect you to some VCs and startups if you're really interested and have cash to burn.

>> No.11957069

>>11957043
San Diego

>> No.11957072

>>11956386
>art collection
Unironically based, thanks for being one of the good ones fren

>> No.11957093
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11957093

>>11957069
Have you thought of moving up to LA and investing in "Silicon Beach"? Lots of startups there and they do fun interesting stuff.

>> No.11957102

>>11957093
I lived in LA for a few years, and still have many friends up there.

Virtually everyone in LA is a loser, and 90% of silicon beach start ups fail because LA has no culture of work ethic.

>> No.11957115
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11957115

>>11957072
Thanks fren. This is one of my favorite ones, it's a friend of mine from the east coast. I have some that are probably worth zero, some brand names.

>>11957102
So if you know how to make these startups better why not move up there and start a VC firm? Sounds like they could use your help.

>> No.11957129

>>11957115
Art is one of the few things left in life to live for fren. I unironically want to make it so I can purchase a Klimt, just to look at, not even for the investment.

>> No.11957163
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11957163

>>11957129
Which one fren? Love klimt. Have you seen the portrait of adele bloch bauer in NYC? Este lauder bought it for 150 million but you can go see it easily.
https://news.artnet.com/exhibitions/neue-galerie-klimt-adele-283188

My impossible art piece to own is david with the head of goliath by Caravaggio. I don't think you could even buy that, and if you could probably a billion bucks.