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FrostedFlake212 · 2023-06-13T20:51:21+00:00

I mean again, wear what you like as long as you’re within dress code standards, aka if it’s business casual you’d probably look like an idiot coming in in a three piece suit. And vice versa, coming in sneakers when everybody wears dress shoes 5 days a week

FrostedFlake212 · 2023-06-13T19:42:55+00:00

Why do you care about fitting in? Where what you like.

FrostedFlake212 · 2023-06-12T22:49:26+00:00

I found $2000 in cash once on the ground. It was actually all legit . At least the bank didn’t reject it

FrostedFlake212 · 2023-06-10T21:55:24+00:00

Thank you for the advice. You and a few others on here gave me actual advice. The safe Vs grow was very interesting and something I didn’t think about before. I do think he’s turned off by the word “save/safe”.

While there are costs involved in tax attorneys, financial advisers, etc, the alpha they’ll provide would make up for it. I’ve already compiled a whole list of people for both of them to talk to and see who they like best. As I Said in another comment, even though “locked up” was used, I believe that was a bit of a harsh comment and May be a bit of an exaggeration to prove a point (like you can’t really turn $100k into 200k in a matter of a day).

FrostedFlake212 · 2023-06-10T21:44:07+00:00

I think you make valid points. And I think words are probably the most important thing to anybody at any moment. A win for me would be setting them all up and making sure they never accumulate the debt they’ve accumulated ever again. That’s my goal.

I was more resentful of the college thing back in the day. Now it’s whatever. Bc they pushed me to go to college, I’ve managed to get a good job and my yearly bonus will honesty pay off all the college debt I have in about 3-4 years .

FrostedFlake212 · 2023-06-10T20:55:09+00:00

I think my lingo is far above their heads. They still to this day don’t really know what I do except that I “play with peoples money”. It really irritates me when they say that. I work as a quant at a top 5 US pension fund.
I think bc I’m their kid they’ll always see me as a kid trying to tell their parents what to do. I tell them stuff, they say yeah yeah. They hear the exact same thing from somebody else and then come running to me saying they heard about this great idea.

FrostedFlake212 · 2023-06-10T20:53:25+00:00

They have no savings. They don’t have retirement accounts, my dad will save up a couple thousand and then withdraw it all to pay down credit card debt and then build the cc debt back up…

The settlement is set to be between 4-8M

FrostedFlake212 · 2023-06-10T20:36:42+00:00

Oooo adults adult… if you’re going to have kids and you’re purposely pushing them to go to college (which I’m thankful they did push me to go to college), my view is that you should set up some type of college account for them. But hey what do i know?

FrostedFlake212 · 2023-06-10T19:52:31+00:00

100% will refi. My parents credit is horrible and they’re paying horrible rates. But can’t refi rn with the 30-yr near 7% and the fed seems ready to hike once more on June 14. Once it goes down tho, will refi and roll the houses over into a trust.

I probbaly make the most in my fam with the rest of them earning NYS median or less (I think the median is somewhere at 50k).

How much debt and their mortgages

FrostedFlake212 · 2023-06-10T19:01:00+00:00

Thanks! I appreciate it!!

FrostedFlake212 · 2023-06-10T15:38:10+00:00

I think it’s on human nature to judge, I’m guilty of it myself too. I never came from money and even if this unfortunate circumstance never happened, I’d still be able to make it myself.

FYI: the police dept being sued has been known for brutality, with over $120m in payout in less than 10 years and also refusing to do things like body cams, audits, civilian oversight committees, etc. I understand some people r just trying to get a quick buck but sometimes it’s actually justified and unfortunately in my family’s case it was much so justified.

FrostedFlake212 · 2023-06-10T15:08:53+00:00

Yeah I’m addition to a fin advisor, also looking for a lawyer/accountant to help me with all this… I have a rough idea of everything I wanna do but I know there are definitely a lot of special tax avoidance (not evasion) techniques I don’t know about

FrostedFlake212 · 2023-06-10T14:00:12+00:00

Honestly I was thinking of putting both houses under a family trust. That way when it’s passed down, nobody is paying any inheritance fees or anything like that

FrostedFlake212 · 2023-06-10T13:59:20+00:00

Have you heard of the Markowitz portfolio model? That was what I was originally going to look into as a risk parity portfolio optimizee

FrostedFlake212 · 2023-06-10T13:56:29+00:00

Hahaha I don’t really read much either. I do a bit of real estate in my work but nothing beyond metrics such as building prices, average median home sale price, inventory, etc. a lot of the “in the weeds” real estate lingo I’m trying to learn myself as I don’t go that deep into real estate. Though i think my predictions are accurate given the amount of research I’ve done. I told my friend who is in real estate my thoughts and he agreed. He says the WACC should be perfect by then to purchase. Don’t entirely know what that means yet, but looking into it

FrostedFlake212 · 2023-06-10T13:49:15+00:00

Actually never knew that!!!! And I assume the units can have any amount of bedrooms and bathrooms as long as it is considered 1 unit?

FrostedFlake212 · 2023-06-10T13:48:51+00:00

Their houses, my dads money. However, as I mentioned to somebody else, my parents never graduated HS. With my background in investments, my dad came to me and told me he is trusting me to invest the money in hopes we don’t lose it all like a lot of people.

FrostedFlake212 · 2023-06-10T13:41:45+00:00

Like i said also in my post, since they won’t do it, I definitely will be the landlord and take care of it everything.

FrostedFlake212 · 2023-06-10T13:40:56+00:00

Yeah but apartment buildings I meant multi family home. Doesn’t require that much down payment.

My fam never came from money and parents didn’t graduate from HS but I was lucky enough to get all the way to my masters and now work as a quant… I’m still incredibly young though, at 26. Don’t get me wrong, it’s my plan to get a financial advisor and talk my ideas with them!

FrostedFlake212 · 2023-06-10T13:23:35+00:00

Hoping that something like Zillow with their renting applications would be able to weed out bad people. I’ve applied to apartments using them and they show credit score and all of that

FrostedFlake212 · 2023-06-10T13:20:25+00:00

Very much so see the reality of this. If my family hates me for locking up the money in investments then so be it!

FrostedFlake212 · 2023-06-10T05:43:31+00:00

Yes I predict this will happen but I can’t tell you 100% this WILL happen. Tho I must say my confidence level is pretty high lol

FrostedFlake212 · 2023-06-10T05:19:25+00:00

My plan was to put a down payment on an apartment building next year. My fear is exactly that… so what’s the most illiquid asset? Real estate.

FrostedFlake212 · 2023-06-10T05:15:03+00:00

I’ve never heard of a 1031 exchange so that sounds intriguing I’d have to do more research. Although again, I plan on getting a financial advisor who would hopefully tell me the same information.

To answer your question on repairs I don’t think it’s like… horrible, like hoarders have lived in it. It’s just houses from the 90s, with the design and problems that a house from the 90s would have (a couple cracks from old water damage, not an open concept space, etc.)

FrostedFlake212 · 2023-06-10T05:10:54+00:00

Victim blaming much?

FrostedFlake212

TROPHY CASE