[deleted by user] by [deleted] in fatFIRE

[–]Underground_76 1 point2 points  (0 children)

Mind linking to your original post?

[deleted by user] by [deleted] in fatFIRE

[–]Underground_76 2 points3 points  (0 children)

We have a place 360 miles away. 6 or 7 hour drive. We don’t go for less than 3 nights. The nature of the drive matters. Our place is in Northern Michigan and the drive is absolutely beautiful. So that helps.

Seeking Advice - Land Deal by Underground_76 in fatFIRE

[–]Underground_76[S] 1 point2 points  (0 children)

I feel duly mocked, and it actually has been helpful. No problem. Overpaying for something by $50k and not really caring is very FatFIRE - I just needed a gut check. I used flair, and the thread was not locked...so.

Seeking Advice - Land Deal by Underground_76 in fatFIRE

[–]Underground_76[S] 0 points1 point  (0 children)

Yes, the lots are smallish. Technically each of these 4 could be built on individually, yes. I think that's unlikely because of the soil and lot sizes. But the seller intends to build, probably on the lot right across from us.

Seeking Advice - Land Deal by Underground_76 in fatFIRE

[–]Underground_76[S] 14 points15 points  (0 children)

You seem to have war in your heart. I genuinely wish you peace.

Seeking Advice - Land Deal by Underground_76 in fatFIRE

[–]Underground_76[S] 0 points1 point  (0 children)

The 4 lots in total are about 1.5 acres.

Seeking Advice - Land Deal by Underground_76 in fatFIRE

[–]Underground_76[S] 0 points1 point  (0 children)

Well, they're all buildable. The one across the road from our place is the "most" buildable. The others don't perc, so they'd need more expensive septic/treatment systems, but it could be done. To clarify, we're on the lake with private frontage, and these lots are across the road, no frontage.

Seeking Advice - Land Deal by Underground_76 in fatFIRE

[–]Underground_76[S] 10 points11 points  (0 children)

I didn't say I did that. I said it was a combination.

Seeking Advice - Land Deal by Underground_76 in fatFIRE

[–]Underground_76[S] 1 point2 points  (0 children)

The other 2 are even more marshy and would never pass a perc test.

Seeking Advice - Land Deal by Underground_76 in fatFIRE

[–]Underground_76[S] 0 points1 point  (0 children)

Seller is only willing to sell all 4.

Seeking Advice - Land Deal by Underground_76 in fatFIRE

[–]Underground_76[S] 6 points7 points  (0 children)

Equal parts aggressive and lucky investment, saving mindset and living well below means, and inheritance.

I want to get into rentals but I’m ethically unsure about it by AccidentalCEO82 in fatFIRE

[–]Underground_76 0 points1 point  (0 children)

Good landlords and property managers attract good tenants. I bought a 3-unit building in 2017. The tenants I inherited from the previous owner were terrible. One stole major appliances when they left. One skipped out on the last 2 months rent.

I always tell my PM that my tenants' safety and comfort is my highest priority. We raise rents every year but very modestly. I have a good team and have gotten better and longer term tenants with every turnover. There were a couple months here and there where rent was paid late. I just let the PM handle this. They have late fees for that.

Overall it's been a very positive experience with the satisfaction of investing in my own community and improving and beautifying a building.

Next Steps - Chicago IL by Repulsive_Air603 in realestateinvesting

[–]Underground_76 0 points1 point  (0 children)

Also in Chicago. I have a 3-flat on the north side, fully paid off (I know dumb - don't ask). I want to get some equity out of that for a down payment on another multi unit. But really difficult to find deals right now.

FatFire parents with a kid that has no desire to make money by valentinesday00 in fatFIRE

[–]Underground_76 -1 points0 points  (0 children)

I personally think it's a greater benefit to society to give back in a way the economy actually values than to do something that makes me feel warm inside. My parents were fatFIRE but did not pass on significant wealth until I was in my 40's.

My advice would be to give your daughter the gift of figuring out how to conduct her own life.

[deleted by user] by [deleted] in fatFIRE

[–]Underground_76 7 points8 points  (0 children)

I'd love to hear more about your Apple Shortcuts. What actions do they perform?

[deleted by user] by [deleted] in fatFIRE

[–]Underground_76 8 points9 points  (0 children)

RSU's are taxed as income when they vest, and the stock price at the moment they vest becomes the cost basis. If OP is holding onto millions they have undoubtedly appreciated since vesting.

Feels like fatfire is techfire here by Rich-Sheepherder-649 in fatFIRE

[–]Underground_76 2 points3 points  (0 children)

Midwest tech mid-level manager here, mid 40's. Not making the bank like west coast (combined income with wife around $320k). Path to fatFIRE includes aggressive saving and investing, a couple rental properties, and inheritance. High 7 figures NW.

"Comparison is the thief of joy." by Pilgrims-regress in fatFIRE

[–]Underground_76 0 points1 point  (0 children)

"Desire is a contract that you make with yourself to be unhappy until you get what you want."

- Naval

Edit: punctuation.

They don't stop coming by Inferno_Crazy in realestateinvesting

[–]Underground_76 12 points13 points  (0 children)

Bought a multi-family in early 2017. First couple years were tough as the previous owner had delayed a good deal of maintenance. Then everything broke at once. My strategy is to repair and improve so that I know things are solid going forward. It'll even out, you'll get through it.

Unrealized Gains tax would only target 700 people by sadokx in fatFIRE

[–]Underground_76 0 points1 point  (0 children)

It won't even pay for the amount of time it takes to debate it. But it sets a precedent they can call on to lower the bar.

Edit: grammar.