All Forum Posts by: Matthew A.

Accountant in a research department at Yale University (Med School). Only 29 years old, and just started into real estate last year. I also flip penny stocks, buy/sell option credit spreads, and invest in a few long term Tech/Service stocks in my free time.

I would be happy just replacing my income in anything by the time I'm 35 (Passive/Semi Passive that is. No more office job).

Don't need to be a billionaire, just enough money to enjoy some of the little things in life without working until I die.

Matt

Could you let us know who the speaker was? You saying reputable speaker, and him saying you collect rents from Jan 1 is the most asinine thing I have ever heard. Just say it out loud, and ask if that makes sense.

Medical Bills - lets go buy myself a Zales necklace, Plasma TV and some new hipster shoes.. that'll help pay it off. Screw those evil businesses who charge me money for things that cost money to make and pay their employees, and ship, and apply for business licenses, pay health benefits to their employees and feed their children. Evil 1%'ers.. Am I right?

Matt

Whose to say you won't get more great tenants who would gladly pay the going market rate? If it's your mother or sister, sure.. I just don't see why you would intentionally pay yourself less because you feel bad. 

-Matt

$750 a month to drive you around town and impress the friends :).

Imagine once a month, every single month being able to go on an all inclusive trip to mexico's top resorts for a 4/5 night getaway, flight included and all you can eat/drink.

It's not worth it. Sell the car and buy another property. The average millionaire spends about $35,000 on their most recent car purchase, and the average decamillionaire spends about $42,000 on their most recent car purchase. 

You must be one of those $100,000,000+ net worth guys hehe.

"Stop Acting Rich" It's a good book to read.

-Matt

25, no expenses, no car, no credit (never had bills "responsibilities") lives with mom. However, you are going to reject people on here who have been doing this for years with your superb knowledge of absolutely nothing in life and become a traveling passive income machine by the time you are 35.

Good luck.

I own now, but $1,300 would get me a nice 1 bedroom in the ghetto. 

It's scary the amount of misinformation you can get on this website or anything online. Hard to believe 10 people liked the comment about the 1031 tax exchange program. I have just updated my list by 10 people on who not to take advice from. 

Yikes.

Well, you can never go broke taking a profit. A lot of people will tell you to buy and hold it forever, but all the rich people I know or hear about don't just hold onto things forever. You can make educated guesses that the market has extended itself a little far. I think we see a nice pullback, but I think in the real estate world it's more spotty. in CT, there have been plenty of home sales, but not much or any appreciation in a lot of parts. 

One of my friends who has a big portfolio made a statement the other day.. Said "a lot of the people delivering wood, doors, carpet, and other materials/supplies to me have been talking a lot about saving enough money finally and they all want to buy property now". That might mean absolutely squat to most, but to me it seems like what normally happens with lower income people being late to the party and buying things at the wrong time. Hence how he rich get richer and the poor get poorer. 

Fear & Greed Index is once again at extreme highs (GREEDY), FEDS have suggested 3 more rate hikes next year.. We have been in a Bull market for roughly 7 years..Buying now to go long term is kind of silly. Will always be opportunities to make money, why start at the top?

Sell when everyone's greedy, buy when there's blood in the streets.

I stopped my real estate adventures for now, and currently selling premium in the stock market averaging about $3-5,000 a week in profits. High volatility makes option premium extremely high and it's easy to sell for good profits.

Matt

@Justin R.

Hello Justin, sorry to hear about your loss. 

Honestly, and it might be a tough thing to do since us men have lots of pride and ego....but it might be good to let your guard down and see if friends/family or even strangers will donate money via a gofundme page. Explain your situation the same way you did here and provide facts, and an amount of money you lost or would be happy receiving. 

You would be surprised what people have donated to, and will be very surprised that people who might have had the same or similar situation happen to them, wanting to donate. With all of the crazy things people ask donations for, this doesn't seem like a stretch. 

Like I said, some people would be very happy to throw a few bucks your way. 

I'm not sure of your financial situation, but it's something you could pursue if you can't get your money back another way. 

Matt