Home › Forums › MGTOW Central › Solitude is Addictive /Rant
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Maverick 1 year, 8 months ago.
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And even if I did have what I need to live on now, there are a LOT of unexpected costs involved with owning rentals. If you’re not able to afford them, you’ll lose your tenants and shortly afterwards, the house itself. The f~~~ing bank owns your house, not you. And even after you’ve paid the house off 100%, the f~~~ing government owns it. You’re basically an administrator, pushing money around and hoping to make more than it costs you per month to “own” it.
Tell me about it! Very good points.
When we die one day, anything and everything we “owned” is no longer “ours”. It is just an illusion. When you think about it, it is funny to think that “I” “own” this piece of land….even if it is paid off. No, the strip of land does not universally belong to me, I am only “owning” it for as long as I live. The universe will reclaim it. As you mention, there are many costs associated with rental properties, even after you pay them off. First, the bank owns your ass and after that it is the government’s turn to own your ass. We get passed around like a joint in a Led Zeppelin concert. Here in Australia; land tax, strata fee, council rates, water line connection fees, maintenance, agent fees etc. Not to forget, the strip of land I “own” is associated with the law of the land. Big daddy government, who can at any time, swoop in and seize it, especially in a divorce case.
One million years from now, that piece of land that I once “owned” is in the hands of a complete stranger. A stranger who is not a part of my own bloodline. This is reality, yet people so desperately cling onto their possessions.
In other words, there is a bit of luck involved and you also have to be at the right place and the right time AND make the right decisions.
Spot on!
A bit of everything. Experience+timing+luck+choices.
A tranquil mind is neither happy nor sad, it is uninfluenced by external conditions.
WTF? Assuming someone has say 3 million in the bank–they could pay themselves 75K a year for 40 years. I’ve lived on as little as 15K a year comfortably. I think someone needs to dial back on the expenses if 75K a year is not enough to live on.
Sorry I couldn’t fit this reply into my last post, but I just had to respond to it. You do realize that the FDIC only insures depositors up to $250,000, right? And even that is a f~~~ing joke. If the entire financial system crashed tomorrow, you’d get pennies on the dollar as the FDIC isn’t solvent. No one with actual money keeps their money in the bank.
People with money don’t just let their money sit there doing nothing. They make it work for them. Even if my money were safe in the bank, I’d never let it sit there long term. I have more in credit card lines and lines of credit than I do in cash. A wealthy person uses credit to their advantage. Hence why you hear of all these wealthy people and companies that are in debt.
Wealthy people have their wealth in income producing assets. Cash does nothing but lose value over time, whereas assets maintain their value or in some cases increase in value faster than the rate of inflation. I’d be a f~~~ing fool to keep millions of dollars in cash in the bank and take out $75k/year. In 20 years, $75k is going to buy what $25k does today. In 40 it will probably be worth about $5k. So right when everything is going to s~~~ health-wise for me, I’ll be broke as f~~~ and living on the street. That’s how wealthy people p~~~ it all away. Even if they’re “smart” by spending a consistent amount of money each year, they still end up losing because cash is the enemy.
One thing you realize when you become wealthy is that cash is NOT wealth. Cash is a TOOL used to ACQUIRE wealth – a tool that becomes less and less effective over time. You want wealth, NOT cash.
For wealthy people, cash is a tool used to acquire wealth. It’s also a tool to control the peasants and keep them subjugated. Money helps keep all the wealth concentrated in the hands of those that understand this concept. It helps you keep all the wealth, while everyone else sees the tool itself as wealth and strives to acquire the tool, you strive to acquire the wealth and USE the tool, and then discard it.
The saying “money is the root of all evil” is not accurate. It would be more accurate to say that “money is the main tool used by the evil to control others.”
I personally don’t aspire to be one of these evil people. I just want enough wealth so I don’t have to worry about having to work in order to sustain my existence anymore.
To much of the wrong focus here, who gives a f~~~ who has what. The important is what you have and the ability to not have to interact with society.
mgtow is its own worst enemy- https://www.campusreform.org/
To much of the wrong focus here, who gives a f~~~ who has what. The important is what you have and the ability to not have to interact with society.
EXACTLY! I’m not trying to become super rich. I just want to be FREE! Freedom is not having to worry about where your next meal is coming from. Once I have my little empire set up, I’m checking out from this f~~~ed society for good. I never want to HAVE to work again. I’ve been working my ass off since I was 7 years old and I’m SICK OF IT! I’m sick of this corrupt ass, evil society. I’m sick of the stupid people and all the BULLS~~~! How people work from 18 to 65 at a 9 to 5 job is beyond me. I’d just put a f~~~ing bullet in my brain and be done with it.
Anonymous38If I had no mortgage and 2-3 rentals, there’s no way I wouldn’t be set for life. That’s a far higher net income than most people earn.
If you own your properties outright the bank doesn’t own s~~~. The only person you must keep sweet is the tax man.
You’ve obviously got the mindset of a wealthy person, and I respect that. Wealth is addictive I guess.
If I had no mortgage and 2-3 rentals, there’s no way I wouldn’t be set for life. That’s a far higher net income than most people earn.
If you own your properties outright the bank doesn’t own s~~~. The only person you must keep sweet is the tax man.
You’ve obviously got the mindset of a wealthy person, and I respect that. Wealth is addictive I guess.
I couldn’t care less about having wealth just for the sake of having wealth. I just want my freedom. And yes, having 3 rentals, mortgage free, would earn me about $5,250. After property management, let’s just say $5,000. After taxes, about $3,000. That’s enough to live very frugally in a one bedroom apartment and never go anywhere or do anything. But for how long? 3 years? 5 years? How long until that $3,000 only buys about $2,000 worth of goods and services? Then you’re screwed because you don’t have any other way of increasing that income. You have to start over again at square 1.
One of my grandfather’s died penniless, renting a room in the ghetto. He earned enough wealth to get $1,000 a month, which was quite a lot of money back then. But he was screwed as he got older. And inflation was going up much more slowly back in his time. Back when he got the $1,000, it bought him a lifestyle that $10,000 buys today. If I want to be safe for the next 60 years, I likely need around $100,000/month. It sounds f~~~ing ridiculous, but I thought that $10,000/month was a ridiculous amount of money just 10 years ago. Now, it barely affords you a middle class lifestyle unless you live in the middle of nowhere.
I wouldn’t be surprised if my $100,000/month is an underestimation. But that’s what I’m shooting for. If I get 30 rentals renting out at $3,000/month (which isn’t an unreasonable expectation in 30 years when the mortgages are paid off), that’s $90,000/month. Right now my average rental rents for between $1,750 and $2,000/month.
Right now, this is my current budget:
Monthly Income (from business and rentals): $85,000
EXPENSES:
Mortgages (including my own personal home): $11,700
Property Taxes (my home included): $3,700
Car Payment: $600
Home Insurance (my home included): $1,500
Debt Servicing (ALL unsecured debt): $5,000
Legal expenses: $3,000
Business Expenses: $35,000
Misc. Expenses (these are normal little expenses that everyone has): $2,500
Rental Expenses: $4,000
Misc. Insurance: $2,000This leaves me with about $16,000 left. After taxes, about $10,000.
But that’s just cash. I also get about a $4,000/month gain in my net worth thanks to my tenants paying down my mortgages. So assuming I don’t buy more rentals, I’ll get the $3,200/month in cashflow from my rentals PLUS a $4,000/month increase in my net worth as they pay down my mortgages.
I’m building wealth, not cash. What cash I save is further invested to build my wealth. I’m pretty cash poor actually, which is why I have large lines of credit and a lot of credit cards. If I can get a 14% ROI from buying a rental with $75,000 in cash and I have a personal loan or line of credit I can use with an interest rate of, say, 6%, I would be a fool to use cash when an unexpected expense comes up.
The way I live my life is totally different from your average wage slave. I’m constantly shuffling money around and trying to acquire as many assets as I can possibly get. I have a personal banker that handles a lot of my financial business. Let me put it to you this way. EVERYONE knows my name at my bank, and all the female tellers flirt with me. It’s an annoyance that I put up with because I must. Going to the bank is NOT a pleasant experience.
Anonymous38$3000 = ~ £2220. I can assure you that it is possible to live very well, not frugally, anywhere in the UK on £2220 per month when you don’t have a mortgage or rent to pay (not to mention no risk of being thrown out of your home or having it seized by the bank).
$3000 = ~ £2220. I can assure you that it is possible to live very well, not frugally, anywhere in the UK on £2220 per month when you don’t have a mortgage or rent to pay (not to mention no risk of being thrown out of your home or having it seized by the bank).
Again, right this minute, I agree. But 5 or 10 years down the road you’re f~~~ed because your income won’t keep up with the rate of inflation. And honestly, I wouldn’t consider $3,000 a month living “very well” even right now. Unless your only source of entertainment is movies and video games and you don’t go anywhere or do anything, and even then. I suppose you could pinch pennies and make all your own food from scratch, never eat out, only buy a new TV every 10 years or so (assuming it lasts that long – my guess is modern TV’s will be lucky to get 3 years out of them).
Living is VERY expensive. I just got a quote for 3 blinds in my living room. 3 f~~~ing blinds and the quote was $3,000. I suppose I could just go to Walmart and rig a couple of $20 shades together, but I don’t want to live like a hillbilly. Just standard maintenance on a house gets pretty expensive. I need a new driveway as mine has literally cracked in half. $15,000. I mean, WTF…seriously…? How am I supposed to afford even basic s~~~ like this making $3,000/month?
My deck is literally falling off. Another $15,000. I suppose I could use s~~~ wood, but then it requires constant maintenance and looks like s~~~. And it’s still like $9,000. I suppose I could finance it, but no bank is going to give loans like this to someone making $36k a year.
And this is how it is NOW. Imagine what it’s going to be like 5, 10, or 20 years from now when my income hasn’t kept up with the rate of inflation. $3,000/month is enough for someone to rent a s~~~ ass apartment in the ghetto and spend all day in front of the TV/computer eating Cheetos with his buds. You can forget saving up an emergency fund to be able to handle unexpected expenses with your rentals. You can forget about ever changing your situation and increasing your income. Your only recourse is to work and start over from square 1.
But 5 or 10 years down the road
We can do our very best to minimize any future downfalls, but at the end of the day anything can happen.
1.) A very high bachelor tax is put in place
2.) World War III
3.) Single wealthy men are forced to look after orphans
4.) Global economic collapse (much worse than the GFC)The future is scary, but at the same time I chose to focus on the present moment and make the most of it, otherwise I will spend my whole life worrying. There is no end to how “well” we can prepare ourselves. After a certain point, preparation becomes fear driven. It no longer is sustainable. It becomes counter productive, to our mental health.
A tranquil mind is neither happy nor sad, it is uninfluenced by external conditions.
But 5 or 10 years down the road
We can do our very best to minimize any future downfalls, but at the end of the day anything can happen.
1.) A very high bachelor tax is put in place
2.) World War III
3.) Single wealthy men are forced to look after orphans
4.) Global economic collapse (much worse than the GFC)The future is scary, but at the same time I chose to focus on the present moment and make the most of it, otherwise I will spend my whole life worrying. There is no end to how “well” we can prepare ourselves. After a certain point, preparation becomes fear driven.
Yes, anything CAN happen. I’m only concerned with what WILL happen. I know with 100% certainty that inflation will continue and that s~~~ will be at LEAST twice as expensive 5 to 10 years from now as it is today. Knowing this fact, I absolutely MUST prepare. I can’t just rest on my laurels and expect everything to be fine. I’ve worked too hard to throw it away now, and that’s exactly what I would be doing if I stopped right now.
20 to 30 rentals. Once I have that much, I’ll stop fighting so f~~~ing hard as I will have reached a plateau. At that point, I’ll naturally be able to acquire another rental every couple of years with no real effort on my part. But until then, I can’t stop. If I stop now, I might as well resign myself to being a wage slave for the rest of my life and dying a miserable death.
20 to 30 rentals. Once I have that much, I’ll stop fighting so f~~~ing hard as I will have reached a plateau.
Fair enough, brother. If you believe having 20 to 30 rentals is the optimal amount for you, then that’s cool.
We all have come across people saying “if only I have this much or that much, then I will be happy”. Most cases, not all, the person became miserable and feeling empty when they reached their goal. I am not implying that you are destined for this same outcome. I am assuming you have an awesome plan to continue along your journey, after you have reached your goal, rather than getting stuck at a dead end road.
A tranquil mind is neither happy nor sad, it is uninfluenced by external conditions.
Anonymous38$3000 = ~ £2220. I can assure you that it is possible to live very well, not frugally, anywhere in the UK on £2220 per month when you don’t have a mortgage or rent to pay (not to mention no risk of being thrown out of your home or having it seized by the bank).
Again, right this minute, I agree. But 5 or 10 years down the road you’re f~~~ed because your income won’t keep up with the rate of inflation. And honestly, I wouldn’t consider $3,000 a month living “very well” even right now. Unless your only source of entertainment is movies and video games and you don’t go anywhere or do anything, and even then. I suppose you could pinch pennies and make all your own food from scratch, never eat out, only buy a new TV every 10 years or so (assuming it lasts that long – my guess is modern TV’s will be lucky to get 3 years out of them).
Living is VERY expensive. I just got a quote for 3 blinds in my living room. 3 f~~~ing blinds and the quote was $3,000. I suppose I could just go to Walmart and rig a couple of $20 shades together, but I don’t want to live like a hillbilly. Just standard maintenance on a house gets pretty expensive. I need a new driveway as mine has literally cracked in half. $15,000. I mean, WTF…seriously…? How am I supposed to afford even basic s~~~ like this making $3,000/month?
My deck is literally falling off. Another $15,000. I suppose I could use s~~~ wood, but then it requires constant maintenance and looks like s~~~. And it’s still like $9,000. I suppose I could finance it, but no bank is going to give loans like this to someone making $36k a year.
And this is how it is NOW. Imagine what it’s going to be like 5, 10, or 20 years from now when my income hasn’t kept up with the rate of inflation. $3,000/month is enough for someone to rent a s~~~ ass apartment in the ghetto and spend all day in front of the TV/computer eating Cheetos with his buds. You can forget saving up an emergency fund to be able to handle unexpected expenses with your rentals. You can forget about ever changing your situation and increasing your income. Your only recourse is to work and start over from square 1.
I got £20 blinds from Ikea and fitted them myself. I don’t live like a hillbilly, I live alone in a comfortable house completely furnished to my tastes. Spartan, white or light coloured walls, carpets and original wood flooring, books everywhere and a few gadgets. I have done almost everything myself and it looks better than what most builders can do. My blinds work perfectly well. I don’t need to impress anyone with fancy blinds. I’ve even had chicks compliment me on my décor!
I’ve learned to live well with disposable income of £1k per month. And by no means am I scrimping. I’m talking good food and wine, money for hobbies. A lot of people have far less disposable income than that each month. I don’t give a f~~~ about clothes anymore even though I can afford to buy nice ones.
Rental income might not be in direct alignment with inflation but that 3k isn’t gonna be halved in real terms any time soon.
This is all a question of how much a man needs/wants to live a happy lifestyle. We clearly differ in this regard. But I mean no disrespect, I take my hat off to what you’re achieving.
This is all a question of how much a man needs/wants to live a happy lifestyle. We clearly differ in this regard. But I mean no disrespect, I take my hat off to what you’re achieving.
+1
At the end of the day we can agree to disagree and at the same time remain brothers during these dark times. This IS MGTOW! Typically, arguments start because we are trying our best to validate ourselves through our own point of view and when someone disagrees with us, our ego takes a hit. Peace out.
A tranquil mind is neither happy nor sad, it is uninfluenced by external conditions.
Anonymous38But 5 or 10 years down the road
We can do our very best to minimize any future downfalls, but at the end of the day anything can happen.
1.) A very high bachelor tax is put in place
2.) World War III
3.) Single wealthy men are forced to look after orphans
4.) Global economic collapse (much worse than the GFC)The future is scary, but at the same time I chose to focus on the present moment and make the most of it, otherwise I will spend my whole life worrying. There is no end to how “well” we can prepare ourselves. After a certain point, preparation becomes fear driven.
Yes, anything CAN happen. I’m only concerned with what WILL happen. I know with 100% certainty that inflation will continue and that s~~~ will be at LEAST twice as expensive 5 to 10 years from now as it is today. Knowing this fact, I absolutely MUST prepare. I can’t just rest on my laurels and expect everything to be fine. I’ve worked too hard to throw it away now, and that’s exactly what I would be doing if I stopped right now.
20 to 30 rentals. Once I have that much, I’ll stop fighting so f~~~ing hard as I will have reached a plateau. At that point, I’ll naturally be able to acquire another rental every couple of years with no real effort on my part. But until then, I can’t stop. If I stop now, I might as well resign myself to being a wage slave for the rest of my life and dying a miserable death.
Dude you need to get some perspective. You have already made it, already enough to not be a wage slave. It’s slightly galling for ordinary men to read of a 26 year old worth several m saying that.
Fair enough follow your dreams to be super rich. But don’t kid yourself, you already are by most people’s standards.
Anonymous38Some guys die before they get to enjoy their wealth. Just saying.
got £20 blinds from Ikea and fitted them myself
I have used a sewing machine to make my own curtains. They look pretty decent too. Double pinch pleat with a curtain tape to reinforce the curtain hooks and backing material for the entire curtain material.
A tranquil mind is neither happy nor sad, it is uninfluenced by external conditions.
Anonymous1I couldn’t care less about having wealth just for the sake of having wealth. I just want my freedom. And yes, having 3 rentals, mortgage free, would earn me about $5,250. After property management, let’s just say $5,000. After taxes, about $3,000. That’s enough to live very frugally in a one bedroom apartment and never go anywhere or do anything. But for how long? 3 years? 5 years? How long until that $3,000 only buys about $2,000 worth of goods and services? Then you’re screwed because you don’t have any other way of increasing that income. You have to start over again at square 1.
I’ve thought about getting into the Rental Business as a nice reliable source of income. I’m not sure what the problem is here.
Can’t you just increase the Rent every year to keep up with inflation?
How people work from 18 to 65 at a 9 to 5 job is beyond me. I’d just put a f~~~ing bullet in my brain and be done with it.
Because many of us didn’t have the luxury of being at the right place at the right time, as you put it, and we have no other choice. Sure, it’d be great to be well off like you, but I have to be content with what I have because putting a bullet in your brain is a pretty stupid thing to do.
I really don’t know what to think here, when you are basically saying that if you had to live my life, you’d kill yourself. You say you started off dirt poor, but you were very young back then and you really don’t know what it’s like to not have your wealth as you’ve been wealthy all your life…………except when you were a child, I guess.
The evil in women’s hearts leaves them no moral bounds as to inhibit them from descending to the lowest levels of darkness to acquire their self entitled desires.
Dude you need to get some perspective. You have already made it, already enough to not be a wage slave. It’s slightly galling for ordinary men to read of a 26 year old worth several m saying that.
Fair enough follow your dreams to be super rich. But don’t kid yourself, you already are by most people’s standards.
And just living in a first world country and having access to this website makes you one of the 1%’ers in terms of world population. There are always people worse off than you. What’s your point? Yes, I’m well off. I’m not disputing that. But I’m not where I need to be in order to be set for life. If I were in my 60’s then sure. But I’ve got a long way to go before I bite it and I’ve got to make sure I have enough passive income to take me to my old age
I’ve thought about getting into the Rental Business as a nice reliable source of income. I’m not sure what the problem is here.
Can’t you just increase the Rent every year to keep up with inflation?
Of course you increase the rent every year. The problem is, the REAL rate of inflation is around 10% per year and I can’t increase rent by that much per year. I make it clear to my tenants that the rent will go up by 4% a year, but unfortunately that’s not enough to keep up with the real rate of inflation.
Because many of us didn’t have the luxury of being at the right place at the right time, as you put it, and we have no other choice. Sure, it’d be great to be well off like you, but I have to be content with what I have because putting a bullet in your brain is a pretty stupid thing to do.
I really don’t know what to think here, when you are basically saying that if you had to live my life, you’d kill yourself. You say you started off dirt poor, but you were very young back then and you really don’t know what it’s like to not have your wealth as you’ve been wealthy all your life…………except when you were a child, I guess.
Everyone has their own tolerance for things. I have NEVER been able to follow orders or keep a rigid schedule. I knew ever since I was a little kid that I’d have a hell of a time keeping a regular job. I just couldn’t handle it. I still couldn’t. It’s not just about wealth or money. It’s about being able to handle working for someone else.
Yes, you have to be at the right place at the right time and make all the right decisions in order to become wealthy. But anyone can work for themselves. You’re not necessarily going to become wealthy doing so, but I would rather work for myself making $30k/year than work for someone else and make $3M/year. It’s not just a preference though. I don’t think I COULD work for someone else.
And yes, I remember what it was like not to have any money. Having to count change at the grocery store and go through the humiliation of putting items back because you didn’t have enough money to buy them. Walking around with holes in my shoes, and buying everything from garage sales and thrift stores. We didn’t even have a refrigerator or a home phone until I turned 7 (I’d never even seen or heard of a cell phone back then).
When I say dirt poor, I mean DIRT poor. Lived in a f~~~ing mobile home in the middle of bumf~~~ for $150/month rent. The stove we had until I was 15 only had one working burner (the really small one). It must’ve been from the 1940’s. I’m not f~~~ing kidding you. We lived in Washington State where it rained pretty much constantly. We’d have to switch out the buckets that we’d put under all the leaks in the ceiling in the living room every hour or so all through the night.
I vowed that I wouldn’t stay poor like this and that I would do everything in my power to pull myself out of the gutter. I focused all my energy on computers and sacrificed my childhood in order to gain the skills necessary to do my job. I’ve worked my ass off and I’ve come far. But sadly it’s not far enough. Thanks to our horrible government and the banks, getting ahead is nearly impossible. It requires SO MUCH wealth and power to get ahead it’s unreal. You may look at me and say that I’ve already made it in life, but I’m but an insect compared to the people that have really made it and are truly free.
I’ve worked my ass off and I’ve come far. But sadly it’s not far enough. Thanks to our horrible government and the banks, getting ahead is nearly impossible. It requires SO MUCH wealth and power to get ahead it’s unreal. You may look at me and say that I’ve already made it in life, but I’m but an insect compared to the people that have really made it and are truly free.
Well, you seem like an ok person, so when I say, “good for you”, I really mean it. You are obviously well on your way to achieving your goals and sadly, most people can’t even set those types of goals because they seem so unrealistic. However, as you said, you’ve worked very hard and I hope it pays off for you as you wish.
People like me who were raised where and how I was, this is how life is. All I knew was what I was taught by my parents and my surroundings. You finish school, (high school, not college…college was for those other people), then go out and get a job and earn a living working for someone else. I’m 51 years old. I’ve known for several years what I could’ve and should’ve done, but by then it was too late.
I am not complaining though. I am actually doing much better than I ever thought I would. I am much better off than I thought I would be. I have everything I need and much more than I need, even though I have had to work for others to get it. Someone has to do it, right? Not all of us can be the rich and powerful ones. You need people under you to work so you don’t have to, just as I need people to work in the factory so I can work in the office. I worked in the factory for half my life and was finally able to move up.
I don’t have “wealth”, but I certainly don’t consider myself poor either. I feel as though I’m in the middle, if you believe there is a middle. Doesn’t matter. When I get home from work today, I’ll be happy and content and won’t shoot myself in the head. All I am worrying about at the moment are the trespassers I recently caught on my camera. I think the police are taking care of that though, so I’ll not be worrying about that for long.
The evil in women’s hearts leaves them no moral bounds as to inhibit them from descending to the lowest levels of darkness to acquire their self entitled desires.
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