Any real /richfags/ here?

give me ur money and i will take good care of it

>>34035074
just sell everything and live a comfy life of no working in a small town in the middle of nowhere

>>34035090

Selling is not an option. 1 million can go fast, I'd much rather have a consistent cash flow

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1. lawyer up

Are properties owned free and clear or are they mortgaged?

Put the cash into very conservative bond investments. Vow never to touch it unless there is an emergency.

Live off income of 3 rental properties.

Give up 10% of rental income to management company.

>>34035074
sell all your property immediately & do porn. fuck the hottest most awe inspiringly attractive women you can (really get people talking) and then kill yourself. leave a legacy. hell make it the dvd/bluray of the century. TM this diedia.

>>34035134
>>34035074

Also, will you buy me some toothpaste on Amazon?

>>34035134
hard to forget youre gonna be providing the harassment.

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>>34035134

House is all paid for, 1k/month will cover property taxes.

Management companies seem so shitty, is it really worth it to pass off the responsibility? 10% seems like a lot for what they do

What are these bonds tell me more

>>34035113
>1 million can go fast
yeah if you are retarded.

Any person with an average intelligene can live their whole lives with that amount and not have to work a single day.

Just take a moment and do the calcs

Let me hold 10 dollars buddy.

>>34035163

>single person

Sorry, but I have 5 pets and I'm not the only human in this household. Also, I'd rather not live like a fucking hermit eating top ramen every day, I'd like to purchase nice things and go travel and do things that I've never had the finances to do.

1mil can go fast. 100k at least needs to go into the houses, 20k to lay the foundations alone. That's 1/10 of a million spent in less than 3 years.

Also, I'd be raped on taxes if I were to sell. I'd only walk away with 500k after selling if I'm lucky
Do you even money? My property will be worth millions in 10-20 years

>>34035134
Bonds? Fuck that. He should put it in an S&P 500 index fund.

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>>34035161

Management companies are shitty. And it may be wise to take care of the renovations/landscaping yourself. But at the end of the day, you're not going to want to be driving screws at 4 am or dealing with shitty tenants who complain about every fucking little thing.

Maybe I'm underestimating you, but I doubt you have the ability to swap out the heating element in a hot water heater on your own. Do shit you want to do and leave the maintenance to the pros.

you need to find a fee-based financial advisor - someone you pay a flat hourly fee (NOT percentage) for their time. they will likely recommend treasury funds or many some municipal bonds.

>>34035074
>have to wait for probate
Buckle up, pal, that shit takes year(s)

>>34035232

No. Not since he already has real estate. Anyway, Russell 2000 would be the index fund to get.

>>34035245
depends if it's contested or not. OP didn't mention if he/she has any siblings.

>>34035263
No, even non contested wills take a very long time. There's more than one will courts review, so it's a queue, a very slow queue. Think dmv

>>34035238

I can do carpentry work but nothing electrical or plumbing or plastering or anything else lol

I know electricians and renovations won't be a problem because I've done work in the industry here and know what companies are reputable and won't overbid.

I'd want to choose the tenants myself, I don't know how that would work with management. My girlfriends grandparents manage their own properties and are very particular with their tenants and know what people like and what they want. For example, he said if someone doesn't like ONE thing about the place, don't let them move in. It'll gnaw at them until it drives them nuts.

I don't know I'm very young only 23. I don't know about financial advisors and wouldn't even know where to start when talking to them. Part of me wants to partition the 250 into a vacation fund and a don't touch me fund but we can't do any of that until probate is through.

Shitty just literally waiting for papers to get passed around

>>34035074
Get advice from a reutable financial planner and not basement dwellers shitposting on a mongolian moose taming board.

>>34035311

Court date is in april, will be uncontested due to circumstances of the death
My girlfriends brother killed her dad. He's in jail, going to a mental institution for life most likely. Left us really fucked up, had to search the bloody room for a will that he didn't have.
Luckily the family is super helpful and got us a lawyer and everything should be squared away in about a year

We are waiting on a family allowance but I'm not too familiar with what that is exactly.

>>34035332

Maybe you fucking autismos have some radical ideas or advice for living on free money I thought that's what this board was all about

Living on free money and shit posting about your not-that-bad life

Get an accounting major gf aka me. I'll take care of your assets and liabilities.. and you :*

>>34035385
honestly, you'd be just as well off asking a bum on the street what to do with $1 mill as you would asking on here.

despite what they may troll, the members of this board are incapable of even the most basic human tasks.

>>34035481

Post tits and paypal and ill wire you some money

>>34035500

You're speaking to someone who is too autistic to speak to a proper financial advisor without at least knowing some sort of general direction to go in

People already suggested specific types of bonds I don't know why you're saying no one has real input.
I wanna bring something to the table have something to reach for

>>34035481
Are you familiar with tax laws of various European countries? Then I could consider it. Also what's your cup size?

>>34035620

You're an idiot I already asked for her tots you fuckin artist
Get your gyros out of my thread

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>>34035074
>Any real /richfags/ here?
Yes but it's a mix of my family(Dad was a dentist, Mom owns a family practice) and my wife(Cosmetic surgeon). I have done nothing for wealth. I have for for the sake of working but as I type I have been unemployed for a few years now so I can't really help you. I mean in a way I could be fuck if all that money vanished I have no good work skills and basically just leech off others but my personality seems to somehow makes up for that.
>tfw your friends started calling you "Eliotzarro" a couple years back.
I know you're here guys.

>>34035780

Do you and your wife share finances?
Or do you have a system worked out?

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How do you expect any of us to help you when half of us are too autistic to even step outside?

>>34035855
It's more like she shares. I haven't really made any income for awhile so she is basically providing for me. I had guilt at first about it, hence why I work for awhile but when we made a move that uprooted things bad on my work end I had to quit she made it pretty clear she didn't care if I stayed unemployed as long as I didn't go slob or worse with the free time. I have crawls in my skull telling me to try and make something of myself but they quickly quite out.

>>34035219
>My property will be worth millions in 10-20 years
you say that as if you'd actually get to enjoy that money instead of trying not to spend too much of it until you die

>>34035891

Well what the fuck would you guys do in this situation, all you retards are saying sell it but 1 million will depreciate so fast

I wasn't ready to do all this I'm only 23 I can barely even keep a job for more than a year

>>34035163
Young fag obviously forgetting inflation is a thibg. $1m now seems like a good amount but if you're in your 30-40S that shit has to stretch.

>>34035219
>100k at least needs to go into the houses,
what condition are the houses in that they need that much? Have they been being rented? When were they last in use?

>>34035891
that and underage/young as fuck, every poll done, every census here at all times and months has always show the following: The majority is "18" with "19" as the runner up. most don't even get votes for age"26" or higher. r9k is just a bunch of kids.

>>34035913

Ill sell once i can get more than 1.5 million after Uncle Sam takes his cut
And by then, unless the oceans rise 75+feet, I'll be 40 at the youngest so I'll have plenty of time to waste all that money

>>34035927
>20k to lay concrete foundations
>new hardwood floors through all properties, don't have the square footage on hand
> scrape the popcorn ceilings
> plants are expensive especially developed ones
> bad water damage in studio unit, needs a whole new kitchen and mold work as well
> 2 bdrm has a floor that's slanting, could be something major because of lack of foundations

Basically 100k is including a cushion for any crazy issues I might run into
The 2 bdrm and studio are not up to code so inspector fees and all that yadada, new walkways new cabinets new paint bathroom remodels it needs a ton of work

>>34036010
when last were they being lived in, the 3 rentals?

>asking /r9k/ how to manage your finances
>making random assumptions about the housing market
I'm sorry opie, you sound retarded, I saw the future, you already lost your money.

>>34035620
Sure do. You can fuck me while I'm doing your taxes. Hope you like cup A

>>34035074
Stocks give you the most on average, but a lot of dumb fucks don;t know when to pull out, and lose big.
Try to diversify portfolio a bit. For example, if beach town got hit by tsunami, you would be fucked. Ausfag, so I don't know if negative gearing works in America, but you can buy more property using equity and use that as a tax break. Don't change lifestyle at all until you get things running, and don't tell anyone or they will parasite you. Talk to financial advisor if you're completely new to this.

>>34035074
First you gotta take 100K to a tailor and have him make it into a cash lined suit for dat #swag. Then you buy a lambo and get a Henti wrap and head down to LA to Kim Kardashian's house kick Kanye in the face and take her as your main bitch. Boom she's rich. You're all set now. Pour yourself some Courvoisier.

>>34037250
Not op but will u marry me

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my grandparents gave me 400k for christmas so I guess I'm rich :^)

>>34035074
Can you give me 20k or something op? please rich op

>>34037365
In what currency? Rupiah? :^)

>>34035074

>Spend up to 180k in cash on renovating
>have 50k for personal use (dont spend it all straight away, it's supposed to last until the properties are renovated and leased out.)
>20k is to cover any unexpected expenses to the properties
>when everything is completely renovated and leased out you can just chill and live a comfy life

Trust me I'm an accountant

>>34037451

Zimbabwean dollar.

>>34035163 asuming op is 20yo and will get 80
1m/60=16,6k year
16,6k year is just litle over poverty level

And then he has to deal with inflation
in 60 years his 16k would be worth only 2k

>>34035385
go to >>>/biz/ they can help you beter than the weabos here

>>34035074
Add a bidet to that bathroom you filthy degenerate

>>34035161
They are fairly shitty but they do more than just your rental places, this means they can hire people to do Shit and buy stuff in bulk.
They can do everything you can faster and cheaper so in the end it's probably the best solution

richfag here
i have no clue, i hire advisors and stuff to do all the stuff

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>>34036671

beach town properties are always going to be in demand and the town ive been living in for 20 years has finally started to open up and be more relevant/tourist friendly. it's already a tourist town but finding dory blew it up. lady gaga and opera talking abbout how its the best place to live

fuck off back to bumfuck south dakota

>>34036565
living in the studio since feb, 2 bdrm tenants moved out this month and the 3 bdrm has been empty since dec but thats the one my gfs dad was murdered in

>>34037250
yeah id like to diversify but i have no idea how much investing monies ill have after renovations

>>34035163
nope dude you got expenses and also wanna make use of the money for fun shit

>>34035085
I spotted the jew guys