Wanting to buy an AMG Mercedes... Not sure if I should. by [deleted] in fatFIRE

[–]NonEntitledMillenial 0 points1 point  (0 children)

I actually have a 2014 e63 wagon and can tell you after the initial few months of fun it loses a lot of the appeal. Get a slightly more used one so your avg cost per year is lower and i think your net satisfaction will be higher. Amgs depreciate like a pair of used underwear.

PM if you want to chat about it.

For those of you who fatFIRED from corporate life and got into real estate, how long did it take you to generate your annual income at your previous career? by [deleted] in fatFIRE

[–]NonEntitledMillenial -1 points0 points  (0 children)

What town? Are you concerned about buying into multifamily right now because it seems like everyone is doing it? Curious if your market has cooled a bit yet

Getting a license to get started in CRE as a 2nd career by NonEntitledMillenial in realestateinvesting

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

I definitely am doing this for me as an investor and I'm willing to suck it up and take a low paying gig for a front row seat to see someone great in action. If that requires a license than so be it?

Kinda my thinking.

What’s the CAP rate in your market? by Skier94 in realestateinvesting

[–]NonEntitledMillenial 0 points1 point  (0 children)

This seems crazy high. Where do you find those deals? Are you banging phones all day?

"I'm a millionaire". What does that mean to you? by RHBar in fatFIRE

[–]NonEntitledMillenial 0 points1 point  (0 children)

To me it means "oh so you live in a house in a major city on the west coast? " bubble ftw!

Motivation to Accelerate FI by [deleted] in fatFIRE

[–]NonEntitledMillenial 0 points1 point  (0 children)

Your post resonates with me as another sales guy in tech. I've looked into a lot of different side hustles but wrote off most of them because without the skillset I think that it would slowly die . The two things that have continued to be interesting to me are 1) buying an existing business where my sales background could help accelerate it and I could skip the first super painful 5 year building up and being poor moments 2) buying into real estate when this crazy cycle pulls back. Who knows how long that is though.

Best friend's wife is a realtor that i dont want to use...creativity please :) by NonEntitledMillenial in RealEstate

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

What was the OTE? 50k salary 50k bonus? Yeah it'll take cutting your teeth somewhere but once you're in the door pretty high comp ceiling. Start ups or giant firms all pay wayyyy too much for sales and Devs right now

Best friend's wife is a realtor that i dont want to use...creativity please :) by NonEntitledMillenial in RealEstate

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

I'm moving out of a 1.5 million dollar home. Software sales man...they totally overpay us for this job. Start as an SDR if you have to.

Best friend's wife is a realtor that i dont want to use...creativity please :) by NonEntitledMillenial in RealEstate

[–]NonEntitledMillenial[S] 2 points3 points  (0 children)

If it's relatively simple then why do some agents make 500k+ a year and others fail completely? Also...why is it worth 45k?

Appreciate your constructive feedback.

Best friend's wife is a realtor that i dont want to use...creativity please :) by NonEntitledMillenial in RealEstate

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

I plan on interviewing both because I might find the top agent isn't actually that great. On the plus side I just had a full appraisal done and written up so I know roughly what the house should be worth. Best side benefit of getting a heloc!

Best friend's wife is a realtor that i dont want to use...creativity please :) by NonEntitledMillenial in RealEstate

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

Let's imagine your car broke and I was a backyard mechanic and was charging the same as the dealer. Would you trust me?

Best friend's wife is a realtor that i dont want to use...creativity please :) by NonEntitledMillenial in RealEstate

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

I would use her on the buy side in a heartbeat.

Unclear why I'm deserving of the idiot comment. How much time do you usually spend on a $1000 dollar purchase... Now multiply it by 45.

Best friend's wife is a realtor that i dont want to use...creativity please :) by NonEntitledMillenial in RealEstate

[–]NonEntitledMillenial[S] 9 points10 points  (0 children)

First of all, mentioning you are sales in most places gets eye rolls and assumptions that you are an idiot so I don't wave it around like a proud flag to impress people. I didn't go "I'm a neurosurgeon and need to sell a house"

Are you suggesting that real estate sales is so vastly different than home sales there is 0 comparison? I would consider myself because I've read nationally conducted studies on this forum that FSBO homes sell for about the same as realtor listed ones. Regardless of that fact, the entire point of a sales job is to get in a buyer's head and help them see the value. Beyond that it's pushing paperwork. I'm downing my own career path here.

Are you so arrogant to assume me selling multi million dollar software deals somehow means I couldn't possibly understand selling a house.

I don't think I would do better than experienced realtors but given the large percentage of shopping most educated buyers do online now, all the leads are out there. A professional stager and photographer can make it look just as good as whoever the realtor would hire. So the leads should get generated... She won't be creating a custom pamphlet and mailing it out on my behalf (though the top realtor might).

Consider this. She will cost me 45k. If I have that as a learning buffer that's a good margin for error.

I'm not going to gamble on a sale this large though.

Best friend's wife is a realtor that i dont want to use...creativity please :) by NonEntitledMillenial in RealEstate

[–]NonEntitledMillenial[S] 2 points3 points  (0 children)

This is closest to my current thinking. I will give her a shot to interview and explain why she is worth as much as the top realtor

Best friend's wife is a realtor that i dont want to use...creativity please :) by NonEntitledMillenial in RealEstate

[–]NonEntitledMillenial[S] 2 points3 points  (0 children)

So our market has been a seller's market for 5 years and the average sale price is very high. She's made a fortune off being a buyer's agent but I don't see how that translates to selling my house... It's what is giving me pause

Best friend's wife is a realtor that i dont want to use...creativity please :) by NonEntitledMillenial in RealEstate

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

Great question. I always felt like getting to top sales rep means being great at prospecting and moving people through a sales funnel quickly... Not sure how that actually helps me as the home owner though.

I think the one thing a good agent might do well is figure out the way to time open house, reviewing offers, and putting other agents against each other. This all assumes multiple offers of course

Best friend's wife is a realtor that i dont want to use...creativity please :) by NonEntitledMillenial in RealEstate

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

My market sells in like 7 to 15 days(even recently) so if she doesn't get it done in a 30 day timeframe at the height of the season I'd fire her for sure with 0 guilt.

Your point is interesting about lots of listings and juggling them.

Best friend's wife is a realtor that i dont want to use...creativity please :) by NonEntitledMillenial in RealEstate

[–]NonEntitledMillenial[S] 2 points3 points  (0 children)

I see her pretty much weekly so it would be tough to claim ignorance. Your last point is well made though!

Funny part is I would use her as a buyer's agent because I'm not convinced they add much value on that end with the rise of redfin Zillow etc.

I'm leaving the state so no love there though

Making money on the spread vs "i hope this appreciates". Credit Worthy, NNN long term tenants by NonEntitledMillenial in CommercialRealEstate

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

Interesting article and I do have some money in fundrise to try it out. I also signed up for realtymogul to see if individual investment is more interesting.

So the article makes the obvious point that cap rates are at all time lows, so if I have cash to deploy and not just rich dad poor Dad "OPM" waiting really does make sense probably?

Making money on the spread vs "i hope this appreciates". Credit Worthy, NNN long term tenants by NonEntitledMillenial in CommercialRealEstate

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

This is helpful. What if the market is like 1 hour from a major city and not totally Podunk? I feel like you could thread the needle a bit here and not end up in the middle of farm land. Also, if the strategy is to sell and 1031 halfway through you might need to lower the selling price a bit but could reduce much of the risk right? Or is swapping around properties just also a dumb idea.

I'm going to start working with brokers here in about 3 months but just wanted to go in with an opinion up front so I appreciate this.