Merry Xmas to you as well. To clarify, I have 30 units. A unit is a living area where one tenant stays. So a duplex is two units. A triplex is 3. A house is 1. Etc. I don't remember off the top of my head how many buildings it is..it's in the teens. 5 of them have conventional mortgages. I have some piddly little lines of credit as well.
But the rest are cash purchases. My overall leverage is 50% or less, since even the leveraged (mortgaged) ones required 25/30% down. It is not impossible, but ridiculously improbable to get 30 mortgages simultaneously or even temporally close to each other. You would have to go with a portfolio lender since you can only have ten conventional mortgages in your name. I don't know of any portfolio lenders that would do that for someone who didn't found Microsoft.
I'm not going to prove myself to each one of you individually on your terms. You can either accept Fisto's evaluation or keep thinking I'm fake. I judged him as a respected forum member of good character and sent him some things I wouldn't feel comfortable sending to randoms.
I'll answer those questions in a bit and make a data sheet within the next few days if everything keeps working well out here
12-25-2014 09:26 PM
redbeard
True Player
Posts: 2,807
Joined: Jan 2014
Reputation: 71
Killface and I have PM'd and it seems legit that he's got an oil job. For now.
That being said...this is a great example for newbies of what NOT to do. If OP would have posted around for a few months...gotten even just a FEW reps, and got his name out there, THEN dropped this, it would be a lot less fishy. But coming in hot with this new account and new thread...it's very suspicious.
so you put 500k into RE. 5 of them being convential mortgages, the rest being cash. for 30 units. minus your mortgages, you have 25 units at cash purchase. Without mortgages 25 units with 500k investment is 20k per piece. and you claim to pull in 5k profit per month. you buying trailers? is 5k per month your rent income and not actual profit? Looking forward to your data sheet, my skype offer still stands, I can vet you to the forum after a quick video chat as opposed to a pics which can easily be doctored.
God'll prolly have me on some real strict shit
No sleeping all day, no getting my dick licked
The OP seems to have accomplished some things that some people are very curious about and it looks like Fisto has done some vetting and I will trust Fisto's work for now. Ok, maybe the OP is asking questions that some think should be fairly obvious for a guy that has accomplished what he says he has but I can understand. I am sure we have come across people that can't do or understand something that is obvious to us. My concern is the constant doubting of him may drive away a resource that could help many people once he feels comfortable enough to share.
The internet always seems to bring out some aggression in people that might not show up in a face to face interaction. I think the OP has commented enough on certain things especially his comment about units (what a unit is) that he has some real estate investments. I think maybe the OP would share more down the road once he develops a degree of comfort.
He could have never shared what he did or what he has and just asked about ideal passive income and maybe the thread would have gone more the way he wants. "I have x dollars and want this much passive income per month." Sure some may have asked how he got it but he could have dodged sharing that info. A little reminiscent of little dark's thread but I sense the OP is a bit more credible than little dark and his 30 guy fight thread.
Merry Christmas everyone. Peace on Earth and good will toward men.
Fate whispers to the warrior, "You cannot withstand the storm." And the warrior whispers back, "I am the storm."
Women and children can be careless, but not men - Don Corleone
Fisto vouched for his bank statements, and I respect his word. The oil gig and bodybuilding data will come in time I'm sure.
The suspension of what you're currently believing is required in order to believe something new. Does it seem a little crazy that he was working $50K/yr jobs for 15 years and then had a spacerocket year and jumped into mad six figures? Yes. But I'm curious enough to suspend any skepticism to try and glean some lessons and insights from what he did do right.
Right now I see a lot of skeptics, driven by envy that someone else did well and lives the life you want to be living. Grow up.
I would love to read more details about your journey, Killface.
I don't know anything about real estate, but everything else is very possible with a lot of determination, discipline and some luck. And without limited believes, that many people tend to have...
12-25-2014 10:49 PM
Duke Castile
Innovative Casanova
Posts: 6,399
Joined: Nov 2010
Reputation: 209
Some of you guys are acting like complete bitches. This guy has clarified multiple times certain things and some of you continue to misstate what was said. Some of you are making stupid assumptions on top of misstating things.
A guy thats worked since 15 and has a 50k a year job will have good credit.
A guy thats never been anywhere will have questions about passive income needed around the world.
A guy that admits he seemed to get lucky with his campaign will also be willing to buy a bunch of real estate if he has the cash and is on a lucky streak. That move still may not pan out.
Some of you like that krt40 fag are just as ignorant about rent in top tier cities as you're claiming killface is.
You can get a damn nice apartment in west hollywood for around 2k.
You can get a damn nice place in most cities for 2k.
This guy admits he hasn't been around much and was guessing, which was also the purpose of his thread, to get an idea of how much he needs.
Its downright infuriating to read some of your remarks that smack of snarky bitchlike writing!
VVV you and antitrace (a guy who wrote about having a party bus and being a "celebrity" god dont make me laugh) are two guys that haven't contributed anything meaningful to this forum EVER and youre acting as if you're some established members that he needs to prove himself to.
This guy has gone out of his way to prove himself, has not given in to returning the shitty attitudes many of you are giving, and is willing to write about what he knows.
Nothing this guy has done is even close to impossible.
Some of you are crying about the real estate venture, well he never claimed to be an expert, he claimed he followed the advice on biggerpockets and that is in line with his story. It could end up a total blunder.
For fucks sake show some courtesy.
He's sent documents and been reasonable. Some of you assume that his whole story is bs because he's shown ignorance in certain areas but that's been the point of his thread, to clarify what he's working for.
I'll also remind you guys that I had zero experience in the oilfield and landed an MWD job and that was because I kicked the shit out of the guy who hired me in an MMA gym of all places. That's more unlikely than having a degree and showing aptitude in an interview.
We were meant for far more than to suffer in our self created prisons only to die alone. It doesn't have to be that way. It never did.
(This post was last modified: 12-26-2014 02:06 AM by Duke Castile.)
I thought he was real to begin with but I always tend to see the good side of people. Anyway how can you ever push yourself if you question and criticize anything/everything that sounds/looks like an amazing story. Hope you will post up some sort of data Killface or write out your life in detail I find it very interesting.
12-26-2014 01:51 AM
Switch
Wingman
Posts: 689
Joined: Aug 2013
Reputation: 9
I vote instead of trying to figure out whether or not Killface is real we get back to the question. It doesn't matter whether or not his story is true, his question is still an interesting one to answer regardless of whethef or not he made 500k affiliate marketing or has 30 properties of which 43.226% may or may not be leveraged. Hell we don't even know if gmanifesto is/was real doesn't mean we can't take his advice to change our lives, and it doesn't/didn't make his questions invalid.
So anyway, I would need passive income in tiers, contrary to what I posted earlier in the thread. Right now if I had 25k/ year I would be very happy. I would backpack around the world for about 2 years Niel Skywalker style. Then, I might do a few other short trips. I would spend time learning to surf, exploring the US, reading, expanding my mind, learning Spanish. That would last 2-4 years. Then I would want to increase total earnings (including active income) to 50-60k, and Roosh it in different cities for like 6 months at a time. Let that go on for 2-4 years, then I would really want to start stacking cash to move up into the 1% where I could enjoy an upperclass lifestyle almost anywhere except USA and Western Europe. 2-4 years and then I would want to increase passive/investment earnings to 500k+ to really hit the .1% big time in the top tier USA cities.
In SEA I would say 65-70k will have you leading top lifestyle. 110k in SA and EE, 200k in most of Western Europe and USA, and then 250k would be truly top lifestyle damn near everywhere. Certainly a lot less would be required. I could certainly learn to enjoy 15k/year in Thailand.
I'm with Fisto. Killface has given proof. This guy is either some kind of superman, or an expert big baller troll of the likes we've never seen. Either way, if there is even a 20% chance this guy is completely legit, I want to hear every single thing he has to say.
(12-26-2014 01:29 AM)Fisto Wrote: Some of you guys are acting like complete bitches. This guy has clarified multiple times certain things and some of you continue to misstate what was said. Some of you are making stupid assumptions on top of misstating things.
A guy thats worked since 15 and has a 50k a year job will have good credit.
A guy thats never been anywhere will have questions about passive income needed around the world.
A guy that admits he seemed to get lucky with his campaign will also be willing to buy a bunch of real estate if he has the cash and is on a lucky streak. That move still may not pan out.
Some of you like that krt40 fag are just as ignorant about rent in top tier cities as you're claiming killface is.
You can get a damn nice apartment in west hollywood for around 2k.
You can get a damn nice place in most cities for 2k.
This guy admits he hasn't been around much and was guessing, which was also the purpose of his thread, to get an idea of how much he needs.
Its downright infuriating to read some of your remarks that smack of snarky bitchlike writing!
VVV you and antitrace (a guy who wrote about having a party bus and being a "celebrity" god dont make me laugh) are two guys that haven't contributed anything meaningful to this forum EVER and youre acting as if you're some established members that he needs to prove himself to.
This guy has gone out of his way to prove himself, has not given in to returning the shitty attitudes many of you are giving, and is willing to write about what he knows.
Nothing this guy has done is even close to impossible.
Some of you are crying about the real estate venture, well he never claimed to be an expert, he claimed he followed the advice on biggerpockets and that is in line with his story. It could end up a total blunder.
For fucks sake show some courtesy.
He's sent documents and been reasonable. Some of you assume that his whole story is bs because he's shown ignorance in certain areas but that's been the point of his thread, to clarify what he's working for.
I'll also remind you guys that I had zero experience in the oilfield and landed an MWD job and that was because I kicked the shit out of the guy who hired me in an MMA gym of all places. That's more unlikely than having a degree and showing aptitude in an interview.
I dont know if you are a "fag", but i will call you "fag". I always said that his rent prices were completely bullshit in regards of NYC. Repeat after me, NYC, NYC, NYC!!
And when i say NYC , i mean, everything in manhattan south of west or east 96th, where a true superman and baller would live. Do you understand it now?
12-26-2014 04:53 AM
Duke Castile
Innovative Casanova
Posts: 6,399
Joined: Nov 2010
Reputation: 209
1) I have a friend who, after 10 years of making very little money, made £50million in 2 years. The business tailed off and he had no idea what to do with his money.
2) I had no idea, until a week ago, quite how ridiculously expensive London property is, despite family members living there and me thinking I knew about these things.
(12-26-2014 07:08 AM)CrashBangWallop Wrote: I have a friend who, after 10 years of making very little money, made £50million in 2 years. The business tailed off and he had no idea what to do with his money.
(12-26-2014 07:08 AM)CrashBangWallop Wrote: I have a friend who, after 10 years of making very little money, made £50million in 2 years. The business tailed off and he had no idea what to do with his money.
What was the business in?
"Me llaman el desaparecido
Que cuando llega ya se ha ido Volando vengo, volando voy
Deprisa deprisa a rumbo perdido"
(12-26-2014 01:29 AM)Fisto Wrote: Some of you guys are acting like complete bitches. This guy has clarified multiple times certain things and some of you continue to misstate what was said. Some of you are making stupid assumptions on top of misstating things.
A guy thats worked since 15 and has a 50k a year job will have good credit.
A guy thats never been anywhere will have questions about passive income needed around the world.
A guy that admits he seemed to get lucky with his campaign will also be willing to buy a bunch of real estate if he has the cash and is on a lucky streak. That move still may not pan out.
Some of you like that krt40 fag are just as ignorant about rent in top tier cities as you're claiming killface is.
You can get a damn nice apartment in west hollywood for around 2k.
You can get a damn nice place in most cities for 2k.
This guy admits he hasn't been around much and was guessing, which was also the purpose of his thread, to get an idea of how much he needs.
Its downright infuriating to read some of your remarks that smack of snarky bitchlike writing!
VVV you and antitrace (a guy who wrote about having a party bus and being a "celebrity" god dont make me laugh) are two guys that haven't contributed anything meaningful to this forum EVER and youre acting as if you're some established members that he needs to prove himself to.
This guy has gone out of his way to prove himself, has not given in to returning the shitty attitudes many of you are giving, and is willing to write about what he knows.
Nothing this guy has done is even close to impossible.
Some of you are crying about the real estate venture, well he never claimed to be an expert, he claimed he followed the advice on biggerpockets and that is in line with his story. It could end up a total blunder.
For fucks sake show some courtesy.
He's sent documents and been reasonable. Some of you assume that his whole story is bs because he's shown ignorance in certain areas but that's been the point of his thread, to clarify what he's working for.
I'll also remind you guys that I had zero experience in the oilfield and landed an MWD job and that was because I kicked the shit out of the guy who hired me in an MMA gym of all places. That's more unlikely than having a degree and showing aptitude in an interview.
Fair enough. I can see how I might come due for some criticism.
But I read your story Fisto, while you were doing it, and at no time did my BS detector go off. It all seemed completely credible and I never doubted you.
On the other hand, I can't shake the feeling that KF is taking the forum for a ride.
Maybe I'm wrong, maybe I have poor judgement or limiting beliefs (note, I don't think this, but as a reasonable person I acknowledge that my perception of myself is not objective) that have led me to view KF in this way. But something just doesn't feel right.
Ok, I'll shut up about it now, and work on making my own contributions to the forum, rather than worrying about some poster being potentially misleading or not. You guys figure it out. I'm out of this thread and not coming back. If a consensus emerges that KF is not full of it, PM me, and I will give him a rep point as I previously promised...I just don't feel convinced enough to do so now.
"Me llaman el desaparecido
Que cuando llega ya se ha ido Volando vengo, volando voy
Deprisa deprisa a rumbo perdido"
Too much time debating the messenger instead of the message/topic.
I´ve been thinking about this myself lately. I´ve bought 8 houses in the last two years. I already had one. So I have a total of 9 houses. With mortgages. In my country I believe you can live with 5000euros quiet well. If you´re single or even with two kids family.
I'm hoping its true, not because I would follow in his footsteps, I have no interested in the oil sands or IM, but because it would be an awesome story to read.
The story itself is plausible, but things just don't add up. A data sheet or a more detailed story would clear things up. I'll be looking forward to either.
God'll prolly have me on some real strict shit
No sleeping all day, no getting my dick licked
(12-26-2014 07:08 AM)CrashBangWallop Wrote: I have a friend who, after 10 years of making very little money, made £50million in 2 years. The business tailed off and he had no idea what to do with his money.
What was the business in?
To be honest both he and I could be identifiable if I answered that.
(12-25-2014 09:56 PM)peterthephoenix Wrote: Fisto vouched for his bank statements, and I respect his word. The oil gig and bodybuilding data will come in time I'm sure.
The suspension of what you're currently believing is required in order to believe something new. Does it seem a little crazy that he was working $50K/yr jobs for 15 years and then had a spacerocket year and jumped into mad six figures? Yes. But I'm curious enough to suspend any skepticism to try and glean some lessons and insights from what he did do right.
Right now I see a lot of skeptics, driven by envy that someone else did well and lives the life you want to be living. Grow up.
Answers and datasheet are still on their way, but I thought I'd post a really quick THANK YOU. That site rocks! It's exactly what I needed!
A couple takeaways:
Based on my current standard of living, which I like, I see that an acceptable living area to me costs half of what they have an apartment listed for in my home city. So, I'm basically going to cut all their apartment numbers in half when deciding if I can afford to live in a certain city. I also don't smoke or buy the absolute best seats for the theatre or alot of the other junk they listed, so honestly as I look at this, I'm becoming more and more optimistic that I can afford to live in most of these places right now, and ball out (by my standards) on 150k/pa.
Their listed rent in NYC is DOUBLE that of Chicago. I hate Chicago winters, but I consider Chicago to be an absolute world class city where I could indulge every whim, meet every type of woman, and never be bored...ever. Can anyone tell me why it's worth it to pay TWICE as much to live in NYC? Excuse my ignorance but is NYC that much better? If so, I can't even fathom what that would be like. Perhaps it is because people flock there for the job market, but if I am living on passive income that is not a concern.
I really think 150k in most of these places would definitely max out one's lifestyle...like someone said earlier...steak, scotch, and a cigar every night. I don't have tastes like this...I read, attend live music shows, go on dates to average places, and most of my hobbies are physical and outdoorsy. Honestly, I think I could do it now, but I am liking the adventure in the oil patch and will be sticking around for kicks.
I am hugely suspicious about this new guy BUT assuming hes telling the truth
Singe sucessful lifestyle in most major metropolitan cities (LA, SF, Chicago, SB, SD)- 150-200k/year. Pre-tax. Considering you have lots of real estate, your income will be mostly tax-shielded by deprecation and amortization write-offs. This works out to be about 8-10k/month clean. This is more than enough to have a sustainable life in those cities and have a cushion for unexpected events. You will be able to drive a nice car, live in nice digs, eat top-end food, and pop bottles once in a while.
NY is probably 50% more (speculating mostly).
Super expensive metropolitan areas like Tokyo will be about the same as major metropolitan cities
South East Asia will be about 8k/month (or 5k clean).
IF you are minimalist and don't mind living sparsely, these expenses can probably be cut in half. At the end of the day, where you live and how you want to live will have the biggest correlation on spending
WIA- For most of men, our time being masters of our own fate, kings in our own castles is short. Even those of us in the game will eventually succumb to ease of servitude rather than deal with the malaise of solitude
(This post was last modified: 12-26-2014 03:02 PM by DVY.)
(12-26-2014 02:59 PM)DVY Wrote: I am hugely suspicious about this new guy BUT assuming hes telling the truth
Singe sucessful lifestyle in most major metropolitan cities (LA, SF, Chicago, SB, SD)- 150-200k/year. Pre-tax. Considering you have lots of real estate, your income will be mostly tax-shielded by deprecation and amortization write-offs. This works out to be about 8-10k/month clean. This is more than enough to have a sustainable life in those cities and have a cushion for unexpected events. You will be able to drive a nice car, live in nice digs, eat top-end food, and pop bottles once in a while.
NY is probably 50% more (speculating mostly).
Super expensive metropolitan areas like Tokyo will be about the same as major metropolitan cities
South East Asia will be about 8k/month (or 5k clean).
IF you are minimalist and don't mind living sparsely, these expenses can probably be cut in half. At the end of the day, where you live and how you want to live will have the biggest correlation on spending
I am going to mention the tax aspect in the datasheet...very astute of you to mention that.
With real estate income, I do not pay FICA tax (social security, medicare, or self employment). Social security is normally 6.2% if employed, or 12.4% if you run your own active business, like internet marketing. Medicare is 1.45% or 2.9%, respectively. I maintain residency in a state with no state, city, or county income tax. That saves anywhere from what, 3-10%?
I also get to legally take advantage of massive deductions that significantly reduce my federal tax burden well below that of what a worker bee would pay. I looked into why the rich kept getting richer, and why Warren Buffett's marginal tax rate is lower than his secretary's, and I discovered that I wanted to be on the CAPITAL side instead of the LABOR side, since that is what the laws in this country are geared for.
If all this wasn't enough, I get to depreciate the value of my buildings, even though in reality the national average real estate APPRECIATION rate is 3.4% per year, or roughly in line with inflation (effectively 0). I get to deduct approximately 3% of their TOTAL value per year from my income. So say I owned a million bucks of real estate...that gives me a $30,000 tax deduction. This is enormous. You have to pay tax on the full value when you sell, but I do not plan to sell. And if I did, there are ways around it such as doing a 1031 exchange into a larger, more expensive building. You can effectively defer the taxes for eternity.
When I was a little kid I used to try to find ways to cheat at video games. I basically applied the same effort towards cheating at life. It paid off.
Home
RooshV.com
Search (Via Forum)
Member List
![[-]](images/collapse.gif)
The following 1 user Likes redbeard's post:
