Ask a 23 Year Old Guy Who Should Make 95-125K This Year Anythin

[wave_length]

I havent factored in realtor fees. It's also a reason I havent sold any properties because I don't want to pay those fees. It's not much but it is a factor.

As a note for nitpickers, the liquid cash reserve is high as I have to use it for construction ASAP. I wanted to throw a large amount of funds into S&P ETFs in dec/jan but I thought the market might continue to slide. I slightly regret it now but if I had lost the money I would have had to stall development of the houses.

Understood but do you account for taxes too? It‘s a big factor where I live should I e.g. ever sell one of my rentals. Just curious, you have obviously done great for yourself.

[Daftones]

Understood but do you account for taxes too? It‘s a big factor where I live should I e.g. ever sell one of my rentals. Just curious, you have obviously done great for yourself.

It's a tricky question. I have lived in each unit for a year, so in Canada you should be able to sell the units without triggering tax.

I pay tax on the rental income, but the properties have not appreciated much. So let's say I did have to pay capital gains, it would only be on the gains, which have regrettably been small

The housing development project I am working on I will pay heavy taxes on, and because I am nervous of the market I haven't included the future value of this project into my calculation. FWIW, I estimate 3-400k profit on this, before taxes.

[hammershot2]

Pleb. That's average salary for a CS grad. Be happy staying average, ****gut

[sandaltan]

hi guise is this the place where we make up all the stuff we own?

i own 50 houses, each worth 20 million, all paid off, and 100,000 gold bars (1 oz each). i also own 51% of apple stock.

do the math

im fking rich

[wave_length]

hi guise is this the place where we make up all the stuff we own?

i own 50 houses, each worth 20 million, all paid off, and 100,000 gold bars (1 oz each). i also own 51% of apple stock.

do the math

im fking rich

I‘m pretty sure the OP would not make up detailed stuff like in the above posts. Makes no sense.

[Jacobcapra]

House 1 : 675k value (paid off, in the process of being demolished and converted into 4 houses on the land)
Condo 1 : 250/450k value (meaning 200 left on mortgage)
Condo 2 : 250/320k value
Condo 3 : 415/1000k value
HISA / SAVINGS : 750 K
ETF / Stocks : 900K
Accounts rec : 50K (This is a chicken I am counting before it hatches I guess)
Vehicles : 70 K Flash sale price
Business #1 Value : 75 K Fire sale price for my share. 1/10th share
Business #2 Value : 300-500K (never thought of selling, so this is based off 1 year profitability, which is lower than the usual 3 year multiplier)
Buesiness #3 : 100 K liquid assets. development corp

Does this suffice?

That's not exactly what I meant, but if it's true than gjdm you're a lot richer than me and 900K in stocks is balling


But, most will not believe you just throwing out a bunch of assets with values assigned to them. Proof of some of these would be impressive.

hi guise is this the place where we make up all the stuff we own?

i own 50 houses, each worth 20 million, all paid off, and 100,000 gold bars (1 oz each). i also own 51% of apple stock.

do the math

im fking rich

See what I mean

[Daftones]

That's not exactly what I meant, but if it's true than gjdm you're a lot richer than me and 900K in stocks is balling


But, most will not believe you just throwing out a bunch of assets with values assigned to them. Proof of some of these would be impressive.



See what I mean

If I started posting screens then I wouldn't get that knee jerk angry reaction that most have been posting

[ANIMALISTIKZ]

Nice purposely avoiding my question OP

[Daftones]

I used to do sales in Vancouver, who do you sell planes for?

Sorry bro I did not notice it

I made my real money in 3 bricks and mortar restaurants, stocks, e-com (big one), and about half a mil from bitcoin (lol)

[anonkunbrah]

do you have to go all the way with your cash****?

[ssilv]

i have a question OP.

when you were making this thread, why did you actually think any of us would care?

[ANIMALISTIKZ]

Sorry bro I did not notice it

I made my real money in 3 bricks and mortar restaurants, stocks, e-com (big one), and about half a mil from bitcoin (lol)

I noticed e commerce is a lot bigger in BC than Ontario for some reason.

[BronsonStorm]

You made your account in 2007 when you were 11?

[Daftones]

i have a question OP.

when you were making this thread, why did you actually think any of us would care?

No I was expecting to get negged hard and I think I did. I mean 100k a year is **** but when I had no money I was pretty dick hard for that amount.

I noticed e commerce is a lot bigger in BC than Ontario for some reason.

Well, you can do it anywhere, hence it being mostly online. I have a fulfilment team in my city but they are mostly autonomous. I can spend less than a week at home every month and the rest travelling and as long as I have my laptop I will be OK. This is just for that business though, as the other projects I have taken on will get ****ed if I'm too busy skulling Chang beers in koh tao when **** hits the fan

[Daftones]

You made your account in 2007 when you were 11?

I am 28 now, OP was made in 2014. see update

Update :

Net worth touching $4,000,000 as of today (was around $0 in OP, as I had loan debt)

I exceeded my goals and then some.

/inb4 spoon pics OP

[Bauer273]

How many dinks have you sucked to get there?

[Discipline27]

Great action OP. At what point did you quit your day job? Do you work with a team? How do you deal with the loneliness?

[Brandon556211]

venmo me 500 dollars and see what happens

[engj]

I‘m pretty sure the OP would not make up detailed stuff like in the above posts. Makes no sense.

People LARP here all the time, dont kid yourself.

[smashedurgfx10]

4 mil at 28?
i do not believe you op. good for you though for having dreams

edit: you're in property ok makes sense, so you have 4mil in assets

so you're expecting me to believe you're not in debt for ANY of these properties? at 28? bs, unless you've been promoted to ceo of your little plane company or daddy gave you a helping hand to get started

im on track to make $150k this year at 25. like you, i am also in debt. once that is cleared it will still be a decade before i make even near what youre talking about

you cant simply generate 4mil from your salary, unless someone lends you BIG money to rent BIG properties. a bank won't do that without serious upfront cash, hence daddy. prove me wrong.

[wave_length]

People LARP here all the time, dont kid yourself.

What for though?

[exxtracool]

Makes brag thread

Posts no proof at all


Fuking ****goy opies these days I swear...

[Daftones]

Did you properly read my statement of net worth? You can see the debt on there. I’m counting only assets-liabilities, so your tangent is irrelevant

Your salary is great, that’s awesome for any age.

4 mil at 28?
i do not believe you op. good for you though for having dreams

edit: you're in property ok makes sense, so you have 4mil in assets

so you're expecting me to believe you're not in debt for ANY of these properties? at 28? bs, unless you've been promoted to ceo of your little plane company or daddy gave you a helping hand to get started

im on track to make $150k this year at 25. like you, i am also in debt. once that is cleared it will still be a decade before i make even near what youre talking about

you cant simply generate 4mil from your salary, unless someone lends you BIG money to rent BIG properties. a bank won't do that without serious upfront cash, hence daddy. prove me wrong.

[SompletelyCober]

Give more details on what you've done in e-commerce over the last 4 years pls

[TSBrah]

wheres the proof?

[Daftones]

What for though?

[Daftones]

If you pm me your Wickr or Snapchat I’ll prove these things

What for though?

[TSBrah]

If you pm me your Wickr or Snapchat I’ll prove these things

whats wrong with imgur?

id love an ama on why someone would lie about these things.

[wave_length]

If you pm me your Wickr or Snapchat I’ll prove these things

No need, I believe you anyway.

[Daftones]

whats wrong with imgur?

id love an ama on why someone would lie about these things.

lol