Date: February 7th, 2023 9:34 AM Author: Poppy Greedy Set
yeah because a portion of that 700k is invested into a fund that is buying or building large # of condos and town homes in a major city. so i have no active involvement. 18% preferred returns on that particular investment.
Date: February 7th, 2023 9:46 AM Author: Poppy Greedy Set
38 years old.
commercial real estate attorney is where most of my income comes from. wife has a decent job too that makes about 135k/year while only working 30 hours a week (and out of that 30 hours she really only works 15 or so actual hours).
Date: February 7th, 2023 11:11 AM Author: contagious hateful abode
at the very least, shift that cash to t-bills or a treasury money market fund. you'll get the fed funds rate minus a modest expense ratio (like 0.1% or less).
the fed funds rate was recently raised to 4.5%-4.75% so if you're earning less than that you're getting fucked.
Date: February 7th, 2023 12:48 PM Author: adventurous white laser beams
Am I going to be the first person to point out how dumb this is?
Cash (making 3.3-4.5%): $2,050,000
Brokerage Accounts: $375,000
Crypto: $200,000
At the bare minimum, cash and brokerage should be reversed. Why the fuck do you have so much in cash and other money tied up in alternative investments with basically zero on the stock market? Stocks should be the bulk of your portfolio. Once you have a large stock portfolio, then you can go ahead and put a slice into crypto or "real estate funds" or some other alternative investments if you want. But stocks are easily the safest long term investment.
(And LJL if you think your real estate fund is going to yield 18% consistently. Warren Buffett has barely averaged 18% in his career, and the dude who runs your real estate fund is not Warren Buffett. This smells like a goy scam to me if they are promising outsize yields like that.)
Date: February 9th, 2023 11:41 AM Author: Confused mind-boggling nursing home
I call flame. Or completely financially illiterate. Can’t see how a successful commercial RE atty can dump so much cash into illiquid investment and primary properties and not take advantage of historically low rates that lasted for 10 years.
Date: February 9th, 2023 11:43 AM Author: Poppy Greedy Set
I had 2 other properties that I sold at the height of the market.
You're probably right though in terms of me being financially illiterate when it comes to a lot of things. I can't stand resident property management though and have never liked the idea of paying someone to manage residential shit. every 4 seconds a microwave breaks or hvac goes out or whatever the fuck. it's just a hassle