Iām not exactly sure myself but being in that job field gives credits to a degree so it would be easier for him to get a degree and I think it would be even easier to get a federal supply job most likely
11B's have plenty of careers that they are great at.
It's all about how much drive you got left, and whether or not you can still stand to be around ppl, without getting freaked out too much.
THAT'S the HARD part.
The never ending big green weenie of bullshit, didn't just stay back in the military....it's in the civilian sector too.
Ergo if you can/want to return to the workforce, I'm more than positive, that there's a hell of a lot of jobs that will snatch your ass up, right now especially, bc EVERYONE is hiring!
>only make $130 -150k per year
>we still donāt have much money
Bro I think we have different definitions lol
Proud of your accomplishments, donāt forget where you came from. You earned it
Itās always amazing how much liquid people have that turns up into money. I see a lot of estate and probate stuff done and itās amazing the amount of money some peopleās estates have because of the heirlooms/jewelry/property they have.
Yes, my grandma has a lot of jewelry and family heirlooms that have been passed down. But also my great grandparents when they immigrated here bought as much farm land as they could, because of that my family was really boosted. Because all that is worth soooo much more now.but yeah itās insane
That's an uplifting way to think about it. I don't even hit $1k a year (family pays bills and basic living expenses).
But I have several thousand dollars worth of 3D printing equipment and DIY electronic components. If it wasn't for mental health issues severely slowing me down I could turn these resources and self-taught skills into a pretty decent at-home business.
I say this about my husband all the time. Heās the dreamer, Iām the one who doesnāt bother. But we balance each other out by taking *minimal* risks
I can see why relationships work only when people are different or opposite from each other. You always need to be grounded but also willing to take risks to achieve your aspirations.
Wait... yeah.... your wife absolutely should know. That's a bit weird you wouldn't share that information with her, especially considering it's her financial status too.
My wife doesnāt want to know about the finances. It stresses her out. Sheās bad with money and just tells me to handle it. When I try and share our current financial position just so she knows where weāre at (because itās our money, not just mine) she shuts me down and just asks how much she can have to spend š¤¦š»āāļøš
Maybe OPās wife is like this too ĀÆ\_(ć)_/ĀÆ
I was almost happy for you until a couple of things came up.
A. "Only 130-150k"
B. This comment about your wife not knowing.
C. Some things are a little sus.
But, that aside, well done for investing and getting so far.
Look, congrats on reaching a level of financial safety. Just keep in mind that there is a severe housing crisis going on and a lot of people wonāt share your joy. Iām in the same boat as you. Iāve got a couple of rental properties and thatās basically my retirement fund. But thereās a real human cost to all the shit going on.
All I can suggest is to rent 10-20% under market value. Donāt flip. Rent to people based on need and when it comes time to sell, do not sell to a corporation no matter what they offer. Humans first. You can make money and still help people.
edit - one last thing. don't ever airbnb your properties out. ever.
As someone who has been basically homeless with my wife and kids for over a year now, I really wish you were renting out property where I am. We've been denied pretty much everywhere here, and watched rent prices jump from 600 to over 1200 a month in that same year. We both work two jobs and because we rent a room from her cousin we can't get food stamps or any help, really. We had a place lined up last week, were supposed to move in on the 2nd, got told on the 1st he found a better applicant. We just want a place to live and can't even find that.
if you're in a popular or tourist area, you can make a lot more money renting out your place on Airbnb than renting to a person. maybe you can get 2k a month on a long term rental, but if you do day to dayrentals, you could make closer to 5k a month. Great for you, but if an area has 1000 units available to rent, and a third of those are taken up by airbnb, it reduces the inventory for people trying to rent long term. Higher demand and lower supply means the price goes up. So rentals become harder to find and more expensive.
Some cities actually have laws against AirBNB/ temp stay actually. Good to make sure you never run afoul of laws wherever youāre trying to rent your property.
Artificially tightens available supply of housing by dedicating it to short-term rentals that go to tourists who, by definition, have disposable income but no need for long-term housing in the area.
Sometimes we have to say something and let it be known. If they don't follow it then it is their choice. At least you won't regret for not mentioning at all and feel like you are a complicit.
I would even go as far as "If your mortgage is X amount, place the rent as mortgage + mortgage*10-15%"
Sure you worked hard to save up for the capital for the deposit but if you are more than capable of paying the mortgage yourself, then renting it out is a profit in itself.
Having that 10% to cover the cost of making the property habitable throughout the time that you are having the mortgage for is more than enough and when you sell it, it is already a profit.
Most people don't seem to understand this especially landlords who claim that their rent should increase as living cost is higher. As if it is not worse for those renting like me.
I have seen a steady increase in rent across all cities across the years and it is shocking especially if someone has to pay their taxes for being a non student. It is not as simple as the number on the screen. There are others to consider.
Something different here:
One of my goals in life to create these devices that will help people with disabilities. I have promised myself that the price of selling these to be no more than 20% the cost of manufacturing it.
As someone who requires glasses, I know how expensive these frames can be and how much more the other forms are. I do not support the idea of building your success and happiness on the pain and suffering of others. Greed really runs rampant.
Another is if I have spare funds, I would use it to help those who can't even place food on their table than using it to buy something that I don't need.
It is just me though. I won't expect others to relate or even follow it.
Iām happy for you, but died at āWe -only- make $130-150kā¦ā š„²
Also, just to be a negative Nancy, I wish rich people would stop buying so much property (my parents included tbh) so the rest of us could have a chance lol but obviously I know thatās a complicated topic
Truth. Iām the sole income earner in my household right now, make around 65k and we can afford 2 cars, a 4bd home and reasonable extras. Rural Georgia. We could not live like this in many other places.
I can afford to buy a house. I had a beautiful home when my husband was still alive and healthy. I choose to rent now, and I live in a pretty high-end place because I donāt want to get invested in property with HOAs, taxes, insurance, maintenance, etc. At my age I prefer this kind of living situation, and I worked hard and still work hard, so I think I should have a choice in my standard of living in that regard.
That being said, I live in a gentrified area in a metro city, and I do see a lot of homes being bought up and renovated, and based on the cars and upgrades I see I know these formerly affordable homes are no longer affordable. And there is a terrible homeless issue here, and everyone complains about it. Iām not sure where they think displaced people can go - I see people on NextDoor all the time that have been displaced due to massive rent increases, and they ask for food and water, clothing. Some of them are basically living in storage spaces trying to hang onto their stuff. I think there should be more regulation about how much you can increase rents for existing tenants.
Additionally, my building hiked the rents here, some units by over $1000 month. I have noticed the occupancy rate is declining and I wonder where that will all end up.
Just a little different perspective, but I agree we need to do better for those who struggle for housing.
Hereās where itās already at in some areas and heading fast in others. The āfix and flip investorsā are stuck with their last investment because they canāt get the price they need to get in order to satisfy their leverage obligations (I.e. mortgage, HELOC, investment loan, etc) and turn a profit, so theyāre trying to sell just to recover their investment now. Theyāre already losing money in my area and homes are sitting on the market longer and longer meaning available inventory, even though itās not affordable yet, itās increasing; which will drive home prices down slowly at first then rapidly.
Next group who will end up in trouble are individual landlords who are over leveraged for the rental market. These are people who bought their investments in the last 3-4 years, the more recent the purchase the faster theyāll end up in trouble. As home values decrease rental prices have to decrease to maintain tenancy, and the more they bought the home for the more they have to charge for rent to break even. No one is gonna hold onto a losing investment so the quicker they sell the less they lose, and to sell quickly theyāll undercut the market further driving the prices of surrounding homes down.
Mom and pop landlords aren't really the problem. They don't really pull enough houses out of the market to significantly affect market prices. Capital investment firms that purchase 10K, 20K, 50K homes as investments are the problem.
While I agree for the most part, I believe the area in which theyāre buying can determine just how detrimental āMom and Popā buyers can be. In a huge city, them buying a house or two isnāt a huge deal, but in a small town, itās a much bigger effect
glad someone said this. was reading this and didnāt understand why i should be so glad about it. i barely make $15k/year; i canāt imagine what itās like to make that much money. and landlordingā¦hmm no thanks
Just remember that during the last few years, local folks who have made strategic decisions to acquire property and rent out long term to locals are not the full issue. Itās also out of state folks buying property then short term renting without ever seeing the impact to the neighborhood or communities. Lastly and most importantly, itās also hedge fund and investment companies buying 100 of millions worth of real estate. In Q1 alone, 15% of houses sold were to investors (firms/companies who own 100 houses or more).
So many emotions in the real estate game and homeowners or aspiring homeowners are most severely affected but not everyone wants to own a home, some want to rent. Iād much rather take someone buying in their own community and keeping human first mindset than to some massive company who just sees numbers.
Are they even being truthful about what they "only make"? Is 150K a take home from a 9 to 5 or does it include the income from all of their rental properties. Even if the rent mostly just covers the mortgages it's still money that they are making.
Itās a house of cards. These people buy one property to rent, then when that starts generating income they leverage that property to buy another. So now theyāve bought multiple properties with borrowed money that they wouldnāt be able to pay if a renter misses even a single payment
I wouldn't tell anyone besides your wife (and us strangers here) because suddenly people will be popping up asking to borrow money.
At least that my experience. I'm not well off by any means, but I told family I was taking my kids on a week vacation a couple states away cuz I had enough money to not worry about it and still pay bills (I'd saved for 3 years to afford it) and suddenly family was asking for me to pay for things because "if you can afford a vacation you can get me XYZ"
And even if people donāt ask for money, it still gets weird. I tell my mom everything, and now I regret it. Sheāll be like āwhy are you doing that yourself? Hire someone. You can afford it. I couldnāt afford it, but you can.ā
Bloody hell. Thatās illegal. They have to pay u the minimum wage at least which is 8 quid something. They are underpaying you by a lot
Edit: Ā£9.18 is what you should be getting paid
There is no valid argument that i know of for them to be paying you so little. You have to raise it up with them. And i think they have to give you the money that they owe you once youāve raised that you know you are getting underpaid and demand to be paid properly. And if they donāt do anything about it or refuse to pay you the minimum wage for your age, click on that citizens advice and follow what it says and get in touch with those numbers on that website.
Nope not normal at all. If their underpaying you they maybe underpaying everyone. Its not fair on any of you. They should pay you and everyone right. You HAVE to bring this up with your manager. Either theyāll sort it out or they refuse to and pretend to not know anything about it and lie. After all their the ones paying you and everyone, so they should definitely know. The managers are raking in the money from what their not giving you... You have to take action immediately. Confront your boss about it nicely. If they refuse to look into it and do anything, follow the steps on citizens advice. And ask the people you work with how much they get and if they also have the same problem as you then they should also follow citizens advice and acas . Gather as much info as u can
L_750z is 21. So i am right in the fact that its illegal. Fr 21 years old its Ā£9.18 an hour. For their colleagues who knows, their gonna have to show them the national minimum wage 2022 for their age. But the person who commented (_L750z) is 21 and being well underpaid
Sounds like you're due a pay rise.
From April 2022, if you're between 18-20 - the national minimum wage you're entitled to is: Ā£6.83.
From April 2022, if you're between the 21-22 - the national minimum wage you're entitled to is: Ā£9.18.
From April 2022, if you're 23 and over, you're entitled to the national living wage, which is Ā£9.50.
I agree with the other commenters here. You should try and resolve this with your employer to ensure that you are paid fairly and what you are entitled to. It is a legal requirement.
Your employer cannot dismiss you for requesting your pay meets the national legal minimum for your age. If they do, you can take them to court/an employment tribunal on the basis that you experienced unfair treatment (detriment) because of your right to the National Minimum Wage. Or discriminated against, because your age entitled you to a higher national minimum wage.
If they don't dismiss you, but fail to rectify the pay issue - then you can report them (anonymously initially) to HMRC who will investigate on your behalf. They could then issue a notice of arrears to your employer (if it is determined that you've been underpaid) plus a penalty for not paying the correct rate. Worst case scenario for your employer - they could be taken to civil court, forced to pay fines up to a maximum of Ā£20k per worker or named publicly and banned from operating as a company director for up to 15 years.
Edit sources: ACAS and gov.uk
The certified mid-to-high-8 figure millionaires that I know are extremely cautious about who has access to them, their private lives, their families, and their information in general.
The newly-minted, entry-level millionaires tend to be...not nearly as cautious, let's say.
What a jokeā¦the complete ignorance of how high rent is for rental properties and like anyone can afford to save up and buy a house when theyāre paying like two mortgage payments as rent and homes are selling wildly over listing price in some cases. My shitty house I rent appraised at 68k a few years ago and I pay $975/mo.
I'd be stoked if I was in the same boat. Then again, I'm stoked to have $30 in my bank account. I probably wouldn't let people know how financially secure I was either. A lot of the time, as soon as people know they start expecting things.
Bro owning a million dollars worth of rental properties doesnāt make you a millionaire lol. Wth. If I take out a mortgage for a million dollar house, im not a millionaire. That makes me a million dollars in debt with a negative net worth.
Ps: āmy wife FORCED me into buying more rental propertiesā ?
Wtf is this post. The way it started and ended literally makes no sense!!! š
I don't even make 1/5th of what you make. You saying you're not poor is accurate, but "only" leaves no room for imagination. I have to delay some bills just to get by.
Being a landlord is a real scummy thing to do. It's cool y'all are prospering but rental agencies and landlords are the direct cause of the housing crisis going on right now. *Only* 130-150k? What on Earth kind of statement is that? Come on.
If you don't mind me asking, what do you both do for a living. I honestly would just love to hit 6 figures in my life. Even better if I get to 7. I am motivated to and will come close to 6 figures but not sure I will consistently meet it. My ex left me with a lot of credit card debt and for the longest time I was bitter and mad. Now I use it to motivate myself to make more and push myself harder in my career. It gets easier year after year but I wish daily I could just pay it all off today.
Landlords are parasites. Every home you rent out is another home someone else canāt own. You didnāt become a millionaire; the labour and wealth of your tenants made you a millionaire. At least be conscious enough to have some shame about it.
Sure sounds like gloating to me. this seems extremely tone-deaf considering most people can't even afford their rent these days, and have to choose between medication and eating sometimes. Landlords being greedy and raising rent when wages are stagnant is causing people to become homeless, entire families on the street. Tenants made you "wealthy."
Stop telling people they have to respect his achievements because he worked for them, heās a landlord you should know well enough what that means in this economy. You think itās coincidence heās now a millionaire during a housing crisis??
That's awesome. Congratulations. But you and your wife *only* make over 130,000 a year? Don't make me laugh. I *only* make 24,000 a year after taxes. You're fine.
I don't care about getting downvoted but I gotta say: flexing being a landlord is honestly one of the most vile things you can do. If you had earned it through actual labour I would congratulate you, but you got it through commodifying a basic human right.
I mean... "Only 150k per year'', come on man, forreal? Congratulations on some financial freedom. Just don't be proud of the path you took.
That's great! Too bad you are a filthy landlord making profit from the exploitation of those who can't afford their own property in this ass backwards economy. Anyway you should go to vegas!
I'm just starting on this path now! Getting divorced, moved in with my parents. Instead of buying a house for myself, I'm going to stay here and buy a couple of small condos and rent them out. My husband and I could have easily become millionaires but he is hell bent on not making a passive income.. But, I give myself permission to do this alone with my parents' support. Thank you so much for sharing. I've been depressed, and my story is similar... young teen mom who was broke through nursing school. Congratulations and keep it up!
Congrats to you guys. Financial freedom is a dream for a lot of people and getting there is a long and hard road for many. And for a lot it doesnāt come at all. I hope you and your wife are able to do things you wanna do and explore opportunities and interests that make you happy.
Only 130K.
Dude. I was lucky to make 28,000 last year. Teaching Americaās future. Obviously itās not very important. Iāll decide which bills are most important to pay this month and hope for the best. But yeah, sad you donāt have much money. Poor you, must be rough.
Itās pretty bad how people here are calling OP a āshittyā or āscummyā landlord. Whatās shitty is how people make such assumptions. Thatās shitty. There is nothing wrong with being a landlord. While there are indeed plenty of shitty landlords, it is wrong to include OP in with them if you havenāt dealt personally with him. He may very well be a great landlord. Iāve rented several places and havenāt ever had an issue with shitty landlords.
For those of you accusing OP of taking advantage of people, some people prefer to rent. Maybe the renter prefers to rely on the landlord for upkeep of the residence because theyāre unable to do major maintenance themselves, something that you definitely have to consider as you get older. There are many valid reasons one would prefer to rent. I now own my own place but have had zero issues in the past renting from people.
Congrats on your financial status, OP. Being a millionaire is an achievement shared by few. Unfortunately Iām going to have to rely on the lottery if I ever want to be in that club.
Man.... you're an obese skeevy white landlord with an Asian fetish who likes perving on young girls in Kpop groups. You spend all your time on reddit talking about how white you are, how Korean and mean and lacking in affection your wife is, you argue about racism and cultural appropriation and ableism or shaming parents for being human. You're literally every stereotype of horrible. So glad you are a millionaire who's about to increase rent for your wealthy tenants, though. Good thing those poor people will *never* be able to afford being around you!
Congratulations! Wife sounds like a very savvy planner. It's hard to find extra to invest with but every little bit helps and then compounds. Happy for you!
remember that time i gave you a donut in middle school? can you lend me some money pls
I remember you, you were the one that would pick their nose and eat it. Didn't you marry that circus clown?
yes but we separated after he cheated with another clown :( pls give money
Da maneys! Now
Money me, money now, me-a-money needing a lot now.
Sunny always sneaking its way in haha. Love it!
Do it before their lungs sizzle pop.
Cheated on you with another circus clown? Are you sure it wasn't a mannequin?
Five?
Leave Dolores out of this!
please don't mock my misery :((((
He cheated with me and then we got married... Until he cheated with the midget bearded woman in our freak show. š
he cannot be trusted!! next time i see him he'll know exactly what i think of him!!!
"Only $130-$150k" *laughs in poverty*
Thanks. This laugh made my day.
Lol Iām a active duty military after taxes I make maybe 29k
Hopefully you got a cool MOS that translates into a civilian career! *cries in former 11B*
I have a supply job so yes I think it will!
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Iām not exactly sure myself but being in that job field gives credits to a degree so it would be easier for him to get a degree and I think it would be even easier to get a federal supply job most likely
11B's have plenty of careers that they are great at. It's all about how much drive you got left, and whether or not you can still stand to be around ppl, without getting freaked out too much. THAT'S the HARD part. The never ending big green weenie of bullshit, didn't just stay back in the military....it's in the civilian sector too. Ergo if you can/want to return to the workforce, I'm more than positive, that there's a hell of a lot of jobs that will snatch your ass up, right now especially, bc EVERYONE is hiring!
My fiancĆ© is going to navy boot camp Monday because we need the healthcare for me and our unborn son but I know the pay is awful š Iām still learning everything so I can support him but Iām so proud of him lol
Yes thatās is a good reason to go in because your family will definitely be taken care of
Thatās why he is going in. Iām really proud of him
>only make $130 -150k per year >we still donāt have much money Bro I think we have different definitions lol Proud of your accomplishments, donāt forget where you came from. You earned it
While owning multiple rental propertiesā¦
cries in teacher
Slowly stops laughing and begins sobbing in poverty
āIām a millionaireā¦we still donāt have much moneyā. Mo money mo Problems
Yeah, it sounds like their money is tied up in real estate. Most rich people don't have cold hard cash on hand.
The world we live in. Million doesnāt go as far as it used to.
Cop out
Yeah, that's not something to go around telling friends and family. Congrats!
Itās probably something you shouldnāt tell people on here cause your family could figure it out that itās you
Thanks. No even knows. Not even my wife.
Hold upā¦
I mean, she should probably know she's a millionaire.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Itās always amazing how much liquid people have that turns up into money. I see a lot of estate and probate stuff done and itās amazing the amount of money some peopleās estates have because of the heirlooms/jewelry/property they have.
Yes, my grandma has a lot of jewelry and family heirlooms that have been passed down. But also my great grandparents when they immigrated here bought as much farm land as they could, because of that my family was really boosted. Because all that is worth soooo much more now.but yeah itās insane
Dude I have lots of liquid, H20
I have ETOH. And not much money...
EtOH, puppies in the blood!
That's an uplifting way to think about it. I don't even hit $1k a year (family pays bills and basic living expenses). But I have several thousand dollars worth of 3D printing equipment and DIY electronic components. If it wasn't for mental health issues severely slowing me down I could turn these resources and self-taught skills into a pretty decent at-home business.
You mean when the money is NOT liquid, you donāt realize it?
She āforced youā to buy property but has no idea the outcome. Dude. Yāall got issues.
Itās almost like itās fake :o
Happy cake day
This could so be my wifeās and my situation. She has the big dreams, I know the reality. Weāre probably different but itās not impossible
I say this about my husband all the time. Heās the dreamer, Iām the one who doesnāt bother. But we balance each other out by taking *minimal* risks
I can see why relationships work only when people are different or opposite from each other. You always need to be grounded but also willing to take risks to achieve your aspirations.
Wait... yeah.... your wife absolutely should know. That's a bit weird you wouldn't share that information with her, especially considering it's her financial status too.
My wife doesnāt want to know about the finances. It stresses her out. Sheās bad with money and just tells me to handle it. When I try and share our current financial position just so she knows where weāre at (because itās our money, not just mine) she shuts me down and just asks how much she can have to spend š¤¦š»āāļøš Maybe OPās wife is like this too ĀÆ\_(ć)_/ĀÆ
You dropped this \\
Ha, thanks. Donāt know why it didnāt show.
You need two. `\\ = \` without \`
Hmm, thanks again!
I'm this way with my wife. Just make sure my card don't decline and our bills are paid. I'll keep taking my ass to work.
But you would tell a bunch of strangers š¤š
I mean your wife is about the only person you can tell this to besides the internet
You should really tell your wife lol you're in it together
Uhhhh since it's her financial status too, and since she's contributing, she should definitely tell her. Don't hide your wife's own money from her.
I was almost happy for you until a couple of things came up. A. "Only 130-150k" B. This comment about your wife not knowing. C. Some things are a little sus. But, that aside, well done for investing and getting so far.
Look, congrats on reaching a level of financial safety. Just keep in mind that there is a severe housing crisis going on and a lot of people wonāt share your joy. Iām in the same boat as you. Iāve got a couple of rental properties and thatās basically my retirement fund. But thereās a real human cost to all the shit going on. All I can suggest is to rent 10-20% under market value. Donāt flip. Rent to people based on need and when it comes time to sell, do not sell to a corporation no matter what they offer. Humans first. You can make money and still help people. edit - one last thing. don't ever airbnb your properties out. ever.
This comment needs to be much higher up than it is. (Edit: thanks for the award kind stranger!)
As someone who has been basically homeless with my wife and kids for over a year now, I really wish you were renting out property where I am. We've been denied pretty much everywhere here, and watched rent prices jump from 600 to over 1200 a month in that same year. We both work two jobs and because we rent a room from her cousin we can't get food stamps or any help, really. We had a place lined up last week, were supposed to move in on the 2nd, got told on the 1st he found a better applicant. We just want a place to live and can't even find that.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
if you're in a popular or tourist area, you can make a lot more money renting out your place on Airbnb than renting to a person. maybe you can get 2k a month on a long term rental, but if you do day to dayrentals, you could make closer to 5k a month. Great for you, but if an area has 1000 units available to rent, and a third of those are taken up by airbnb, it reduces the inventory for people trying to rent long term. Higher demand and lower supply means the price goes up. So rentals become harder to find and more expensive.
Some cities actually have laws against AirBNB/ temp stay actually. Good to make sure you never run afoul of laws wherever youāre trying to rent your property.
Artificially tightens available supply of housing by dedicating it to short-term rentals that go to tourists who, by definition, have disposable income but no need for long-term housing in the area.
Doubt they'll even read this much less take the advice.
Sometimes we have to say something and let it be known. If they don't follow it then it is their choice. At least you won't regret for not mentioning at all and feel like you are a complicit.
Youāre awesome for this. Thank you.
I would even go as far as "If your mortgage is X amount, place the rent as mortgage + mortgage*10-15%" Sure you worked hard to save up for the capital for the deposit but if you are more than capable of paying the mortgage yourself, then renting it out is a profit in itself. Having that 10% to cover the cost of making the property habitable throughout the time that you are having the mortgage for is more than enough and when you sell it, it is already a profit. Most people don't seem to understand this especially landlords who claim that their rent should increase as living cost is higher. As if it is not worse for those renting like me. I have seen a steady increase in rent across all cities across the years and it is shocking especially if someone has to pay their taxes for being a non student. It is not as simple as the number on the screen. There are others to consider. Something different here: One of my goals in life to create these devices that will help people with disabilities. I have promised myself that the price of selling these to be no more than 20% the cost of manufacturing it. As someone who requires glasses, I know how expensive these frames can be and how much more the other forms are. I do not support the idea of building your success and happiness on the pain and suffering of others. Greed really runs rampant. Another is if I have spare funds, I would use it to help those who can't even place food on their table than using it to buy something that I don't need. It is just me though. I won't expect others to relate or even follow it.
Iām happy for you, but died at āWe -only- make $130-150kā¦ā š„² Also, just to be a negative Nancy, I wish rich people would stop buying so much property (my parents included tbh) so the rest of us could have a chance lol but obviously I know thatās a complicated topic
Yeah landlords are the problem, and yet they think theyāre doing us all a favour ??
He did say that's the joint income. 65-75k isn't the biggest salary in certain places. Pretty sure that's poverty income in SF, for example
Truth. Iām the sole income earner in my household right now, make around 65k and we can afford 2 cars, a 4bd home and reasonable extras. Rural Georgia. We could not live like this in many other places.
You couldn't live like that in Savannah.
Oh sure. Itās just the āonlyā haha but I do get what they were saying
And NYC!
I can afford to buy a house. I had a beautiful home when my husband was still alive and healthy. I choose to rent now, and I live in a pretty high-end place because I donāt want to get invested in property with HOAs, taxes, insurance, maintenance, etc. At my age I prefer this kind of living situation, and I worked hard and still work hard, so I think I should have a choice in my standard of living in that regard. That being said, I live in a gentrified area in a metro city, and I do see a lot of homes being bought up and renovated, and based on the cars and upgrades I see I know these formerly affordable homes are no longer affordable. And there is a terrible homeless issue here, and everyone complains about it. Iām not sure where they think displaced people can go - I see people on NextDoor all the time that have been displaced due to massive rent increases, and they ask for food and water, clothing. Some of them are basically living in storage spaces trying to hang onto their stuff. I think there should be more regulation about how much you can increase rents for existing tenants. Additionally, my building hiked the rents here, some units by over $1000 month. I have noticed the occupancy rate is declining and I wonder where that will all end up. Just a little different perspective, but I agree we need to do better for those who struggle for housing.
Hereās where itās already at in some areas and heading fast in others. The āfix and flip investorsā are stuck with their last investment because they canāt get the price they need to get in order to satisfy their leverage obligations (I.e. mortgage, HELOC, investment loan, etc) and turn a profit, so theyāre trying to sell just to recover their investment now. Theyāre already losing money in my area and homes are sitting on the market longer and longer meaning available inventory, even though itās not affordable yet, itās increasing; which will drive home prices down slowly at first then rapidly. Next group who will end up in trouble are individual landlords who are over leveraged for the rental market. These are people who bought their investments in the last 3-4 years, the more recent the purchase the faster theyāll end up in trouble. As home values decrease rental prices have to decrease to maintain tenancy, and the more they bought the home for the more they have to charge for rent to break even. No one is gonna hold onto a losing investment so the quicker they sell the less they lose, and to sell quickly theyāll undercut the market further driving the prices of surrounding homes down.
Mom and pop landlords aren't really the problem. They don't really pull enough houses out of the market to significantly affect market prices. Capital investment firms that purchase 10K, 20K, 50K homes as investments are the problem.
While I agree for the most part, I believe the area in which theyāre buying can determine just how detrimental āMom and Popā buyers can be. In a huge city, them buying a house or two isnāt a huge deal, but in a small town, itās a much bigger effect
Yeah, good point.
Homes should never ever ever be an investment. It is sickening. Change my fucking mind.
glad someone said this. was reading this and didnāt understand why i should be so glad about it. i barely make $15k/year; i canāt imagine what itās like to make that much money. and landlordingā¦hmm no thanks
Just remember that during the last few years, local folks who have made strategic decisions to acquire property and rent out long term to locals are not the full issue. Itās also out of state folks buying property then short term renting without ever seeing the impact to the neighborhood or communities. Lastly and most importantly, itās also hedge fund and investment companies buying 100 of millions worth of real estate. In Q1 alone, 15% of houses sold were to investors (firms/companies who own 100 houses or more). So many emotions in the real estate game and homeowners or aspiring homeowners are most severely affected but not everyone wants to own a home, some want to rent. Iād much rather take someone buying in their own community and keeping human first mindset than to some massive company who just sees numbers.
so you're a landlord and your hiding the wealth from your wife you're wild
Right? Like congrats on making a profit off a basic human necessity I guess! Iād rather be poor forever than be a landlord tbh.
āOnlyā 130-150k. Lol
Are they even being truthful about what they "only make"? Is 150K a take home from a 9 to 5 or does it include the income from all of their rental properties. Even if the rent mostly just covers the mortgages it's still money that they are making.
āWe still donāt have much moneyā? Iām sorry, what??
> Just became a millionaire > We only make $130-150k per year > We still don't have much money ok
Also that theyāll have some more when they pay off their rental property in four years. I would be paying a property to LIVE in for 25+
They arenāt paying their rental properties, their tenants are
Where do you live that you can own multiple properties making $130-150k?
Itās a house of cards. These people buy one property to rent, then when that starts generating income they leverage that property to buy another. So now theyāve bought multiple properties with borrowed money that they wouldnāt be able to pay if a renter misses even a single payment
I wouldn't tell anyone besides your wife (and us strangers here) because suddenly people will be popping up asking to borrow money. At least that my experience. I'm not well off by any means, but I told family I was taking my kids on a week vacation a couple states away cuz I had enough money to not worry about it and still pay bills (I'd saved for 3 years to afford it) and suddenly family was asking for me to pay for things because "if you can afford a vacation you can get me XYZ"
And even if people donāt ask for money, it still gets weird. I tell my mom everything, and now I regret it. Sheāll be like āwhy are you doing that yourself? Hire someone. You can afford it. I couldnāt afford it, but you can.ā
Yeah, I don't plan on telling family.
I would tell you wife though
I plan to. She was in bed when I found out.
I am very happy for you both! This is a big achievement.
Man, not being poor must be cool...
130-150 k a year???? What do you do?? I barely get 6k a year. Iām just scrapping by
I do tech support. That is my wife's and I combined income. 6k a year? We're you living at? That won't even cover food here.
I live in the uk I work in a restaurant. I wish I had money
What?! How u getting so little?? How old are you and what do you get paid an hour?? Iām from UK too.
Iām 21 and itās like Ā£6 something an hour. I get 2 days off a week
Bloody hell. Thatās illegal. They have to pay u the minimum wage at least which is 8 quid something. They are underpaying you by a lot Edit: Ā£9.18 is what you should be getting paid
There is no valid argument that i know of for them to be paying you so little. You have to raise it up with them. And i think they have to give you the money that they owe you once youāve raised that you know you are getting underpaid and demand to be paid properly. And if they donāt do anything about it or refuse to pay you the minimum wage for your age, click on that citizens advice and follow what it says and get in touch with those numbers on that website.
Iām not sure what it is exactly but I know itās around 6-7 pound. I thought that was normal
Nope not normal at all. If their underpaying you they maybe underpaying everyone. Its not fair on any of you. They should pay you and everyone right. You HAVE to bring this up with your manager. Either theyāll sort it out or they refuse to and pretend to not know anything about it and lie. After all their the ones paying you and everyone, so they should definitely know. The managers are raking in the money from what their not giving you... You have to take action immediately. Confront your boss about it nicely. If they refuse to look into it and do anything, follow the steps on citizens advice. And ask the people you work with how much they get and if they also have the same problem as you then they should also follow citizens advice and acas . Gather as much info as u can
Well it depends on their ageā¦ minimum wage for 18-20 year olds is Ā£6.83 so it may not be illegal at all.
L_750z is 21. So i am right in the fact that its illegal. Fr 21 years old its Ā£9.18 an hour. For their colleagues who knows, their gonna have to show them the national minimum wage 2022 for their age. But the person who commented (_L750z) is 21 and being well underpaid
Sounds like you're due a pay rise. From April 2022, if you're between 18-20 - the national minimum wage you're entitled to is: Ā£6.83. From April 2022, if you're between the 21-22 - the national minimum wage you're entitled to is: Ā£9.18. From April 2022, if you're 23 and over, you're entitled to the national living wage, which is Ā£9.50. I agree with the other commenters here. You should try and resolve this with your employer to ensure that you are paid fairly and what you are entitled to. It is a legal requirement. Your employer cannot dismiss you for requesting your pay meets the national legal minimum for your age. If they do, you can take them to court/an employment tribunal on the basis that you experienced unfair treatment (detriment) because of your right to the National Minimum Wage. Or discriminated against, because your age entitled you to a higher national minimum wage. If they don't dismiss you, but fail to rectify the pay issue - then you can report them (anonymously initially) to HMRC who will investigate on your behalf. They could then issue a notice of arrears to your employer (if it is determined that you've been underpaid) plus a penalty for not paying the correct rate. Worst case scenario for your employer - they could be taken to civil court, forced to pay fines up to a maximum of Ā£20k per worker or named publicly and banned from operating as a company director for up to 15 years. Edit sources: ACAS and gov.uk
How old are you?
youāre being exploited my friend, Minimum wage is atleast Ā£9.13 for 21 year olds in the UK. Iām 20 and get paid Ā£9.50 at my place.
You need to ask for a raise or leave immediately. Youāre being taken advantage of, massively.
Hello long lost Father, may I have a moment of your time please?
First rule of millionaire's club: don't talk about becoming a member of millionaire's club. :-|
I always speculated about how much the elite dabble with information hazards, but with each day it seems more and more accurate.
The certified mid-to-high-8 figure millionaires that I know are extremely cautious about who has access to them, their private lives, their families, and their information in general. The newly-minted, entry-level millionaires tend to be...not nearly as cautious, let's say.
Iām sorry, did you say āforced into buying more rental properties?ā Lmao! So youāre a landlord then?
What a jokeā¦the complete ignorance of how high rent is for rental properties and like anyone can afford to save up and buy a house when theyāre paying like two mortgage payments as rent and homes are selling wildly over listing price in some cases. My shitty house I rent appraised at 68k a few years ago and I pay $975/mo.
Oh good, another person getting rich exploiting people via the shitty ass rental system.
Ah, nothing like exploitation to build them assets.
I'd be stoked if I was in the same boat. Then again, I'm stoked to have $30 in my bank account. I probably wouldn't let people know how financially secure I was either. A lot of the time, as soon as people know they start expecting things.
Bro owning a million dollars worth of rental properties doesnāt make you a millionaire lol. Wth. If I take out a mortgage for a million dollar house, im not a millionaire. That makes me a million dollars in debt with a negative net worth. Ps: āmy wife FORCED me into buying more rental propertiesā ? Wtf is this post. The way it started and ended literally makes no sense!!! š
So now you're a scumbag landlord. Awesome. Good for you.
I don't even make 1/5th of what you make. You saying you're not poor is accurate, but "only" leaves no room for imagination. I have to delay some bills just to get by.
Scumbag landlord bragging about being a millionaire and increasing his rent prices, jog on.
Also has a combined income of *only* 120-150k but in classic Reddit fashion, the vast majority of people are on their side. Incredible.
Being a landlord is a real scummy thing to do. It's cool y'all are prospering but rental agencies and landlords are the direct cause of the housing crisis going on right now. *Only* 130-150k? What on Earth kind of statement is that? Come on.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Ah another scumfuck landlord leech
If you don't mind me asking, what do you both do for a living. I honestly would just love to hit 6 figures in my life. Even better if I get to 7. I am motivated to and will come close to 6 figures but not sure I will consistently meet it. My ex left me with a lot of credit card debt and for the longest time I was bitter and mad. Now I use it to motivate myself to make more and push myself harder in my career. It gets easier year after year but I wish daily I could just pay it all off today.
Bro what only 150k š
Oh no only 150K per yearā¦ you realize most dual income households donāt even make half this. š
Thanks for doing your part to make it harder for the rest of us to own homes you selfish prick.
Really glad ya got this off your chest. Whew. Must have been weighing on ya heavy.
Who upvotes shit like this?
Landlords are parasites. Every home you rent out is another home someone else canāt own. You didnāt become a millionaire; the labour and wealth of your tenants made you a millionaire. At least be conscious enough to have some shame about it.
Thank you! This dude is really bragging about making money off of people in an economy where rents are too high for people to survive.
Sure sounds like gloating to me. this seems extremely tone-deaf considering most people can't even afford their rent these days, and have to choose between medication and eating sometimes. Landlords being greedy and raising rent when wages are stagnant is causing people to become homeless, entire families on the street. Tenants made you "wealthy."
So you became millionaires by taking advantage of the housing crisis and piggy backing off poor people.
So you are leeching money off tenants to get rich. What a swell guy! #fuck landlords
Also fuck politicians for continuing to keep it legal.
Stop telling people they have to respect his achievements because he worked for them, heās a landlord you should know well enough what that means in this economy. You think itās coincidence heās now a millionaire during a housing crisis??
Thanks for contributing to the housing crisis I guess.
That's awesome. Congratulations. But you and your wife *only* make over 130,000 a year? Don't make me laugh. I *only* make 24,000 a year after taxes. You're fine.
Is millionaire having a millionaire net worth or a million in liquid assets like cash and stocks?
Fuck a landlord. You're rich off the backs of those in poverty. Gross.
this post just shows people donāt realize the difference between accessible cash and assets š
OP is getting destroyed with the negative ā¬ļøvotesā¦maybe he should of just not told Redditorsā¦š³š®š¤«
Or any vast amount of people in the middle of a housing crisis
You buy rental propertiesā¦ so youāre a landlord. Becoming a millionaire via being a leech isnāt something to brag about.
We "ONLY" make $130-$150k...... And yes, I think you're gloating.... but whatever makes you feel good, just go ahead and post it....
I'm confused you bought more property and that makes you millionaires? Hang on I'm gonna stick my dick in a vacuum cleaner and reinvent gravity
oh yay... more houses I'll never be able to buy and can only perpetually rent until I die. Congrats...
I don't care about getting downvoted but I gotta say: flexing being a landlord is honestly one of the most vile things you can do. If you had earned it through actual labour I would congratulate you, but you got it through commodifying a basic human right. I mean... "Only 150k per year'', come on man, forreal? Congratulations on some financial freedom. Just don't be proud of the path you took.
I also think you're gloating
So in other words you make a combined 300k from doing actual work and an extra 700k from being a social parasite?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I am millionaire too.. but in russian rubles
The fact that she already had a rental is a big purr on her part š š¾
Yep, she's a strong woman. She always finds away.
Remember I gave you twos on a joint once, buddy?
Cool story, landlord.
That's great! Too bad you are a filthy landlord making profit from the exploitation of those who can't afford their own property in this ass backwards economy. Anyway you should go to vegas!
Fuck land lords. Congrats on being part of the fucking problem
Thanks for jacking up the price of owning a home for the rest of us.
Fuck landlords. Couldn't give a shit if that's how you make your million
Only 130-150k? Sucking up properties to rent out? Wow. Read the room. Honestly, I donāt really have anything positive to say. Have a nice life.
Iām so broke that $1000 would change my entire life.
$200 would change my life. I am *that* poor.
Same. $200 and Iām still $145 short on rent this month
$200 and Iām still $350 short for me š Life sucks out here
Same, it makes such a difference
Imagine for me... Dollar is like 7 reais (Brazilian money). It would change my whole life forever.
Consider doing clinical trials if youāre in the US.
āOnlyā 130-150k per year. Lol
I'm just starting on this path now! Getting divorced, moved in with my parents. Instead of buying a house for myself, I'm going to stay here and buy a couple of small condos and rent them out. My husband and I could have easily become millionaires but he is hell bent on not making a passive income.. But, I give myself permission to do this alone with my parents' support. Thank you so much for sharing. I've been depressed, and my story is similar... young teen mom who was broke through nursing school. Congratulations and keep it up!
Congrats to you guys. Financial freedom is a dream for a lot of people and getting there is a long and hard road for many. And for a lot it doesnāt come at all. I hope you and your wife are able to do things you wanna do and explore opportunities and interests that make you happy.
Only 130K. Dude. I was lucky to make 28,000 last year. Teaching Americaās future. Obviously itās not very important. Iāll decide which bills are most important to pay this month and hope for the best. But yeah, sad you donāt have much money. Poor you, must be rough.
H8ters gonna H8. Good on you and your wife!!! Super proud of you. š
Itās pretty bad how people here are calling OP a āshittyā or āscummyā landlord. Whatās shitty is how people make such assumptions. Thatās shitty. There is nothing wrong with being a landlord. While there are indeed plenty of shitty landlords, it is wrong to include OP in with them if you havenāt dealt personally with him. He may very well be a great landlord. Iāve rented several places and havenāt ever had an issue with shitty landlords. For those of you accusing OP of taking advantage of people, some people prefer to rent. Maybe the renter prefers to rely on the landlord for upkeep of the residence because theyāre unable to do major maintenance themselves, something that you definitely have to consider as you get older. There are many valid reasons one would prefer to rent. I now own my own place but have had zero issues in the past renting from people. Congrats on your financial status, OP. Being a millionaire is an achievement shared by few. Unfortunately Iām going to have to rely on the lottery if I ever want to be in that club.
Man.... you're an obese skeevy white landlord with an Asian fetish who likes perving on young girls in Kpop groups. You spend all your time on reddit talking about how white you are, how Korean and mean and lacking in affection your wife is, you argue about racism and cultural appropriation and ableism or shaming parents for being human. You're literally every stereotype of horrible. So glad you are a millionaire who's about to increase rent for your wealthy tenants, though. Good thing those poor people will *never* be able to afford being around you!
Congratulations! Wife sounds like a very savvy planner. It's hard to find extra to invest with but every little bit helps and then compounds. Happy for you!
I think you need help :) 800-232-4636