Assets

>>1664589
they mostly look like 6 hanging file folders full of paper. If you want to see them I can take a pic later, but I promise you it's not impressive to look at.

they also look like a 3000 sq ft house on 3 city lots. Also a car and a truck. None of which are very impressive looking either.

I'll start, not really a richfag yet but when my uncle died 3 years ago he left me about 200k.

>family home 230k (60k left in the mortgage)
>condo I rent out (55k)
>bonds 40k
>stocks 25k
>"daytrade account" 15k
>savings ect. 20k

My mortgage rate is pretty low but the bonds and stocks haven't really paid off that much either, should I pay off the mortgage instead off investing?

>>1664606
Bonds are for paranoid people who literally kill themselves if their investment fluctuates 5% in a year. Convert that into index ETFs tracking the S&P 500 and forget about it for the next 10 years. Just don't panic if they go down.

If your mortgage rate is below 3% I would keep it and make minimum payments. Nothing wrong with that.

How is that Condo working out?

65% stocks and etfs
15% bonds and cash
10% private equity and real estate
5% home and improvements
5% personal property

Not much different than any intelligent person with a steady income and a smart long-term plan. It's just that my actual numbers are bigger than 99% of folks.

It looks like a small mountain of debt vs a larger mountain of cash flowing investments.

Eventually the cash flow will win

>>1664627
The Condo was part of the inheritance so I just had to extend the lease. works out pretty good so far, about 5.5k a year in income

define rich

Ok here it goes, this is all disregarding business assets:

Real estate:

>Retirement Home $5.2M
>Medical Center #1 $4.1M
>Medical Center #2 $2.7M
>Daycare $900k
>Parking Lot $65k
>House #1 $600k
>House #2 (rental) $230k
>Land (undeveloped) $110k

Other:
>Solar array $1.1M
>6 Classic Cars $3.5M
>Stocks $1.7M
>Cash and other about $300k

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>22 years old
>GED with no skills working in factory
>make $37K/year
>inherited $200K from Great-Grandma in 2013
>got it when I turned 21
>bought a truck, a boat, and a motorcycle
>spend $600/month renting out a bedroom in a nice suburban house
>$512.67 in Robinhood account for meme trading for fun
>~$119K in Vanguard ETFs
>~$4K in savings account

Want to buy Filipina wife but how do I confirm she's virgin?

>>1664707
If she's got a penis.

>>1664707
>wife

>>1664698
>>6 Classic Cars $3.5M
Mind posting the cars with some proof?

>>1664739
It's pretty late but I can certainly get you a pic of my security cams. 1/2

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>>1664786
1/2

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>>1664790
2/2

>>1664790
I can recognize a beetle and an isetta, and there are only 5, how do they add up to $3.5M?

>>1664816
Well, one is in the shop, the red one is stupidly valuable and the others are still quite pricey.

>>1664627
I was reading this thing about how in diversified portfolios managers are actually HAPPY when bonds go down, because it usually means that everything else in the portfolio (cause of bullish equity markets) is going up.

Or you know, you could have invested in bonds and something else that goes down the tubes with bonds, lol.

>>1664790
>>1664792
noice!

15k in investments
225-280k house

liabilities
200k left on mortgage

>>1664792
>>1664790
That 507, I see you like German Engineering, any new modern car that you find interest in?

>/biz/ turns to /o/

>>1664861
I like my Z8 which is pretty modern. New sports cars have too much plastic and fancy electronics for my taste, I tried the BMW i8 but it just wasn't for me.

$10000 checking act
$42000 Roth IRAs
$59000 457b
$40000 taxable investments
$18000 stuff
$1000 car

I should probably buy some real estate and a newer vehicle

>>1664891
Yea the Z8 is a acquired taste, no M cars? or Mercs? Gullwing would fit nice in your collection.

12k cash
4.5k cash
8k zero interest loan

i am shit at this

>>1664589
Not really rich fag but whatevs
>~10K high interest savings
>~30K shares
>~10K furniture etc.

I have been working full time for about 6 months since graduation so I'm doing pretty well I think.
Legit started from $0.00

Assets:
PS4
0.2K Cash

>>1664993
is that at least a pro?

>>1664698
Can you tell us more? Pretty suave cars you got.
... You own your own business?

>>1665370
he works security watching rich people's cars.

why do you think he's not allowed to go down and slap a timestamp on one of 'his' cars? "It's pretty late," surely the anon kids. If those were his cars it wouldn't matter what time it is.

>>1665373
kek once a google executive trolled the fuck out of someone that made a response just like yours in regards to his claim

>>1665407
http://www.theverge.com/2012/12/17/3777760/google-executive-proves-himself-with-bread
good read actually

>>1664589
23 years old, am i rich? idk.

apt. 50k 150k left mortgage
stocks 320k
car 10k
interior 20k

>>1665408
kek
could happen, but most likely it won't. for every rich person with a garage full of cars there's at least 10 people that have access to either the cars or the security cameras watching them.

I can post timestamped pics of billions of dollars worth of property, I'm not going to lie and say I own it though.

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>>1665370
Yep. Construction business.

Here is a pic of the 6th car, a BMW 503 which is currently in the restoration process.

>>1665373
I don't keep my cars at home I have a custom garage at that parking lot I own. I'm certainly not going out there at 1 am.

>>1665412
>I'm certainly not going out there at 1 am.
Fair enough, congratulations on your success. Those are some sweet fucking cars.

>>1665412
Nice job man. Question for you: What do you think of parking lots as an investment? How did you evaluate your purchase?

I have a client that owns a few lots by the sports stadiums downtown in my city and he's doing very well with them. It seems like a cash intensive business though.

>>1665445
The parking lot is mainly used by one of the the medical centers on a fixed lease, on top of that there are about 40 parking spaces I rent out to neighbors of the complex and friends. Disregarding the hassle of managing tenants I currently project that it will break even 12 years after construction.

>>1664644
then your math is way off.

either your income is way lower of the value is much higher than 55k.

real estate is valued according to profit potential. 10% ROI would be god-tier.

my last condo (bought a little over a year ago) makes 4% ROI before interest and taxes and I bought it under market value.

>>1665598
You should be looking for a 10% cap rate in real estate, otherwise you're getting ripped off, it seems that you got ripped off.

>>1665599
commercial real estate - sure
residential? no way, unless we're talking houses made of cardboard like in the US

>>1665602
I've picked up several multifamily residential deals 4 units or less, that have given me a cap rate of more then 10% or right at 10%, in the U.S of course if we're arguing about somewhere outside of the U.S then I can't tell you anything because I have no clue.

>>1664606
>should I pay off the mortgage instead off investing?

Yes, I was thinking of this while reading your post.

Rip the band aid off. You'll save money in interest.

>>1664792
>>1664790
>>1664698

Living the dream anon

what other expensive hobbies do you enjoy ? you look like you would be a Patek Philippe guy. Or is it Audemars Piguet ?

>>1664790
>>1664792
>>1664698
Can you paypal me $5? God bless

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>>1665799
Nah I've got one expensive watch that I've been wearing for 5 years and that was a gift.

Not doing much else really, I like skiing, I try to travel a lot, that's pretty much it.

>>1665815
Nope, sorry bud.

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>>1665852
Alright, well you have a n-nice day..h-heh..

200k real estate

250k business

150k "slice and dice" portfolio and cash.(includes REITS)

>>1665852
If you can basically do whatever you want, why fuck around on /biz/?

>>1665598
>real estate is valued according to profit potential

Actually, real estate can be valued using three different approaches: Sales comparison approach, cost approach, and income approach. Maybe you should about learn what you're doing before you try to do it.

>>1665852
>get up excited to see timestamp on anon's amazing cars
>it's nothing

but seriously, why does /biz/ believe this bullshhit without a timestamp?

>>1665598
This is the reality of real estate investing. In my market real cap rate is >6%.

>>1666249
i'm aware, i used to work for a court and had to read a ton of real estate evaluations. he's renting out a condo. the income approach is the only one relevant.

yes, a professional expert witness would look at each and work out some kind of median value. but they're approaching each other anyway, since the average market value is to a large part determined by what investors are willing to pay. and unlike future homeowners those only look at ROI in terms of future income if they're in the rental business.

>>1665760
I just feel like I can do better than the 2.3% mortgage rate