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Forum » lol just fukin lol @ people who don't have passive income
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Thread: lol just fukin lol @ people who don't have passive income

post 1486428271 03-08-2017, 02:50 PM
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Originally Posted By Cre8tiveLifter⏩
chit is for lazy azz people

no thx jeff
posts in a thread about passive income, says it's for lazy azz people...

lol just lol
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post 1486428401 03-08-2017, 02:51 PM
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invest in yourself
Have a good day, fellow miscer.
post 1486429811 03-08-2017, 03:01 PM
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So OP got an interest free loan from his parents and now made a thread with a title belittling other miscers who don't have investments? Strong everything.
post 1486430721 03-08-2017, 03:07 PM
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that's okay brah, not all of us will make it and I'm glad it's that way, can't have winners without loser
I bounce my ideas off of people who have money or are working full time with good credit etc.

I'm referring to people who don't try to improve or help themselves.
"There are some who do not fear death for they are more afraid of really living."-Ancient proverb




Between the buried and me
post 1486430791 03-08-2017, 03:08 PM
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Originally Posted By ashin1⏩
i must say it sure feels good not having to pay interest on a 45k loan!
LOL @ your broke parents

feels good to know my kids will have their lives set from the moment they are born

so if my parents loaned me 45k and my net worth is over a .25M where did i get the other monies from?

its called working maybe you should try it out you may like it
LMAO again. First of all, I DO work, I already stated I was using "money I EARNED" to buy a rental property. You need to work on your reading comprehension, it would help if you read some books, instead of just "seen"ing them. I actually grossed more than you did last year, I just don't post pics of my 1040 because I'm not a tryhard baby trying to impress people with money.

My parents actually are successful business people and could easily/willingly give me an interest free loan, but some people (like me) try to make it in this world on their own merits, instead of running to mommy and daddy to do everything for them. Success tastes sweeter when you make it happen yourself.

Btw I am buying a big boy rental property, not a fukking mobile home
post 1486435861 03-08-2017, 03:46 PM
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Originally Posted By DrunkPanda18⏩
LMAO again. First of all, I DO work, I already stated I was using "money I EARNED" to buy a rental property. You need to work on your reading comprehension, it would help if you read some books, instead of just "seen"ing them. I actually grossed more than you did last year, I just don't post pics of my 1040 because I'm not a tryhard baby trying to impress people with money.

My parents actually are successful business people and could easily/willingly give me an interest free loan, but some people (like me) try to make it in this world on their own merits, instead of running to mommy and daddy to do everything for them. Success tastes sweeter when you make it happen yourself.

Btw I am buying a big boy rental property, not a fukking mobile home
I must say it sure feels good to be mortgage free
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post 1486436041 03-08-2017, 03:47 PM
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great anther passive income thread

same stupid methods same rhetoric same vague useless bull****

how do these get 500 replies?
Have a good day, fellow miscer.
post 1486436241 03-08-2017, 03:49 PM
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Originally Posted By ashin1⏩
I must say it sure feels good to be mortgage free
Oh you didn't mention you were an entitled leech in the op, that would have good to know from the start
I don’t want a large farva, I want a goddamn liter of cola

Send In The Clowns
post 1486436511 03-08-2017, 03:51 PM
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Originally Posted By Fuqdatass⏩
Oh you didn't mention you were an entitled leech in the op, that would have good to know from the start
statistics show you should just give up in the financial department bruh
Have a good day, fellow miscer.
post 1486440771 03-08-2017, 04:26 PM
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Originally Posted By Fuqdatass⏩
Oh you didn't mention you were an entitled leech in the op, that would have good to know from the start
i love how mad you get @ the fact that i was offered an interest free $45k loan and i didn't turn it down.

Originally Posted By Restraint⏩
great anther passive income thread

same stupid methods same rhetoric same vague useless bull****

how do these get 500 replies?
because any pleb can start building stream of passive income. even you boyo
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post 1486441181 03-08-2017, 04:30 PM
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Options and stocks are my main source. I'm looking for something more passive, considering the amount of work and research I do to make money trading isn't exactly "passive."

Every market just seems so saturated. Amazon, eBay, Insta/YouTube, and the social media crowd just seems so desperate and petty.
post 1486441941 03-08-2017, 04:36 PM
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Originally Posted By Who?⏩
Options and stocks are my main source. I'm looking for something more passive, considering the amount of work and research I do to make money trading isn't exactly "passive."

Every market just seems so saturated. Amazon, eBay, Insta/YouTube, and the social media crowd just seems so desperate and petty.
yeah if you legit have some sort of talent/entertainment skills you can leverage, then its probably more easier to use social media for creating ad related passive income, but for normal brahs it can be tougher.

index investing is what i hear about the most on the misc, like the 4% rule, but what about the case where FEDs hike the taxes on capital gains, or if the market performed poorly?

that's why i like dividends, no work needed, buy, collect, and reinvest.
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post 1486446261 03-08-2017, 05:08 PM
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These threads are like pyramid schemes or cults

Vague useless information
Stronglifts crew
2L of milk crew
Shet eater crew
Chemistry brah
post 1486495641 03-09-2017, 03:52 AM
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Originally Posted By ashin1⏩
You sound like you are trying to find a way to cope...
At least you are trying lol





that's okay brah, not all of us will make it and I'm glad it's that way, can't have winners without loser
hey we need people to rent our properties cause their "balla" car they brought on credit eats up any deposit on a house they might have put together
post 1486495851 03-09-2017, 03:55 AM
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Originally Posted By ashin1⏩
i love how mad you get @ the fact that i was offered an interest free $45k loan and i didn't turn it down.

so normally you would have to pay interest on a $45k loan, whats that 4% per year? so the gift you are getting is not paying the interest.. which is worth... a whopping $1,800 a year.. so thats the effective "gift" your parents are giving you...


and these *******s on the misc are all salty cause of that? $1,800... wow. lol
post 1486495891 03-09-2017, 03:56 AM
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Originally Posted By Gizzyhardcore⏩
hey we need people to rent our properties cause their "balla" car they brought on credit eats up any deposit on a house they might have put together
He doesn't have a property

He has a 45k trailer in saske-bumble-fukk nowhere.
2023 bertie awards 2024 nominations

https://forum.obnoxiousbrutes.com/showthread.php?t=184693083
post 1486495941 03-09-2017, 03:57 AM
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Originally Posted By Gizzyhardcore⏩
so normally you would have to pay interest on a $45k loan, whats that 4% per year? so the gift you are getting is not paying the interest.. which is worth... a whopping $1,800 a year.. so thats the effective "gift" your parents are giving you...


and these *******s on the misc are all salty cause of that? $1,800... wow. lol
No try reading the thread

It was a gift that he pays back as and when, or not at all. Try that with a bank, even interest free.
2023 bertie awards 2024 nominations

https://forum.obnoxiousbrutes.com/showthread.php?t=184693083
post 1486496821 03-09-2017, 04:24 AM
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Originally Posted By DrunkPanda18⏩
LMAO again. First of all, I DO work, I already stated I was using "money I EARNED" to buy a rental property. You need to work on your reading comprehension, it would help if you read some books, instead of just "seen"ing them. I actually grossed more than you did last year, I just don't post pics of my 1040 because I'm not a tryhard baby trying to impress people with money.

My parents actually are successful business people and could easily/willingly give me an interest free loan, but some people (like me) try to make it in this world on their own merits, instead of running to mommy and daddy to do everything for them. Success tastes sweeter when you make it happen yourself.

Btw I am buying a big boy rental property, not a fukking mobile home
Strong this. Just fukking lol at op taking a 45k gift from his parents he won't pay the majority of back, choosing to live in a trailer home with a roommate and working chit tons of overtime just so he can come on the misc and laugh at people who don't follow the same desperate strategy to acquire a measly .25mill (Canadian) worth. Get off your high horse son, you're not impressive or inspiring in any way.

17 page thread and he keeps going on bragging about having wealthy parents as if he had a hand in any of their success, mommy and daddy probably told him which stocks/index funds to buy as well, no doubt the majority in the Chinese stock exchange
post 1486497551 03-09-2017, 04:37 AM
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Originally Posted By samsbolton⏩
No try reading the thread

It was a gift that he pays back as and when, or not at all. Try that with a bank, even interest free.
so hows that mortgage of yours going? - the one you got when you made a 100% down payment?
post 1486497811 03-09-2017, 04:41 AM
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Originally Posted By Gizzyhardcore⏩
so hows that mortgage of yours going? - the one you got when you made a 100% down payment?
What

One property mortgage free

One 60% equity.

And that's near London not in a sheep field in upside down world
2023 bertie awards 2024 nominations

https://forum.obnoxiousbrutes.com/showthread.php?t=184693083
post 1486498311 03-09-2017, 04:50 AM
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Originally Posted By quadfecta⏩
He's right. A couple rental properties will yield enough to pay the mortgage but it's not like you're banking significant returns to increase your net worth.
It's not so much the short term it's setting yourself up long term.

Say I buy a rental for 100k. I put 10k down. Mortgage is $800 on a 15 year loan PITI.

Home rents for $900. I make a measly $100 a month, not counting repairs and expenses.

BUT, I also am paying down $300 in principal each month, and I also get to deduct all that mortgage interest on my taxes, as well a small depreciate the home over 27.5 yeRs.

Oh yeah, and That mortgage payment is covered by the renter. And in fifteen years there is no more mortgage payment. Oh yeah, and a house appreciates in value.

Point is rentals won't make you rich overnight, but they don't require a lot of day to day work (I own 7), and they will set you up very well long term. All about buying the right place and picking the right tenants.
post 1486498551 03-09-2017, 04:55 AM
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Originally Posted By samsbolton⏩
What

One property mortgage free

One 60% equity.

And that's near London not in a sheep field in upside down world
you seemed to think before that even if you buy a house 100% down, you still have a mortgage.. do you want me to quote you?
post 1486498801 03-09-2017, 05:00 AM
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Originally Posted By Rocalvic⏩
These threads are like pyramid schemes or cults

Vague useless information
Actually the OP has provided some really good info on the nuts and bolts of investing:

http://forum.obnoxiousbrutes.com/showth...hp?t=162127801

But has probably resorted to trolling now because of so much negativity on the misc from miserable haters such as samsbolton lol.

You will get a lot further if you have a positive attitude rather than trying to bring people down, it really narrows your world and gives you a bleak outlook on life. ELE misc (Everybody Love Everybody)
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post 1486498931 03-09-2017, 05:03 AM
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Originally Posted By Oinkerjnn⏩
It's not so much the short term it's setting yourself up long term.

Say I buy a rental for 100k. I put 10k down. Mortgage is $800 on a 15 year loan PITI.

Home rents for $900. I make a measly $100 a month, not counting repairs and expenses.

BUT, I also am paying down $300 in principal each month, and I also get to deduct all that mortgage interest on my taxes, as well a small depreciate the home over 27.5 yeRs.

Oh yeah, and That mortgage payment is covered by the renter. And in fifteen years there is no more mortgage payment. Oh yeah, and a house appreciates in value.

Point is rentals won't make you rich overnight, but they don't require a lot of day to day work (I own 7), and they will set you up very well long term. All about buying the right place and picking the right tenants.
This. Knowledge.

Also what can happen is you buy them for rental yield (positive cashflow). Ie you crunch the numbers, you work out the rent covers all the expenses (running costs + interest on mortgage), and you have a bit left over at the end to pay the mortgage off faster or put in your own pocket. Rent, in theory, will increase with inflation too.

With capital gain, and this is what happened to me, is sometimes (depending on the area you brought in), the capital value goes up much faster than the rent.
The property you brought for $220k that rents for $360 a week, (approx 8.2% gross yeild) now, 10 years later is worth $650k and only rents for $450 a week. (3.4% gross yeild). So you have an asset thats worth $650k that only gives you 3.4%.
Better off to sell it and use that money elsewhere.

In my case though I refurbished it to sell, spend $15k new carpet, kitchen appliances, painted all the interior etc. Never got the sell price I want, but put new tennants in at $610 per week, and its not quite worth $650 (because it didnt sell for that), maybe its worth $600k, but it now has a yeild of just over 5%, which is ok by me for the time being.
post 1486499211 03-09-2017, 05:08 AM
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Originally Posted By Oinkerjnn⏩
It's not so much the short term it's setting yourself up long term.

Say I buy a rental for 100k. I put 10k down. Mortgage is $800 on a 15 year loan PITI.

Home rents for $900. I make a measly $100 a month, not counting repairs and expenses.

BUT, I also am paying down $300 in principal each month, and I also get to deduct all that mortgage interest on my taxes, as well a small depreciate the home over 27.5 yeRs.

Oh yeah, and That mortgage payment is covered by the renter. And in fifteen years there is no more mortgage payment. Oh yeah, and ahouse appreciates in value.

Point is rentals won't make you rich overnight, but they don't require a lot of day to day work (I own 7), and they will set you up very well long term. All about buying the right place and picking the right tenants.
That part is the key to property investing IMO, you can outperform Warren Buffett investing with leverage. Put a 10% deposit down on a 500k property growing at just 5% a year and your ROI is 50% per annum. (25k profit per year / 50k deposit). You just need to understand using debt to purchase appreciating assets.
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Originally Posted By Gizzyhardcore⏩
This. Knowledge.

Also what can happen is you buy them for rental yield (positive cashflow). Ie you crunch the numbers, you work out the rent covers all the expenses (running costs + interest on mortgage), and you have a bit left over at the end to pay the mortgage off faster or put in your own pocket. Rent, in theory, will increase with inflation too.

With capital gain, and this is what happened to me, is sometimes (depending on the area you brought in), the capital value goes up much faster than the rent.
The property you brought for $220k that rents for $360 a week, (approx 8.2% gross yeild) now, 10 years later is worth $650k and only rents for $450 a week. (3.4% gross yeild). So you have an asset thats worth $650k that only gives you 3.4%.
Better off to sell it and use that money elsewhere.

In my case though I refurbished it to sell, spend $15k new carpet, kitchen appliances, painted all the interior etc. Never got the sell price I want, but put new tennants in at $610 per week, and its not quite worth $650 (because it didnt sell for that), maybe its worth $600, but it now has a yeild of just over 5%, which is ok by me for the time being.
Hey look, somebody else that understands numbers and math. Agree with all this.

I do this too, and I flip homes too (and have done so for a decade not some Jonny come lately). Problem is flips and rentals are both great but one is abuot short term wealth generation one is about long term. One needs cash, one needs credit. It's a dance.

I try to buy one rental a year, but pricing is gretting crazy so I either need to move my new rentals further uot (I have two an hour away I haven't been inside in over six months just get a check each week) or put more money down.

Goal is to have ten paid off in ten years, and I'm on track for that. And no I don't want to retire at 45, I love what I do, but at that point that income stream should be significant.

Also if yuo want to get into this meet with an accountant the tax implications (both good and bad) are significant.

And yes yuo can start with very little money but you better have something to bring to the table I.e. Carpentry or building knowledge.
post 1486499661 03-09-2017, 05:14 AM
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Originally Posted By keels141⏩
That part is the key to property investing IMO, you can outperform Warren Buffett investing with leverage. Put a 10% deposit down on a 500k property growing at just 5% a year and your ROI is 50% per annum. (25k profit per year / 50k deposit). You just need to understand using debt to purchase appreciating assets.
5% appreciation a year is strong. We are booming now, wasn't the case ten years ago, remember. There are multiple schools of thought on this.

The wealthiest investors I know target single family homes in good areas. Guys simply looking for an income stream target multi family homes. Cheaper houses equal better ROI/cap rate, more expensive homes equal better appreciation. Of course there are exceptions to both rules.

I own both. I just sold a great home and buoght a cheaper one. The great home was bringing in $2100 a month. Itin one of the best neighborhoods in the city. I sold it for 335k (in 2 days) and bought a home in an up and coming neighborhood for 100k that's renting for $1200. My reasoning was the rent curve reached its peak in house one. And the second home I can see that rent get higher nad higher as time goes on.

Miscers want easy money. There is no such thing. I fell flat on my face when I tried to start at this ten years ago or so and went back to the drawing board to build my network and learn the industry.
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Originally Posted By Gizzyhardcore⏩
This. Knowledge.

Also what can happen is you buy them for rental yield (positive cashflow). Ie you crunch the numbers, you work out the rent covers all the expenses (running costs + interest on mortgage), and you have a bit left over at the end to pay the mortgage off faster or put in your own pocket. Rent, in theory, will increase with inflation too.

With capital gain, and this is what happened to me, is sometimes (depending on the area you brought in), the capital value goes up much faster than the rent.
The property you brought for $220k that rents for $360 a week, (approx 8.2% gross yeild) now, 10 years later is worth $650k and only rents for $450 a week. (3.4% gross yeild). So you have an asset thats worth $650k that only gives you 3.4%.
Better off to sell it and use that money elsewhere.

In my case though I refurbished it to sell, spend $15k new carpet, kitchen appliances, painted all the interior etc. Never got the sell price I want, but put new tennants in at $610 per week, and its not quite worth $650 (because it didnt sell for that), maybe its worth $600k, but it now has a yeild of just over 5%, which is ok by me for the time being.
Nice work bro! But why would you sell?

If you sell you have to pay tax on a 400k capital gain, plus real estate agent's fees on top of that.

If that was in Australia you would pay:
- ~$50,000 in tax
- ~$20,000 in agent's fees

And then once you get the money, what will you do with it - invest it back into the market? Transaction costs are so expensive it is not worth it IMO. My plan is to buy and hold for decades.

If you need cash just go to the bank and get a line of credit on the property.
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Originally Posted By keels141⏩
Nice work bro! But why would you sell?

If you sell you have to pay tax on a 400k capital gain, plus real estate agent's fees on top of that.

If that was in Australia you would pay:
- ~$50,000 in tax
- ~$20,000 in agent's fees

And then once you get the money, what will you do with it - invest it back into the market? Transaction costs are so expensive it is not worth it IMO. My plan is to buy and hold for decades.

If you need cash just go to the bank and get a line of credit on the property.
yeah the agent told me 675, which would net me about 650. And at the time it was renting for $450 a week, which is about $22,500 rent per year. Then I have to take a few expenses off, so at the most it might be $20k. (no mortgage though).

so i have this $650k asset that only generates $20k... an asset that I don't think will go up in value much anymore, at least in the short to medium term (NZ property market, esp Auckland, is way over valued at the moment - you guys over in Aus are experiencing much the same I think?)

so $20k from a $650k asset is pretty sheit, thats only just over 3%, so I thought I can sell, get the cash out for something else to earn more than 3% - for instance on my peer to peer lending I get 15%, but in no way would I be happy dumping $600k into that.

But as it turns out it didnt sell for even 650k, so its not worth that, maybe its worth $600k. and once I done it up for sale (new appliances, paint etc) I was able to rent it for $610 a week rather than $450. so the return is about 5%, which is not great.. but its acceptable. The 5% is pretty reliable too, other asset classes may return more, but more risk, and funny thing is I don't wanna lose part of my $600k

edit - in NZ we don't have capital gains tax. Unless you are defined as a trader, and me selling a property after 14 years of renting it, is not at all defined as a trader.
post 1486500631 03-09-2017, 05:28 AM
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#510
  1. Gizzyhardcore
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  1. Gizzyhardcore
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Originally Posted By Oinkerjnn⏩
5% appreciation a year is strong. We are booming now, wasn't the case ten years ago, remember. There are multiple schools of thought on this.

The wealthiest investors I know target single family homes in good areas. Guys simply looking for an income stream target multi family homes. Cheaper houses equal better ROI/cap rate, more expensive homes equal better appreciation. Of course there are exceptions to both rules.

I own both. I just sold a great home and buoght a cheaper one. The great home was bringing in $2100 a month. Itin one of the best neighborhoods in the city. I sold it for 335k (in 2 days) and bought a home in an up and coming neighborhood for 100k that's renting for $1200. My reasoning was the rent curve reached its peak in house one. And the second home I can see that rent get higher nad higher as time goes on.

Miscers want easy money. There is no such thing. I fell flat on my face when I tried to start at this ten years ago or so and went back to the drawing board to build my network and learn the industry.
mirin one property a year. Yep its not easy money at all - you need to plan, hunt for deals, when your;e starting out you need to manage your money, make sure there's minimal vacancies etc, i remember being the property manager myself, cleaning the place for new tenants about to move in, picking toe nails out of the carpet that the vacuum wouldn't suck up.

But looking back now, its been worth it obviously. Of course you get lucky with good capital gains, but you don't get the capitals gains if your'e not in the game, and to be in the game usually requires some hard work. Or discipline. In the case of OP, a $45k interest free loan could easily be spent on a car. But OP has invested it, and then is maximizing his investment funding by minimizing his expenses (living in a shack).
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