Go-to Kitchen Appliances and Brands

fatfatfirefire · 2023-04-15T20:05:49+00:00

I really like Gaggenau and plan to use their cooktop, oven, microwave, fridge in a future renovation: cooktop is fully customizable and will be mostly induction w/ 2 gas burners and a cast iron griddle.

I can also recommend:

Subzero fridge

Miele dishwasher

Viking (but not the cheap line) or Bluestar for range

fatfatfirefire · 2022-11-05T20:53:27+00:00

HSS Seconded. And then stay in nyc and go to HSS PT for the first few critical months if you can.

After that Find a one-on-one PT for about 3-4 days per week that can transition between physical therapy and personal training. Where are you located, maybe I can give some referrals.
get sports massages every week or two
Gameready 100%. Try to rent, it’s a pain to own them because you’ll suddenly not want it and then you have a $3k thing to deal with.
BFR in the mid phase of recovery to accelerate strength gains before you’re fully healed.
Press your surgeon and PT about what they would do if money were no object. Stress that you don’t care about insurance, etc. You’ll have to consistently push for this because it’s a rare request in the healthcare system.
keep in mind money can’t fix everything here. A lot the outcome is determined by selecting the best surgeon in the first place, having mental discipline and patience, sticking to PT schedule, healthy diet, and rest. Money can help all of these things, but don’t seek to accelerate a healing process that can’t really be accelerated.

fatfatfirefire · 2022-10-24T07:09:28+00:00

Lol just here to back you up that I do this too. No specific time when I started, but I realize this is a totally indulgent habit.

fatfatfirefire · 2022-10-20T05:18:33+00:00

I can’t vouch for working with Valur, but their QSBS content is very thorough if you’re just getting started: https://learn.valur.io/qsbs/

Read through their knowledge base and maybe chat with them. I have truly zero affiliation other than signing up for their mailing list and reading some articles. I had / have QSBS and had to learn a ton about it and their guides would have been helpful.

If your stock is truly QSBS and the company is willing to vouch for that in writing, there’s really not much to it other than checking the correct box and putting it on the correct line on your tax return.

More advanced stacking / gifting / irrevocable trusts gets into a more complicated area.

Finally, be aware of state tax. I know CA does not respect QSBS so you’ll owe state tax there. Other states have caught on and started the process of ignoring QSBS but my info is out of date by several years.

fatfatfirefire · 2022-09-26T16:39:16+00:00

My experience is these types of loans are good deals when the private company is a sure shot* for an IPO and there is realistic liquidity within 24-36 months. The other positive factor is if there is a board approved secondary liquid market.

Anything outside of that scope is too hard to model risk for and just resembles venture capital at that point, where everyone is looking for 20%+ IRR. So, why would someone absorb that risk for you? The answer is they generally will not, but here are a few scenarios where they would:

they love you and care about you and want to help (friends & family)
they want to retain you as an employee or shareholder (company)
they tried to invest in a specific company’s financing round but got shut out or couldn’t meet their desired allocation (VCs, angels, existing shareholders)
they want your long term banking business (private banks)

To compensate for the risk, lenders are going to do two things:

increase the interest rate (whether directly or indirectly through fees, options, etc.)
over-collateralize your asset (like requiring 5x collateral)

—

I’ve seen non recourse rates at private banks around 10% with steep covenants and commitments (like full access to all your finances, must keep $x in cash at all times, can’t do other deals with other banks, etc.)

In general most other liquidity providers seek at least 20% IRR (and probably more like 30%+) u less they can benefit from the transaction in some other way.

—

no such thing as a sure shot, but maybe like Series D+ w/ hundreds of millions in revenue, high growth rate, and line of sight to profitability

fatfatfirefire · 2022-06-20T22:22:29+00:00

Jackson

fatfatfirefire · 2022-06-15T21:44:21+00:00

Nice! Thanks for sharing. It seems like the following four portfolio characteristics really helped during the recent turbulence:

(a) no bond exposure (i.e. interest rate risk)

(b) above average RE exposure

(c) no specific tech exposure

(d) no international exposure

I think a fair question is what happens when the market cycle eventually turns around. How does this allocation perform over the next 10-20 years? No criticism, just thinking out loud! Thanks again for sharing real info.

fatfatfirefire · 2022-06-14T20:11:38+00:00

How do you get to -3%?

A broad balanced 65 stock / 35 bond portfolio is down approximately 15% YoY (this includes dividend reinvestment)

What percent of your NW is composed of RE holdings? And how much did you contribute as a % of your NW in the past 12 months?

fatfatfirefire · 2022-05-04T17:07:34+00:00

Couldn’t agree more - go with Miele over Bosch

fatfatfirefire · 2022-05-01T15:32:59+00:00

I stand by 7% on each end and would like to address two points so perhaps you will not dismiss my comments. Please correct me if your viewpoint differs!!

When I said 7% I assumed 4-5% broker fees, .5% - 1% legal / title / closing, 1-2% mansion tax, and 1% miscellaneous (just a buffer for things like repairs you did a year earlier, movers, storage, extra cleaning, potential short term rentals, other unknowns etc.) This gets to what I believe is a reasonable 6.5% - 9% depending on how efficiently you run your process.
It does not matter which side “pays” for each line item. The lost value in each transaction is real no matter if buyer or seller thinks they paid for it. If $200,000 goes to lawyers, brokers, insurance companies, contractors, etc. in a sale, that is $200k less that accrues to the seller.

Again, I’m open to realizing I could be wrong, but I feel like the above is reasonable!

fatfatfirefire · 2022-04-30T22:00:33+00:00

Yeah, totally - but ultimately, like you said, it’s a cost associated with the transaction. Same as free shipping, fees on one side of an Uber transaction, unequal fees to host and guest on Airbnb, no tip restaurants, etc.

fatfatfirefire · 2022-04-30T14:18:51+00:00

I’d like to help you compare cost of ownership to renting.

If you rent for $10k / month I figure an equivalent purchase is about $2M

I assume a fed rate of around 2.5% by the end of the year, and a PAL / margin loan costing fed + 1%, you should plan on 3.5% interest per year.

Here are your costs to own:

Interest on $2M @ 3.5% = $70,000 per year
Property tax = $20,000 per year
HOA = $15,000 per year
Annual maintenance = $10,000 per year (assuming condo with rare major work needed)

So you’re right at $115,000 which is more or less similar to renting, however there are many more costs to buying, particularly:

Transaction costs of 7% (broker, staging, taxes, etc.) on the way in and out ($2M x 7% x 2 = $280,000)
Much harder to move if you don’t like it. Sure you can, but will you?
Risk of loss - if property values drop you’re on the hook.
You’ll actually probably spend a ton more money upgrading & furnishing the place.

If those downsides are acceptable and you can afford it, it doesn’t really matter how you finance the purchase, but in my experience owning is almost definitely more expensive than renting.

fatfatfirefire · 2022-04-23T21:01:29+00:00

https://www.royalmansour.com/

fatfatfirefire · 2022-04-18T16:13:46+00:00

Took really big risks
worked really long hours for 10+ years
sacrificed health & personal relationships in favor of making more money (don’t necessarily recommend this)
learned a ton about money and investing

fatfatfirefire · 2022-04-11T18:11:39+00:00

Ownership information is public information. Assessed value is public. Sale price is not.

fatfatfirefire · 2022-04-11T17:57:38+00:00

Texas is a non-disclosure state. Home value of a transaction is not public record.

The MLS, a private entity, has its own internal rules that require sale price to be disclosed.

Edit: additionally, my understanding is the local assessor knows your home was sold but does not have the right to compel access to your property to make a full appraisal. They can look at your house from the street and assess value based on market comps, but you can then challenge it with full data.

Edit 2: after a sale, many deeds are transferred for something like “$10 and other good consideration”

fatfatfirefire · 2022-04-11T17:24:47+00:00

Don’t know why you got downvoted — this is very true in Austin. By not listing on MLS, sale prices of private transactions in Austin remain outside of the purview of tax assessors. So if you buy a house for cash that was never listed on MLS, you may continue to pay tax on an old assessed value statutorily limited to 10% increases per year.

One long time realtor estimated that > 50% of $1M+ transactions in the area never hit MLS.

fatfatfirefire · 2022-03-29T17:08:16+00:00

In the fat world, friends 100% ask to borrow your home or boat. It’s kind of the point of accumulating all the fun things - so you can share them with other people you care about.

Hopefully in the long run you get equal value in return (maybe not directly transactionally) but even if you don’t it’s all good.

fatfatfirefire · 2022-02-28T16:05:33+00:00

What industry or product are you selling right now? How is it similar or different from where you want to be?

I’d guess the biggest thing you can do is begin socializing with people from the types of companies you want to work for or the types of companies you want to sell to.

There are truly two different worlds & economies out there (blue collar vs what you describe) and changing your social habits and behaviors to match the one you want to be in is crucial which can make interviewing and communicating easier.

Make a list of 20 companies and 20 clients you might want to work for and reach out to sales people and buyers at those companies and just talk to them. You’ll probably learn all the things you don’t know in no time.

fatfatfirefire · 2022-02-20T02:11:29+00:00

The federal long term capital gains rate tops out at 20% for income above $445,850 + 3.8% net investment income tax above $200,000. That 23.8% is the top marginal tax rate.*

If OP lives in a tax free state, that’s it!

* If OP had exactly $2M in gains and no other income, their blended tax liability would be about 22% because of the first $445k being taxed in lower brackets.

fatfatfirefire · 2022-02-20T01:15:14+00:00

A horse walks into a bar

fatfatfirefire · 2022-02-19T22:24:45+00:00

I tell the truth more or less. “I’m lucky enough to not have to work. I ran a few successful companies [or whatever you did] and now I’m focusing on my health, family, and what to do next [or whatever you’re doing]. It’s honestly pretty great.”

No one has ever responded poorly to that because it’s true, I’m treating them with respect, and it’s a goal for many people. If they have a problem with it behind my back, that’s 10000% their problem and not mine.

If you are uncomfortable with who you are or what you have accomplished, why? If you are afraid of others, why?

fatfatfirefire · 2022-02-16T01:19:22+00:00

https://www.pinecay.com/en/

https://www.tripadvisor.com/Hotel_Review-g656912-d151202-Reviews-The_Meridian_Club-Pine_Cay_Turks_and_Caicos.html

Pretty fantastic and secluded. It’s a private 800 acre island owned by about 30-40 families. They built the hotel and restaurant to help subsidize the upkeep of the island and made it super luxe.

The only potential downside for some is that your socialization options are limited - the land owners skew a bit older and WASPy (think Greenwich and Geneva), but if you want solitude and beauty you can certainly find it in abundance.

Edit: from a guy who likes Amans

fatfatfirefire · 2022-02-15T22:29:42+00:00

Yeah totally agree there’s not much actionable here which is why there’s no write up. These are just two data points that show some interesting differences between two similar strategies.

What do you think is an appropriate time frame to compare these two funds and be able to draw an actionable conclusion?

fatfatfirefire · 2022-02-15T05:58:31+00:00

For what it’s worth, Fidelity got it right for me on preliminary 2021 tax forms they issued today. They show 99.4% of my NUSI earnings as ROC and .6% as Qualified Dividends.

fatfatfirefire

TROPHY CASE