Showing you the path to wealth by live tweeting the ups and downs of real estate and stock investing. Monthly net worth updates. Follow the journey! 🏡📈+⏱️=💰
@sweatystartup
No money in the world can replace the love of a wife and your children.
I bet that firm’s partners are on multiple marriages and do not have great relationships with their children. That is not the best way to enjoy our one ride on this earth.
Recently exchanged job 1 for job 2:
Job 1:
$133K
Director level
Fully in person with 1+ nights weekly
9 direct reports
Stressful
Job 2:
$120K + 5% match + 5% pension
Senior Analyst level
4 days remote, 1 in person
0 direct reports
Not stressful
Good trade?
I was broke under Bush.
I was broke under Obama.
I started getting rich under Trump.
I became a millionaire under Biden.
I can assure you none of those presidents had anything to do with my wealth. My behavior is what dictated the changes.
We lost my dad today. Exactly 5 months from the day he fell at work and suffered a spinal cord injury. He fought for his life until the very last moment. My brother and I were holding his hands. The waiting room was packed with family. He was a loved man ❤️🩹
My uncles, who I provide business consulting to, asked me for a presentation on real estate 🏡 vs. stocks 📈 investing.
Here’s the summary of my presentation 👇
How “normal people” turn into “wealthy people” within one generation:
Year 1: 🏡
Year 3: 🏡🏠
Year 5: 🏡🏠🏡🏠🏡
Year 10: 🏡🏠🏡🏠🏡🏠🏡🏠🏡🏠
Year 30: 🏡🏡🏠🏡🏠🏠🏠🏡🏡🏡🏠🏠🏡🏡🏠🏡🏡🏠🏡🏡
My five homes 🏡 are currently worth $1,825,000.
Assuming 3% appreciation, in 30 years they’ll be paid off and worth $4,430,000.
Some people will read this and say: “what about the roofs you’ll have to replace?”
I just told you about $2.5M in appreciation. Roofs are $10K…
My four rentals generate $9,500 in gross rents today. Assuming 3% annual rent growth, this will be $23,000 monthly in 30 years. And the rentals will be paid off.
I built my own pension…
@realest49919420
It is tough, brother. You work hard to provide, and you work hard to be present. Somehow, neither effort ever seems to be enough.
It may not always seem like it, but you are the world to your family. Even if they never say it. You are. Sometimes knowing that is enough.
How “normal people” turn into “wealthy people” within one generation:
Year 1: 🏡
Year 3: 🏡🏠
Year 5: 🏡🏠🏡🏠🏡
Year 10: 🏡🏠🏡🏠🏡🏠🏡🏠🏡🏠
Year 30: 🏡🏡🏠🏡🏠🏠🏠🏡🏡🏡🏠🏠🏡🏡🏠🏡🏡🏠🏡🏡
Buy vs. Rent
Say you buy a house today with a 30 year mortgage. Here’s your mortgage payments by decade (+ taxes and insurance):
2023 = $2,000
2033 = $2,000
2043 = $2,000
2053 = $0
Now let’s say you rent today instead:
2023 = $2,000
2033 = $2,687
2043 = $3,612
2053 = $4,854
We cut cable
We quit take out
We stopped dry cleaning
We bought affordable cars
We cancelled subscriptions
Then we waited 2.5 years and had a little over $40K saved
Then we used every single penny to buy a home that had been foreclosed for 3 years
Today they say I “got lucky”
If my bank goes bankrupt does that mean my mortgages are voided and I now own the houses outright?
If depositors lose their money, the bank must also lose theirs, right? 😂
Me: I own $1.85M in real estate.
Haters: But how much do you owe on them?
Me: $1.35M
Haters: Brah, you don’t own nothing! Bank owns that s*t…
Me: Oh. What is your net worth?
Haters: -$100
Me: 🤷♂️
My dad had a fall at work today and the doctors are saying he may never walk again. Please say all the prayers so that God’s angels may intervene. I am in the ICU with him now. He is 68 and has so much life and energy left 🙏
If you inherited a rental today that is worth $300,000 and is completely paid off and gives you a profit of $2000 per month. Would you sell the home or would you keep the home?
It happened!
Four months ago I quit a job where I was making $135K
The job was slowly killing me (stress and anxiety) and taking away from family time
Today I finally accepted a job for $120K. With 4 days remote and a MUCH better work life balance.
Money isn’t everything! ❤️
Say a property is worth $350K when it’s all fixed up
Say it needs $50K in repairs
Say you buy it for $230K then repair it for the $50K
Now it’s worth $350K and you’re all in for $280K
Now cash out refinance at 80% LTV
You leave $70K in equity
Cash out your $280K
Free 🏡…
Me to my Dad: Hey dad, you moved us to 🇺🇸 when I was 12. You have now been working hard jobs for the past 25 years. Any regrets?
Dad: You have a beautiful family, an MBA, a good job, 5 homes, and still growing. That was my “American dream” for you
I am not “self made” y’all
📈If you buy $50K worth of index funds and the market goes up 10%, you made a cool $5K (10% return)
🏡If you put $50K down on an investment property worth $250K (20% down payment), and that property goes up 10%, you made a cool $25K (50% return)
My vision of financial independence is not a brand new car and a huge house.
I want a comfortable property where I can start a small homestead to enjoy time with and feed my family heathy, homegrown items. That is my “why:”
My wife sees my monthly net worth updates (pinned tweet) and she always says… “you brag about $800K net worth and simultaneously remind me that we are under water in the budget?”
Yes, dear. They’re directly correlated…
If I buy zero more assets starting today and die in 50 years, my two children will inherit 5 rental properties worth $8.4M that will generate $55K in monthly revenue 🏡
For $300,000 you can buy an asset that generates $2,600 monthly for infinity
And the $2,600 gets adjusted for inflation
And the underlying $300K appreciates in value
And you have lots of tax benefits
And you only need a fraction of the $300K to get in
Because… REAL ESTATE!
My rental properties are valued at $1.4M today. I bought them with 80% leverage and tenants are paying my mortgages (plus some extra).
In 30 years they’ll be paid off and worth $3.4M (assuming just 3% annual appreciation).
THAT is the power of real estate 🏡
When I turned 35 I had zero rental properties. This month I’m turning 38 with four rentals. I’m hoping to retire at 45 with at least fifteen doors. Ten years and a powerful shift thanks to 🏡
As you all know I gave notice at my job in December with a resignation date of June 30. My current job pays $135K. I just landed an interview for tomorrow for a less complicated job that is three or four days remote paying $150K. Send positive vibes!
Say a property is worth $350K when it’s all fixed up
Say it needs $50K in repairs
Say you buy it for $230K then repair it for the $50K
Now it’s worth $350K and you’re all in for $280K
Now cash out refinance at 80% LTV
You leave $70K in equity
Cash out your $280K
Free 🏡…
When I turned 30:
👫No kids
🏡No property
📉Negative net worth
This month I turn 39:
👨👩👦👦Two kids
🏡Five properties
📈$750K net worth (see pinned tweet)
Still another year ahead for continued improvement before turning 40
Lesson learned: It is never too late to start!!
I was applying for financial analyst gigs in the $130K pay range and was getting no calls.
Then I started applying for comptroller roles in the $170K-$200K and I’ve received four calls.
Guess I was fishing in the wrong pond…
I make $135K and resigned from my job so that I could spend more time with my family. I need to find a new role by July 1.
The current job offered $155K for me to stay. I politely rejected it.
Why?
The extra $20K bought me zero more time with my family.
Know your priorities.
Instead of taking employees out to dinner, give them a gift card to take their own families out instead. They don’t want extra time with work colleagues.
@markallanbovair
What scares me to the core is an unhinged person with absolutely zero checks and balances and a taste for mayhem.
I get what you’re saying about freedom, but it’s about time someone said enough is enough.
Best advice I wish I had when I was in my 20s:
1) Buy a house with 3.5% down
2) Invite your friends to move in and pay you rent
3) Live in this house for 12 months
4) Move out and rent out the entire house
5) Go back to step 1
Tax benefits is one of the less discussed pillars of real estate. We often mention it without further elaboration.
Here’s the transcript of a recent exchange between me and my CPA:
//Thread//🧵🧶 👇
I am resigning from a 6-figure municipal job to focus more time on my family.
My blue-collar parents do not understand. But, this is thanks to them.
After multiple generations of doing anything it takes to survive, I’m the first to be able to demand better.
We’ve “made it.”
📈Started working at 15 as a busboy
📈Became youngest GM in company history at 21
📉Was arrested by immigration at 21
📉Fought deportation for 3 years
📊Went to college at 25
📈Started finance career at 29
📈Became Finance Director at 31
🏡Bought real estate at 35
PSA: if you leased you car in 2019 or 2020, you can exercise the buyout clause on that lease at 80% of what that same vehicle is selling for today.
Your dealership is PRAYING that you don’t figure this out. Now you know.
My Profile:
👨👩👦👦Married dad of two
🇧🇷Brazilian born
🚔Once arrested for being undocumented
🇺🇸Now an American citizen
👨🏫First college grad in my family
👨🎓Now MBA
🏦Now Finance professional
🏡Real estate investor x4
💰Financial independence enthusiast
📈$600K net worth
Today I left the house at 8 AM and came back at 10:30 PM.
Today I saw my kids for 2 hours in the AM and saw my work colleagues for 13+ hrs.
This is why I am exiting this field.
My tenants had 10 maintenance issues within their first 30 days. I was embarrassed. Yesterday, they wrote me this:
“We are BEYOND THE MOON about having a landlord who cares so much about our home. Thank you for being so responsive!”
Mutual respect goes a long way, y’all.
A property purchased for $300,000 today that appreciates at just 3% annually will be worth $730,000 in 30 years.
That’s $430,000 in appreciation that you’re reluctant to get because you’re afraid of a $250 service call for a clogged toilet…
PS. Toilets don’t clog very often
I’m not a millionaire yet, but I own this much in real estate: 👇
$1,857,000
As long as they stay rented and mortgages are paid, it’s just a matter of time ⏳
I make $135K and resigned to pursue a hybrid position.
I have now turned down two $155K roles because of they are 100% on site.
You’ve got one life to live.
Please say a prayer for my dad everyone. Complications from his spinal cord injury is forcing him into emergency surgery and the doctors keep saying this is a very high risk procedure. Would love your positive thoughts ❤️🩹🙏
My dad had $6K hidden in a sock 🧦. We finally convinced him to invest it and make weekly contributions. This was October 2018. He had $6K saved then, now he has this 👇
My dad has a fourth grade education and delivers pizza for a living. In late 2018 he started contributing $250 weekly to an investment account.
Today he worked a 12 hour shift and made less than $200 at work. But his portfolio? Well, see for yourself
👇
My “soft retirement” will probably be quitting my busy 9-5 to go teach as an adjunct professor at a community college. Hoping they’ll pay for health insurance and I can have summers off to travel with the family.
What would a soft retirement look like for you?
You’re hanging out with your best friend and they suddenly get super serious and say:
I’m in a tough spot and really need to borrow $1,000. I’m not sure when I’ll pay you back, but I will.
What’s your response?
I gave notice at my job in December, giving a 7 month notice (common in K-12 administration).
My goal is to find a hybrid of WFH role in the private sector, at least breaking even ($135K).
I just scheduled my first interview for a fully remote role paying $150K-$170K
Let’s go!