I'm looking for a career that starts paying a minimum of $16 an hour to start. I have no interests except real estate, loans, stocks, strip clubs, video games, massages, marijuana and alcohol.
I was considering trying to get my truck driver license, and getting a job in Aus, NZ, or UK (it would be fun to drive around a foreign country).
The thing is... I do not "need" more money, I am just looking for something fun that I enjoy doing everyday that will provide me with some fun money and make people think I'm "providing" or not a leech up society.
I have seed money, but I am not willing to invest it unless I have worked in the industry before.
I fit a lot of traits of a psychopath 2a, bad hygiene, not really giving a shit about anything, or caring about anything in general except my money/spreadsheets.
I was considering moving to phillpines and starting up a model agency, but I don't know the first thing about modeling, more just for my own personal fun like Donald Trump's miss universe.
Maybe starting a REIT in a cheap nice area, and selling shares to people in the bay area.
Playing bridge with old ladies, and offering to manage their money for 1%.
Starting a massage parlor or bikini bar (I don't know how to, and I'm scared, but it is my passion!)
>I have no interests except real estate, loans, stocks, strip clubs, video games, massages, marijuana and alcohol.
Bartender?
Ian Harris
If you have the interest, real estate seems like the best choice. Your other interests don't seem that useful. I laughed when I read your ideas about a modeling agency or bikini bar - it's likely you'd go broke with that plan.
If you haven't already, get on biggerpockets and learn about how others have made a real business out of RE. Lots of inspiring stories there.
Cameron White
I love this post
Ethan Brown
pharmacist?
Isaiah Collins
been to biggerpockets a lot, I like their gay little youtubes.
the modeling agency would just be an excuse to meet attractive women, and have power over them.
the problem with bartender is I am not a good at social skills (bad eye contact, grimace, hunchback and teeth).
Most bikini bars tend to hire attractive women, family of the owner, or people that used to work at the same club as a security guard.
I was thinking the bikini bar I like to go to has been in business for about 50-60 years, it is older than silicon valley almost in the heart of silicon valley.
I think these businesses can potentially make income, but yes, I agree it is a 'hobby/ego' business everyone wants to own like a golf course, or how investing in movies used to be marketed.
The only problem with real estate is the entry price is intimidating, and I would have to move at least 150-200 miles to be able to buy any property that would be cash flow positive (I am looking at you Stockton/sacramento)
Ayden Young
I always hated chemistry, and I have heard pharmacist is one of the most boring jobs in the world (excluding the pay)
Austin Perez
>I would have to move at least 150-200 miles to be able to buy any property that would be cash flow positive
Sounds like you need to watch more gay little youtubes and learn more real estate. Good luck, my little hunchbacked friend
Ayden Adams
So your implying it's sensible to borrow over 80% LTV and buy a non-cash flow positive building/home?
Maybe I should look into trailer park management...
Jordan Jackson
Nope, I'm just saying you don't need to move. Live where you want, but buy where it makes sense. I don't live anywhere near any of my rentals.
Jack Smith
How do you avoid getting screwed when a tenant starts complaining about water leaking, or toilet problems?
My old slum lord and I got along really well, she is 6 hours in Eureka (shit-hole county seat of Humboldt), she gave me bonus money back for showing two hot college students the apartment when I left.
She offered to manage any properties for 8% gross rent (about $800-$850 for a 2 bedroom apartment). I like the capitalization rates, and the purchase price. Only problem is it's 6 hours away, and there is nothing up there except usurious taxes, shitty restaurants/bars/women, no jobs, one horrible college, and one horrible university/
Hunter Gutierrez
The 4plex owner, lived in redding about 200 miles away, but a 5 hour drive through Californian Alps.
Colton Allen
It's all about getting a good management company. They'll have contractors that can do the work quickly for a reasonable price.
I've cashed out all of my CA properties, bought out of state and left but am still familiar with the area. I wouldn't buy anything there anymore.
8% of gross is a pretty good rate, though.
Ian Parker
what state are you in? Nevada seems like a good deal, but living there would suck.
Washington/Oregon seem like a good balance of appreciation/income and not being a complete dump.
TN and Massachusets/NH seem interesting as well, but the East Coast is more foreign than the UK to me.
Adam Bailey
Yea, I wouldn't go to Nevada - I like vegas, but not THAT much.
Washington seems "ok", but I'm not crazy about Seattle. And Oregon is not for me - Portland is way overpriced and it seems like it's always on the skids.
I moved to coastal virginia. Same latitude as the Bay Area, but less than half the cost and none of the water problems. It's flying pretty under the radar right now, so I don't anticipate any CA people invading anytime soon.
Charles Davis
Nevada for me means Reno, which is definitely a shit hole, but there are TONS of jobs with the Pansonic's gigafactory.
There are towns that have just been built, and are continuing to be built.
The city of Reno itself is ugly as fuck, and has lower cap rates than Oregon or Washington, but probably the highest growth in the country, due to manufacturing/tax haven boom.
Vegas... I don't like being around casinos except for the cheap food.
My grandparents lived in Charlotte area and other parts of Virginia, the weather was decent, but taxes suck and everyone works for government.
Vancouver / Portland is cheaper than seattle, but the jobs aren't nearly as good but the bonus is their are no military slums, jet noise, or rail roads cutting through the middle of city like Seattle has.
Christopher Young
Does coastal Virginia mean Washington DC, Richmond, something else.
I have only heard horrible things about these cities, with the exception of DC (it's super close to Baltimore).
I would want to bet much on the Navy getting any larger than it currently is, but I was wrong 10 years ago about that.
Aaron Parker
So, I don't invest in CoVa so I'm not an expert in the area, but there are several differences between these properties.
Physically, #1502 is almost 3000 sqft whereas #1816 is 800 sqft, which could account for a lot of the price difference.
But locationwise, Portsmouth is not as desirable. It's not as close to the main navy base in Norfolk. And it also has more problems, corruption and crime wise and property taxes have been increased as a cash grab.
As for the Navy, most of the cybersecurity that the US does is through the Navy, so it's going to continue to be relevant going forward. In fact, there are more centers coming up around here specifically for cyber stuff.
Elijah Wilson
what areas do you invest in? Are you all in single family homes? What is your average rent amount, and purchase price?
Ryan Gonzalez
My rentals are in tax-free states - the last thing I need is even more complexity in my goddamn tax return. It's a mix of SFH and multifamily.
But, I've mostly gone away from rentals in favor of private real estate funds. My strategy of accumulating leveraged homes worked well when the market was really down. As prices went back up to normal, though, I started selling and getting into these funds instead to stabilize the cashflow and support my retirement.
Oliver Lee
>My rentals are in tax-free states kek
what a moron
Cooper Roberts
There are only about 7 different tax free states.
Nevada, TN, South Dakota, Texas, NH, FL. Alaska is supposedly bringing back a high income tax fairly soon due to the oil bust.
Private real estate funds sound like a scam to me. Why would I trust a private fund over VNQ and why buy VNQ over VOO if you think the market is inflated.
I know there has been a large run up, but my mind set (winner) is that prices will be up in 30 years, and leverage the shit out of something that is cash flow positive from day 1.
Dominic Martinez
and Washington of course
Justin Young
He's LARP'ing or retarded anyways.
businesses with no income tax have higher property and business taxes, both of which he'd owe if he weren't lying.
Anthony Carter
>businesses states, I mean.
Brody Richardson
That's a generalization, and not true in most cases.
Nevada has lower taxes in every way compared to California.
Washington has lower taxes except sales tax which is about 1% higher than California.
TN has lower taxes in everyway to California, so does South Dakota and Wyoming.
The only states with higher property tax than California on average and 0 income tax are Texas and New Hampshire (NH taxes people on cap gains/dividends though).
Leo Green
Nevada government is lean and they keep the taxes low.
California is so big, no one cares, and the government becomes a bloated monstrosity, one thing which is becoming a problem in the united states
Henry Brooks
ah, you're looking at personal property taxes.
another libertarian moron.
it may thrill and excite you to learn that business owners (such as landlords) pay property taxes at about ten times your rate.
Christian Lee
Yes because they own 10 times the amount of property...
You can't say that California has low property taxes, except for people under prop 13...
You are incorrect about the fact that income tax and property tax are correlated...
The only correlation is some states like Nevada, Florida, Tennessee and to a lesser extent Washington attract investors by offering more favorable taxation policies than the states surrounding them.
Every small company in SF is really incorporated in Nevada.
Asher Johnson
>Yes because they own 10 times the amount of property no, because the first $100k of personal real estate is exempt in most states but taxed for businesses.
why are you on a business board arguing about something you clearly know nothing about?
Luis Johnson
only for disabled retarded 'veterans'
why should they get tax free, for having their foot ran over by a fork lift in Alabama...
California can't raise taxes... so they start charging everyone fees
I have over $1000 a year in Fees, thanks to my local fire department....
fuck them...
Jordan Fisher
>only for disabled retarded 'veterans' yes, I get it. you don't own a house or a business.
probably never will.
Jackson Carter
I have 500k.
I think I can buy a house worth 100k... without much problem.
Gavin Butler
>I think I can buy a house worth 100k... without much problem. then you should, and then once you've looked at your property taxes and noticed you're not taxed on the first $100k of assessed value,
then compared it to a business that owns a property that's taxed on ALL of its value,
you can perhaps understand what I'm telling you when I say businesses pay ten times more property taxes than individuals ON THE SAME VALUE OF PROPERTY.
AND THIS ISN'T APPARENT IN TAX RATES BECAUSE THE RATE IS THE SAME, THEY JUST DON'T COUNT THE FULL VALUE OF PERSONAL PROPERTY.
Landon Bell
You may even begin to understand that the rate doesn't matter.
If California charges you 3% on all of your property's value, and Colorado charges you 6% on 1/5th of your property's value,
who has the higher rate?
and that's why everything you think is wrong.
Liam Scott
Yes I understand some states like Nevada tax in weird ways, like x percent of y value if the property
A homeowner buys a house, lives in it and pays taxes.
Most of the places I think are good investments have large companies and engineers near by, so 100k does not exactly go the full way for a double wide built in 1970s.
My problem with being around a major government center is the growth rate.
You were talking about them building a new cyber warfare building, but the problem is once they staff it can only go down hill.
If it were to grow enormously, they would likely move it too DC, after they staff it they're not going to grow it like Microsoft or Amazon. 10% growth rate a year for government is enormous, I know health and human services did that in California, for about 8 years straight but it starts eating up a huge percentage of the budget and people start noticing and they e mentally have to trim it down.
Bentley Powell
As a landlord you should really not have to pay any income tax at all for the first 10-15 years due to your choice of depreciation method, taxes, vehicle cost, maintenance, insurance and management fees if your into that sort of thing.
