Getbiggers - Uncertain Times - Get off the couch and increase net worth

[Vince G, CSN MFT]

When did you first buy bitcoins?

I didnt buy them, I mined them with a rig I built back in 2011.  That's how you originally got them back in the day.  I actually have it in my closet at home minus the video cards and it would still mine but it would take 3 years to make even one day at this point.  Ran on Linux

[el numero uno]

The most obvious shots seem to be cleaning agents, and delivery businesses.

[Primemuscle]

A benefit of the shutdown has been not shopping, not needing to put gas in the car and just spending less than usual. I banked my stimulus check so it can earn interest. 

[ElPolloSalmonello]

There's lot's of people at home looking for something to do.

Good times if you have something to sell them - till they all run out of moolah.

[TheShape.]

My side hobby has been doing great and I’m still working my normal job. Other than the inconveniences, life is good.

[Primemuscle]

There's lot's of people at home looking for something to do.

Good times if you have something to sell them - till they all run out of moolah.

For some reason, I've lost interest in making unnecessary internet purchases lately. 

[pellius]

If you bought recently you'll probably be ok.  Many of the people I've been listening to said that the price should dip a little bit after the the "halvening" but then make some big gains.

I'm not an expert on bitcoin and I don't own any, but that's what I've been hearing.  I was thinking about buying some as kind of a Hail Mary but I haven't pulled the trigger yet.

Right now I sacked my plans to buy a rental property and I've started to get more into tech stocks for long term growth and dividend stocks for long term passive income.

I feel like soon it will be time to make a bigger move but I haven't settled on exactly what I should do.  Kinda playing the waiting game to see how real estate reacts to all the chaos.

Rental property, real estate, always the best investment. I put in a few grand in BTC about a month ago and have just seen my overall balance go down. It took a real dive today. If I can ever get my $400+ back I'm bailing. It's way too volatile. It goes up and down by the second.

[pellius]

Let me know when so I can bid !

That's worth $850 easy.

[pellius]

You're way too late...should have jumped in when they were making fun of me years ago

You're right about that. I got wind of it when it was around $150 a coin. Even in this "down" market it's still well over $9,000. I would have made a killing. One guy I know became a multimillionaire just on BTC alone. How much was it going for when you got in?

[Pray_4_War]

Rental property, real estate, always the best investment. I put in a few grand in BTC about a month ago and have just seen my overall balance go down. It took a real dive today. If I can ever get my $400+ back I'm bailing. It's way too volatile. It goes up and down by the second.

3 or 4 months ago I would have said the same thing.  Real Estate was an idiot proof investment for long term wealth creation.  Then the stupid ass virus hit.  Now before I invest in another property I have to make sure I can afford the mortgage if my renters stop paying.  In my mind, the virus just increased the barrier to entry a bit.  I'm much less likely to take a risk now by over-leveraging myself.

[SOMEPARTS]

3 or 4 months ago I would have said the same thing.  Real Estate was an idiot proof investment for long term wealth creation.  Then the stupid ass virus hit.  Now before I invest in another property I have to make sure I can afford the mortgage if my renters stop paying.  In my mind, the virus just increased the barrier to entry a bit.  I'm much less likely to take a risk now by over-leveraging myself.

Yes, they have punished landlords of all levels in this thing. Commercial real estate will crash...just think if you had a holding company that specialized in restaurant properties?  Might be worth re-purposing commercial spaces into retirement centers.

As long as there is a politician willing to enact rent jubilee on the next calamity, single family renting is risk on.

The most important thing to me is being where I want to live with the stuff I want debt free....and owning some remote acreage. After that you can speculate with the bank's $$$. As long as they keep propping the market up there won't be a deal on anything anyway. No reason to risk your standard of living thinking you are getting in on a deal that really isn't one. I see a lot of people smarter and older than I am cashing out right now and I'm not taking it lightly. You can always get back in but some of these losses are life changing if you aren't aware of the atmosphere of demand destruction that we are in.

[OneMoreRep]

Positive cash flow on my rental properties; as long as my tenants pay on time things are good.  Been toying with the idea of building a rental cottage in my back yard (I have the space for it and some of my neighbors have them) https://www.coolhouseplans.com/house-plan-45187 but from construction to occupancy there are many ways this could go south.  I think I would be better off buying another rental property.  If, as I suspect, real estate dives over the next 12 months due to these unemployment numbers it will be a good time to buy another house.  If I do end up doing the cottage thing I would only rent to someone like a travel nurse.  For the most part they are vetted by their employer, their ability to pay is guaranteed, and best of all they are temporary; if I don’t like them they will be gone in a matter of weeks.

Best investment advice on this forum so far!

No matter how many times I've traded in the market or invested in it via Index Funds, no type of investment vehicle has proven more reliable than real estate. It is one of the best examples of making money work for you instead of trading your time for money. Invest your time in the things you love and value the most, due to its finite nature. Let your money work for you while you sleep. Any clients I have worked for over the years that had amassed wealth in the millions ALWAYS had a generous position in investment properties. The wealthier clients (wealth > $25 million), would invest in multiple commercial properties and would make astronomical amounts of money (cash flow) per month.

Bay, I would keep an eye out for Real Estate market trends carefully before pulling the trigger. Big banks are making mortgage lending requirements steeper for the average consumer. Requirements calling for credit scores in the 700+ range with a 10% or greater down payment will thin out the supply of buyers in the market. With less buyers, ergo less demand, prices will undoubtedly drop, making inventory ripe for your picking.

Happy investing dear friend!

"1"

[titusisback]

$20 is $20

[Teutonic Knight 1]

Rental property, real estate, always the best investment. I put in a few grand in BTC about a month ago and have just seen my overall balance go down. It took a real dive today. If I can ever get my $400+ back I'm bailing. It's way too volatile. It goes up and down by the second.

Hoping to rent my beach shack to "Pirates of the Caribbean 6" film mob again & make truckloads of coins 

[Teutonic Knight 1]

$20 is $20

& mineral gold is the real gold 

[JuicedKangaroo]

I've been importing and marking up PPE goods from China for our hospitals

Thin margins but high volumes! 

[Teutonic Knight 1]

I've been importing and marking up PPE goods from China for our hospitals

Thin margins but high volumes! 

(via Tassie ?) 

[Pray_4_War]

I've been importing and marking up PPE goods from China for our hospitals

Thin margins but high volumes! 

I wish I wasn't so lazy so I could start an internet business.  I just don't have the patience.

As far as gold is concerned, gold might preserve wealth better than currency, but gold still only has value because we have decided that it does.

[Coach is Back!]

For whatever reason our online sales of Joe Local had actually increased in the second month of the Plannedemic on almost all of our apparel. I did a dry run of Joe Local face coverings of 250 and they sold out the first week.

[Pray_4_War]

For whatever reason our online sales of Joe Local had actually increased in the second month of the Plannedemic on almost all of our apparel. I did a dry run of Joe Local face coverings of 250 and they sold out the first week.

How are you marketing the brand so people know about it?

[JustPlaneJane]

Hoping to rent my beach shack to "Pirates of the Caribbean 6" film mob again & make truckloads of coins 

Is that in Hawaii or Costa Rica ?

[JustPlaneJane]

Best investment advice on this forum so far!

No matter how many times I've traded in the market or invested in it via Index Funds, no type of investment vehicle has proven more reliable than real estate. It is one of the best examples of making money work for you instead of trading your time for money. Invest your time in the things you love and value the most, due to its finite nature. Let your money work for you while you sleep. Any clients I have worked for over the years that had amassed wealth in the millions ALWAYS had a generous position in investment properties. The wealthier clients (wealth > $25 million), would invest in multiple commercial properties and would make astronomical amounts of money (cash flow) per month.

Bay, I would keep an eye out for Real Estate market trends carefully before pulling the trigger. Big banks are making mortgage lending requirements steeper for the average consumer. Requirements calling for credit scores in the 700+ range with a 10% or greater down payment will thin out the supply of buyers in the market. With less buyers, ergo less demand, prices will undoubtedly drop, making inventory ripe for your picking.

Happy investing dear friend!

"1"

Aren’t you in New York?

I saw something on the news that said as many as 80% of the people in parts of NYC, including Manhattan, would default on their rent or mortgage this month. I think there is an expected exodus from the City to the suburbs of 7-10% this year. Home and rental prices in the suburbs should see a spike almost immediately.

Once the people leave the City, but up the best of the empty properties and wait for the cycle to reverse itself in a few years.

[Pray_4_War]

Aren’t you in New York?

I saw something on the news that said as many as 80% of the people in parts of NYC, including Manhattan, would default on their rent or mortgage this month. I think there is an expected exodus from the City to the suburbs of 7-10% this year. Home and rental prices in the suburbs should see a spike almost immediately.

Once the people leave the City, but up the best of the empty properties and wait for the cycle to reverse itself in a few years.

The exodus has been happening for a while but this virus is just going to accelerate it.  Democrats moving from the crowded oppressive hells that they created.  Flooding into more conservative areas, and then pissing all over them.  Eventually there will be no red states left to flee to.

[Teutonic Knight 1]

Is that in Hawaii or Costa Rica ?

A U S T R A L I A   

[oldtimer1]

Lost a lot of money in the stock market but I refuse to do anything different. Eventually Trump will win and the Blue state governors will have to let people get back to work realizing their plan to wreck the economy to hurt Trump failed. The stock market will go over 30 during his next four years.