Thanks, that's kind of what I was thinking as well. I don't know what actually living on and spending that kind of money feels like, since my entire life has been working and saving, but it sounds adequate. $12k a month...one could probably spend half of that and have a great lifestyle in a major US city while investing the rest to ensure it continues
Ideal passive income to quit work forever
And he's under thirty and been working 15 years
In the US you can start working at 15 with a work permit. It was for shit money, like $6 an hour at a mall. Some highschools have an early release program that allows you to work instead of sit through boring school. This is what I did.
Had my girlfriend at the time do all my homework for me. Unfortunately, my natural game regressed in college due to feminist/Marxist brainwashing and I am currently recovering
- Lurks the forum for a year.
- Uses the data provided to completely transform their life.
- Rather than giving back with data of their own or adding to the community in any way, asks for more information, this time even more specific to their own situation.
Do I have that about right?
- Uses the data provided to completely transform their life.
- Rather than giving back with data of their own or adding to the community in any way, asks for more information, this time even more specific to their own situation.
Do I have that about right?
What data would you like? Literally everything you need is already on this forum. This is sounding uncomfortably close to the feminist-style guilt trips you guys talk about.
Here's a rough outline:
1. Sacrifice greatly to acquire seed money as quickly as possible. Forsake health, girls, friends, fun, everything. Cancel your cable. Work out at home...live like a monk. Pick whatever industry is booming in year X. You can do it with affiliate marketing although I wouldn't recommend it, you can do it with a tech job after a $10k coding boot camp, an oil and gas job if you are a tough bastard, flipping houses if you're handy....hell, deal drugs, I don't care.
2. Do not spend this money even on personal comforts. For a year I dried off after showering with yesterday's shirt because buying a towel would be less money I could test ads with. Deploy it in whatever real estate market at the time has the highest rent to price ratio while remaining in an acceptable metropolitan area, preferably close to you. Leverage your money by using conventional mortgages and hire a competent property manager for a 5-8% monthly fee so you have more time to keep pumping in money actively. You should easily be able to achieve 20-70% cash on cash returns depending on how risky you feel like being. Here are some markets to look at: Kansas City, Atlanta, indianapolis, Vegas, parts of Texas and Florida, Memphis or Detroit if you are really ballsy. You will not pay more than 50 times the estimated monthly rent for a property, and preferably less. This is known as the 2% rule (gross rent must be no less than 2% of purchase price). You can even buy shitty ones and fix them up, but all mine were ready to go. Expect to net about 1/3 to 1/4 of your gross rent on a leveraged property. I would suggest going with duplexes or more instead of single family houses. Over time, your mortgage remains static and your rents rise. Do not invest for appreciation of the value of the house...just buy and hold and use for cash flow. If you want to speculate, go to a casino. To get more than 4 mortgages you need 720+ credit so hope that's in good order.
3. Lather, rinse and repeat until you have enough to liberate yourself from the slave grind, take a few months off and reassess. In my case, I decided I wasn't ready yet income wise, so I went back to the workforce. Because I didn't desperately need a job to survive anymore, I was able to plan for months and score one that pays higher than any I would have gotten if I was in true need.
So, find a way to make a fuckload of money and the invest it in leveraged assets managed by someone else simultaneously.
Here's a rough outline:
1. Sacrifice greatly to acquire seed money as quickly as possible. Forsake health, girls, friends, fun, everything. Cancel your cable. Work out at home...live like a monk. Pick whatever industry is booming in year X. You can do it with affiliate marketing although I wouldn't recommend it, you can do it with a tech job after a $10k coding boot camp, an oil and gas job if you are a tough bastard, flipping houses if you're handy....hell, deal drugs, I don't care.
2. Do not spend this money even on personal comforts. For a year I dried off after showering with yesterday's shirt because buying a towel would be less money I could test ads with. Deploy it in whatever real estate market at the time has the highest rent to price ratio while remaining in an acceptable metropolitan area, preferably close to you. Leverage your money by using conventional mortgages and hire a competent property manager for a 5-8% monthly fee so you have more time to keep pumping in money actively. You should easily be able to achieve 20-70% cash on cash returns depending on how risky you feel like being. Here are some markets to look at: Kansas City, Atlanta, indianapolis, Vegas, parts of Texas and Florida, Memphis or Detroit if you are really ballsy. You will not pay more than 50 times the estimated monthly rent for a property, and preferably less. This is known as the 2% rule (gross rent must be no less than 2% of purchase price). You can even buy shitty ones and fix them up, but all mine were ready to go. Expect to net about 1/3 to 1/4 of your gross rent on a leveraged property. I would suggest going with duplexes or more instead of single family houses. Over time, your mortgage remains static and your rents rise. Do not invest for appreciation of the value of the house...just buy and hold and use for cash flow. If you want to speculate, go to a casino. To get more than 4 mortgages you need 720+ credit so hope that's in good order.
3. Lather, rinse and repeat until you have enough to liberate yourself from the slave grind, take a few months off and reassess. In my case, I decided I wasn't ready yet income wise, so I went back to the workforce. Because I didn't desperately need a job to survive anymore, I was able to plan for months and score one that pays higher than any I would have gotten if I was in true need.
So, find a way to make a fuckload of money and the invest it in leveraged assets managed by someone else simultaneously.
I would want 150k/ year passive income before i took a considerable amount of time off. With that money I would be able to live in the most desirable part of every city in the world except 2 or 3. With 175k/ year I could do every city (including NY, LA, London, etc) to the max. So, 175k for me. After 3 or 4 years though I would get bored and want to make more so I could enjoy a Hamptons/Beverly Hills lifestyle.
Post a screenshot of your bank account with all identifying info blacked out to prove your financial prowess if you care to have people believe you. I'm sure you understand that your story sounds a little far-fetched.
Post a screenshot of your bank account with all identifying info blacked out to prove your financial prowess if you care to have people believe you. I'm sure you understand that your story sounds a little far-fetched.
Founding Member of TEAM DOUBLE WRAPPED CONDOMS
@Killface
Like Switch says, go ahead and take a photo of the screen with your bank account up and go black out the personal stuff. You can even hold up a piece of paper next to it with "RVF" written on it. I know this can still be faked in photoshop, but it'll help. I'd actually like to believe you because you'd be a very valuable asset to the forum if everything you say is true.
Unfortunately that's a lot easier said than done. If you really did this, congratulations, but in your own words, you got lucky. And luck isn't exactly duplicable advice.
Why do you say you'd avoid affiliate marketing?
Like Switch says, go ahead and take a photo of the screen with your bank account up and go black out the personal stuff. You can even hold up a piece of paper next to it with "RVF" written on it. I know this can still be faked in photoshop, but it'll help. I'd actually like to believe you because you'd be a very valuable asset to the forum if everything you say is true.
Quote:Quote:
So, find a way to make a fuckload of money and the invest it in leveraged assets managed by someone else simultaneously.
Unfortunately that's a lot easier said than done. If you really did this, congratulations, but in your own words, you got lucky. And luck isn't exactly duplicable advice.
Why do you say you'd avoid affiliate marketing?
+1 on posting proof.
You can blank out any names etc on the financial and pay statements, and submit them via PM or email to Roosh himself. He will then vouch for you if you are legit, and then we will accept it too.
You can blank out any names etc on the financial and pay statements, and submit them via PM or email to Roosh himself. He will then vouch for you if you are legit, and then we will accept it too.
![[Image: thumb_thisthreadisworthlesswithoutp.gif]](https://rooshvforum.network/images/smilies/new/thumb_thisthreadisworthlesswithoutp.gif)
@killface Drop more data threads dude!
If you gave me a passive income of $5000 per month, I'd still have $4000 left over by the end of the month. It's just hard to imagine what I could possibly spend that much money on.
Was this Beta?
Was this Beta?
"Imagine" by HCE | Hitler reacts to Battle of Montreal | An alternative use for squid that has never crossed your mind before
Interesting thread, I'm going to believe the OP if his stories true he has an insane work ethic and is living proof that working hard at something no matter your circumstances you can achieve whatever you want. You say you make $5k a month now? If I was you I would start living location independent now. Go live in asia for a while or somewhere cheap, enjoy life and still slowly increase your earnings. Once you get the travel bug you will realise that you dont need to be rich to be happy.
OP did anyone help you or was there a moment where you were like fuck this Im going to do everything I can to become successful? You listen to Tony Robbins? Eric Thomas?
Also can you talk more about what products exactly you were affliate marketing for? I mean, the only reason you would want to hide that is if you were doing something slightly illegal.
OP did anyone help you or was there a moment where you were like fuck this Im going to do everything I can to become successful? You listen to Tony Robbins? Eric Thomas?
Also can you talk more about what products exactly you were affliate marketing for? I mean, the only reason you would want to hide that is if you were doing something slightly illegal.
oops he done disappeared?
Hey guys, did not disappear, had to sleep. Starting my shift now so I will figure something out for the proof etc later today. I do trust Roosh more than the rest of you lol, so that may work.
Also, these 150-175k figures allow for saving some of it to keep the cycle going, don't they? It would suck spending all of that for 20-30 years and then having inflation bite you.
Also, these 150-175k figures allow for saving some of it to keep the cycle going, don't they? It would suck spending all of that for 20-30 years and then having inflation bite you.
Quote: (12-22-2014 11:19 PM)Killface Wrote:
Neo, your post cracked me up, but I don't know how I would prove my income without a serious breach of privacy. I knew this would stir some controversy, which is really why I don't post in forums in the first place, but I would like the focus to be more on the question I asked. I just figured I would provide some background, because everything is relative to an individual's experience.
Hey man it's easy just read how in the other posts above.
Look, we get every type of poster claiming all sorts of stuff on here all the time. Your story is as probable as 2 playboy bunny's knocking on my door right now and asking me to have a threesome.
It's not about controversy. I'm a big proponent on not putting limits on what you can accomplish. If you really did what you claim I'd be the first to give you props. You functioned to nearly 100% of human capacity with modafinil/adderal like focus for months.
We're asking for proof, no personal identifiable information required. There was a guy on here who started a business making websites and would post deposit receipts for 10k+. Without something like that, everything you post will be ignored.
Pics would also be largely meaningless. It wouldn't be too hard for me to take a shot of my bank account and photoshop on a leading 75 to some of the totals etc...
And having worked in the industry for the better part of a decade, specifically in one of those service roles you mentioned, I'm also calling BS on 200k starting. Especially in the US, having worked there, Canada, and internationally, because salaries are generally lower all around in the US. The reason being all of these jobs take months to get up to speed on before you can do the job yourself, and even then, you're still not worth that much. 200k is easily achievable if you put in your years, but no one is going to let you DD, run fracs, or supervise drilling off the bat with no experience because you 'nailed the interview'.
I too think your situation sounds a little too perfect, with too few details, followed up by too basic a question that has already been discussed at length on this forum.
But to the original point, I've always liked dividend stocks. Maybe not as high returns, but the ultimate hands off investment, and at least in Canada, you can make up to like 50k on them essentially tax free (provided you made less than 10k of employment income). I could live forever off 30-50k after tax and be fine. I chuckle at some of the others saying they'd 'need' 500k or 150k or 175k/yr just to have a decent life. I'm with HCE, at that point I'm Brewster's millions, having to actively work at spending it.
And having worked in the industry for the better part of a decade, specifically in one of those service roles you mentioned, I'm also calling BS on 200k starting. Especially in the US, having worked there, Canada, and internationally, because salaries are generally lower all around in the US. The reason being all of these jobs take months to get up to speed on before you can do the job yourself, and even then, you're still not worth that much. 200k is easily achievable if you put in your years, but no one is going to let you DD, run fracs, or supervise drilling off the bat with no experience because you 'nailed the interview'.
I too think your situation sounds a little too perfect, with too few details, followed up by too basic a question that has already been discussed at length on this forum.
But to the original point, I've always liked dividend stocks. Maybe not as high returns, but the ultimate hands off investment, and at least in Canada, you can make up to like 50k on them essentially tax free (provided you made less than 10k of employment income). I could live forever off 30-50k after tax and be fine. I chuckle at some of the others saying they'd 'need' 500k or 150k or 175k/yr just to have a decent life. I'm with HCE, at that point I'm Brewster's millions, having to actively work at spending it.
obvious troll is obvious ![[Image: troll.gif]](https://rooshvforum.network/images/smilies/new/troll.gif)
![[Image: 4e7ed94bd9194_225455n.jpg]](http://s.ecrater.com/stores/225455/4e7ed94bd9194_225455n.jpg)
Littledark vs Killface
The Ultimate Trolldown!
Quote: (12-23-2014 07:46 AM)Neo Wrote:
Quote: (12-22-2014 11:19 PM)Killface Wrote:
Neo, your post cracked me up, but I don't know how I would prove my income without a serious breach of privacy. I knew this would stir some controversy, which is really why I don't post in forums in the first place, but I would like the focus to be more on the question I asked. I just figured I would provide some background, because everything is relative to an individual's experience.
Hey man it's easy just read how in the other posts above.
Look, we get every type of poster claiming all sorts of stuff on here all the time. Your story is as probable as 2 playboy bunny's knocking on my door right now and asking me to have a threesome.
It's not about controversy. I'm a big proponent on not putting limits on what you can accomplish. If you really did what you claim I'd be the first to give you props. You functioned to nearly 100% of human capacity with modafinil/adderal like focus for months.
We're asking for proof, no personal identifiable information required. There was a guy on here who started a business making websites and would post deposit receipts for 10k+. Without something like that, everything you post will be ignored.
That's cool, I sent Roosh an email with some stuff and can probably do more later, but I have to finish this shift first.
Hopefully once I reach the ideal passive income I can work on the playboy bunny thing
Quote: (12-23-2014 07:59 AM)Seadog Wrote:
Pics would also be largely meaningless. It wouldn't be too hard for me to take a shot of my bank account and photoshop on a leading 75 to some of the totals etc...
And having worked in the industry for the better part of a decade, specifically in one of those service roles you mentioned, I'm also calling BS on 200k starting. Especially in the US, having worked there, Canada, and internationally, because salaries are generally lower all around in the US. The reason being all of these jobs take months to get up to speed on before you can do the job yourself, and even then, you're still not worth that much. 200k is easily achievable if you put in your years, but no one is going to let you DD, run fracs, or supervise drilling off the bat with no experience because you 'nailed the interview'.
I too think your situation sounds a little too perfect, with too few details, followed up by too basic a question that has already been discussed at length on this forum.
But to the original point, I've always liked dividend stocks. Maybe not as high returns, but the ultimate hands off investment, and at least in Canada, you can make up to like 50k on them essentially tax free (provided you made less than 10k of employment income). I could live forever off 30-50k after tax and be fine. I chuckle at some of the others saying they'd 'need' 500k or 150k or 175k/yr just to have a decent life. I'm with HCE, at that point I'm Brewster's millions, having to actively work at spending it.
You are correct in that the full 200k doesn't take effect for about 6 months. Even at the lower starting rates it's well over six figures per year. I am just banking that I will last 6 months, which I do not think will be an issue.
Dividend stocks are cool. They're totally passive unlike real estate, which is just 95% passive. Would you invest in individual dividend stocks and if so, which ones do you like? Or would you just do the good old Vanguard dividend index?
Do you really think you could live happily off that much though? I'm at that level now but it was somewhat frustrating being limited to a middle class lifestyle. Especially at a youngish age, I just felt like I had more in the tank. And keep in mind I'm not a spendthrift...I live in an RV for christ's sake...but that much money was just not enough to do whatever whenever.
Quote: (12-23-2014 09:51 AM)Onto Wrote:
Quote: (12-23-2014 09:34 AM)Killface Wrote:
Dividend stocks are cool. They're totally passive unlike real estate, which is just 95% passive.
You're in for a rude awakening. Especially if you really have 30 units.
Possibly, but I have a property manager who I give wide discretion to. They have treated me well and I trust them so far. I also have a network of friends and various real estate people back home to take care of anything they couldn't take care of themselves, though I don't know what that would be. I usually answer an email once every 2-3 days, or if shit is hitting the fan I will spend 2-3 hours taking care of it...this happens maybe once a month. As the portfolio grows and the total revenue increases, I will give my manager even more discretion since my living expenses are fixed.
Quote: (12-23-2014 09:58 AM)Killface Wrote:
Quote: (12-23-2014 09:51 AM)Onto Wrote:
Quote: (12-23-2014 09:34 AM)Killface Wrote:
Dividend stocks are cool. They're totally passive unlike real estate, which is just 95% passive.
You're in for a rude awakening. Especially if you really have 30 units.
Possibly, but I have a property manager who I give wide discretion to. They have treated me well and I trust them so far. I also have a network of friends and various real estate people back home to take care of anything they couldn't take care of themselves, though I don't know what that would be. I usually answer an email once every 2-3 days, or if shit is hitting the fan I will spend 2-3 hours taking care of it...this happens maybe once a month. As the portfolio grows and the total revenue increases, I will give my manager even more discretion since my living expenses are fixed.
Having a property manager that takes care of everything is very expensive and you have to really check up on them to make sure they are doing quality work, and not skimming from you.
How are you paying them? Do they get a percentage of the rent and are supposed to foot the bill for all maintenance in return?
Is it just one big property with 30 units?
Who picks your tenants?
How long have you been in the rental business?
Quote: (12-23-2014 10:03 AM)Onto Wrote:
Quote: (12-23-2014 09:58 AM)Killface Wrote:
Quote: (12-23-2014 09:51 AM)Onto Wrote:
Quote: (12-23-2014 09:34 AM)Killface Wrote:
Dividend stocks are cool. They're totally passive unlike real estate, which is just 95% passive.
You're in for a rude awakening. Especially if you really have 30 units.
Possibly, but I have a property manager who I give wide discretion to. They have treated me well and I trust them so far. I also have a network of friends and various real estate people back home to take care of anything they couldn't take care of themselves, though I don't know what that would be. I usually answer an email once every 2-3 days, or if shit is hitting the fan I will spend 2-3 hours taking care of it...this happens maybe once a month. As the portfolio grows and the total revenue increases, I will give my manager even more discretion since my living expenses are fixed.
Having a property manager that takes care of everything is very expensive and you have to really check up on them to make sure they are doing quality work, and not skimming from you.
How are you paying them? Do they get a percentage of the rent and are supposed to foot the bill for all maintenance in return?
Is it just one big property with 30 units?
Who picks your tenants?
How long have you been in the rental business?
Yes, it's hard to find a good property manager. I tested these guys out for a couple years to see how they perform. It's not that expensive...8% of the rent collected each month. This can scale down to 5% if you have a big enough portfolio and can throw your weight around. I foot the bill for all maintenance, but they are nice enough to take care of simple crap for free. Changing locks, etc. It is a mix of duplexes and SFRs. My tenants are screened by the manager and their applications are sent to me for final approval (credit check and public records search as well as income verification and initial deposit). I have acquired all this property this year, but I did have a small one for several years beforehand that I self managed to learn the ropes.
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