So my old family business was real estate, dating back to reconstruction post civil war. My family were considered carpetbaggers ( They were ) and made a killing off the low property values In the south at the time. Sadly my grandfather fucked all that up, giving up 200k In the 1930's after a moral argument with his father. My great grandfather was pro nazi and therefore pro isolation while my grandfather was a patriot and left to go and fight the nazi's for three years and staying In occupied Germany for three more years creating a rift between the rich In my family and himself that would never recover. He returned home a poor man and became an electrician. Now I want to restart my family's success, I have cousins on the west coast still in the business and are near billionaires however my side of the family as been poor since the 50's, I'm 18 and straight out of high school and intend to claw my way to the top of the real estate market with no start off cash; my family was glorious and elite ( Most of my family technically still Is, my side are the black sheep ) and I wish that for my children. Anyone here successful In the real estate market ( preferably starting around my age ) how did you make It? What were some tips you wish you could tell yourself at my age? Any input Is greatly appreciated. I'm not In this to make cash fast, I know how long these things take, but damn If I don't atleast try.
I intend to restore my families greatness. Cypto bullshit won't help me do that. I want to have buildings with my surname on them as my ancestors did. I want to control half of a city's property as my great-great grandfather did. I have no interest In settling for anything less. I shall bring back glory to my family name or die trying. I just want to know what any real estate elites here can give me some sage advice. I need some Trump-esque bois In here to school me on how to start at the bottom. Sadly the south Isn't In shambles like It was back In the day.
> with no start off cash
Your mission is admirable, but you need some capital before you can start flipping properties (which is probably the way you'll have to go until you get serious cash).
>insert suck dicks for spare change meme here
>insert ethereum meme here
>insert STEM meme here
Anonymous person claiming to be a millionaire here. This is what I'd recommend:
>just follow your passion and the money will come
>just follow your dreams, and the money will be there
>just be yourself, and the money will come
>just be happy, and the money will be there
>work really hard, and the money will come
>work really smart, and the money will be there
This advice has worked for me, and I've made so much money from it.
Have you ever gotten in contact with the rich side of your family?
If so, have you ever told them about your interest in real estate? Have they offered you any tips?
Odds are, your more enthusiastic about the family business than most of the kids in that family, which will hopefully get them interested in you.
Oh I understand that fully. I plan on staving college off for two years and get a federal job that pays between 40 and 60 thousand a year. I'm not a big spender, only vice Is cigarettes I get their expensive but I only drink water and eat cheaply. So I figure I could be a slumlord for a bit. Perhaps buy a 2.5k house that needs some work In the ghetto and rent It out for six hundred a month or so. Flipping Is the way to go? Really? What about costs on hiring a crew to fix up the house and still make a profit? I presume many people would learn how to spot and fix issues In a home but I'm no carpenter. I simply have a dream and the dedication.
My grandfather did that, he got PTSD and no money for his troubles. Keep In mind I have no issue being vicious, I have thirty some family members In California living the high life with strip malls, private jets, and a small Island In the Caribbean to prove wrong.
I have, but considering their way of life ( like typical elites ) they don't care for their "other" family. The advice I got when I contacted my second cousin who leads the new family business which is a pretty well known Is to " Follow your grandfathers footsteps, you guys have no place In the higher class ". Pretty much their assholes that powder their noses with cocaine and sue people that give them problems, keep In mind this Is the side of the family raised by a straight up neo-nazi businessman In disguise.
Your grandfather is a hero.
He's a part of the "great" when they say "the greatest generation" so be proud of him.
And you may not think of him as that right now but history always will.
You've been given a great opportunity to make something out of yourself. That entire other side of the family line will always have to attribute any of their success to their grandfather none of their achievements will ever really be their own due to the eternal shroud of privilege.
You now have the opportunity to strive for greatness to do the same for your future grandkids and be that guy that gave them everything great in their life.
>" Follow your grandfathers footsteps, you guys have no place In the higher class ".
HAH, you're joking right? I'm in a similar situation as the one that you're in (rich side of family, try to convince them to lend me money for business ventures), but they'd give me some douche line like that. You sure your cousin isn't autistic?
>The advice I got when I contacted my second cousin who leads the new family business which is a pretty well known Is to " Follow your grandfathers footsteps, you guys have no place In the higher class ". Pretty much their assholes that powder their noses with cocaine and sue people that give them problems, keep In mind this Is the side of the family raised by a straight up neo-nazi businessman In disguise.
Don't go into business then, go into politics instead. Join Bernie and take revenge by stripping your asshole part of the family of their assets.
Then you can summon your shit cousin to your office in Washington DC and say to him:
>remember that day when you said to me that I should not belong to the higher class? How do you feel about it now, cos?
A 2.5k house in the ghetto isn't a good investment. The hood is a bad investment in general. Anyway, there are probably a lot of back taxes and its likely the place is not in liveable condition. The bare minimum for a liveable place is about 10 to 15 grand. Anything below that likely warrants pretty significant renovations.
Keep saving until you can afford something that isn't a total shithole. Big money is in luxury developments but by the time you are ready to invest in that the market is going to look significantly different. In the interim just keep working towards getting your first place. I'd be shooting for a multiunit house with between 2 and 4 residencies or a modest house in a depreciated suburb. The multiunit place would mean having to deal with more and likely shittier tenants but you'll also have a more stable revenue stream.
Just for refrence, I don't have any properties but this is something I've been monitoring for a few years.
Anyway, don't feel bad about having old relatives who gave up money. Most families have something like that.
If they're really billionaires, then you will never come close to their financial success in the real estate business (unless you get lucky and buy a patch of land that happens to have an oil hotspot). They took advantage of a prime money making situation when the South was in absolute shambles and buying land was so easy that the government was literally handing out property left and right . Buying land in general is much more expensive and much more of a hassle today in 1st world countries.
Watch this vid from the 3:40 mark if you want an example.
If you really want to become a billionaire, you would have to take advantage of an opportunity that exists today. If I had any idea what that was, I would be on it right now. All I can do is give you a hint, it's not 1st world real estate.
How so? He was raised by antisemitic national socialist who's brother was disowned for following the law when the draft hit. My great grandfather literally told my grandfather to choose between family and Nazism and poverty and heroism.
I'm not joking, he's about thirty five and not at all autistic. I didn't even ask for money, I wanted to reconnect and perhaps learn some tricks of the trade. He's literally the kind of guy out of the movies that spits on the homeless that ask him for change. Same goes for pretty much all of them, they have near a billion dollars and run a real estate company worth several billion and never once donated to a charity. My Uncle, my cousins father didn't even attend my fathers funeral due to his decision to fight In WW2. Old money like this breeds these kinds of people, especially when It goes back before we reached America ( Dutch East India Trade Company ).
I viewed It like this for awhile, why throw a 200k loan from your father away to fight Nazi's? I still don't get why he didn't just not go, back In those days a rich man could find a way out. But he did, and he had a hard damn time of It. Sometimes I feel the battlefield didn't need him, he and his future family would have been better off with the bourgeoisie. But history Is history, I only came here to get some sage advice In real estate as the part of my family that knows the industry In and out refuse to even speak to me.
I'm not like that. I support Bernie, but I believe my views would be different If I were In a different set of shoes. To be honest I don't want to take from them, I want to build something even they can't poo-poo and eventually destroy their business ( Thirty or so years down the line of course ) by buying them out. I don't care If I overpay, I want them the scourge of the Earth to be defeated by an average born hard worker. I just need to know where to start.
I was thinking that too. The issue Is to purchase internationally you need alot of money. Since I was raised by a woman making 50k a year I don't have that cash now, and to be honest I don't think I can save that much In five years. But I figure properties In Asia would be the best bet, of course there are concerns with making It work as I haven't the slightest clue of Asian property laws. As for their success, It came big time during the early 1900's. Carpet bagging gave my family a lot of land to sell slowly over time when values went up.
My wife's uncle is a property flipper/manager. Renting a property also has maintenance costs built into it; if you get a house on a balloon mortgage, muck it out yourself, and sell it for a profit, you're cutting out a lot of management costs. Of course, going over budget, not having skilled staff, and not being able to sell your house on a slow market are all very real downsides.
Slumlording is basically the only skill "rich dad, poor dad" sort of teaches (it's a pretty terrible book otherwise); I've been a "property bodyguard" for a family slumlord before (I got paid $5/day to sleep in recently reclaimed properties to keep people from breaking in to get their shit back). It was also pretty lucrative, but I don't know many details relating to the operation of the business.
>I want to build something even they can't poo-poo and eventually destroy their business ( Thirty or so years down the line of course ) by buying them out. I don't care If I overpay, I want them the scourge of the Earth to be defeated by an average born hard worker.
Anon this is really dumb. You need to experience real life and get out of the poorfag mindset.
Well for one disowning a side of their family due to their Nazi-like beliefs. And exerting their monetary power to influence specific things I can't really get Into detail with as It may lead to a discovery I'd rather 4chan not make.
People who get doxed on 4chan always have it coming. Nobody knows anything about you so there's no reason for anyone to fuck with you. Idc anyway, I just don't like people misunderstanding the website. But if you just don't want to post personal stories that's entirely understandable. Its not pertinent to the thread anyway.
What career are you looking at which you referenced at the beginning of the thread-the government job?
All jokes aside, the best way you can get your revenge is by being successful yourself. It sounds like the old-money side of your family wants nothing to do with you. So be it. . .
You're not going to topple them any time soon. You're not going to buy them out. For fuck's sake that is never going to happen. Like the other guy said, you've got a poverty mindset. Shed it. And stop with the 'old family' bullshit! This may sound harsh, but damn, it should have no bearing on your perspective. They want nothing to do with you. So be it.
Take out any pretense of revenge, or lost glory out of the picture. That shit only happens in the movies. From now on, you have to work for yourself, *for the sake of your own financial security*.
Also buy ethereum
Postal service. At a bulk mail center. Pays well and has benefits at entry level. It's back breaking work but worth every penny.
And you've made a point. They manipulated property pricing and may or may not have donated to representatives to keep taxes way down.
I see that, perhaps I do have a poverty mindset. But that doesn't mean my name won't take me places. Specifically In college and some secret societies ( Pretty sure It Isn't polite to name said society, but It consists of the rich from all walks of life ). I have had some offers on joining a specific club that Is essential to making contacts from the government to international corporations. But I fear what I read about It online Isn't quite what It might be like Inside a proper lounge. I imagine a lot of ritual and ass kissing. Nonetheless I'm still curious what an opportunity like that would bring me, if if is even considered an opportunity.
Why not just go out and make the money yourself OP? If your smart, you can spot trends in markets and will know how to invest your money. Why go grovelling to your family to ask them to help you when the best revenge in itself would be self made entrepreneurship?
Oh I intend to, I by no means wanted to leech. I figured they'd have some sage advice that's all. I've been studying markets recently and will be placing an investment Into something that may pay out well long term.
Biz is not a very good place to get advice on real estate investment. Check out some online resources like Udemy, and Coursera. For college major in something that could be useful for real estate development, structural engineering, urban economics, finance, accounting. Any degree that can help you get a foot hold in the real estate industry either as a risk analyst, accountant, or an engineer. You need to make connections, and through these connections you can gather investors to pool money to start a project. You don't have much start up capital for any real estate venture so it is very unlikely that your net worth will ever be close to one billion dollars, but you can set yourself up in a way that benefits future generations for the prosperity that you desire. I personally do not have any experience in real estate so take my advice with a grain of salt; perform your own research, watch some videos, attend a class. Biz is a good place to find out news and add new perspectives to your ideas, but it is not a very good tool for learning. Good luck anon!
You're 18 years old, and your father was not only alive in the 1930s but old enough to engage in a cognitive argument with your grandfather?
I'll be generous and say 15 is old enough to engage in a conversation heated enough to lose $200k over.
Even if the conversation was in 1939 this would make your father ... 89 years old today (being generous possibly even 100 years old today) and 71 years old when you were born??
I'm calling some bullshit on this.
Dude i think you need to do somethig different,see im 18 also and im kinda poor but starting to study accounting (takes 6 years and half) and im planning to buy some things and take part in some companys,etc,also im studying the capital market of USA to know how to make money with it because it is a great way to make money,we can keep in touch if you want to see how bussisness is working,greetings