Hello Biz,
I am a 27 year old living in NYC. My family bought properties all over the US, and I stand to inherit over 15MM dollars worth of real estate (most being luxury condos in LA/SF/NYC, a few homes w/land in Austin). My sister will inherit about 5MM worth, I get more because I've basically been managing all the assets and coordinating with property managers as my parents age (also they love me more I think, because I'm a guy and they are old school).
Right now I get just over 12k/month before taxs/hoa fees from properties that have already been transferred to me, and I own about 3.2MM in real estate. Clean, no mortgages or anything like that.
This year I turned 60k into over 2.2MM dollars. Being greedy and full of hubris, I honestly thought I would turn that into 10MM, but now I only have 600k.
I feel sick. Honestly nauseous. I can't sleep or eat or think about anything else besides how badly I fucked up.
The 12k a month I get is fine, and it will eventually be more, but even with the combined rent of all 15MM in properties I will only pull in about 340k a year after taxes, HOA, management fees, etc etc. And that's without any major repairs which could sometimes hit 20k.
I really thought I would never have to work again. I was planning on cashing out at 5MM and then retiring, but now I don't even have a million anymore.
You can't even raise a family in NYC without making a 800k/YEAR or more. I'm fucking poor again.
My question is, why do I feel like shit? Very few of my friends make over 200k/year, and the ones who do have no lives and work like 90 hours a week. I don't know what's wrong with me, I feel this terrible anxiety because I lost all that money, but things are FINE. They are more than fine and I realize how blessed I am, but still. It hurts so much.
When the fuck am I going to make it to 5 million?
