Hoang Pham

@noahkagan One thing to remember is that real estate is often purchased with borrowed money, like a mortgage. This can make it more profitable because people are willing to take on extra risk, which they don't usually do when they invest passively in the stock market.

I will lose $55,000 this year on Real Estate. But if you see the twitter bros here talk about their airbnbs, storage units or real estate you’d imagine - buy real estate and passive income falls from the sky. So how am I losing it, what does it mean for you and what can you do about it? Last month my HOA did a special assessment to improve the roof for $12,000 per unit, I own 3 of them. Ouch - not great when I barely make $750 a month per unit. Then you have to add on the costs of property taxes which have been rising and tenants constantly having requests (toilet issues, garbage disposal, fan not working, etc…). In addition my units were empty for 3 months of the year. (I did try to sell them but had no buyers). I wanted to share details since there’s such a fantasy a) landlords always get rich b) real estate is a great investment c) real estate is passive income. There MAY be a reason all the twitter real estate bros do many other ventures and sell courses… 🤔 “BUT Noah - you’re talking cash flow what about appreciation.” Thanks for asking! So my condos were $366,000 that I bought around 2015 and ONLY cause of Covid they are “worth” around $515,000. Yay I made $150k. Don’t forget to subtract 20% for capital gains and 6% for realtor fees. Sounds great until realize a) they condos didn’t actually sell when I listed them on the market for that much b) it took nearly 8 years to get $150k and c) if I would have taken that same downpayment of $60k - put it into the market 8 years ago it would be at least $148,557.79 today. Plus - the stock market is liquid (meaning I can get my money NOW) and there’s 0 overhead cost of dealing with AC repairs, tenants, etc… So what does that mean for everyone? 1- Real estate CAN be very profitable for people with fixed income jobs 2- 👉Entrepreneurship has WAY better upside AND lower costs 👈 3- Anyone can do real estate. Think about things you have a COMPETITIVE advantage in. 4- Don’t believe the numbers and ease of people claiming get rich quick. What’s in it for them? 5- Opportunity cost. If you’re going to spend 40 hours finding a rental property and dealing with it - what other investments or businesses could you start instead?

@levelsio Did you DCA bitcoin a couple of years ago when you announced that? And if yes, how did that work out for you?

Delete your day trading app Hit the gym Buy ETFs Thank me in 20 years

@flowyourmoney Depositing by bank transfer that is.

@flowyourmoney I believe depositing requires the contra bank account. But now they also have iDeal.

1) After my income comes in, I use salary splitter to pay myself first and make sure I've filled up my budget jars to invest, pay bills and pay myself. Pretty standard.

@flowyourmoney Hope the feedback is useful btw :)

@flowyourmoney Ah I haven’t tried topping it up with another account. I know with Binck Forward it’s not possible. Nonetheless, if it’s an issue with one of the investment platform I’d use, having a uniform Flow to manage this is a bit hard.

@flowyourmoney So with DEGIRO you can actually add another IBAN. But for other platforms, that's not always the case. For example Meesman and Brand New Day, you'd have you change your IBAN.

@Hoangspham Do your investment-accounts only accept top ups from your payout account?

@flowyourmoney Another case where it's a bit of a pain is for all bills I have in place already through automatic collection through my main IBAN. It would be a pain to switch the payment to a different IBAN, whereas I just want to make sure that I have enough budgeted to pay that bill.

@flowyourmoney I agree, in some cases, using IBAN enabled accounts would be more useful. Though in some cases, I think it'd be challenging. E.g. If I invest through multiple platforms and I want to top it up, I need to use my main IBAN, because that one is associated to my payout account.

3) This way, I'd be able to put money aside in a separate bucket (one that doesn't have its own IBAN), and automatically subtract from that bucket, once bills are paid.

2) Though what would make it interesting is once for example my bill is paid, I create a flow to move money from my budgeted jar account back to my main account: When money is subtracted with keyword "hypotheek" on "main account", Send €xx from "bills" account to "main account".

Congrats ⁦@adriaanmol⁩ & team @ Mollie. Exceptional founder who build his own payment solution in his parents’ house. Will ⁦@messagebird⁩ be next? Mollie raises $106M at $1B+ valuation | ⁦@TechCrunch⁩ techcrunch.com/2020/09/07/dut…

I often skip tutorial videos of new tools I use, but with @roamresearch I think it’s crucial to know all the shortcuts to adapt quickly to the new way of personal knowledge management. I think these videos are crucial to the onboarding process.

I’m considering to start from scratch instead of attempting to migrate all or my previous notes though. Maybe except for my todoist categories.

Inspired me to try @roamresearch

@Jason So like a poker ELO

request for startup (does this exist?): a private poker app that my friends and i can play on for "points" (aka bragging rights). i.e. we don't need to do any payments in the app, just play cards and keep a record of the "points"

@Rygu @egg_descrambler I meant more a startup in the Netherlands 😛 regarding the free food, healtcare and shelter.