“The position of f*** you”

31 Replies

The title of this post may get me into a little bit of hot water, but I ask that any moderator read a little further before drawing conclusions. I hope this term helps to serve as motivation to other investors, and there is a point to it other than blatant vulgarity, I promise!

https://youtu.be/rJjKP8vYjpQ

Above is a link to an excellent scene in the movie, “The Gambler” where John Goodman’s character describes to Marky Mark what we can summate as financial freedom. A position of f*** you is a status reached when you are in the driver’s seat in life. You owe no one anything, and have created a “fortress of solitude” where you can make decisions without ever giving anyone or anything the ability to leverage you. Your free to do what you want, when you want, so long as you don’t live like a pig, because everyone who has ever seen the movie “Wall Street” knows that all pigs get slaughtered.

I saw this movie several years ago, thought the scene was great, but never really thought more about it for a while until someone who was and remains a very big role model in my life, particularly in the RE Investing world really drew my attention back to the scene. Now it is a common term we use that has become a joke, that in reality has become the term to embody us, our positions and outlooks on life, and our investing career. We have achieved self reliance and eliminated dependency. That in turn, has freed us.

This post isn’t about one deal, or even my career investing. It is about what everyone here can achieve if you put your head down and shift into 5th gear without looking up until you shatter your goals. That action is what changes lives. Not half measures.

I am 32 years old. I’ve been goal oriented and driven my entire life in one form or another. I have come to learn, that diligence, and perseverance in the face of failure and adversity along with remaining vigilant in order to achieve one’s goals are qualities that you either have or you do not. That hunger, fight, drive, and eye of the tiger is either in you or it’s not.

In having this mind set, I have always had a list of goals. These goals change over time, they evolve, grow, and sometimes they go away because what is important to me changes, but more often than not, they get crossed off of the list.

I can say here without ego that one of my main goals was becoming a millionaire before the age of 30. I don’t mean a paper millionaire before October 2008 based on a balance sheet. I mean a real millionaire. A f*** you millionaire where holdings, and cash determine it because your bank accounts have lots of zeros. Real liquid assets and holdings with substantial equity that are constantly reinvested in order to further grow.

The funniest thing is that through my 20’s, I worked so hard to reach that goal. I clawed and dig to get there. I worked 3 jobs to fund deals, and I loved it because I earned it after going through the pain. There was no hard money lender. No angel investor. No secret recipe, or some millennial metric. There was work and grit. When I actually reached my goal, I honestly hadn’t even realized it because at the end of the day, none of it matters. Whether you have 10 million or 10 billion, if you live YOUR life, the numbers don’t matter after a certain point. Live within your means, get to the point where you can do what you want to do when you want to do it. I live in a normal colonial style house in a middle class neighborhood. I drive a Toyota Tundra. Beyond that, it is all gravy. I’m not the guy that has the Ferrari (with payments) that has no cash to fill the tank or get an oil change.

The success story isn’t the million before 30. It’s being able to write a check for my son’s school tuition without batting an eye. It’s about being able to go out to dinner and not care if we pound a few martinis because of the bill may be a little higher. Or taking off for 3 weeks on a motorcycle trip and not worrying about it. The success story is freedom to enjoy the simple things, and everyone here can achieve that with the focus and fortitude.

What are my current goals? I am working to bring in $1 million dollars a year in passive rental income which is a little under $84,000 a month. I suspect when I reach that (I’m close!!!) I’ll push for an even $100K per month in rental income just to make it a nice neat number. Not really for any other reason to be honest. This goal is for my personal portfolio.

My goal following that, is to build my brand in New England. I want to continue to find like minded investors to work with. I want to fund them, build out their buildings, and manage them, scaling the model that have been building outside of my own portfolio the last several years.

Creating a reputable business that provides my customers with excellent customer service, efficiency, and open communication is paramount. I want this to continue as the business scales. It needs to be a well oiled machine, but still needs the feel and personal touch of a small business. Tricky, but it’s a goal.

The other big goal is to ensure that my loyal employees get their fair share. Full benefits, comprehensive retirement planning, and some holdings of their own. Everyone making money and having a vested interest builds brand loyalty and a sense of pride.

Final goal is to teach my son the position of f*** you. This lesson doesn’t come on a silver spoon, or in the form of a participation trophy. It comes from hard work, long hours, sacrifice, and failure. Once you claw out of that, and are self sufficient, you have earned the right to look someone in the eye and say, “F*** You!”

Everyone that reads this can do it. Be a lion, not a sheep, and you’ll soon be in the driver’s seat. And if your smart and have stayed humble, it won’t be a Ferrari despite being able to buy 10 of them.

This is fantastic! Congrats on your success. This pretty much sums up my goal in life. Working for others isn't the problem, it's "having" to work for others that has upset me my whole life. They control your money so in a way they control you. Time to get some f*** you money.

Fantastic post. Thank you for sharing....lots of truth and wisdom in here. 

I saw some charity thing with Marc Cuban and he accidentally dropped an F-bomb. The moderator casually replied, “I think they’ll fine you $10,000 for that...” he asked if the money went to the charity, she said yes and he proceeded to drop several more! It was that moment that I realized he just “said” my yearly salary! That’s the kind of freedom I want!

Congratulations

One word of advice, if you really want to teach your son the right path do not pay for his education. Loan him the money if necessary but make him work to pay his own way. Enabling children by sending a message that daddy or mommy will pay their way leads to spoiled overly entitled children that once given the opportunity will squander their inheritance.

You made it, make sure in doing so you do not destine your children to failure. They need to make it on their own.

Good luck and again congratulations.

Originally posted by @Brandon Ingegneri :

The title of this post may get me into a little bit of hot water, but I ask that any moderator read a little further before drawing conclusions. I hope this term helps to serve as motivation to other investors, and there is a point to it other than blatant vulgarity, I promise!

https://youtu.be/rJjKP8vYjpQ

Above is a link to an excellent scene in the movie, “The Gambler” where John Goodman’s character describes to Marky Mark what we can summate as financial freedom. A position of f*** you is a status reached when you are in the driver’s seat in life. You owe no one anything, and have created a “fortress of solitude” where you can make decisions without ever giving anyone or anything the ability to leverage you. Your free to do what you want, when you want, so long as you don’t live like a pig, because everyone who has ever seen the movie “Wall Street” knows that all pigs get slaughtered.

I saw this movie several years ago, thought the scene was great, but never really thought more about it for a while until someone who was and remains a very big role model in my life, particularly in the RE Investing world really drew my attention back to the scene. Now it is a common term we use that has become a joke, that in reality has become the term to embody us, our positions and outlooks on life, and our investing career. We have achieved self reliance and eliminated dependency. That in turn, has freed us.

This post isn’t about one deal, or even my career investing. It is about what everyone here can achieve if you put your head down and shift into 5th gear without looking up until you shatter your goals. That action is what changes lives. Not half measures.

I am 32 years old. I’ve been goal oriented and driven my entire life in one form or another. I have come to learn, that diligence, and perseverance in the face of failure and adversity along with remaining vigilant in order to achieve one’s goals are qualities that you either have or you do not. That hunger, fight, drive, and eye of the tiger is either in you or it’s not.

In having this mind set, I have always had a list of goals. These goals change over time, they evolve, grow, and sometimes they go away because what is important to me changes, but more often than not, they get crossed off of the list.

I can say here without ego that one of my main goals was becoming a millionaire before the age of 30. I don’t mean a paper millionaire before October 2008 based on a balance sheet. I mean a real millionaire. A f*** you millionaire where holdings, and cash determine it because your bank accounts have lots of zeros. Real liquid assets and holdings with substantial equity that are constantly reinvested in order to further grow.

The funniest thing is that through my 20’s, I worked so hard to reach that goal. I clawed and dig to get there. I worked 3 jobs to fund deals, and I loved it because I earned it after going through the pain. There was no hard money lender. No angel investor. No secret recipe, or some millennial metric. There was work and grit. When I actually reached my goal, I honestly hadn’t even realized it because at the end of the day, none of it matters. Whether you have 10 million or 10 billion, if you live YOUR life, the numbers don’t matter after a certain point. Live within your means, get to the point where you can do what you want to do when you want to do it. I live in a normal colonial style house in a middle class neighborhood. I drive a Toyota Tundra. Beyond that, it is all gravy. I’m not the guy that has the Ferrari (with payments) that has no cash to fill the tank or get an oil change.

The success story isn’t the million before 30. It’s being able to write a check for my son’s school tuition without batting an eye. It’s about being able to go out to dinner and not care if we pound a few martinis because of the bill may be a little higher. Or taking off for 3 weeks on a motorcycle trip and not worrying about it. The success story is freedom to enjoy the simple things, and everyone here can achieve that with the focus and fortitude.

What are my current goals? I am working to bring in $1 million dollars a year in passive rental income which is a little under $84,000 a month. I suspect when I reach that (I’m close!!!) I’ll push for an even $100K per month in rental income just to make it a nice neat number. Not really for any other reason to be honest. This goal is for my personal portfolio.

My goal following that, is to build my brand in New England. I want to continue to find like minded investors to work with. I want to fund them, build out their buildings, and manage them, scaling the model that have been building outside of my own portfolio the last several years.

Creating a reputable business that provides my customers with excellent customer service, efficiency, and open communication is paramount. I want this to continue as the business scales. It needs to be a well oiled machine, but still needs the feel and personal touch of a small business. Tricky, but it’s a goal.

The other big goal is to ensure that my loyal employees get their fair share. Full benefits, comprehensive retirement planning, and some holdings of their own. Everyone making money and having a vested interest builds brand loyalty and a sense of pride.

Final goal is to teach my son the position of f*** you. This lesson doesn’t come on a silver spoon, or in the form of a participation trophy. It comes from hard work, long hours, sacrifice, and failure. Once you claw out of that, and are self sufficient, you have earned the right to look someone in the eye and say, “F*** You!”

Everyone that reads this can do it. Be a lion, not a sheep, and you’ll soon be in the driver’s seat. And if your smart and have stayed humble, it won’t be a Ferrari despite being able to buy 10 of them.

 Is the 83 k passive mostly from rental income?

I love this!!! Thank you for taking the time to share it!! 😊

Good post, I am energized for the day! My oldest son has been getting into cars lately and I took him to the Ferrari dealership recently to look at some for "fun". I explained to him that even though we may be able to afford one, the burden of such a materialistic thing is not worth the true cost. Freedom is the only true wealth and if you purchase something like that, unless you are Bill Gates type rich, you will not be free. I don't think he gets it yet, but he will. 

I love that youtube clip and often reference it myself! Keep up the great work! My 5 year goal is also to achieve $1MM per year in passive income and help my parents retire along the way. 

Cheers!

After seeing that movie, I started using the term FU money.  Shortly after I was in a pretty complex discussion of financial instruments with an MBA on here and threw it out there -  "Oh, you must mean FU money."  He thought it was a fancy new higher minded term and asked if it meant several possible acronyms.  I was like no, it's when you have enough money to tell others 'FU'.  :)   

@Brandon Ingegneri Love it man!!  I've grinded my entire life also, and lived frugally enough to get ahead.  Had some setbacks along the way due to the wrong business and partnership gone bad, but finally got back to that point in recent years. 

It cracks me up every time I show up at a real estate auction, and everyone else is dressed in suits, driving high end brand new vehicles they really cant afford, and I roll up in my 12 year old SUV, wearing shorts, a hoodie and ball cap... then I say F*** You by buying the property for cash and walking off. 

@Joe Ferguson , @Ryan E. , @Jackie Botham thank you for the kind words. 

 @Andrew Acuna , Marc Cuban is the man.  He is the epitome of and the poster child of the position of f*** you.  A true rockstar in business and overall "getting it".  Love that story. Thank you for sharing. 

@Thomas S.  Not sure why I can't tag you, but I agree 100% with you.  I already have a game plan in place for my son with college, and at 6 years old he is out emptying coin ops with me and getting his feet wet.  No free lunch for him.  He will work, earn, and you can bet he won't be getting any entitlements.  We don't take a knee during the National Anthem in my house, and if an entitled attuned like that presents itself, he will have an sudden and bold reality check.

@Michael Plante .  This would be 100% from rental income.  Wholesaling, Property Mgmt, and Construction are not factored into this.  I am not at the $84,000 per month yet, but we are getting close. 

@Chris Brown , I love it.  Having used the Ferrari example, there is nothing wrong with acquiring some classic cars... as investments.  Nothing says that you can't enjoy them from time to time.  Awesome cars as a hobby, one of the coolest ones around. Beats a round of golf all day.  Awesome cars in order to add inches to your d***, that is when someone is a clown.  Love what you have told your son, and love that he has an interest in it.  Nicely done!

@Steve Vaughan I love this!

@Jeff Filali you are the Millionaire Next Door.  That is the book that changed by life when I was 18, and it is what I try to embody.  Sounds like you are doing it.  Keep killing it!

@Brandon Ingegneri can you give us a ballpark of how many units you have and what your rental property requirements are before you’ll purchase? What class neighborhood are your properties/units mostly in? 

Do you also wholesale/rehab to help acquire the rentals? 

No worries if you don’t want to share all that info...your post is super inspiring! Thanks again! 

Originally posted by @Brandon Ingegneri :

@Joe Ferguson , @Ryan E. , @Jackie Botham thank you for the kind words. 

 @Andrew Acuna , Marc Cuban is the man.  He is the epitome of and the poster child of the position of f*** you.  A true rockstar in business and overall "getting it".  Love that story. Thank you for sharing. 

@Thomas S.  Not sure why I can't tag you, but I agree 100% with you.  I already have a game plan in place for my son with college, and at 6 years old he is out emptying coin ops with me and getting his feet wet.  No free lunch for him.  He will work, earn, and you can bet he won't be getting any entitlements.  We don't take a knee during the National Anthem in my house, and if an entitled attuned like that presents itself, he will have an sudden and bold reality check.

@Michael Plante.  This would be 100% from rental income.  Wholesaling, Property Mgmt, and Construction are not factored into this.  I am not at the $84,000 per month yet, but we are getting close. 

@Chris Brown , I love it.  Having used the Ferrari example, there is nothing wrong with acquiring some classic cars... as investments.  Nothing says that you can't enjoy them from time to time.  Awesome cars as a hobby, one of the coolest ones around. Beats a round of golf all day.  Awesome cars in order to add inches to your d***, that is when someone is a clown.  Love what you have told your son, and love that he has an interest in it.  Nicely done!

@Steve Vaughan I love this!

@Jeff Filali you are the Millionaire Next Door.  That is the book that changed by life when I was 18, and it is what I try to embody.  Sounds like you are doing it.  Keep killing it!

 Holy cruminy. Huge congrats man!

Very happy for you and jealous lol

I think I have been taking it too slow and easy.  Just last week I decided to step things up.  

Your post has encouraged me to go for it 

For approx 84k profit a month is that around 10 mil in properties free and clear?

Congratulations man that is great,

Could not agree with you more, and that's what is really about. Making it to the top and then reaching down to help others get the same results. I am just getting started and this really inspires me to keep moving forward towards my goals because in all honesty, the sky is not even the limit, the universe is. Keep up the good work man.

I’ve met many a billionaire, Cuban among them. I’m always taken back by the calmness of their energies.

When I first came across Cuban I realized I was doing life wrong.

Now I’m trying to do it right.

Cheers to you.

Congratulations!! This was highly motivational!! Thank you for sharing and best of luck to you!

@Michael Plante my actual real estate holdings are definitely not near the 10 million dollar value mark.  They are below that benchmark.  I do have a commercial loan, but it is extremely small when compared to the size of the portfolio.  I purchased value ad properties, so I have a substantially lower all in number on my properties.  Anyone that says that they haven't leveraged at all in order to grow is a liar. My business does hold a small amount of debt, but no credit card debt, no houses are upside down, etc. Outside of the business, I have been able to be completely free and clear.  So when I discuss the position of f*** you, it is because I have the ability in both my personal life and business to pretty much do what needs to be done without having to scratch and claw like when I was building things.  If I every want to pull the pin and unload everything, I have the option.  If I want to put more cash to work, I just wait a few months and let it stack up where I normally invest it.  If I want to leverage a little, I have the banking relationships and have the portfolio positioned properly in order to do so.  It is all about options.  

I want to be crystal clear.  I am not at the $84,000 a month yet.  I am closing ground, but I am not there yet. I want to make it crystal clear to everyone so that there is no misinterpretation.  

@Ryan E. to help get you a bit more insight without needing to get overly specific, I constantly swap out and trade up the assets in the portfolio.  I keep my core houses, and eliminate problem houses.  Usually, I am able to trade those for better deals.  Currently, I only actively own 28 properties.  Last month, I owned 19.  Generally speaking, I own anywhere from 20-30 multi family buildings at a time. That number has been higher, but generally is not lower.  I did recently liquidate a number of them.  I don't place importance on the number of properties needed, I place a number on the end goal, and that is the $.  If I can do it in one property I will.  If it takes 100 of them, I will strive towards that goal also. Owning less properties that provide better returns saves me a bunch of headaches though. 

Do I wholesale, yes. I don't actively seek them out, but deals do present themselves to me somewhat regularly, and I blow them out to other investors. Typically, these are single family houses.  

I started out doing the entire fix and flip game.  Very rarely do I do that now. I did approximately 60 of those before thinking about the long game and changing my focus. 

@Brandon Ingegneri I have also heard it called a "freedom number" which is a more positive way to state it. Vulgarity is counter productive to success, because it is a form of negativity. There is no reason for an investor to have a foul mouth.

I totally get your point, just think there is a better way to express it.

I have a very basic website, that I built through Square Space simply to have one. It is a bit crude, and Im not the best tech guy, but its something to at least have a presence. Where I have been showcasing a lot of our stuff is on our Facebook Page. If you search for Avellino CPM or Avellino Construction & Property Management on Facebook, you can see some examples of what we do. We also have an Instagram page @avellino_cpm. I know that it is important to be visible on social media, but in all honesty, I don't think it is a necessity. I do the basics, but I just try to conduct good business and let the word of mouth spread in my market. Treat people right, and most of the time, things tend to work out well.

@Joe Splitrock , that is certainly one opinion, and you are entitled to it.  Personally, I don't see anything negative with it.  I think its an interesting catchy way of looking at it, and it resonated with me.  Having said that, I am a blue collar guy, and I've seen board room executives and the most blue of blue collar guys throw the F bomb around.  It hasn't hindered me or them.  Everyone has their style, and mine while rough around the edges and direct, and maybe sometimes not politically correct has worked for me. By the same token, I don't think that I would walk up to someone off of the street, shake their hand, and say f*** you.  

Its a movie, and its a position we all want to be in.  Call it what you want. If we all get there, who really cares. At the end of the day, we aren't here talking about saving the whales, were here talking about making money. 

@Brandon Ingegneri thanks again. Love the info. You should be on the podcast. 

Didn’t someone mention billionaire Mark Cuban drops the f-bomb lol. To each his own as long as they are ethical. 

Originally posted by @Brandon Ingegneri :

@Michael Plante my actual real estate holdings are definitely not near the 10 million dollar value mark.  They are below that benchmark.  I do have a commercial loan, but it is extremely small when compared to the size of the portfolio.  I purchased value ad properties, so I have a substantially lower all in number on my properties.  Anyone that says that they haven't leveraged at all in order to grow is a liar. My business does hold a small amount of debt, but no credit card debt, no houses are upside down, etc. Outside of the business, I have been able to be completely free and clear.  So when I discuss the position of f*** you, it is because I have the ability in both my personal life and business to pretty much do what needs to be done without having to scratch and claw like when I was building things.  If I every want to pull the pin and unload everything, I have the option.  If I want to put more cash to work, I just wait a few months and let it stack up where I normally invest it.  If I want to leverage a little, I have the banking relationships and have the portfolio positioned properly in order to do so.  It is all about options.  

I want to be crystal clear.  I am not at the $84,000 a month yet.  I am closing ground, but I am not there yet. I want to make it crystal clear to everyone so that there is no misinterpretation.  

@Ryan E. to help get you a bit more insight without needing to get overly specific, I constantly swap out and trade up the assets in the portfolio.  I keep my core houses, and eliminate problem houses.  Usually, I am able to trade those for better deals.  Currently, I only actively own 28 properties.  Last month, I owned 19.  Generally speaking, I own anywhere from 20-30 multi family buildings at a time. That number has been higher, but generally is not lower.  I did recently liquidate a number of them.  I don't place importance on the number of properties needed, I place a number on the end goal, and that is the $.  If I can do it in one property I will.  If it takes 100 of them, I will strive towards that goal also. Owning less properties that provide better returns saves me a bunch of headaches though. 

Do I wholesale, yes. I don't actively seek them out, but deals do present themselves to me somewhat regularly, and I blow them out to other investors. Typically, these are single family houses.  

I started out doing the entire fix and flip game.  Very rarely do I do that now. I did approximately 60 of those before thinking about the long game and changing my focus. 

 Wanted to take the time to thank you for taking the time to give such a detailed reply.  

It is much appreciated. 

I have not gotten a loan for the investments I have made and am thinking I am leaving a lot of potential profit on the table.  

For some reason I have a fear to take on any sept at all.  But am trying to think differently 

@Ryan E. Thank you.  I certainly wouldn't mind going on it.  I think I look at things a little bit differently than most.  Not better or worse, just a little differently, and sometimes that can be all it takes to light a spark with someone. 

Thank you everyone for all of the forum votes thus far.  It is much appreciated, and I honestly did not think that this would even gain traction. Truly humbled. Thank you. 

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