My dad has 4 houses all in worth $1.5 million which he rents outMy argument was the following >We're at the top of the valuation cycle, they won't increase in price anymore >Regarding AI, whether it works out (people are replaced) or not (AI bubble pops) there will be a disruption that will negative effect real estateHe agreed but he doesn't want to go through the effort of selling lmao
>>62267272he's just being nice. He knows you're retarded but doesn't want to say it to you or admit it to himself.I do the same thing with my retarded son when he gets uppity and tries to tell me what to do.if you want him to listen, go buy your own $1.5 million worth of real estate and show him you know what you're talking about.
>get hit with massive cap gains tax and then get HEEMED from a market downturnHes writing you out of the will OP
>>62267284>>62267303sneething
>>62267272>GET INTO FIAT DOLLARS IMMEDIATELY THAT'S THE REAL SAFE ASSETJob lost everything except his house, anon.
>>62267318>you should sell an asset because it may go down in value somewhat even though it's making you great passive income>because my friends on 4chan said soI assume any time OP says he either advised a relative or made a financial decision for a relative it's just bait. But I'll respond anyways. Nobody here is smart enough to be telling rich relatives what to do with their money.
>>62267272>He agreed but he doesn't want to go through the effort of selling lmaoHe didn't agree at all but it wasn't worth his time arguing with a retarded child so he gave you a lollipop and told you to go play in the traffic lol.
>>62267321Some of us here *are* the rich relative though, constantly getting retarded advice from retarded relatives who think I'm retarded for denigrating the investment potential of an $80k pickup truck.
>>62267272maybe he just likes RE. some people want passive investments, some people like being landlords.you also get leverage with a govt backstop, tax deductions, etc.
>>62267284Not an argument >>62267303This is the only actual argument, but eventually the tax man will come for you. The delta of selling now will make up the difference in the amount of money you'd lose when the value of the houses goes down in the above two scenarios I said.>>62267320Never said that.>>62267321Not an argument >>62267332Not an argument
>>62267340>Some of us here *are* the rich relative thoughor at least you pretend to bemost of the larps I've read here are from people that got lucky off either an inheritance or a one-time gamble on stocks or crypto.ignoring the fact that they're lying, LUCK does not qualify you to give financial advice. Gambling doesn't make you some financial genius. It just proves that even retards get lucky sometimes.
>>62267355Shut up. Rich people give better advice.
>>62267370>I'm rich guys, take my word for it!anyone that falls for this shit deserves what they get
>>62267355oh le no not le jealous seething
>>62267374This is the internet. If your first thought is someone is lying, why bother participating?Rich people give better advice and I know this for a fact.
>>62267375back in the day you used to have to prove you're rich here. And even then we just figure you're posting daddy's money.
>>62267379>the stories here are artistic works of fiction and nobody should take them seriouslythis isn't the internet, it's the clown show called 4chan. Somebody says they're rich on facebook, I can easily verify. Nothing you say can be verified.
>>62267384see >>62267375
>>62267400>no but I'm actually rich!>trust me!kekretard
you dont sell real estate, or you sell it for nicer real estateonce you have real estate you can diversify eventuallywhat kind of peasants dont own real estate? only retards rent
>>62267384Who cares?Youre poor so you think everyone else is poor.
>>62267374>I'm poor so everybody here must also be poorIt's just you though. But at least you're still mommy's special little boy, so you've got that going for you, which is nice.
>>62267502Lmao. When people say they are rich or whatever I just believe them. And I do a lot of online gaming after work at night and there’s tons of trash talk regarding $. You can always tell who is actually rich or not. The rich and poors react differently to the same insults.
>>62267318Loser.
The simplest thing to tell your retarded boomer relatives is to think about who the richest, bestest investor ever is:>oh you mean warren buffettand let them know he's stacking almost $500B in cash equivalents ready for the crash
>>62267469>>62267502here's $283k more money than either of you have posted.feel free to prove me wrong.
>>62267535They won't
>>62267535I can just post my house in a top 1% area. lol. What is that? I can’t see. I am not the one calling others poor. You didn’t need to prove yourself.
>>62267545>I can just post my house in a top 1% area. lol.do itshow me you own it
>>62267545>I am not the one calling others poor.>>62267469>Youre pooryou're entertaining at least
>>62267272Not buying your bags.
>>62267554You started it by thinking others are poor. I don’t think others are poor until they say others are poor which you didn’t If someone says they are well off, I think “Yeah.”
>>62267570> which you didn’t** which you did***
>>62267570>If someone says they are well off, I think “Yeah.”yes, because you want other people to accept your larp so you accept theirsbut back in the real world nobody actually believes either of you until you show some proof. And even then it's possible you're lying.
>>62267558h&s fails far more often to the upside, unfortunately
>>62267580Wishful thinking because your brain does not want to accept looming loss and it won't let you sell now either because you're already a tad down.Success rate is 80%.
>>62267575Not really, I know how people react. Negative reactions are always from people poorer than me. Positive or normal reactions are from people same or richer than me. Naturally like that. I guess it helps I live in a big city so I see wealth everywhere.I will tell you though: outside of big expensive cities or major cities in general, most people are poor, suburban, rural, blue collar or all of the above. This is what I learned from my nightly international competitive gaming. Like it is always so eye opening to realize how majority of people don’t live in a nice city and are rural/suburban and/or blue collar. Thing is, only 2.5% of Americans have 1m excluding a home BUT in a big city, this is mainly where that 2% is concentrated.
>>62267606having read your posts for a few weeks now and possibly for a few months I've come to the conclusion that you're probably 12.
>>62267272im in your dads shoes. i not selling. tax on appreciation is stupid. you are an annoying know it all if not being ironic
>>62267272Blackrock is buying all the houses pushing up prices forcing everyone to pay everything they earn just to rent.
>>62267609People generally think the person they are speaking with are similar to them when online. Even someone like me, who knows the wealth stats, naturally assumes it is someone similar to me on the other. And this applies to 4chan, which heavily skews towards rural, suburban and many mexicans and indians. I know there are many mexicans and indians here cause every once in a while, a thread exposes that.
>>62267609I haven’t even been here for a month.
>>62267631that's why I said Possibly.you picked up one bit of /biz/ headcannon that has been aggressively memed here for monthsand you've lied to me several times that I know of, so I don't actually believe anything you say
>>62267621Wall street investors have been net sellers for over a year now
>>62267621You mean Blackstone, right?
>>62267272maybe it did maybe it doesn't. a house is still a house and people will need to rent
>>62267647>people will need to rentNot if you ban immigration which is exactly what Trump is doing rn. US birth rate is less than 2.
>>62267634Muh lies. What is the current biz meta?
>>62267669The forced meme that you have been repeating is the >$X million liquid>house doesn't count memealso the related meme>only 2.5% of murricans are millionaires4chan is the only place in the world not counting a person's house as part of their net worth. Someone started forcing the meme here a few months ago and you seem to be repeating it without question.
>>62267678House does not count. Everyone is talking about this on social media.
>>62267716>Everyone is talking about this on social media.they're not, and that's how I know you've been here a while.but again, you lie. so nothing you say has any meaning anyways.
>>62267722Yeah they are, recent data shows 10% have 1m but it is 2.5% when you exclude a primary residence.
>>62267678>memeSTOP SAYING THATIt is not a meme.
>>62267736I didn't say the meme was wrongI said 4chan is the only place where people are saying it. And it only seems to be one anon saying it. And that anon is you. Which means you've probably been here for months
>>62267740people over the age of 12 know memes aren't just pictures you post
>>62267355you have no idea the amount of bullshit shit you have to learn to keep your money even if you get lucky
>>62267741> I said 4chan is the only place where people are saying it4chan is based and red pilled
>>62267744no, that's sorta my pointa person that gets lucky once can't do it againactual rich people don't usually get lucky because you can't count on luck to keep you rich or make you rich again if you lose it all.actual rich people usually have a system for making money that can be repeated, even if they lose everythingso when someone larps as a rich person that got lucky, odds are they're not
>>62267741I am almost never here except weekends cause of retards like you.
>sell your house quick! houses are about to fall 50%lmao
Now that everyone has huge bags of USD funny money, and 6 figure pokemon card collections, houses (yes, that's right, HOUSES) are going to plummet, so everyone will finally get a house of their ownLOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOL
>>62267754Houses are never dropping in value and even if they drop a little or during a recession, no one will be able to afford except the rich. People forget when there is actually a recession that also affects the high income high nw crowd, every one else suffers even more. They will be out of jobs and stuff.
>>62267751i see what you're saying, but the system you think they have is them actively taking risks on random shit and getting lucky multiple times. Mind you they lose a lot more then they win but when they win they hit it big. now when you actually get money keeping it is actually the hardest part. Which is what i mean you learn so much shit keeping it even if you got lucky once, which makes youre win rate chance of getting lucky again and again increase
>>62267762Yeah I agree with that. If you can keep money you can probably make more.One of the things I find amusing about this board is the idea that anons are going to make it and that's the end, they'll never lose it or spend it. In reality rich people often go broke again. It's pretty normal to lose everything a time or two.
>>62267775oh yah, thats one constant ive heard with people that made a lot of money. They have a high risk tolerance so they keep rolling the dice and win and lose fortunes most people that have low risk tolerances never even touch. i personally know a guy that had a liquid net worth of 10 mill lost it all just being a degenerate and is on his way to getting it hack again right now. Mind you he has eight kids through this whole period.
>>62267786yep there's that one factoid tossed around that the average millionaire has declared bankruptcy 2.5 timesI don't know if the number is true, but I do know rich people often have a few bankruptcies behind them.
>>62267754They're certainly not going to go up.
>>62267802once i read that shit and saw it in my personal life i started rolling the dice more on high risk play's and my net worth has increased a lot and my life has gotten a lot more exciting. i believe the stat
>>62267810they've been flat or going down for a while now I think. My house is down 20% since 2020 and has held flat for the last couple years.
>>62267814every house I have looked at is up like 50-80% since 2020, but I am in the midwest. 130k houses are 250k now
>>62267813for sure. After my first bankruptcy I learned you get to keep almost a million in assets so there's not a ton of risk involved. You can go broke and walk out of court a millionaire.
>>62267817True. Places that are below the average are going to keep going up I think. The rise might be slow, but they're catching up to the average.My town hit the national average in 2013 I think and then blew past it and in 2020 started to correct back down.
>>62267272>he agreed
>>62267814Probably because of area. Desirable areas drop less.
>>62267840There's a literal waiting list of people in california where you live wanting to move to my town.
>>62267847Still. The more desirable the less is drops. Kinda like a beta for stocks but houses instead.
>>62267861In my case there's either zero sales or the sales aren't public because the house sells before it's listedthis has been going on for years in my town. Houses don't even hit the market, they sell the instant the owner tells his friends he's thinking of selling. Suddenly he has 500 offers, none of them public.
>>62267866Okay. I live in a city where the property values are more than nyc per square inch or whatever. Way too hot.
>>62267871I own property in your town or near it.I have a slip in Santa Barbara. It's held flat for the last 6 years as well. Not that anyone is selling.
>>622672722022 was the top. Your dads property has been slowly bleeding value aince then...unless its austin, friaco, or jew york...then the real losses have been massive.
>>62267891the capital losses and depreciation just offset the taxes on all the income the properties are earning.Making money on an asset while it loses value is an ideal tax situation. That's one way to get rich. One of the main ones.
>>62267893Depreciation yes...capital losses that is heavy fucking copium
>>62267716>social mediaopinion discarded.
>>62267891He has two houses in Miami and two houses in McKinney, TX
>>62267272Boomers don't want to sell because "they know what they got." They want to fuck over younger generations one last time.Housing prices will collapse as the boomers die off and their estates are liquidated.
>>62267896depends on your accounting method, but that's way above /biz/ paygrade
4 houses all worth $1.5M is a horrible position to be in.Better to sell and have 1 worth $1.5M, richer renters mean less headache + only one.Better yet, just put it into stocks. Real estate is a horrible investment for a very long time now.Most real estate is implicitly short ai. Only some isn't, like palm beach or palm jumeirah.
>>62267968>Housing prices will collapse as the boomers die off and their estates are liquidated.probably true except millenials already almost outnumber surviving boomers. And that's ignoring all of Gen X who have a house and will probably buy more.
>>62267993No one is renting a 1.5M dollar home.
>>62268125plenty people are. it's just a different market.
>>62268125There are even people paying that per year in rent.
>>62267987Yeah...im not sure how the fuck you would mark a property to market. Do you use the zestimate (lmao)? Even so, the need for marking to market in the first place means you suck.
>>62268173>the need for marking to market in the first place means you suck.or you gross more than $1mm cash or $5mm accrual and the IRS requires itnot anything that anyone would know about aside from accountants and rich people thoalso yes, zestimate is fine. Appraisals are high and tax assessments are low. Zillow is unironically pretty accurate.
>>62268173but yeah, if you're in BK court you start with the zestimate and then show pictures of your leaky roof, cracked foundation, and sagging floorshopefully you got all those things so you clear the homestead exemption
>>62268173I personally grow black mold in my basement so nobody can ever foreclose on the property. It would cost more to fix it than it's worth.I happen to own a mold remediation business though. So not a big deal to me. I plan on remodeling the basement before I sell anyways.then there's the radon and lead. But that's a different set of problems
>top of the valuation cycleFor real estate? That was 5 years ago lmaoHe us right and shouldn't listen to you, i wouldbt advise to sell
>>62267272>there will be a disruption that will negative effect real estateWhat? Huh?
>>62267272aren't they starting to push longer mortgages now? if that happens it means there is room for the prices to go up
>>62268232Shit in the age of ai...its probably easier to just make good friends with an appraiser and just say shits way more fucked than it is. Just edit any photos.
>>62268232>I grow black mold in my basementLmfao, is this nigga srs?
>>62269111I grow black mold in my basement for free because I'm poor.
