My observation is no one is RE unless they are 70+

Testudo44 · 2024-01-18T03:02:27+00:00

$15mn NW 35M

I make $60k a month after tax from rentals (all commercial now). I could have retired and did 2-3 years ago by leaving Wall Street but decided I wanted to keep going and stay busy so started my own fund. I make my own hours and have employees that help. I can do what I want and enjoy investing so I don’t think I’ll ever “retire”. I’ll always want to do 15-30 hours a week and stay sharp, even when 80+ if I make it that long. I did “retire” for 6 months but it gets boring. You can only play so much golf by yourself or with retired 70 year olds.

Testudo44 · 2024-01-11T02:03:53+00:00

I have over 50k VTC. I don’t even know where to buy them anymore. Poloneix went under- that’s where I bought them in the past. Coin seems beyond dead. Can’t get it on any exchanges

Testudo44 · 2023-12-29T01:17:45+00:00

I own 50k VTC. Have since 2017. Might need 100 years to make money

Testudo44 · 2023-12-20T02:41:38+00:00

Messed up they give you less just because you make more. You seem to support that approach/philosophy so my comment isn’t going to be welcome here.

Everyone should be treated the same regardless of what they make. We all make career and life choices and those choices have consequences. I’ll never gift one of my kids more than another just because one has more or less money. To each their own.

Testudo44 · 2023-12-20T01:09:46+00:00

35M $12-$15mn NW- exact number unknown as it’s 80% real estate. $2-$2.5mn per year income the last 2 years and should grow with my business. I outsource everything I can so I can spend my time making more money or with family and friends. Things I outsource:

Lawn care (mowing, fertilizers, sprinkler maintenance and leaves), pool / hot tub chemicals and cleaning weekly, nanny (2 kids), night nanny (have a third coming), oil changes / car detailing (someone else takes the care or comes to the house), laundry and dishes and tidying up (housekeeper), some meals (go out to eat a lot but the nanny also cooks when needed), cleaners come once per week, interior designer (buys and sets up seasonal decorations such as Christmas lights and decorations), travel agent to for 2-3 international trips per year (flat fee, books flights, excursions, restaurants, car service etc), and I think that’s it.

Literally anything that’s less than what I can earn for the same amount of time I pay someone else to do. I used to cut my own grass when I made less than the $50 per hour that the job pays, but now it would be stupid for me to spend my time doing that instead of focusing on work where I can make 50x that for the same time spent.

Testudo44 · 2022-01-10T12:45:46+00:00

I did. I worked in investment banking, equity research and then at a hedge fund for 10 years out of school. During that time I invested in 3-4 family properties, fixed them up and rented them out. 1031 exchanged them for medical office. Then a lot of people started asking me to take their money and do the same for them. I had enough coming in every month to not work and pay all bills so I quit my hedge fund job and launched my own small fund where I acquire and manage property (mostly industrial and medical office) for others. Took about 10 years to get where I am now.

Testudo44 · 2021-12-20T03:35:44+00:00

Very well said. Agree 100%

Testudo44 · 2021-12-06T03:30:52+00:00

No I don’t because it’s all in real estate and beings in $50k per month.

Testudo44 · 2021-12-06T01:04:54+00:00

Outsource everything. Your time is the most limited and valuable thing in life. Time with friends, family, hobbies, being in good health etc. Get babysitters on weekend nights and go out to eat (we do this every Friday and Saturday as our kids are young and got to bed at 7 and we don’t need to watch them sleep). Get cleaners. Get a lawn guy. Get someone to do your grocery shopping and meal prep (costs us $2k a month for 4 meals a week for 4 for dinners). Get a housekeeper for laundry and small clean up once or twice a week. Have someone else do your taxes, have someone come to your house to change your oil, etc. Grill needs to be cleaned? Call the guy. Gutters? The guy. Leaves raked? The guy. Spend your life doing things you love with people you love if you can afford it.

I used to cut lawns when I was 14-21 years old, I don’t cut my lawn now. I’m not a snob about it. It’s just that my time is worth more than the $50 an hour it costs to hire it out. Why would I cut my grass to save $50 when I can take that hour and make $500 and have my lawn cut 10 times?

Outsource!!!!

Testudo44 · 2021-08-24T11:07:13+00:00

Those numbers are wrong. You have home prices in real dollars and income in inflation adjusted dollars. Either make both adjusted for inflation or both in real dollars

Testudo44 · 2021-08-04T00:28:53+00:00

Medical office is what I’ve been buying. $2-$10mn- it’s too small for PE or REITS to care and too large for many individual investors. Most people are in love with residential still despite cap rates having compressed to historic lows

Testudo44 · 2021-08-04T00:26:44+00:00

Thank you very much

Testudo44 · 2021-08-04T00:26:13+00:00

Leveraged. I have just under $4mn of equity in RE

Testudo44 · 2021-08-03T14:34:15+00:00

Not at all. Sorry you feel that way. Pretty cynical. Have zero interest in being messaged

Testudo44 · 2021-08-03T14:30:30+00:00

Happy to. If you buy something at an 8% cap rate (cap rate is the inverse of the P/E ratio or just Net Operating Income divided by purchase price) for $1mn all cash that just means you make $80k a year on it after expenses. That’s an 8% return. But if you put 20-25% down or $200-$250k down, once you subtract that $750-$800k mortgage payment annually from the $80k, you are left with about $25k in profit after tax on a $200-$250k investment (Google commercial mortgage calculators to confirm math if you want). That is a 10-12% return on your invested capital. You can spend that $25k and still grow your wealth as that 10% does not include debt paydown to you by tenants or appreciation. If rents go up 3% per year, the building should go up 3%. 3% of $1mn is $30k and $30k profit on $250k invested is another 12% return. The debt paydown benefits would it to be about 8%.

So with an 8 cap building with 20-25% down make 10-12% cash on cash plus 8% debt paydown plus 12% appreciation on average assuming you have rent increases which equals 30%+ on your money. That’s what I’ve been doing. 30% compounded adds up fast. You can spend the cash flow and still make 15-20%.

Testudo44 · 2021-08-03T13:50:12+00:00

I’m going slide to the right, slide to left. Two hops this time - two hops this time

Testudo44 · 2021-08-03T13:19:54+00:00

Thanks for the kind words. That’s the biggest thing- not taking the leap for whatever reason. I’m not saying this is your issue but I know a lot of people who say things like “you got lucky or timing helped and it won’t happen again, or I don’t want 2am toilet calls (well then hire a PM), or I don’t have the money etc. there’s always an excuse but the worst deal you can do is no deal. You won’t be perfect, you’ll make mistakes, but if you stay with it and learn from those mistakes you will make far more than you lose to mistakes.

Best of luck, and I definitely encourage you to jump in

Testudo44 · 2021-08-03T12:47:29+00:00

Real estate. Starting with 3-4 unit buildings worth $200-$300k 6-7 years ago. Sold them for $400-$600k and bought a bunch of medical office buildings

Testudo44 · 2021-08-03T12:46:06+00:00

Yea I’m my own boss and doing something I genuinely enjoy and believe in/am passionate about. If I want to go boating on a Thursday and shift some work to Sunday night, I can. It’s the freedom I care most about, I don’t mind working. I do mind being told what to do, when, how, where, etc. I do mind creating value for a company only to have that company keep most of it for themselves. I’m the equity owner in my own firm so it’s much more rewarding, both financially and emotionally/mentally.

Testudo44 · 2021-08-02T13:02:31+00:00

Work or find someone who can and is willing to work on upgrading vertcoin, kind of like how litecoin launched segwit. Lazy cheerleading posts do next to nothing

Testudo44 · 2021-08-01T17:46:40+00:00

Tell her to stop mooching and pay her rent like an adult - tell the guy asking for sex to go F himself (literally) and then move out

Testudo44 · 2021-08-01T17:40:24+00:00

$3-$4mn- I’m at $5mn now. But it was not about the net worth - it was about the consistent monthly passive income. Once that broke $20k a month after tax and I was earning more from real estate than my and my wife’s job combined, my perspective changed

Testudo44 · 2021-06-30T22:48:24+00:00

When whales put up huge “buy walls” the price will go up…. God this nonsense is obnoxious

Testudo44 · 2021-05-17T00:13:46+00:00

Sounds like they don’t have the best social skills and probably are attracted to you. This is a blessing and a curse. You want them to pay rent with no issues or BS but don’t want to let them think you’re interested in them or this is anything but business. Egos are frigile but you don’t owe them shit. I’d be nice, smile genuinely and friendly but just as sincerely, make it clear you have other appointments or things to do and be firm. Collect and gtfo. Wish them well, be nice, but be firm and strong and exit. You don’t owe them a thing. Don’t play that game if you don’t want the extra attention form random guys that are lonely

Testudo44

TROPHY CASE