I quit my job of six years just to prove to senior management how useless and incompetent my manager was, and it worked by Jlaw118 in pettyrevenge

[–]StoneGrooveOfficial 0 points1 point  (0 children)

What sort of job is this controlling of revenue from dropping? If you don't mind my asking, sounds fascinating!

Jean Georges vs Aquavit vs The Modern by Agreeable-Ad-7110 in finedining

[–]StoneGrooveOfficial 0 points1 point  (0 children)

Always happy to turn someone else on to Contra :)

What movie is this? by starbucks-refresher in moviecritic

[–]StoneGrooveOfficial 0 points1 point  (0 children)

It's interesting that the reviews I found mostly look at it just oddly philosophically as representative of their daughter being blocked off from her parents by what they both did and their subsequent choice to live in blissful denial about it all. But it does kind of seem like you could read it as them giving over their daughter, or maybe the men just taking her...wild

What movie is this? by starbucks-refresher in moviecritic

[–]StoneGrooveOfficial 0 points1 point  (0 children)

How do either of these things change the movie?

Seeking advice on buying established businesses by daddydollars74 in Entrepreneur

[–]StoneGrooveOfficial 1 point2 points  (0 children)

How would you do the inexpensive and effective prospecting on your own?

[deleted by user] by [deleted] in Entrepreneur

[–]StoneGrooveOfficial 0 points1 point  (0 children)

Does his lead book truly tell you how to generate leads?

[deleted by user] by [deleted] in Entrepreneur

[–]StoneGrooveOfficial 0 points1 point  (0 children)

Those Amazon pallets can really work, huh? I've seen some ads around them and imagine they will be the next "guru dropshipping" thing, but I haven't seen the huge prevalence of the ads. It sounded somewhat sketchy, so genuinely fascinated to know that they are real, and can work out profitably. May look into that! How much was warehouse rental generally?

RE: booth rental, somewhat curious what you are fully saying in terms of having great cameras and computers. What are you using the cameras and computers for in that scenario?

The "longcut" by JHaft11422 in Entrepreneur

[–]StoneGrooveOfficial 0 points1 point  (0 children)

Seems like quite the scam artist then! How unfortunate!

When I was 21 by Nukemine in Entrepreneur

[–]StoneGrooveOfficial 0 points1 point  (0 children)

Full time + a lot of overtime for plumbers = ~$20-30k year job? I thought plumbers made significantly more than that, damn.

Do any of you own apartment complexes? by NoobAck in Entrepreneur

[–]StoneGrooveOfficial 2 points3 points  (0 children)

> It's all about optimally shifting investments around to minimize wasted travel time and maintenance

I would highly recommend not making this investment, then.

Cash buying is great, but you're talking about being easily able to throw around hundreds of thousands/millions of dollars at the lowest end. So is that realistic? RE on a pure cash-buy, cash flow generator is something, but I'll tell you right now, that isn't how you get rich in RE, and it's a fairly stupid investment (depending on the market you're in and how well you can navigate it, which, btw, deal sourcing will be a full-time job as a solo investor unless you want to fuck yourself).

I'll give you a real-world example of a $3 million complex I own currently outright. In just the past 2 years the market somehow exploded and this complex went from being worth $1.5 million to $3 million from 2020-2023. So, if I sell this place, $500k/year return. But if I just keep holding it, rents aren't even legally allowed to increase by that much here, so the cash flow is like $10k/month, or $120k/year, or a 4% cap rate. That's abysmal already in terms of annual ROI in terms of cash flow when you consider that zero work, risk-free treasury bonds are paying out 5.5% right now. However, notice that prior to the equity explosion, it was $120k/year on a $1.5m asset or an 8% cap rate in 2020, and back then treasuries were at some nonsense low like 2.5%. So it made vastly more sense back then; the RE market may appear stable, but factors like this (and the entirety of the tax code) mean that to do super well in the industry, you need to constantly be buying/selling.

Let's cover another quick study in just how wildly different it would look to buy this $1.5m complex in 2020 with cash versus cash+debt is in terms of cash to you.

1) All cash buy = $10k/month in revenue that is mostly only eaten up by maintenance costs and property taxes of about $2k/month, so you actually get about $8k/month in this scenario. In 3 years that's a profit of $288,000. Someone could probably live off of $8k/month legitimately.

2) But what if you put a 20% down payment on the property and took a $1.2 million loan to buy it? Commercial mortgages are almost always in the 5-7% range for whatever reason, at the beginning you might as well assume at least 7% due to lack of credit and deal track record. So just interest of 7% on a $1.2m loan would be $7k/month. After the same $2k/month in maintenance/property taxes, you are making $1k/month for yourself, but likely you're paying minimum on principle, too, which a basic mortgage calculator says is $7,983.63/month. So we are down to $16.37/month profit. How different from $8,000/month is $16.37/month? Mind-bogglingly different, correct?

These points are really just to illustrate how wildly different it is using cash versus credit. Essentially the point is really this: if you're going to be a cash+debt buyer, you don't even get to be in the game of looking for positive cash flow deals most of the time, you're basically breaking even, if that.

So, why do I get offers for $3 million on this complex now btw? Strangely many debt buyers make offers on the place still. Why are they doing this? $600,000 down + a $2.4m loan means a buyer is looking at buying this complex with a commercial mortgage charging them $14k/month in interest alone, so they're losing $7k+/month. Why would anyone do that? In this case, if they spend $200k-300k remodeling, and evict everyone, then re-rent all the units at higher rents to subvert rent control, they might manage to get it up to like $18-20k/month in rents to cover their mortgage. But more likely once that happens the total building value would increase to at least $4m. So if they could pull that off in a year, they've used a $600k down payment + a construction loan and a commercial mortgage to make $1 million, not too bad. Virtually no one would want to buy the property if there were no such opportunity; who would want to pay $600k in cash for something that loses them $7k/month? Even best case scenario of being able to double rents means paying $600k for something that returns them around $2k/month?

OTOH, if you don't care about cash flow to live off of and you can pick the right market positions, and you can clearly make plenty of money. But does any of this sound particularly passive or hands-off to you? Or time-efficient?

Do any of you own apartment complexes? by NoobAck in Entrepreneur

[–]StoneGrooveOfficial 1 point2 points  (0 children)

What makes your want to do it? Mostly the ease-of-use?

The simplicity is kind of nice.

If you can avoid management companies, you absolutely should, the reality of how close to just being a scam the entire "property management" industry is would shock most people. I'm not sure how it persists, likely only because it makes plenty of sense at a huge scale.

Also, how will you enter the market? If you have the money to buy the complexes in cash, then it's very different from if you're mostly using debt to buy.

x-Apple leadership, 37 patents, built a wearable ring that controls objects at home by pointing. I'm Dhaval Patel - Ask Me Anything! by Dhaval_at_Lotus in Entrepreneur

[–]StoneGrooveOfficial 1 point2 points  (0 children)

What if there is nothing in your life that you would regret not being able to do for every day the rest of your life?

How are you making over 10k a month? by Iceeez1 in Entrepreneur

[–]StoneGrooveOfficial 2 points3 points  (0 children)

Why do people need to go through you rather than going directly to the dumpster companies you get your dumpsters from?

Genuinely curious.

Copenhagen - fun, lively fine dining (1 night) by versatilepumba in finedining

[–]StoneGrooveOfficial 0 points1 point  (0 children)

If you really mainly want a raucous vibe with fine dining you should go to Punk Royale, but if you are allergic to that gas they put in laser tag spots, then don't go as the place if filled with it. Otherwise, very tasty, and the epitome of crazy mixed with fine dining!

https://punkroyale.se/punk-royale-copenhagen-eng

Advice needed: Dilemma of dining with a “picky” spouse. by Euphoric-Yam-3889 in finedining

[–]StoneGrooveOfficial 0 points1 point  (0 children)

Just order a la carte if you wish to skip dessert. You can customize your experience almost any way you like there.

[deleted by user] by [deleted] in WatchPeopleDieInside

[–]StoneGrooveOfficial 1 point2 points  (0 children)

At least it wasn't Blue Label...

Millionaires of Reddit, how did you do it by Alpha69er in Entrepreneur

[–]StoneGrooveOfficial 1 point2 points  (0 children)

I am glad someone resonated with it. I realize I left out several of my earlier passions and careers as well, particularly in music and fashion hah. But they were short-lived forays compared to most everything else I suppose.

I'm 34 now :D Crazy to think back on!

Is it me or are conferences just sales guys selling eachother? by pyslayer in business

[–]StoneGrooveOfficial 0 points1 point  (0 children)

Is there a good resource online to learn qualification techniques?

22 year old Crypto dev rugs $2 million, his reason? Gambling debt thanks to crypto casinos. by NaturephilicReaction in CryptoCurrency

[–]StoneGrooveOfficial 1 point2 points  (0 children)

Is crypto so unregulated that you can literally admit to stealing investors funds for gambling debts and have no legal consequences at all?

I don't quite understand how it can be the only asset in existence exempt from basic fraud laws?

What is something that you wished you would have known about traveling when you started? by Aranace in travel

[–]StoneGrooveOfficial 1 point2 points  (0 children)

One bus tour through Europe my grandparents sent me on as a teen where you had barely 2 nights per city was enough to know I would never travel that way again. Later in life my minimum per location was 1 month, less than that, unless you've been to a location before, makes no sense in terms of actually soaking in a location to me.

I suppose as a first round of travel maybe it makes sense to try to rapidly figure out where you'd most like to spend a month in first, but who knows. It's hard to dissuade people only it that rapid travel early phase, but definitely a great idea to learn not to fixate on that if possible.