unless his dad disinherited his brother

people need to quit sharing their info on here it's all going into my spreadsheet

you should see the file I have on board Indians

I almost have Spaceporn identified

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436899)

land is the basis of all wealth

that's why they call it 'real' estate

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436885)

You make a killing renting and pay plumbers, maintenance and property managers to deal with shit.

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436881)

especially when compared to easier paths to self employment

but being self employed is not about working less. however now with overpopulation wagecucks work just as much

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436799)

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436812)

my ex-gf inherited a bunch of overvalued NY real estate

issues she deals with

1.) renters keep calling the city to make repairs, city bills outrageous rate, she finds out about it from the tax lien, now she will evict them (they will not pay rent or leave in the next year if they play their cards right)

2.) about 10% of renters need to be harangued for their check every month

3.) renter of a commercial property was putting illegal immigrants or something in a storage space above the building that didn't have a kitchen/bathroom/etc.

basically your tenants are always trying to fuck you, if you have enough you can make real money you have a few that do nothing but fuck with you. about 80% pay on time and don't cause problems

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436867)

Whether you choose to self-manage or not, you shouldn't have a property in your portfolio that wouldn't still cashflow even after paying a manager, typically 10% of gross rent.

Day-to-day management of a property is typically much, much less work than a "real job". Yes, it's work to rehab and get in shape to rent (if you've been smart and bought a fixer-upper) but that should only have to be done once, or in any event very, very rarely.

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437096)

Yeah, it takes sifting through a lot of deals that don't work to find one that does, but on the other hand, how many houses do you buy in a year anyway?

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36438864)

Overseas property is rented to a German company, prepays the entire lease upfront, tenants are high level execs who don't trash the place. They just re-upped.

The other two are / were in the Bay Area, one a SFH the other a townhome. The SFH we still have is rented out to a mixed/AA couple who pay rent on time, take care of the place, and never caused issue. The other before it was sold was rented out to a Merc-dealership mechanic / nurse wife (HHI just under $300k) who literally left the place better than when we rented it to them (he cleaned and repainted walls himself).

They key is renting properties that are going to be on the higher end of the spectrum + screen your tenants. For our US properties, we just hold a Saturday open house where we see all the possible applicants in person, can talk to them, and observe how they act. No doubt XO racists would have ding'd the AA applicant couple but they were 1. The first to arrive in the morning of the open house 2. came prepared with the application filled out entirely 3. did a solid handshake and eye contact, which still means something 4. weren't the richest but weren't the poorest either, very likely residents who would make this their permanent home versus leaving in a year or two. The other couple was a no-brainer, mechanic (so you know he will DIY repairs) whose dealership was a 5 minute drive from the property and whose wife also worked within 10 minutes; again, solid couple that likely won't move (and didn't for over 4 years until they bought a place w/ a 1hr commute).

What this means for our upcoming retirement is that post-IPO I can take $1.1 mil of the proceeds and pay off all our mortgages. With our two Bay Area properties we could rent them out and after taxes and insurance are paid collect $90k/year of income. If we move to a lower COL area and buy a nice home outright ($500k-$1mm) then we wake up January first of each year w/ no montage, no car payments, and $90k to live on as a base that naturally adjusts to inflation and an underlying asset that appreciates conservatively 3-5% a year.

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437287)

http://time.com/money/4778942/avocados-millennials-home-buying/

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437320)

Also, bootstraps!

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437386)