Follow up on Rich Dad Poor Dad...General consensus is to buy real estate...So for those of you who have read the book, have you bought any real estate lol?

likesmart
Posting as :
works at
You are currently posting as works at
Highlighted IconHIGHLIGHTED

Would love to but I have no money and live in NYC. Excuses but think I will be more ready in a few years

No.

You are supposed to stop reading before the real estate sales pitch.

Now read Millionare Next Door so you can brush off your head the Real Estate mumbo jumbo.

Lastly, read A Random Walk in Wallstreet

I have a few investment properties and they take a considerable amount of time and stress to manage when things go sideways. I would focus on maxing out retirement accounts, buying your primary residence (or house hack), and after your debt, emergency fund, and retirement is set, then think about real estate investing.

like

My first property was a house hack in northern New Jersey. Now its fully rented (two family) and I live on my own single family. I also have two apartments in the Dominican Republic and a beach condo there as well.

The more I come up with the numbers the more I realized that maybe by just putting the money in the market, rather than into the properties I would have yielded a better return. Of course that's a lot of hindsight.

I will probably unload some properties in DR and just stay with the beach condo, and rent it short term. I am also staying with my 2 family in Northern NJ. Those are two really nice nest eggs, but I fully expect the bulk of my money to stay in retirement accounts. I currently have about 200k, all invested aggressively, the net worth of the properties is about 300k more (800k when mortgages are paid).

The properties require me to think about them, deal with tenants, deal with utilities, etc. I've spent 6-9 months not even looking at my 401k (I still read the journal or bloomberg).

Hope that helps a bit.

I started this at 24, am now 36.

like
Recent IconRecent

Making living unaffordable for poor people great way to earn a living

likesmarthelpful

D3 I'm not following...? No one is talking about gentrification or something of that like.

like

Yes, four single family houses now.

like

Yes, it has been my goal since I read the book. Bought my first single family rental last year

like

I bought it for $270k in North-East Los Angeles which appraised for $290k out the door. Positive cash flow of over 10% monthly with section 8 tenant. I was looking for a property for over a year before I got this one. I made around 8-10 offers on other properties.

like

Where is Karl marx when you need him the most.

like

I’m a bit younger (26) so I haven’t, but my dad is big into real estate. He read it and then had me and my siblings read it about 15 years ago

like

Yes, many people I've found in real estate got started with that book

Makes sense 😂 Cheers

So what do y’all think about the idea against real estate by JL Collins?

Selective reading much, EY3? You ignored the facts on the returns and decided to focus on the footnote which is the 16 country data point. Much like it sounds like you listened to one or two interviews and made your own interpretation of JLs views.

So let me break down some facts for you
1. He is against real estate when people call the house they live in as an investment
2. He is not against rental properties and even says they can be a profitable vehicle.

And a "3br house hack" is not a data point to compare against VOO. So what numbers are we talking about and what assumptions?

Yes bought 2 rental properties and ploughing the profits into stock market!!!

Related Posts

Anybody reading books about real estate investment or related topics? Drop your recommendations! (Except Rich Dad, Poor Dad 🙄🤢)

like

Hi Fishes - real estate investing newbie here. My level of knowledge is essentially at the rich dad / poor dad level. Any recommendations for best books to read / best YouTube channels to follow to get deeper knowledge? If it helps, I live and hence will probably invest in the NY/NJ area… TYIA!

Hi - any good books recommendations for getting started on real estate investing?

like

Considering getting my license and starting off as a real estate agent. I've always loved real estate, house flipping, interior design. What can I expect as income and time commitment as a brand new agent with no book of business? How hard is it to get established and become well known in my area? I'm in the Bay Area. Anything else I should know before I quit my job and persue this dream?

like

How do you get better at contract negotiations? (I’m a 4th yr. in commercial real estate) I feel like I’m generally good at pulling together an initial draft of an agreement (ex PSAs)...but I struggle when comments come back. Specifically, I struggle with reading newly proposed language & deciding what stays, what goes, & what needs to be tweaked. Are there books I can read (or CLEs I can watch) to get better at this?

like

Seeking advice / recommendations:
Hello everyone, I'm trying to get into real estate investing. Some of the books I've read have talked about buying multi-unit properties and utilizing investors to get the necessary capital. Does anyone have experience in getting investors? How do you identify investors who may be interested? Are there any sites where you can invest in or post real estate investment opportunities?
Thank you in advance

like

I am 7 years out in a transactional practice (real estate) and have an opportunity to move in house at a regionally respected company from a midsize firm. I have WFH flexibility at my current firm but bill about 1850-1900 per year. It would be about a 25% paycut. I have also been offered partnership starting in 2022 if I stay - not entirely clear what that long term structure looks like (would have to develop a partially independent book in next 3-5 years). Am I crazy if I leave?

like

I feel like I have no idea what I am doing when investing in stocks/real estate. Any recommended books/videos? Thank you

like

Hello everyone, I'm trying to get into real estate investing. Some of the books I've read have talked about buying a multi unit property and utilizing investors to get the necessary capital. Does anyone have experience in getting investors? How do you identify investors who may be interested? Are there any sites where you can invest in or post investment opportunities?
Thank you in advance.

like

This is for my real estate agents. I’m brand new into the business and I adore the work. What tips or pointers can you give to a new agent- I’m in Las Vegas if it helps to be specific. If anyone has any book recommendations that’d be awesome as well. I’m looking to learn anything and everything. For example, learning what I can and can’t do to make a deal close

like

Want to start investing and growing some of our savings but I have NO idea where to start. Buy real estate? Invest in the stock market? I’m clueless. Can anyone recommend some books or resources as a good starting point?

like

I’m interested real estate investing (buying my first house this year) and would like to learn more. Does anyone have book recommendations? I can’t decide between flipping or rental income properties but also need to just learn about the whole home buying process.

likehelpful

Best book(s) to get started in real estate investing?

Hi all- I’m new to real estate investing. What are some books/ reading materials you would recommend to learn about selecting the right investment property, things to look out for, laws etc.?

like

Any real estate book recommendations for a n00b?

like

Any good real estate investing books out there?

like

Trying to understand modeling math/mental math better. Trying to break into real estate and more interested in cap rate relationships, how returns change with varying LTV (quick math), irr and equity multiple math. Open to paying for a course or books!!! Thank you everyone!!!

For any of you real estate investors, what tools or sources did you learn from when getting started. Can’t find a mentor currently so want to find some highly recommended books or videos. If focused on the tri-state area (NY, NJ, Long Island mainly) that would be even better. My hope is to buy and rent out a apartment while also owning a house and house hacking that by renting part of it out. Trying to understand all the steps, traps, and how to find if it’s a good investment.

like

Any good book for learning about real estate? I live in NYC,23 and I'm interested in getting in it next year God willing...?

like

I want to start investing in rental property/real estate..but I'm totally clueless about all the costs/risks. Any suggestions on good resources likes websites or books you guys uses?

like

More Posts

Anyone here use Blade in NYC? Thoughts? For offices in Hudson Yards it seems worth

like

MoFo Silicon Valley — thoughts?

like

A 60 lakhs INR package in Germany is equivalent to what in India ? Means in terms of living expenses there and other things.
If I am getting 30 lpa INR in India then how much should I ask for a project in Germany

likesmart

What is relocation amount will I get for JG5 in bengluru.
Currently in Pune

like

Is Peter going to pull an Arie?

likefunny

Is it ok to play with your dog in apartment building hallway?

likehelpful

Tips for getting out of a quarantine-induced funk? It’s been a tough week...and it’s only Monday

like

Hi guys, just started a new job (Jan) for more money than I’ve had before. Problem is so far I’m being trained almost as a personal assistant. I thought my manager was just doing thorough onboarding but now, a month in I’ve realised my manager is a micro manager and I don’t know what to do about it. Should I look for a new job or try to have a conversation about it?

like

How much are the doctor secretary or provider administration assistants making ?

like

Last night after the rain in the foothills 🌈

I love this state!

Post Photo
like

I am curious what the average pay range for underwriters in the life space is? I’m currently in senior management for an Insurtech start up, but have always wanted to get into underwriting. What I’m reading shows the average salary is around $68k. Is this accurate?

like

I would love to get some opinions on LVP (“luxury vinyl planks”) as a flooring option. I have to redo my kitchen floor and I’m concerned they might not hold up too well, I don’t want to regret it when I go to sell my place in a few years.

like

Can Anyone in Cerner Corporation refer me for this role Asset manager. I'm an ex employee.

I am super nervous. I have an ob appointment tomorrow and we are going to be discussing if I will ever be able to carry children. I have suffered 2 miscarriages and my husband and I have been talking about starting a family. Anything that can help with my nerves?

like

Joining the ranks of the remote teachers tomorrow. What do I need to know?

like

I don’t think I’m an account person. As an AAE, I learned nothing (but that was because my team was toxic). As an AE, I’m learning the role of an account person and I’m making a lot of mistakes.

like
like

For people who are AWS SAA certified, what is a good reading resource (book) that I can rely on, instead of on online course like Udemy. I somehow feel good only after reading some material than listening to the classes. Has anyone passed the exam just by reading and practicing, without watching any videos?

like

I’ve been at my company for about 18 months and don’t have many women in my role and none in leadership. I recently found out that not only am I underpaid as a top performer when compared to male peers but that younger, less qualified men are being offered significantly better offers than female recruits. I am making more than I’ve ever made before, and management has told me that my salary is more than I made in my prior role (it is). Am I over reacting to want fair comp?

like

Does anyone have any credible/articles with merit regarding NEO. Haven't seen any dapps coming out on the platform or anything in github

like

Additional Posts in Personal Investment Chatter

Anyone think that Meta should be cashed now? Any ideas - I don’t have much, a couple grand really.

like

Asking for advice on managing investment accounts please and what type of investments make sense in each! I currently have:
1. A regular brokerage account (mixture of stocks and ETFs)
2. a separate robo advised (commission free) broker account (primarily invests in ETFs)
3. A Roth IRA (also robo advised) - primarily holding ETFs
4. HSA (that I'm maxing out - mixture of stocks and ETFs)
5. 401k - maxing out, also mixture of stocks and ETFs

Any advice/criticism/insight appreciated. Thank you!

like

Folks with startup options experience: what questions do you wish you’d asked/what horror stories have you heard/had?

I feel like I have a rough sense of the basics (ISOs vs NSOs, strike price and 409A valuations, preference overhang and 83b elections, etc.) but nothing beats real world experience, and I have none.

For context: I’m looking at an offer from a late stage startup for 1000 with a $60 strike price, $160/share valuation, and idk about the preference overhang or overall valuation

like

Is anyone buying NIO stocks?

like

Just landed on 40k unexpectedly from an inheritance. Investments, college, retirement all sound. What should I spend it on? I’m good with an interesting investment. Or a fun toy?

like

I am a former expat. Spent 2 years in the US and still have money in my citi MM and checking account. How do I proceed best if I want to invest my funds at citi in ETF‘s? No trading account yet.

like

What finance podcast/show/guru do you prefer? Do you have go to finance books you recommend?

like

Is there a good book to teach kids, teens and even college students about personal finance or should i write one?!

likeuplifting

Futures hit down limit again

like

Want to buy a house in bay area? Is this a good time? Thoughts?

like

Elon Musk! 🤪

funny

What is a great budget/expense tracking app you use? Looking for one that consolidates all my credit card spendings in one!

like