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i didn't buy the property for the houses it just so happened to have 2 houses and tenants. Was going to demo them but i got a hard reminder on just one reason why real estate sucks so bad

Lighthouse 11mo ago

Exactly my thoughts (I'm a carpenter and wanted to buy houses)

Absolute disaster. Houses were built in the 70s. Next fun project is the asbestos abatement and demolition.

Lighthouse 11mo ago

Demolition. Lol. What a waste man I feel for you 🫂 not too late too sell it back

Haha it's a great lot with great proximity to my kids school. I think it's worth it but it's gonna probably take 2-3 years before we can move onto the property

Lighthouse 11mo ago

I'm sure your wife is like wtf did you get yourself into 😳😅🤣 it'll be okay. We believe in you 🥹

yaazer 11mo ago

As a former landlord .... can confirm.

People are unpredictable.

Had tenants for 6 years, totally amicable relationship.

chose to sell the house and gave the tenants 12 MONTHS of notice.

Tenants squandered all that time and then at 90 days feigned ignorance.

Relationship went sour.

Tenants destroyed the house.

Buy bitcoin.

Damn that sucks. I literally told one tenant they can have one of the houses if they want to pay to have it moved. Fortunately i don't care if they destroy the homes as they're going to be demo'd.

I did have a condo though about 12 years ago i rented. Competely renovated it, got some tenants in and not only did they do stupid shit like smoke in the house they completely ruined the upstairs carpet by ashing on the floor. Some people are absolutely animals

yaazer 11mo ago

Yeah man.

My tenants decided to let their cats piss and shit all over the floor and not clean it up.

It was a biohazard.

And they lived in it...

Probably had parasites in their brains by the end.

Some people just don't know how to be functioning members of society.

Unbelievable. I can't even imagine

yaazer 11mo ago

I discovered what I was capable of enduring throughout all of that.

That's a real.... character builder.

I'l keep saying this regardless of how unpopular it is over here: Bitcoin is a perfect store of wealth. But it doesn't produce income. Real estate does and it can even be a self-sustained positive cash flow -- it's just that it comes with the inevitable risk associated to any sort of profit, as you're experiencing.

So it depends what you want to do with that money you're spending: keep it protected but not growing, or risk some of it trying to create a positive cash flow.

"Just buy Bitcoin" is not good advice in the void.

To each his own. I'm not built for real estate investing or managing tenants. Some people play the game smarter then others. For me, it's bitcoin and chill.

Two properties are going to be painful with all of that stuff. 10 times that puts you at a scale that would allow all of these little repairs to come through each month without really impacting your revenue by a large percent. Once your portfolio is stabilized life gets better at volume. However, you are 100% correct. If that’s not the type of business you want to run, now you don’t have to. Bitcoin offers the good features without the bad features. But no income. Alternatively if you do want to grow your wealth with a real estate portfolio, coupling it with bitcoin creates tremendous advantage. Leverage your properties to 80% with 60% being asset debt and 20% a purchase of bitcoin that is coupled with the portfolio and you start to have a magic formula for growth. Being able to do this of course depends on your starting cash position and your purchase prices. Can be hard to pull off, but with focus on that frame, you only do the deals that allow it, and that growth can make a difference in your trajectory.

But see my first above comment on the “income“ category. You’re going to see gains that far surpass any property income (cap rate) for the next 5 to 10 years. With none of the headaches.

But how do you pay your bills by just holding BTC?

In my world, you don’t. Here’s what I told myself:

Focus on revenue. Look away from the bitcoin you buy with it. If you have access to an asset that will safely leverage and pay its own way down (real estate), then lever it, in today’s cheaper-tomorrow fiat. Then buy and hold bitcoin with those funds at today’s more-expensive-tomorrow prices. Hold that while your asset pays itself down. If this model is out of reach, then you’re in the classic model. Earn as much as you can. Spend as little as you can. Buy Bitcoin with everything you can. That is your 401k and your social security that can’t be fucked with by anyone while you’re focused on earning in your job or business ventures or both.

OK then, yes, that was my point too.

This is my take. The growth opportunity right now is different in a decade. Right now, it’s effectively delivering income because of the added growth. When adoption rate stops mattering. It’ll level. If inflation slows, it’ll stabilize further. As supply and demand start to neutralize it’ll slow. You’re right that bitcoin is not a business that creates income. Real estate is a business that creates income. But most people that own real estate don’t want to be in that business, and just do that because there’s nothing better to preserve the value of their savings and long-term wealth accumulation. Bitcoin is an alternative to that. But it’s not an alternative to running a business that creates income. Do both. Bitcoin is definitely lower maintenance than a real estate portfolio.

Fully agree with all your points.