Posted on 04/26/2021 4:41:52 AM PDT by Prov1322
I will, thank you very much. I spend a lot of time with friends, associates and mentees on their personal finance and assisting them to get there as well (not necessarily at 45-46, but well into 7 digits when they turn 60-65). I wish the “millionaire next door” was required reading for every HS and college senior as personal finance is a bit of a passion for me.
So you started at zero and can retire at 46? Married with kids? Now that doesn’t happen very often...
Oh you know it was just voted into law. 8.65 dollars and you are bragging. Pretty pathetic. And 10 dollars 5 months from now. Lol. Bless your heart.
I have moved a lot of my investments to value and raw materials based stocks. I am looking at real estate investments but a conversation with a banker friend has slowed me down on that one.
Real estate is set to tank worse than 2008 with an enormous backlog of delayed foreclosures. Right now they can’t foreclose or evict people but when Congress removes that restriction it will be a mess. A lot of landlords are suffering too from unpaid rents they will never collect. I was told about a large apartment complex that sold in the last month at a 40% discount because the family who owned it could not deal with all the uncollected rents and just wanted out.
See post 204. Not sure why it didn’t put you in the reply to field.
Married for ~15, but I do not have kids. About 2 years after I dropped out of college, I got my motivation back and have worked ~65 hrs/week since then, plus spend a decent chunk of my personal time learning things online - largely personal finance, business acumen, real estate, etc. I later went back and finished my undergrad while working (more than) full time and then got my masters also while working (more than) full time about 9 years. Best sites I tell my mentees to visit to improve yourself and your own balance sheet is financialsamurai.com and mrmoneymustache.com, plus read the millionaire next door. Life changing for me. While most of my peers are spending 85-90% of their income, I am saving about 65% of my after tax earnings and investing it and as my income has continued to go up, save about 90% of the increased after tax income.
It was $7.60 in Florida in 2014. I think you are a very confused person - the jump to $10 per hour will be the first jump associated with the new $15/hr bill. But, we have zero employees in the entire state of florida making below $10/hr currently and we are not even in the top half of payers for jobs in the hotel industry. We only have a small handful of part timers in FL making less than $12 at the moment with average wage in FL over $15 for hour non-salaried folks.
The other side of that equation is firms like Blackstone, etc are literally sitting on billions of dollars waiting for that to happen and swoop up and buy them. They will not be available long. And that Multi-family seller did not use a broker or a good broker at least or he’d have received what it was worth in 2019. Even hotels with revenue down 80-90% from 2019 levels are selling at only a 15-20% discount to pre-pandemic pricing. The market is so on fire for multi-family right now they are looking at buying extended stay hotels with kitchens to convert to multi-family all over the country at massive premiums.
Well there you go. How much do you charge your Mentees?
Kids wouldn't really have changed much - it would lower my tax costs a solid amount and we'd have taken a lot fewer international vacations. Probably at worst case would have delayed my retirement a half year to a year.
How much do you charge your Mentees?
None, of course.
Supply and demand a foreign concept to you? If you don’t have applicants willing to work slave wages, you raise them. Otherwise shut down. You clearly failed economics.
And and if you did, it be without employees as many of your types are finding out.
What is the tax difference on those two incomes?
I suspect that the ‘don’t work incentive’ is much larger than being claimed.
There are typically ‘cliffs’ in the law that are not being factored in. Such as when the ‘free health care’ stops.
Clearly you have no idea that your "supply and demand" has taken on an entirely new meaning. None productive people are demanding money and the govt is supplying it with MY TAXPAYER dollars.
Enough with the BS slave wages accusations. If you think these are slave wages go live in a country with real slave wages and you will see how well you have it here.
Huge - especially since the first $10k of unemployment income is tax free on top of the initial $12.5k of all income.
Please rewrite your post, preferably in English this time.
The seller in that case was a family that had inherited the properties when the father died. The place was crazy with unpaid rent and mounting expenses the kids didn’t want to deal with. It was a big complex and the sale was in the tens of millions. I don’t know the details beyond that, it isn’t in my area, it was just told to me by the friend because their bank handled the transaction. The advice was to follow the smart money and wait for Congress.
I live in a rural area but we have a large renter base with a college in town and a military base nearby, but I am not hearing any stories of rentals being scooped up by big players. I was looking at some houses next to campus asking in the $100k range, some already subdivided into apartments. Land prices, on the other hand, are up over 500% in the 8 years since I moved here, now running over $10k/acre. I think that is driven by people from the nearest Democrat run, minority heavy city 45 minutes away looking for a place to escape to.
I have it on good authority that BX is focusing on 18 hour cities so anything that’s remotely rural wouldn’t be included. Anything around $100k wouldn’t even be on their radar. Due diligence cost alone is just too high to justify unless a lot in one deal. I am not that familiar with land pricing.
We have a couple board members that run or on boards for multi fam REITs and they are doing great. I also get a lot of that chatter from a few Research analysts that also cover hotels as well. I think if your friend had hired JLL or CBRE he’d probably have sold for a lot more. Also depends on timing too. The transaction market went nuts late last year in CRE, so if he sold or started before then he just was unlucky on timing
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