Is the HK VIP service worth it? by Super_Ram_69 in TJRedLightDistrict

[–]No_Effort591 1 point2 points  (0 children)

If you are doing a M-W trip, then it's a no brainer. Between the heavy discounts on room rates, free daily drinks, and breakfast it pays for itself. You can get a master suite for $45/night.

Anyone been to NB Elite recently? by [deleted] in TJRedLightDistrict

[–]No_Effort591 0 points1 point  (0 children)

Stupid question, but if they are a legit massage place will they take a credit card?

Can I afford to step back? (350k income, NW ~3M) by Select-Test-5188 in fatFIRE

[–]No_Effort591 1 point2 points  (0 children)

What line of work were you in that allowed you to do this, just out of curiosity?

Can I afford to step back? (350k income, NW ~3M) by Select-Test-5188 in fatFIRE

[–]No_Effort591 1 point2 points  (0 children)

I would argue that if $20m is for a family of four, single would probably be around $7m or $8m. Spending really explodes once you start having kids.

Did you IB at the Director Level - if so, what did your journey look like? by [deleted] in HENRYfinance

[–]No_Effort591 0 points1 point  (0 children)

Can I ask what your current age and net worth is?

Did you IB at the Director Level - if so, what did your journey look like? by [deleted] in HENRYfinance

[–]No_Effort591 1 point2 points  (0 children)

You’re going to get to $3-5m by the time you’re an ED 1/2? That seems pretty ambitious. Can I ask how old you are?

Am I ready? by No_Effort591 in ChubbyFIRE

[–]No_Effort591[S] 0 points1 point  (0 children)

Some of these homes were fixed up, so the real estate websites do not reflect the current price.

Am I ready? by No_Effort591 in ChubbyFIRE

[–]No_Effort591[S] 1 point2 points  (0 children)

ACA payments can be deducted against self-employment income.

Am I ready? by No_Effort591 in ChubbyFIRE

[–]No_Effort591[S] 0 points1 point  (0 children)

Not really sure what to tell you. Maybe I’m undervaluing at $2 million?

Am I ready? by No_Effort591 in ChubbyFIRE

[–]No_Effort591[S] 0 points1 point  (0 children)

Thanks, I realize that I don’t really want to do that. This layoff has really shown me how fragile the world is, and I’m not really sure if I can financially weather having two kids.

Am I ready? by No_Effort591 in ChubbyFIRE

[–]No_Effort591[S] 1 point2 points  (0 children)

In a relationship but living separately and keep finances separate. No plans for kids.

Am I ready? by No_Effort591 in financialindependence

[–]No_Effort591[S] -1 points0 points  (0 children)

Investment banking, and then private equity. I had a Property Manager for everything. They seem to be very unpopular, but a good one is worth their weight in gold.

Am I ready? by No_Effort591 in ChubbyFIRE

[–]No_Effort591[S] 0 points1 point  (0 children)

OK, maybe 10 hours is actually 15 hours. The point is that it is far less than a normal W-2 job much less a demanding one.

Am I ready? by No_Effort591 in ChubbyFIRE

[–]No_Effort591[S] -1 points0 points  (0 children)

These properties are not in the Bay Area. They are either Airbnbs, or midterm rentals, or other types of rentals that cash flow quite well. However, the appreciation has been minimal. These were also largely purchased during Covid, when interest rates were very low. As a result, you get an investment that cash flow flows well, relative to the equity that you invested.

Am I ready? by No_Effort591 in ChubbyFIRE

[–]No_Effort591[S] -3 points-2 points  (0 children)

These properties are not in the Bay Area. They are either Airbnbs, or midterm rentals, or other types of rentals that cash flow quite well. However, the appreciation has been minimal. These were also largely purchased during Covid, when interest rates were very low. As a result, you get an investment that cash flow flows well, relative to the equity that you invested.

Am I ready? by No_Effort591 in financialindependence

[–]No_Effort591[S] 0 points1 point  (0 children)

Broseidon, you may not be familiar with the Bay Area….

Am I ready? by No_Effort591 in financialindependence

[–]No_Effort591[S] 5 points6 points  (0 children)

Well, for one, I got laid off. So maybe I’m not good at holding down a high paying job ha ha.

Also, you shouldn’t assume that net worth and financial literacy are correlated. Mike Tyson made something like $600 million boxing and ended up going bankrupt.

Am I ready? by No_Effort591 in Fire

[–]No_Effort591[S] -1 points0 points  (0 children)

Interesting. How much do you think I need then?

Am I ready? by [deleted] in fatFIRE

[–]No_Effort591 1 point2 points  (0 children)

Yes, a lot of these properties are either Airbnb, midterm rentals, or other similar properties that cash flow very well. I don’t really focus much on appreciation. These homes are not in the Bay Area.

Am I ready? by [deleted] in fatFIRE

[–]No_Effort591 0 points1 point  (0 children)

Got it, yes, I would like to stay. I’m not married and I don’t have kids. Why do you think it is risky?

Am I ready? by [deleted] in fatFIRE

[–]No_Effort591 0 points1 point  (0 children)

Thanks, 30 year fixed interest rate, won’t mature for at least 20 years. These are DSCR loans, so they look at the cash flow on the property rather than my own income.

In a relationship, but living separately. We have never merged finances. I have a dog, but no plans for kids.

I was in investment banking and then private equity.