/biz/ - Business & Finance

>>16466053
I'd probably fuck him

Looks like he'd be a mean drunk.

>>16466053
I'd probably fuck him

Yellow kike

>>16466053
BASED DAD CRINGE DAD
What the Based and Redpilled Teach Their Kids About Shitposting
-That the Cringe and Redditors Do Not!

>>16466111
trips confirmed

>>16466053
He makes fun of wagies for buying the top in 2008, even though they paid 25k to attend one his seminars where he told them to go into debt to buy real estate.

>>16466168
Sounds like our guy desu

>>16466168
Not gunna lie he knows how to make money off retards, I want to know he he does it so I can get all that debt money from normalfags.

>>16466053
he's right but most of the people here have already gotten the max benefit they could out of him
he's great for blue collar people though, who have a mentality where they spend money to escape misery rather than saving it to escape misery
that's the big secret he's got and its really powerful for the kind of person who just never got that kind of education, but useless beyond that simple fact
the truth is by sitting here dwindling your savings away on crypto or stocks, you're at least giving yourself a shot at profit as opposed to dumping all your money on takeout

>>16466203
>I want to know he he does it so I can get all that debt money from normalfags.
happened in 2017, will happen again in 2021

>>16466220
if you're wrong anon I'll send the jews after you

I read his book as a teenager. Woke me up and made me aware I didn't want to wagecuck. Still dont want to wagecuck so now im just depressed.

>>16466233
https://www.cnbc.com/2017/12/11/people-are-taking-out-mortgages-to-buy-bitcoin-says-joseph-borg.html

https://www.cnbc.com/2018/03/23/college-students-use-financial-aid-money-to-invest-in-bitcoin.html

https://www.cnbc.com/2018/01/11/taking-on-debt-to-buy-bitcoin-is-a-bad-idea.html

>>16466251
I recently got fired not to long ago, and pretty much refused to get another job after that, so for several months I've been looking into social marketing so I don't have get out of my house to work under some underpaid retard ever again.

>>16466277
This is fucking retarded these kids are going to keep digging deeper into debt, that's not smart money management

From what I learned so far good debt is used to generate more money not take a chance on he stock and crypto markets.

>>16466277
>December 11, 2017
>People are taking out mortgages to buy Bitcoin

OH NO NO NO NO AHAHAHAHAHAHA

>>16466305
In short good debt creates positive cash flow, not just more money. You buy assets that generate steady income for you rather than merely appreciate in value. Capital appreciation is good in its own right but it is illiquid and does not pay your bills just sitting there. Bad debt creates negative cash flow. You bought a liability that only costs you more money. Buy as many assets as you can and limit your liabilities as much as possible. When he says that the rich do not work for money this is ultimately his point.

>>16466474
What I want to know is I want a big want a big house, but it will be a liability how do I turn a place that I live into an asset? can I not live in the asset because it would be a liability?

>>16466053
He's a mixed bag. On the one hand he is based for being a goldbug with disdain for central banking and his central philosophy of buying assets in order to generate positive cash flow is fundamentally sound. On the other hand when you read up on him his aura erodes until you develop a healthy layer of skepticism towards anything he advises or claims. Tread carefully with him.

>>16466507
Kiyosaki argued that owning a home is a liability because of the hidden costs of homeowning plus the regular mortgage payments and property taxes. All of that is money out of your pocket. On the other hand if you can successfully secure a loan and then rent it out to a tenant then their monthly rent (i.e. not your money) is spent primarily on paying down the mortgage until it is pure profit. At that point you can try to take on more debt to rent out another property and repeat the process. That is how a house can be an asset.

>>16466277
>Bitcoin is in the “mania” phase
This boomer was right. Zoomers didnt want to listen though.

>>16466556
But where am I going to live then?

>>16466592
Try this: get a duplex. Live in one half and rent the other out. The rent covers the mortgage. This is the part you may not want to hear but bear with me: keep working so that you can accelerate the mortgage payment. The goal is to get out of debt and make cash flow. The first one is the toughest but then it compounds property by property. Imagine paying down the mortgage for another property using the rent from the first loan you paid off plus the rent for that property.

>>16466665
So like AirBnB half the duplex?

>>16466444
Witnessed

>>16466680
You could do that too but you take a risk with every customer versus renting out to one solid person/couple/family.

>>16467454
okay, so lets say I bought a 4 bedroom 2 bath duplex for 120k$, and I was renting 3 other rooms to some of my friends, how much would you say I would charge the monthly rent for each room?

>>16467454

Renting out to 1 solid family is shit. People are too risk adverse on here when it comes to real investments, and throw caution to the wind at every ecoin scam that blows in.

Single family is a shit investment, but if you already made that shit investment, at least airbnb with it to get 5x the net profit you'd get renting to some family.

I kicked out every tenant I had once airbnb started kicking off. $2100/month per unit turned to $8000/month per unit. Costs pretty much didnt budge from switching. Went from net $400/month per unit to net $5000/month per unit.

>>16467546
so after mortgage is paid of you're essentially getting free 8k without tax?

>>16466444
I wish I could follow up with those people and see how they're doing now. I remember a guy on plebbit maxing out both his and his girlfriend's credit cards to the tune of $20k each to buy BTC at the top.

>>16467508
Depends on the interest rate, how long you want to take paying it off, and what you can get away with. Let's say you want to take a decade to pay it off. $120K / 10 = $12K/year or $1K/month. Let's say your interest rate is 5%. That hikes the rent up by another $50. Maybe you want to see some of that money too, like 10%, so you add a further $100. Then there's property taxes. Average is 1.15% so that's another $12. Finally, I suggest that you bring it upon yourself to establish an emergency fund that can cover expenses for a year so you had best build it up as soon as possible - charge another 20% or $200. This is in addition to any security deposit you establish. That's a grand total of $1,362 rent per month but push it up to $1,500 if you can. Save as much profit as you can towards a year's worth of payment and then go to town paying the mortgage off. On the other side you will have pure profit, an emergency rent fund, and if you rent another property you now have two income sources to pay it off.

Also do not rent out to friends and family. They will try to take advantage of you - even if subconsciously.

>>16467905
So if not my friends or family, what kind of people am I supposed to be targeting?

>>16466168
I wish I bought at the top in 2008. My money would be doubled by now.

>>16467546
What city is this in? Also, startup costs for airbnb are slightly higher since you have to fully furnish and provide some essentials and clean. You are basically literally running a hotel / bnb if you want good reviews. This seems more expensive and time consuming than just renting out an empty unit.

>>16467546
Location is everything in property. Being able to airbnb your place is an property asset in the minority