What to do with affiliate monies? (Disregard liabilities, acquire assets)

Cracker

Cracker

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Jan 3, 2008
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Say I am earning a good amount of dough. I have no idea what to do with it now. I already have the house I want, vehicle I want, and all of the computers, electronics, etc. other depreciating shit I could ever need/want.

What are you ballers doing with your money, asset-acquisition-wise? Some things I have considered are real estate and web properties...problem is I know nothing about picking good real estate and the only place I know of to purchase websites is on flippa which has fuck all anymore.

I have funded my retirement accounts to the max as well and have that intelligently invested (Vanguard FTW). Precious metals is another option, but who wants to have $1,000s of gold and silver sitting around in their house.

How are you acquiring assets?
 


I'd like to know this as well. The people I talk to - mention real estate, however I'm very skeptical of that industry as it's VERY hard to get your money out of it, once it's in it.
 
Start wheeling and dealing in private equity. Go out and meet your wealthy neighbors who are already privately invested in bank startups, REITs, office buildings, etc
 
Hurr-Durr said:
I'd like to know this as well. The people I talk to - mention real estate, however I'm very skeptical of that industry as it's VERY hard to get your money out of it, once it's in it.
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Not necessarily hard to get your money out of it. But why wouldn't you want to? Invest for cash flow - not capital gains - and then you never have to worry about that.

Also, don't forget that with real estate, you're using (mostly) the bank's money - not yours - to get rich(er). Plus, there are huge tax incentives to own real estate.
 
Invest in profitable brick and mortar business, hire a dedicated manage who's proven himself and overpay him. What I'm doing when I hit my target this year.

I'll be a happy camper once I own 10-20 small stores selling food, drinks, toys etc
 
Im all for buying duplex's and other multifamily homes. The real estate market is shit right now (meaning its a great time to buy) if you do a little research you can find some really good deals on the market. Find something that doesn't need a lot of work and is occupied (a ton of people lost there house and need a place to live) and then get someone to run them. If you get good people in you will be surprised how little work is needed to keep it going, although this is the hardest part.

The nice thing with multi family properties is that you always have cash coming in (and going out) which can help float you if cash is short for other areas of you life. If your making the all the money you say then I am sure you are smart enough to handle buying these.

I know a lota guys will tell you to run away from real estate right now, but these are the same people that lost all there money on the Internet stocks blew up or the ones that always do what everybody else does. The other people who will tell you buying real estate are the ones that have never owned any.
 
I was doing well with rental properties in southern California until the socialists took over some local governments and started putting in place some very confiscatory pro-renter laws. Got out in the nick of time before rental property values took a hit. That was years ago. If I was buying now I'd try to understand the local legislative climate before I invested in any community. Rich "slumlords" are a favorite target during rough times when politicians want to pick up some votes from the masses.
 
If you can buy real estate by being self employed your paying too much in taxes.
 
5% - Liquid cash
10% - Stuffed in retirement accounts (IRA's, etc..)
10% - Gold/Silver/Precious Metals
10% - Annuities
10% - Stocks
10% - Bonds/T-Bills
15% - Cash Flow Positive Real Estate (Setup in a Trust)
30% - Mutual Funds
 
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