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/biz/ - Business & Finance

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6627528 No.6627528 [Reply] [Original]

/biz/, looking for opinions because you guys have steered me right enough times.

I fell for the diversification meme two years ago and knew nothing about crypto, so I've been stocking money away in 401k, Roth IRA, and bought a comfy little rental property. The typical meme retirement setup. I had no idea about crypto at the time and didn't realize there were higher risk/higher reward markets like that. Looking back, had I bought 50% ETH/50% BTC with my $30,000 down payment on the property (not even counting the thousands I've put into my IRA/401k), I would have 23 BTC & 1428 ETH today. I'd be a literal millionaire right now. Instead I have a property that's netting me $10k/yr. Sad.

Fortunately I got into crypto about 6 months ago, and started off with about $6k put in (I don't have a ton of liquid cash now that I have all these assets). Since then I've put in about $12k total, and I'm at ~$42k now. So not great, but I've learned many lessons and my performance lately has been a lot better. I know there won't be a bullrun like we had in BTC/LTC/ETH like we did with any of these new cryptos, but the market seems poised to really take off in 2018 -> 2019 as companies are now adopting the technology rapidly. I have a CS degree so I can actually read through whitepapers fairly easy, and my long term picks have all been working out with bright futures. There's also numerous ICOs and other projects I'd like to put capital on.

So I'm thinking of selling my rental property and putting the $40k I get out of that into crypto. Good idea or no?

>> No.6627788

Investing in property is one of the most secure ways to lock in a consistent passive income.

Speculating in cryptocurrencies is one of the most volatile ways of putting your money to use.

You could be asleep and your portfolio halves in value. Your mind will constantly be preoccupied with what the price of Bitcoin is and what John McAfee is saying on Twitter. You will never relax or have ease of mind. Be prepared to check your Blockfolio twenty times a day and regret every coin that mooned without you on board.

Weigh up the pros and cons - I'd still take crypto any day of the week.

>> No.6627878

keep the property, that’s bank. invest any extra money into crypto

>> No.6627994

having a solid understanding in cs makes it harder to invest in shitcoins that you know will moon but dont do anything impressive.

>> No.6628083
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6628083

>>6627528
hindsight 20/20
You are analyzing your investment without considering how you would have acted had you invested. What if panic sold? What if started buying shitcoins? What if you were hacked? You didn't know anything about so you invested in something you knew about - property. You did well. Investing into things you have no knowledge of is a very risky endeavor.

>> No.6628366

>>6627788
Thanks for the tips. I think I can handle the suffering and also am in the "crypto any day of the week" mindset. Since I'm still diversified into stocks as well (with my 401k and Vanguard) I'm not as worried about being too all-in on just crypto as a result... thanks dude.

>>6627878
This is a pretty good idea. Just take the $800/mo mortgage and pump that into more positions I like. Not bad..

>>6627994
Seriously, you're right. I don't understand people who buy Tron at all. Or sketchy coins with terrible whitepapers written by actual retards. But they make money...

>>6628083
True, but my rental is not without its own issues either that affect me. The person living there is pretty fucking needy and its kind of annoying to deal with sometimes. Sort of part of why I want to sell it too. But overall it's pretty passive income.

>> No.6629329

>>6628366

the only reason I got into crypto is to afford real estate. engineering degree is great, but still not enough to get a place of my own without 20+ years of debt attached to it.
You already have real estate, I'm super jelly

>> No.6629472

>>6627528
can you please share your portfolio?

>> No.6629694

>>6628366
Anon don’t sell the house. You’ll have realtor fees, closing costs, and taxes. Invest in crypto until you have 25% down for a multi family. Cash out and 1031 exchange the house into the apartment so you avoid capital gains. Hire a competent property manager as well.