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IBKR: Downside Protection + Massive Potential

IBKR: Downside Protection + Massive Potential
Rant:
Of late, there’s been too much low-quality, bullshit DD on here. I’ve come to rescue you from your own retardation—a formidable task, I might add. Fortunately, I’m not going to do it alone. I’ll be doing it with the help of Thomas Peterffy, a Hungarian refugee who revolutionized the brokerage industry, and in so doing went from penury to multi-billionaire-hood.
Peterffy is the founder of $IBKR, or Interactive Brokers Group, Inc. Here’s a description I definitely did not rip directly from CapitalIQ:
“Interactive Brokers operates as an automated electronic broker worldwide. It specializes in executing and clearing trades in securities, futures, foreign exchange instruments, bonds, and mutual funds. The company custodies and services accounts for hedge and mutual funds, registered investment advisors, proprietary trading groups, introducing brokers, and individual investors. In addition, it offers custody, prime brokerage, securities, and margin lending services. Further, the company provides electronic execution and clearing services. It serves institutional and individual customers through approximately 120 electronic exchanges and market centers. The company was founded in 1977 and is headquartered in Greenwich, Connecticut.”
Essentially, IBKR is inverse Robinhood. It has a shockingly bad user interface, is not designed to gamify investing, and does not have a retarded userbase. However, it does have better fills, better tech, a wider variety of options (both literal and figurative), more client AUM, etc. This is why you might not have heard of it. But rest assured, it’s a massive company; it is, essentially, the engine mobilizing much of the market machine.
I’m bullish for two main reasons:
  • Upcoming earnings (July 22nd) and July EOM numbers report
    • Comparable companies have shown huge growth (e.g. $VIRT in Q1, which reported three weeks after IBKR and caught more Covid-trading)
    • IBKR releases monthly KPIs, the last batch of which came out recently, validated the theories described herein, and sent us on an upwards trajectory
  • Momentum: this stock is an inverse POS, which recently tends to go up with SPY but not down
TL;DR: IBKR 8/21 $55 C, $60 C for higher risk
Business Pros:
  • High moat business with tons of IP
  • IBKR releases monthly metrics; these have been very strong as mentioned above:
    • 1,862 thousand Daily Average Revenue Trades (DARTs), 131% higher than prior year and 13% higher than prior month.
    • Ending client equity of $203.2 billion, 33% higher than prior year and 7% higher than prior month.
    • Ending client margin loan balances of $24.9 billion, 3% lower than prior year and 7% higher than prior month.
    • Ending client credit balances of $71.0 billion, including $3.1 billion in insured bank deposit sweeps, 30% higher than prior year and 1% higher than prior month.
    • 876,000 client accounts, 36% higher than prior year and 4% higher than prior month.
    • 487 annualized average cleared DARTs per client account.
  • IBKR makes most of its money from loans by acting as a quasi-bank
    • More total client AUM is very good for revenue (see third and second bullet from bottom above)
  • We’ve just seen banks with a focus on trading outperform, again emphasizing what a large role trading activity is playing in this market
  • IBKR also be seen tech company—but it’s not above its pre-Covid high unlike most
  • Serves as a volatility hedge, because volatility is profitable for the company (cheap IV)
    • This can be seen in part by it’s relatively low market correlation (B = .63)
    • Volatility will almost certainly increase as we enter earnings season
  • Great international focus
    • Recently opened an office in Singapore
    • 69% of their clients are outside the U.S. (international account growth rate at 23% vs 15% in US) which gives broader revenue base
  • Relatedly, the biggest opportunity driving Net Interest Margin (NIM) income is from key customer segments. There’s only around <0.5% of target asset market (TAM) penetrated in fields of global retail clients through intro brokers, financial advisors and hedge funds.
    • Peterffy has spoken to the idea that IBKR could capture more TAM and become a high multibagger long term by capturing more TAM.
  • Major holder of $TIGR, which has done extremely well
    • $IBKR netted over $1 billion so far off the $TIGR IPO, and the stock has been strong recently
  • 8% short float w/ high days to cover
    • Not really short-squeeze material, but somewhat squeeze-like conditions existent
      • Earnings could squeeze this, especially because management owns so much of the stock
  • Comparables like $VIRT have done super well; IBKR might not be as explosive but certainly should do better than it has been
  • Aligned interests:
    • “The CEO I admire most is Thomas Peterffy of Interactive Brokers. He came to the U.S. penniless and built a massive fortune and, more importantly, a great company. His is a story of innovation; he was one of the first to use computers for market making. Peterffy was smart enough to see the applications of technology to online brokerage, and brave enough to pursue what could effectively kill the market-making business— and he is a great executor. The business has profitably and steadily grown the account base, growing brokerage accounts by 15%+ per year like clockwork. Peterffy still personally owns over 70% of the company, and all but ten of the company’s approximately 1,400 employees own shares. He has built a company with the lowest costs and highest margins, a very long runway for growth, a history of execution, and a highly aligned team.”
  • CEO explicitly called it a “stay-at-home stock”
    • Trading volume was 3X normal and account openings were 4x normal back in April—more people have gotten into the game since then!
    • “Despite markets down about 9% year-on-year, our total client equity rose 9% to $161 billion, the second highest quarterly total in our history.”
      • The above is only from Q1
  • Momentum, momentum, momentum. Some of you need to learn that.
Business Risks:
  • They have fuckups, and recently got a ton of bad PR due to the oil contango fiasco!
  • Not the greatest customer service, certainly (does anyone really give a shit, though?)
  • Diverse customer base leaves it susceptible to geopolitical and geoeconomic risk
  • Stock was in a downtrend since 2018 before recent turnaround—who knows where momentum is now
  • The high (85%) percentage of shares owned by management means that shareholders are effectively a minority interest
    • To me, this is good, as it indicates a longer term focus, but it might not be good for short term results
  • Highly valued (possibly fundamentally overvalued) at a PE of 24.9x
  • Lower interest rates—which will remain for the foreseeable future—are a headwind
    • That being said, IBKR is less susceptible to them than other brokers
    • Interest rate risk is lessened as they adopt a relatively fixed net interest margin (NIM) spread.
      • Client balances receive 50bps below the Fed Funds rate, and excess cash is invested in repos & treasuries, while margin rates are typically 25bps – 150 bps above the Fed Funds, with rates depending on the size of margin.
  • Most major risks on the downside (refinance, credit risk, interest rate risks etc.) are limited. The main risk is that if they’ve already largely penetrated their TAM and are unable to drive success by broadening appeal to their other market segments valuation is overly rich at these levels.
  • This market is volatile, and IBKR is in no way immune to volatility in SPY. So you might want to hedge this play.
Summary:
Interactive Brokers (IBKR) is a tech-focused, low cost brokerage firm. It is also a quasi-bank, making money through interest on client assets. It benefits when:
  1. Interest rates increase
  2. When account signups increase (they have a paid Pro version); this is minor
  3. When total user AUM increases
  4. When DARTs volume increases
While interest rates have declined, IBKR is comparatively less susceptible than are its competitors. And for various reasons outlined above, we can rest assured items 2 through 4 will continue to rise dramatically. This should result in significant appreciation.
Is there room to run? Certainly. The ATH is $79.70, which also arrived after a period of volatility (remember, volatility is good for IBKR!). Of course, there’s a time-lag element to the results of volatility, which I map out below. We’re just getting into the good part now:
nut
For all of these reasons, I believe that Earnings + EOM KPI updates will pour gasoline on the recent fire. Or, as George Soros crustily uttered between denture fittings:
“You want to be long the things that are going up, and short the ones that are going down.”
TL;DR: IBKR 8/21 $55 C, $60 C for more risk/reward
Positions (wanted to let it run a bit before helping out you tardigrades):

https://preview.redd.it/32ru2d00i8b51.png?width=1416&format=png&auto=webp&s=0b592f1b956daa8f1dff04544f4bdb6a27e55d24
Disclaimer: not investment advice! do your own DD. I have a position, obviously. Do not yolo. Hedge your bets.
submitted by newguysofly to wallstreetbets [link] [comments]

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$WTER Alkaline Water Working With C. A. Fortune to help launch new CBD infused flavored water

SCOTTSDALE, Ariz., July 16, 2020 (GLOBE NEWSWIRE) -- The Alkaline Water Company Inc. (CSE:WTER) (the "Company"), a producer of bottled alkaline water, flavored-infused waters, and CBD-infused products sold under the brand names Alkaline88®, A88 Infused™, and A88CBD™, respectively. The Company today announced that its hemp-derived cannabidiol brand A88CBD™ is partnering with consumer brands agency, C.A. Fortune.
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With its connections to natural-focused distributors, including KeHE and UNFI, C.A. Fortune has the capabilities to leverage these relationships to bring A88CBD™ in stores' General Merchandise/Health and Beauty Care categories.
"A88CBD™'s products fit right into C.A. Fortune's capabilities of placing health and beauty care commodities in both natural and conventional retailers," said Wright. "C.A. Fortune has been a successful long-term partner for our core brand, Alkaline88®. Hence this partnership is a natural extension as we believe their robust capabilities will be an asset for our A88CBD™ product line as well. We are quickly emerging as a trusted lifestyle brand in the nascent CBD industry and expect this partnership to open up new retail opportunities for us."
A88CBD™ can currently be found in retailers nationwide, along with their namesake e-commerce shop www.A88CBD.com.
A88CBD™'s Topical Product Portfolio:
The Alkaline Water Company®: A88CBD™ Family of Products
About The Alkaline Water Company
Founded in 2012, The Alkaline Water Company (CSE:WTER) is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88®, is a leading premier alkaline water brand available in bulk and single-serve sizes along with eco-friendly aluminum packaging options. With its innovative, state-of-the-art proprietary electrolysis process, Alkaline88® delivers perfect 8.8 pH balanced alkaline drinking water with trace minerals and electrolytes and boasts our trademarked label ‘Clean Beverage.' Quickly being recognized as a growing lifestyle brand, Alkaline88® launched A88 Infused™ in 2019 to meet consumer demand for flavor-infused products. A88 Infused™ flavored water is available in seven unique all-natural flavors, with new flavors coming soon. Additionally, in 2020, the Company launched A88 Infused Beverage Division Inc., which includes the Company's CBD water and flavor-infused water. For the Company's topical and ingestible offerings, A88 Infused Products Inc. includes both the Company's lab-tested full-spectrum hemp salves, balms, lotions, essential oils, and bath salts, along with broad-spectrum hemp beverage shots, powder packs, oil tinctures, capsules, and gummies.
To purchase A88CBD™ products online, visit us at www.A88CBD.com. To learn more about The Alkaline Water Company, please visit www.thealkalinewaterco.com or connect with us on Facebook, Twitter, Instagram, or LinkedIn.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements." Statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the following: that C.A. Fortune has the capabilities to leverage its relationships to bring A88CBD™ in stores' General Merchandise/Health and Beauty Care categories; that the Company believes C.A. Fortune's robust capabilities will be an asset for the Company's A88CBD™ product line; and that the Company expects the partnership with C.A. Fortune to open up new retail opportunities for the Company.
The material assumptions supporting these forward-looking statements include, among others, that the demand for the Company's products will continue to significantly grow; that the past production capacity of the Company's co-packing facilities can be maintained or increased; that there will be increased production capacity through implementation of new production facilities, new co-packers and new technology; that there will be an increase in number of products available for sale to retailers and consumers; that there will be an expansion in geographical areas by national retailers carrying the Company's products; that there will be an expansion into new national and regional grocery retailers; that there will be an expansion into new e-commerce, home delivery, convenience, and healthy food channels; that there will not be interruptions on production of the Company's products; that there will not be a recall of products due to unintended contamination or other adverse events relating to the Company's products; and that the Company will be able to obtain additional capital to meet the Company's growing demand and satisfy the capital expenditure requirements needed to increase production and support sales activity. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, governmental regulations being implemented regarding the production and sale of alkaline water or any other products, including products containing hemp/CBD; the fact that consumers may not embrace and purchase any of the Company's CBD-infused products; the fact that the Company may not be permitted by the FDA or other regulatory authority to market or sell any of its CBD-infused products; additional competitors selling alkaline water and enhanced water products in bulk containers reducing the Company's sales; the fact that the Company does not own or operate any of its production facilities and that co-packers may not renew current agreements and/or not satisfy increased production quotas; the fact that the Company has a limited number of suppliers of its unique bulk bottles; the potential for supply-chain interruption due to factors beyond the Company's control; the fact that there may be a recall of products due to unintended contamination; the inherent uncertainties associated with operating as an early stage company; changes in customer demand and the fact that consumers may not embrace enhanced water products as expected or at all; the extent to which the Company is successful in gaining new long-term relationships with new retailers and retaining existing relationships with retailers; the Company's ability to raise the additional funding that it will need to continue to pursue its business, planned capital expansion and sales activity; and competition in the industry in which the Company operates and market conditions. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States and Canada. Although the Company believes that any beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Readers should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents the Company files with the SEC, available at www.sec.gov, and on the SEDAR, available at www.sedar.com.
The Alkaline Water Company Inc.
Richard A. Wright President and CEO, or
Sajid Daudi Director of Investor Relations & Corporate Communications 800-923-1910 [email protected]
Media
Jessica Starman 888-461-2233 [email protected]

C.A. Fortune Website
https://cafortune.com/

Alakaline Water Website
https://thealkalinewaterco.com/
submitted by Lookeydoo to pennystocks [link] [comments]

The Daily Autist 03/31/20 For The Autists, By An Autist

The Daily Autist

03/31/20

TLDR Of The News To Inform Your Moves
Dumb bulls and gay bears, welcome. Robinhood falsely gave me a PDT warning so I can’t buy or sell anything until it’s fixed. Until 04/03 I’m effectively just a spectator as I can’t close any position I open. My QQQ and SPY options will expire worthless when the market closes due to not being able to close after opening positions to sell later in the day yesterday. So get ready for a bitter one. (I know RH is shit, but everywhere else requires minimum balances or an arbitrary pass/fail determination so it is what it is)

WSB Summary

Y’all can look forward to this being on the news in a day or two, or even longer if he ends up going to court over it. If ever you want to get back at a shitty email, the best thing to do is post it to Reddit rather than reply bitterly.
My broker (Questrade) wants me to sign an NDA saying I won't talk shit about them after offering me $1200 USD as compensation for losing $50000 from outages : wallstreetbets
A meme sums up the end of last week and Monday better than any article.
All it takes is a printer to save the day : wallstreetbets
This gentleman will insert a beer in his ass if there’s a -10% day “anytime soon.” So roughly two weeks. What a total retard and I salute him.
I will butt chug a Corona if we see another -10% day anytime soon : wallstreetbets

Corona Dump

Nothing says “If you help with the pandemic you will be punished,” quite like going viral because of a difficult moment then having your house blow away.
https://www.cnn.com/2020/03/30/us/arkansas-tornado-destroys-doctors-home-trnd/index.htmlAMZN fired the worker who spoke out about their policies. I would say puts on AMZN but since bad news = good news last the last week amazon should break 2k again very soon.
https://www.cnbc.com/2020/03/30/amazon-fires-staten-island-coronavirus-strike-leader-chris-smalls.html
Sections of GE that is still open and making other random medical and electrical shit are striking to divert their energy to ventilators. Kudos to them fr. https://www.independent.co.uk/news/world/americas/coronavirus-general-electric-workers-ventilators-work-stoppage-labor-massachusetts-a9436881.html
It’s almost like having healthcare be a for-profit industry means people will try to profit off medical treatments. I hate this “now I'm woke but in 3 months I won’t be,” garbage people are doing for clicks.
https://www.propublica.org/article/taxpayers-paid-millions-to-design-a-low-cost-ventilator-for-a-pandemic-instead-the-company-is-selling-versions-of-it-overseas-
Killing our medical workers due to negligence and worry for the market. I recommend reading this when the market closes as it’s a little long and not related to the market other than warning things will continue to get worse rather than better for the near future stability wise.
https://www.medscape.com/viewarticle/927811?nlid=134774_3901&src=wnl_newsalrt_200330_MSCPEDIT&uac=24257DJ&impID=2329672&faf=1

Business/Finance

Now that Canada passed the extra stimulus for its citizens Air Canada laid off its employees. This is how it was supposed to work for the US. Still, a sign that if not artificially kept afloat by the government these airlines are fucked.
https://www.thestandard.com.hk/breaking-news/section/2/144720/Air-Canada-lays-off-16,500-staff-due-to-virus
Turns out the two most rapidly growing and advancing countries will continue to grow and advance while the rest of the world falls backward. 200 IQ play by China
https://m.economictimes.com/news/economy/indicators/world-economy-will-go-into-recession-with-likely-exception-of-india-china-united-nations/articleshow/74905696.cms
China is reopening manufacturing. They have enough people to let the virus do it’s thing and not care. They don’t have audited medical numbers. This is bad for short term puts.
https://www.reuters.com/article/us-china-economy-pmi-factory-official/china-factory-activity-unexpectedly-expands-but-economy-unable-to-shake-off-virus-shock-idUSKBN21I05S
USD continues to be king. What a time to be alive.
https://www.reuters.com/article/global-forex/forex-dollar-gains-yuan-steady-after-china-pmi-in-cautious-trade-idUSL4N2BO1NJ
Futures continue their bullish trend with another 1% gain overnight. Until there’s another manic day of 6%+ it’s looking the bulls are still in control in a stable manner.
https://www.foxbusiness.com/markets/stock-futures-trade-cautiously-higher-after-mondays-rally
Premarket 261-263 all morning. What is this boring stable shit? 261.93 at time of posting (06:50 EST)

NostraLosses Prediction:

Keep buying short term calls until there’s a significant signal otherwise. All the DD in the world gets wiped out by a heavy enough BRRRRRRRt. I got some far OTM calls to hedge my put bets Friday EOD and Monday and if it weren’t for the false PDT warning I would have almost made back the losses to be back to even. So try not to go full retard on the puts, and if you can afford it, don’t use Robinhood.

Post your thoughts, questions, complaints, compliments, and plays in the comments.

Edited for formatting errors due to importing from Grammarly.
submitted by AvocadosAreMeh to wallstreetbets2 [link] [comments]

[Discord RP Server] Game Of Thrones: Fall Of The Dragon

Looking for a good Game Of Thrones Role Play community with active admins and a non-toxic community? You've found just the place!
Game Of Thrones: Fall Of The Dragon is set 100 years after the books and the show. We are a community of literate Roleplayers who have spent the better parts of their life roleplaying and building communities and have had great success with this community for the last 11 months! We are fairly lenient when it comes to bios and will happily help you fit into our universe. Many houses have been claimed but we still have over 350 available houses that need to be claimed!
Your favorite house is claimed? Don't worry! We have Wanted-ads section where you can find if the house you are interested in is looking for more people brothers, sisters, men at arms, cousins, servants, etc
What we offer! ● 18+ Community ● Detailed story ● Great RP ● Active Admins ● Great Community ● Helpful staff ● Easy to learn ●Plenty of channels to RP in ● An option between RTK and PTK ● Battle, Travel, Skill, Raven, Economy(WIP) Systems ● Skill Sheet ● Constantly Updated Lists ● Events ● Wiki page
Up to date, Doc with all available houses and the ones that have been claimed can be found here - https://docs.google.com/spreadsheets/d/1jHvw-dpiXIQULDSqyq3pOBmAtSacW89KrPLNOS-iqJ8/edit?usp=sharing
Our wiki: https://fall-of-the-dragon.fandom.com/wiki/Fall_Of_The_Dragon_Wiki
Prologue:
After fifty years of peace, dark clouds appear over Westeros once more...Rumors spread that the King was on his death bed and with no heir, it seemed like this was be the end of the Targaryen bloodline. All the Lords of the Great Houses and their vassals were called on to come to King's Landing where a feast is was held and a tournament to keep the nobles busy during these dark days. However, things slowly turned awry...and for the first time in 100 years, no Dragon sits upon the Iron Throne.
Current Status of RP
Year 402
In the Westerlands and Crownlands, orderly chaos reigns, as King Tommen Lannister, Second of His Name ascends the Iron Throne. At his side is his new Hand, Master-at-Arms of the old Iron Throne, who amasses two great hosts at Crakehall and Bitterbridge to intervene in the quickly-deteriorating situation in the Reach. As Lords Paramount fail to answer his calls for oaths of fealty, as the Small Council quickly dissolves and his wife counsels him against intervening in the conflicts across the Reach, the Roaring Lion must find a way to keep the kingdoms of the Iron Throne in check after the mysterious disappearance of King Victor and his family.
In the Iron Islands, the Hand of the King lies rotting in a grave, his wife Leonetta Lannister and his twins taken hostage by King Egil Harlaw. As the banners of House Goodbrother fly above Faircastle, and the King sails south to meet with the rebel of the south, the question of who the Iron Empire will support lies over the heads of all. The Royal Fleet stolen once more, the captains and crews murdered and replaced with ironborn, truly none can stand against the Mad Scythe.
In the Stormlands, Lord Paramount Dykk Baratheon holds a war council at Stonehelm with his most trusted advisor and brother-in-law, Lord Denys Swann, leading the charge. His bannermen assemble, including Tarths, Trants, and most importantly House Dondarrion, the greatest threat to his reign. As riders from Stonehelm go in the night towards Riverrun and Sunspear, the plans of the Stag in the Storm remain to be seen.
In the Reach, the forces of Lords Hightower, Merryweather, and Ashford clash against Lord Tyrell, Lord Tarly, and their bannermen. Bandits and dragons rage across the lands, as the breadbasket of the Seven Kingdoms, burn, and the four great lords rise to fight. The Lord in the South, Leofric Hightower, commander of the rebels. The Lord in the North, Gareth Rowan, preparing to live up to the title of Marshall of the Northmarch and defend the northern Reach against the incoming Crown troops. The Lord in the East, Richard Tarly, lives up to his house's legacy and assembles one of the most professional armies in the Seven Kingdoms. And the Lord in the West, Lord Paramount Ryden Tyrell, raising more and more men to siege Oldtown. The entirety of Westeros seeks their eyes in on the growing conflict, the start of all the plots across the Seven Kingdoms. What remains to be seen is who will win the War of Rose and Tower, or whether one can truly say it is a regional war anymore, when it has spread across the lands of the Iron Throne and even into independent kingdoms.
In the North, the snows and winds of winter fly overhead, as words and politics fly beneath the Northmen. The Queen of the North must look down upon her realm as a child grows inside her, wondering whether to embark in the conflicts to the south or take care of the Wall, with the threat of King Nordoor and the insubordination of Brandon Nightstark, who is both Lord of the Wall and her dead sister's husband. As developments occur every day, with the Shadow Tower occupied by wildlings and an army of Northmen march towards the great wall of ice, the fate of the North in the upcoming conflicts remain unknown.
In Dorne, The High Prince of Dorne returns from the Vale, following a mysterious attempt to poison him, and having secured a full martial alliance with King Arryn. Suspicious of the Iron Throne and eager for retribution, the High Prince's return could set Dorne on a bloody path - as House Hightower looks to him for aid, and his alliances stand poised to shift and change: With the Isles, the Stormlands, and the North." When he returns, even his home will not be a place of peace. The Castellan, Draban Uller, locks horns with Commander Yronwood as both grapple for control in his absence - with House Uller brokering for diplomacy, and House Yronwood eager for war and bloodshed. The delicate balance of power in Dorne now hangs by a silken thread... Who yet knows whether it will be reinforced by what is to come, or severed?
In the Vale since the death of the last dragon, the Vale of Arryn has become an independent kingdom. A year ago the Arryn King’s brother was sent to the Iron Throne to discuss a peace treaty and he betrayed the Vale, telling them that Valemen would pour out of the bloody gate and burn the Riverlands. War was nearly brought to the doorstep of the new kingdom but averted through negotiation. The traitor flung himself from a skycell rather than face justice before his brother. Since that dreadful time, the Vale seemed largely stable. A grand tourney was hosted and shortly after, but High Steward (head advisor of the Arryn King) was ambushed on the road by painted dogs and slain. On the way home from the funeral another man has kidnapped the Arryn sister but the world has yet to discover this newest of events.
In the East, the Ghiscari Empire continues their rise back to the glory of their past. After successful conquests of the Qartheen merchant confederation, the Dothraki and their lands, and the consolidation of Slaver's Bay, the Ghiscari now turn west instead of east, to the Free Cities of Volantis and Tyrosh. As fleeing strangers arrive on burnt and misshapen boats in Westeros, pleading for their help in the conflict, the Westerosi must choose between fighting for power in the current political landscape of Westeros, or sailing east and leaving politics behind to seek glory, freedom, and to stop the Ghiscari from advancing any further.
In the far North in the lands that were once the forsaken frozen waste known as Lands of Always Winter, Lady Ericka Stark leads the fellowship into in the quest given to them by the last Three-Eyed Raven. The group's goal is to unravel the mystery that is The Mottled men and what is the danger that the Three-Eyed Raven had foreseen.
Can you profit in this chaos? Come and find out - > https://discordapp.com/invite/UnRZz65
submitted by LordKalmus to RoleplayingForReddit [link] [comments]

[Discord RP Server] Game Of Thrones: Fall Of The Dragon

Looking for a good Game Of Thrones Role Play community with active admins and a non-toxic community? You've found just the place!
Game Of Thrones: Fall Of The Dragon is set 100 years after the books and the show. We are a community of literate Roleplayers who have spent the better parts of their life roleplaying and building communities and have had great success with this community for the last 11 months! We are fairly lenient when it comes to bios and will happily help you fit into our universe. Many houses have been claimed but we still have over 350 available houses that need to be claimed!
Your favorite house is claimed? Don't worry! We have Wanted-ads section where you can find if the house you are interested in is looking for more people brothers, sisters, men at arms, cousins, servants, etc
What we offer! ● 18+ Community ● Detailed story ● Great RP ● Active Admins ● Great Community ● Helpful staff ● Easy to learn ●Plenty of channels to RP in ● An option between RTK and PTK ● Battle, Travel, Skill, Raven, Economy(WIP) Systems ● Skill Sheet ● Constantly Updated Lists ● Events ● Wiki page
Up to date, Doc with all available houses and the ones that have been claimed can be found here - https://docs.google.com/spreadsheets/d/1jHvw-dpiXIQULDSqyq3pOBmAtSacW89KrPLNOS-iqJ8/edit?usp=sharing
Our wiki: https://fall-of-the-dragon.fandom.com/wiki/Fall_Of_The_Dragon_Wiki
Prologue:
After fifty years of peace, dark clouds appear over Westeros once more...Rumors spread that the King was on his death bed and with no heir, it seemed like this was be the end of the Targaryen bloodline. All the Lords of the Great Houses and their vassals were called on to come to King's Landing where a feast is was held and a tournament to keep the nobles busy during these dark days. However, things slowly turned awry...and for the first time in 100 years, no Dragon sits upon the Iron Throne.
Current Status of RP
Year 402
In the Westerlands and Crownlands, orderly chaos reigns, as King Tommen Lannister, Second of His Name ascends the Iron Throne. At his side is his new Hand, Master-at-Arms of the old Iron Throne, who amasses two great hosts at Crakehall and Bitterbridge to intervene in the quickly-deteriorating situation in the Reach. As Lords Paramount fail to answer his calls for oaths of fealty, as the Small Council quickly dissolves and his wife counsels him against intervening in the conflicts across the Reach, the Roaring Lion must find a way to keep the kingdoms of the Iron Throne in check after the mysterious disappearance of King Victor and his family.
In the Iron Islands, the Hand of the King lies rotting in a grave, his wife Leonetta Lannister and his twins taken hostage by King Egil Harlaw. As the banners of House Goodbrother fly above Faircastle, and the King sails south to meet with the rebel of the south, the question of who the Iron Empire will support lies over the heads of all. The Royal Fleet stolen once more, the captains and crews murdered and replaced with ironborn, truly none can stand against the Mad Scythe.
In the Stormlands, Lord Paramount Dykk Baratheon holds a war council at Stonehelm with his most trusted advisor and brother-in-law, Lord Denys Swann, leading the charge. His bannermen assemble, including Tarths, Trants, and most importantly House Dondarrion, the greatest threat to his reign. As riders from Stonehelm go in the night towards Riverrun and Sunspear, the plans of the Stag in the Storm remain to be seen.
In the Reach, the forces of Lords Hightower, Merryweather, and Ashford clash against Lord Tyrell, Lord Tarly, and their bannermen. Bandits and dragons rage across the lands, as the breadbasket of the Seven Kingdoms, burn, and the four great lords rise to fight. The Lord in the South, Leofric Hightower, commander of the rebels. The Lord in the North, Gareth Rowan, preparing to live up to the title of Marshall of the Northmarch and defend the northern Reach against the incoming Crown troops. The Lord in the East, Richard Tarly, lives up to his house's legacy and assembles one of the most professional armies in the Seven Kingdoms. And the Lord in the West, Lord Paramount Ryden Tyrell, raising more and more men to siege Oldtown. The entirety of Westeros seeks their eyes in on the growing conflict, the start of all the plots across the Seven Kingdoms. What remains to be seen is who will win the War of Rose and Tower, or whether one can truly say it is a regional war anymore, when it has spread across the lands of the Iron Throne and even into independent kingdoms.
In the North, the snows and winds of winter fly overhead, as words and politics fly beneath the Northmen. The Queen of the North must look down upon her realm as a child grows inside her, wondering whether to embark in the conflicts to the south or take care of the Wall, with the threat of King Nordoor and the insubordination of Brandon Nightstark, who is both Lord of the Wall and her dead sister's husband. As developments occur every day, with the Shadow Tower occupied by wildlings and an army of Northmen march towards the great wall of ice, the fate of the North in the upcoming conflicts remain unknown.
In Dorne, The High Prince of Dorne returns from the Vale, following a mysterious attempt to poison him, and having secured a full martial alliance with King Arryn. Suspicious of the Iron Throne and eager for retribution, the High Prince's return could set Dorne on a bloody path - as House Hightower looks to him for aid, and his alliances stand poised to shift and change: With the Isles, the Stormlands, and the North." When he returns, even his home will not be a place of peace. The Castellan, Draban Uller, locks horns with Commander Yronwood as both grapple for control in his absence - with House Uller brokering for diplomacy, and House Yronwood eager for war and bloodshed. The delicate balance of power in Dorne now hangs by a silken thread... Who yet knows whether it will be reinforced by what is to come, or severed?
In the Vale since the death of the last dragon, the Vale of Arryn has become an independent kingdom. A year ago the Arryn King’s brother was sent to the Iron Throne to discuss a peace treaty and he betrayed the Vale, telling them that Valemen would pour out of the bloody gate and burn the Riverlands. War was nearly brought to the doorstep of the new kingdom but averted through negotiation. The traitor flung himself from a skycell rather than face justice before his brother. Since that dreadful time, the Vale seemed largely stable. A grand tourney was hosted and shortly after, but High Steward (head advisor of the Arryn King) was ambushed on the road by painted dogs and slain. On the way home from the funeral another man has kidnapped the Arryn sister but the world has yet to discover this newest of events.
In the East, the Ghiscari Empire continues their rise back to the glory of their past. After successful conquests of the Qartheen merchant confederation, the Dothraki and their lands, and the consolidation of Slaver's Bay, the Ghiscari now turn west instead of east, to the Free Cities of Volantis and Tyrosh. As fleeing strangers arrive on burnt and misshapen boats in Westeros, pleading for their help in the conflict, the Westerosi must choose between fighting for power in the current political landscape of Westeros, or sailing east and leaving politics behind to seek glory, freedom, and to stop the Ghiscari from advancing any further.
In the far North in the lands that were once the forsaken frozen waste known as Lands of Always Winter, Lady Ericka Stark leads the fellowship into in the quest given to them by the last Three-Eyed Raven. The group's goal is to unravel the mystery that is The Mottled men and what is the danger that the Three-Eyed Raven had foreseen.
Can you profit in this chaos? Come and find out - > https://discordapp.com/invite/UnRZz65
submitted by LordKalmus to RoleplayGroups [link] [comments]

[Discord RP Server] Game Of Thrones: Fall Of The Dragon

Looking for a good Game Of Thrones Role Play community with active admins and a non-toxic community? You've found just the place!
Game Of Thrones: Fall Of The Dragon is set 100 years after the books and the show. We are a community of literate Roleplayers who have spent the better parts of their life roleplaying and building communities and have had great success with this community for the last 11 months! We are fairly lenient when it comes to bios and will happily help you fit into our universe. Many houses have been claimed but we still have over 350 available houses that need to be claimed!
Your favorite house is claimed? Don't worry! We have Wanted-ads section where you can find if the house you are interested in is looking for more people brothers, sisters, men at arms, cousins, servants, etc
What we offer! ● 18+ Community ● Detailed story ● Great RP ● Active Admins ● Great Community ● Helpful staff ● Easy to learn ●Plenty of channels to RP in ● An option between RTK and PTK ● Battle, Travel, Skill, Raven, Economy(WIP) Systems ● Skill Sheet ● Constantly Updated Lists ● Events ● Wiki page
Up to date, Doc with all available houses and the ones that have been claimed can be found here - https://docs.google.com/spreadsheets/d/1jHvw-dpiXIQULDSqyq3pOBmAtSacW89KrPLNOS-iqJ8/edit?usp=sharing
Our wiki: https://fall-of-the-dragon.fandom.com/wiki/Fall_Of_The_Dragon_Wiki
Prologue:
After fifty years of peace, dark clouds appear over Westeros once more...Rumors spread that the King was on his death bed and with no heir, it seemed like this was be the end of the Targaryen bloodline. All the Lords of the Great Houses and their vassals were called on to come to King's Landing where a feast is was held and a tournament to keep the nobles busy during these dark days. However, things slowly turned awry...and for the first time in 100 years, no Dragon sits upon the Iron Throne.
Current Status of RP
Year 402
In the Westerlands and Crownlands, orderly chaos reigns, as King Tommen Lannister, Second of His Name ascends the Iron Throne. At his side is his new Hand, Master-at-Arms of the old Iron Throne, who amasses two great hosts at Crakehall and Bitterbridge to intervene in the quickly-deteriorating situation in the Reach. As Lords Paramount fail to answer his calls for oaths of fealty, as the Small Council quickly dissolves and his wife counsels him against intervening in the conflicts across the Reach, the Roaring Lion must find a way to keep the kingdoms of the Iron Throne in check after the mysterious disappearance of King Victor and his family.
In the Iron Islands, the Hand of the King lies rotting in a grave, his wife Leonetta Lannister and his twins taken hostage by King Egil Harlaw. As the banners of House Goodbrother fly above Faircastle, and the King sails south to meet with the rebel of the south, the question of who the Iron Empire will support lies over the heads of all. The Royal Fleet stolen once more, the captains and crews murdered and replaced with ironborn, truly none can stand against the Mad Scythe.
In the Stormlands, Lord Paramount Dykk Baratheon holds a war council at Stonehelm with his most trusted advisor and brother-in-law, Lord Denys Swann, leading the charge. His bannermen assemble, including Tarths, Trants, and most importantly House Dondarrion, the greatest threat to his reign. As riders from Stonehelm go in the night towards Riverrun and Sunspear, the plans of the Stag in the Storm remain to be seen.
In the Reach, the forces of Lords Hightower, Merryweather, and Ashford clash against Lord Tyrell, Lord Tarly, and their bannermen. Bandits and dragons rage across the lands, as the breadbasket of the Seven Kingdoms, burn, and the four great lords rise to fight. The Lord in the South, Leofric Hightower, commander of the rebels. The Lord in the North, Gareth Rowan, preparing to live up to the title of Marshall of the Northmarch and defend the northern Reach against the incoming Crown troops. The Lord in the East, Richard Tarly, lives up to his house's legacy and assembles one of the most professional armies in the Seven Kingdoms. And the Lord in the West, Lord Paramount Ryden Tyrell, raising more and more men to siege Oldtown. The entirety of Westeros seeks their eyes in on the growing conflict, the start of all the plots across the Seven Kingdoms. What remains to be seen is who will win the War of Rose and Tower, or whether one can truly say it is a regional war anymore, when it has spread across the lands of the Iron Throne and even into independent kingdoms.
In the North, the snows and winds of winter fly overhead, as words and politics fly beneath the Northmen. The Queen of the North must look down upon her realm as a child grows inside her, wondering whether to embark in the conflicts to the south or take care of the Wall, with the threat of King Nordoor and the insubordination of Brandon Nightstark, who is both Lord of the Wall and her dead sister's husband. As developments occur every day, with the Shadow Tower occupied by wildlings and an army of Northmen march towards the great wall of ice, the fate of the North in the upcoming conflicts remain unknown.
In Dorne, The High Prince of Dorne returns from the Vale, following a mysterious attempt to poison him, and having secured a full martial alliance with King Arryn. Suspicious of the Iron Throne and eager for retribution, the High Prince's return could set Dorne on a bloody path - as House Hightower looks to him for aid, and his alliances stand poised to shift and change: With the Isles, the Stormlands, and the North." When he returns, even his home will not be a place of peace. The Castellan, Draban Uller, locks horns with Commander Yronwood as both grapple for control in his absence - with House Uller brokering for diplomacy, and House Yronwood eager for war and bloodshed. The delicate balance of power in Dorne now hangs by a silken thread... Who yet knows whether it will be reinforced by what is to come, or severed?
In the Vale since the death of the last dragon, the Vale of Arryn has become an independent kingdom. A year ago the Arryn King’s brother was sent to the Iron Throne to discuss a peace treaty and he betrayed the Vale, telling them that Valemen would pour out of the bloody gate and burn the Riverlands. War was nearly brought to the doorstep of the new kingdom but averted through negotiation. The traitor flung himself from a skycell rather than face justice before his brother. Since that dreadful time, the Vale seemed largely stable. A grand tourney was hosted and shortly after, but High Steward (head advisor of the Arryn King) was ambushed on the road by painted dogs and slain. On the way home from the funeral another man has kidnapped the Arryn sister but the world has yet to discover this newest of events.
In the East, the Ghiscari Empire continues their rise back to the glory of their past. After successful conquests of the Qartheen merchant confederation, the Dothraki and their lands, and the consolidation of Slaver's Bay, the Ghiscari now turn west instead of east, to the Free Cities of Volantis and Tyrosh. As fleeing strangers arrive on burnt and misshapen boats in Westeros, pleading for their help in the conflict, the Westerosi must choose between fighting for power in the current political landscape of Westeros, or sailing east and leaving politics behind to seek glory, freedom, and to stop the Ghiscari from advancing any further.
In the far North in the lands that were once the forsaken frozen waste known as Lands of Always Winter, Lady Ericka Stark leads the fellowship into in the quest given to them by the last Three-Eyed Raven. The group's goal is to unravel the mystery that is The Mottled men and what is the danger that the Three-Eyed Raven had foreseen.
Can you profit in this chaos? Come and find out - > https://discordapp.com/invite/UnRZz65
submitted by LordKalmus to roleplaying [link] [comments]

[Discord RP Server] Game Of Thrones: Fall Of The Dragon

Looking for a good Game Of Thrones Role Play community with active admins and a non-toxic community? You've found just the place!
Game Of Thrones: Fall Of The Dragon is set 100 years after the books and the show. We are a community of literate Roleplayers who have spent the better parts of their life roleplaying and building communities and have had great success with this community for the last 11 months! We are fairly lenient when it comes to bios and will happily help you fit into our universe. Many houses have been claimed but we still have over 350 available houses that need to be claimed!
Your favorite house is claimed? Don't worry! We have Wanted-ads section where you can find if the house you are interested in is looking for more people brothers, sisters, men at arms, cousins, servants, etc
What we offer! ● 18+ Community ● Detailed story ● Great RP ● Active Admins ● Great Community ● Helpful staff ● Easy to learn ●Plenty of channels to RP in ● An option between RTK and PTK ● Battle, Travel, Skill, Raven, Economy(WIP) Systems ● Skill Sheet ● Constantly Updated Lists ● Events ● Wiki page
Up to date, Doc with all available houses and the ones that have been claimed can be found here - https://docs.google.com/spreadsheets/d/1jHvw-dpiXIQULDSqyq3pOBmAtSacW89KrPLNOS-iqJ8/edit?usp=sharing
Our wiki: https://fall-of-the-dragon.fandom.com/wiki/Fall_Of_The_Dragon_Wiki
Prologue:
After fifty years of peace, dark clouds appear over Westeros once more...Rumors spread that the King was on his death bed and with no heir, it seemed like this was be the end of the Targaryen bloodline. All the Lords of the Great Houses and their vassals were called on to come to King's Landing where a feast is was held and a tournament to keep the nobles busy during these dark days. However, things slowly turned awry...and for the first time in 100 years, no Dragon sits upon the Iron Throne.
Current Status of RP
Year 402
In the Westerlands and Crownlands,orderly chaos reigns, as King Tommen Lannister, Second of His Name ascends the Iron Throne. At his side is his new Hand, Master-at-Arms of the old Iron Throne, who amasses two great hosts at Crakehall and Bitterbridge to intervene in the quickly-deteriorating situation in the Reach. As Lords Paramount fail to answer his calls for oaths of fealty, as the Small Council quickly dissolves and his wife counsels him against intervening in the conflicts across the Reach, the Roaring Lion must find a way to keep the kingdoms of the Iron Throne in check after the mysterious disappearance of King Victor and his family.
In the Iron Islands, the Hand of the King lies rotting in a grave, his wife Leonetta Lannister and his twins taken hostage by King Egil Harlaw. As the banners of House Goodbrother fly above Faircastle, and the King sails south to meet with the rebel of the south, the question of who the Iron Empire will support lies over the heads of all. The Royal Fleet stolen once more, the captains and crews murdered and replaced with ironborn, truly none can stand against the Mad Scythe.
In the Stormlands, Lord Paramount Dykk Baratheon holds a war council at Stonehelm with his most trusted advisor and brother-in-law, Lord Denys Swann, leading the charge. His bannermen assemble, including Tarths, Trants, and most importantly House Dondarrion, the greatest threat to his reign. As riders from Stonehelm go in the night towards Riverrun and Sunspear, the plans of the Stag in the Storm remain to be seen.
In the Reach, the forces of Lords Hightower, Merryweather, and Ashford clash against Lord Tyrell, Lord Tarly, and their bannermen. Bandits and dragons rage across the lands, as the breadbasket of the Seven Kingdoms, burn, and the four great lords rise to fight. The Lord in the South, Leofric Hightower, commander of the rebels. The Lord in the North, Gareth Rowan, preparing to live up to the title of Marshall of the Northmarch and defend the northern Reach against the incoming Crown troops. The Lord in the East, Richard Tarly, lives up to his house's legacy and assembles one of the most professional armies in the Seven Kingdoms. And the Lord in the West, Lord Paramount Ryden Tyrell, raising more and more men to siege Oldtown. The entirety of Westeros seeks their eyes in on the growing conflict, the start of all the plots across the Seven Kingdoms. What remains to be seen is who will win the War of Rose and Tower, or whether one can truly say it is a regional war anymore, when it has spread across the lands of the Iron Throne and even into independent kingdoms.
In the North, the snows and winds of winter fly overhead, as words and politics fly beneath the Northmen. The Queen of the North must look down upon her realm as a child grows inside her, wondering whether to embark in the conflicts to the south or take care of the Wall, with the threat of King Nordoor and the insubordination of Brandon Nightstark, who is both Lord of the Wall and her dead sister's husband. As developments occur every day, with the Shadow Tower occupied by wildlings and an army of Northmen march towards the great wall of ice, the fate of the North in the upcoming conflicts remain unknown.
In Dorne, The High Prince of Dorne returns from the Vale, following a mysterious attempt to poison him, and having secured a full martial alliance with King Arryn. Suspicious of the Iron Throne and eager for retribution, the High Prince's return could set Dorne on a bloody path - as House Hightower looks to him for aid, and his alliances stand poised to shift and change: With the Isles, the Stormlands, and the North." When he returns, even his home will not be a place of peace. The Castellan, Draban Uller, locks horns with Commander Yronwood as both grapple for control in his absence - with House Uller brokering for diplomacy, and House Yronwood eager for war and bloodshed. The delicate balance of power in Dorne now hangs by a silken thread... Who yet knows whether it will be reinforced by what is to come, or severed?
In the Vale since the death of the last dragon, the Vale of Arryn has become an independent kingdom. A year ago the Arryn King’s brother was sent to the Iron Throne to discuss a peace treaty and he betrayed the Vale, telling them that Valemen would pour out of the bloody gate and burn the Riverlands. War was nearly brought to the doorstep of the new kingdom but averted through negotiation. The traitor flung himself from a skycell rather than face justice before his brother. Since that dreadful time, the Vale seemed largely stable. A grand tourney was hosted and shortly after, but High Steward (head advisor of the Arryn King) was ambushed on the road by painted dogs and slain. On the way home from the funeral another man has kidnapped the Arryn sister but the world has yet to discover this newest of events.
In the East, the Ghiscari Empire continues their rise back to the glory of their past. After successful conquests of the Qartheen merchant confederation, the Dothraki and their lands, and the consolidation of Slaver's Bay, the Ghiscari now turn west instead of east, to the Free Cities of Volantis and Tyrosh. As fleeing strangers arrive on burnt and misshapen boats in Westeros, pleading for their help in the conflict, the Westerosi must choose between fighting for power in the current political landscape of Westeros, or sailing east and leaving politics behind to seek glory, freedom, and to stop the Ghiscari from advancing any further.
In the far North in the lands that were once the forsaken frozen waste known as Lands of Always Winter, Lady Ericka Stark leads the fellowship into in the quest given to them by the last Three-Eyed Raven. The group's goal is to unravel the mystery that is The Mottled men and what is the danger that the Three-Eyed Raven had foreseen.
Can you profit in this chaos? Come and find out - > https://discordapp.com/invite/UnRZz65
submitted by LordKalmus to AdvancedLiterateRP [link] [comments]

How I Got Into Real Estate Investing At 22

Due to sub rules preventing me from posting a link to my Medium write up, I'm instead required to copy paste it over the Reddit. Please forgive any formatting errors. You can PM me for the link.
I bought my first investment property (a triplex) when I was 22 back in 2013. Prior to making this purchase I had to prepare for nearly two years in order to set up the necessary financial infrastructure to make this purchase. This is the story about that process, the lessons I learned, and things that that I wish I had known beforehand. Unlike the many other articles and “guides” to real estate investing, I won’t be treating you like a novice. The reality is, only a small fraction of the people reading this article will use the information that I’m attempting to convey and that’s fine. If you’re like me and want a perspective that’s more than skin deep then this is for you.
My parents were average middle-class people and growing up, I did not have a “Rich Dad” mentor who would guide my financial education. It wasn’t until after I had made my first investment purchase that I had sought out my first mentor who was none other than my own landlord at the time (that’s a story for another time). During my journey towards acquiring my first rental property, the greatest difficulty I faced was the lack of detailed and specific information available to new investors. Most of the information I encountered were either very generic or “philosophical”, sure financial freedom sounds nice but what are the exact steps that I need to take? As someone who doesn’t come from wealth or parents with high financial IQ, it really made me realize why the middle-class and poor were at such a disadvantage when compared to the wealthy and financially educated class. The greatest barrier was not money but knowledge.
Part I: Getting Started
Now, back to the story at hand. As I mentioned the process of buying my first investment property began more than two years before my first purchase. The reason for this simple: qualifying for a loan. In my opinion, the reason why real estate is a far superior investment option compared to stocks is that no one is going to give you a 95% loan-to-value 30-year-fixed rate interest to buy stocks. Thanks to government subsidies, mortgages are the cheapest money you’ll ever get and it’s accessible to all investors, not just accredited investors.
However, in order to access this valuable resource, you’ll have to develop several important assets. These assets are: credit, income, and capital.
Credit: If you’re like me growing up, you’ve either been told many negative things about this subject or nothing at all. What I’ve learned is that credit is a tool and the way you use it will lead you either to wealth or ruin. As an investor you must discipline yourself to use credit wisely and care for it as if your life depends on it. Credit is one of the greatest barriers to entry for younger investors and that’s why you must start building it as soon as possible. Whether you get your credit history started with a secured card or become an authorized user on someone else’s card, the important thing is to start! I won’t go in further detail about this, you can look up resources like Credit Karma to answer your questions. Income: Having a great credit score is a good start, but without any provable income, you’ll be hard pressed to qualify for any sort of loans. The ideal scenario is to have a steady salaried job which you’ve been working at for at least one year. You can qualify for a loan with self-employed income but it’s much harder to do so. Of course, loan regulations are constantly changing so you should find yourself a qualified mortgage broker to familiarize yourself with the details. Learning as much about loans and the various ways you can take advantage of them is something I wish I had done prior to buying my first investment.
Capital: Recently I’ve seen dozens of articles, books, and classes that offer you the opportunity to get into real estate investing with “No Money Required!”. Now I wouldn’t go as far to say that these people are all lying, but doing any sort of investing without any personal funds is both risky and foolish, especially if you’re a novice. If you’re the type of person who can’t manage to scrape together any savings to invest with, then your first priority should be to straighten out your personal finances, not investing in real estate. Acquiring sufficient capital to make a down payment on your property should be part of your preparation process. You should ideally prepare enough to make a 20% down payment, but 5% + closing costs should be the bare minimum.
I made the decision to go into real estate investing back when I was in high school. However, I didn’t really take any serious action until close to my second year of college. It took me quite a while to figure out exactly what I needed to buy my first property. Thanks to a family friend who was a mortgage broker, she explained to me the minimum requirements (listed above) that I needed to qualify for a loan. I started my credit history with a $500 secured credit card from a local credit union, and my parents were kind enough to bolster my credit score by adding me to one of their cards (like many middle income families, my parents had great credit but no money).
For my income, I had started an IT consulting company which I managed to net out about $50k in profits in the first year and about $80k in the second year. This was reflected on my tax returns for their respective years which allowed me to qualify for a loan. In hindsight, a salaried job would have made it easier to qualify but I might not have made as much considering my age at the time. Besides, it wasn’t until my second year of operating that business that I had learned about the requirements to get a loan. I had to make do with the situation at hand.
Finally, living at home and building my savings during that time allowed me to accumulate around $80k which was enough to make a down payment on a property. And so, with a low 700’s credit score, two years tax returns, and $80k in the bank I was off to find my very first investment property.
Part II: Finding Your Investment Property The year was 2013. While the real estate market in the Seattle area was starting to pick up again, the great recession still loomed like a dark cloud and was never far from peoples thoughts. It was during this period that my naive and inexperienced self began the hunt for my very first investment property.
There are two important lessons that I learned during this and later periods. One is that the majority of people know nothing about real estate investing and taking advice from such people will only lead you to catastrophe. Two, this same principle applies to real estate agents as well. The only people who knows anything about real estate investing are real estate investors. I don’t care if the person who’s giving you advice is a CPA, financial adviser, managing broker of a real estate brokerage, or a successful business entrepreneur. Unless they’ve actually gone through the process of buying a property, listing it for rent, managing tenants, collecting rent, and spent a Sunday afternoon repairing a leaky roof; they don’t know anything about real estate investing. On top of this, the majority of real estate investors are terrible investors. I would say that the percentage of successful real estate investors is probably equivalent to the percentage of successful stock investors. Many of these people became landlords/investors by accident, and as a result, their investments are likely to be either cash flow negative or just break even. So before you take advice from Uncle Bengee who rents out his former house in Minnesota, check to see that their investments are actually investments and not a poorly disguised liability.
Continuing on with my story, I followed the advice of my friends and family and I started my search by asking around for a good real estate agent to work with. I soon partnered up with an agent who, looking back now, was a mediocre agent at best and didn’t have the slightest clue about investment properties. But he was a likable character and had some very entertaining stories, not that this would help me in anyway.
With what little I knew I outlined a simple criteria for the type of property I wanted:
Good location (meaning commuter friendly, developing area, and potential for growth) Cash flow positive Multifamily (I’ll go into more details) Within my price range ($200k-$300k)
I had decided early on to buy a multifamily property because based on my reasoning and research: multifamily properties benefit from fluctuation in income from vacancies (1/X% units vacant vs $0 income if a SFH is vacant), combined maintenance costs (one roof, one sewer, one structure), location convenience (1 address for all units instead of multiple addresses), and better cap rates in general. Of course, this is sacrificing greater appreciation and longer term tenants but the cost-benefit weighed in favor of multifamily for me.
There were a few properties that I considered prior to finding the triplex that I ultimately purchased, frankly if I could go back I would have looked at more properties and have done more research before making my purchase. I think I was more lucky with my timing and location than any smart decision making on my part, but the experience gained from making that initial leap of faith was the necessary jump start to my journey as a real estate investor.
The triplex I ended up buying was located in the South part of Seattle, it was an old property over 100 years old and frankly looked the part. It was a short-sale (which means the owner owed more than the listing price) with a listing price of $330k. Several things that caught my eye about this property was that it was 2 minutes from the highway on ramp, a 10 minute walk from the new light rail station, cash flow positive based on the rent numbers, and it was zoned for commercial use in an area surrounded by commercial properties. I made an offer of $300k for the property and the offer was eventually approved by the bank.
I found the property using Zillow while searching for multifamily properties in the greater Seattle area, the triplex had two 1 bedroom units and one 2 bedroom unit.
The rents were $690, $730, and $1000 respectively or $2420 total. At 25% down the monthly costs for mortgage, insurance, and taxes were about $1,500 with a 4.5% interest rate. I estimated about $300/month in maintenance and $200 in utilities for additional expenses. That would leave me about cashflow positive of about $420 a month. That’s about a 6% cash on cash return, it was nothing to write home about but I didn’t know any better at the time. I was just happy with the fact that it was cashflow positive. Of course at the time I didn’t account for any vacancies and definitely underestimated my maintenance expenses considering the age of the property. The closing process went pretty smoothly despite being a short sale property. During the inspection contingency I did as much research about the property as I could. I checked the county records to look up the property history, previous sales, current and estimated property taxes, and any permits that were pulled for any renovations. Due to the unique zoning of the property, I made an appointment with the city permit department to learn more about the zoning benefits of the property. After speaking with a city planning representative they informed me that the property was a zero-lot-line property (meaning if developed the new structure can be built close to the edge of the property line), no parking spaces were required due to close public transit, and that the building height limit was going to be increased from 65 to 130 feet.
This was all very good news to me. After considering the current state of the property, I believed that if I had to sell the place down the road, it was more likely to be picked up by a developer instead of another landlord. What I learned from meeting with the city permit department was that the land would be worth a lot to any future developers.
Things I learned and things I wish I knew then:
Turnkey: I would suggest for new investors to buy a more turnkey property than a more risky property that requires a lot more repairs and work. I think real estate investing is a big pill to swallow and it’s better to have your first investment be something more manageable. A catastrophe on your first investment will set you back quite a lot while a good but not killer first property will help set a good foundation for your future acquisitions while allowing you to decide whether or not real estate investing is for you.
Patience: While decision paralysis is a real issue, I strongly believe being patient and meticulous is important to have a better understanding of your market and its current opportunities. I think if I had spent more time analyzing more opportunities, I would have likely found a even better cash flowing property.
Inspector: For the novice real estate investor, a good inspector makes a world of difference. This is someone that unlike your realtor, your loan officer, and everyone else in the buying process is not incentivized by you closing the deal. I was not impressed by the inspector that I had for my first purchase, I think if I had someone more knowledgable and insightful I would have been more aware of the issues that I was buying into. I suggest getting referrals from other investors for inspectors that really dig into the details. You may not want inspectors referred by your agent because they may be incentivized to say less in order to prevent scaring new buyers away. Ask for samples of previous inspection reports to get a better idea of the service and information that the inspector will offer you.
Rent: Don’t be afraid to raise rents to market levels. This is perhaps one of my biggest mistakes after buying my property. I simply renewed everyones leases and kept the rent the same for the three years that I owned the property. I probably lost tens of thousands of dollars by not increasing rents to market rates. Previous owners and landlords usually aren’t as aggressive in raising rents because they don’t want to deal with turnovers. Use resources like Craigslist, Zillow, and Rentometer to determine what market rent is for your property. It’s a good idea to take tours of other units and see how they compare to yours.
I hope that my story will help and inspire you to go forth on your own journey of real estate investing. If you have any questions or would like to request a write up on a different topic, please post your response below!
submitted by excelphysicslab to RealEstate [link] [comments]

Entrepreneurs, saving, investing

Greetings! I just have a few questions regarding finance and wanted to see if anyone had some input/wisdom/advice that helped them when they had similar issues. I don't expect anyone to go into detail or anything, but Im sorta lost at this point and had a feeling coming here might be helpful... So, if you decide to read & post I want to say in advance THANK YOU! I know you have better things to do with your time so I SINCERELY appreciate your time and input, I cant stress this enough.
Ill try to keep this brief but it is a few questions and they cover a broad spectrum of topics, situations and variables, Im trying to keep it as simple as possible...just "big picture" or "general idea" answers would suffice, I can fill in the details and do the leg work, I just need help being set in the right direction or frame of mind from people who have done it.

So some quick, basic info that might help you guage what kinda input to give... Im 25 years old, I am unmarried with no kids and no plans to get married or have kids. I have a longtime girlfriend but we share the same sentiment about marriage and kids ( Thank God ;p ) I live in my fathers home rent free while he spends the next few years in his RV across the states, until then I have a great opportunity to save money that would otherwise go to rent. As of this moment, I am unemployed but that will change pretty soon.... I don't have any degrees...I don't have a savings account but I opened a Stash app account where I keep money in stocks and bonds, it has around $2000 in it. I live in Boise Id, im open to moving but would prefer not to. Boise isn't a large city, theres not much opportunity here. I have no other obligations currently that would interfere with any suggestions.
With that being said, here is where I am at....

Ive always wanted to work for myself since I was young. After almost a decade in the work force its become painfully clear that its what I need to be doing. Ive also undergone a drastic mindset regarding the spending of my money, as little as 6 months ago I was spending money on WORTHLESS crap I didn't need compulsively. Maybe Ive matured, but I have been trying so hard to break this mindset, however, old habits die hard... As my thoughts have been geared more towards working for myself and saving money, Ive also thought about passive income/ investing as well.

ENTREPENEURS=> I am curious what you guys did when you first started? I have the drive, the work ethic, the intelligence and will to succeed but I fall short in the first step which is an idea...somewhere to start. Buying something and selling it? Cleaning pools? Obviously Im not going to go buy a Pizza Hut as I lack the capital so I need ideas for small scale, low overhead and expense projects that I can grow off of and branch out of...What I have done is turn my aquarium hobby into a little side income, I breed Cherry Shrimp and sell them, I am going to post on eBay and see how it goes and possibly expand on that. That's the one and only idea Ive had. Its not that I am stupid, Ive always had a high IQ and all, but I think I tend to doubt myself too much, overthink 5 steps ahead...I digress, anyway, I am great with people, Ive worked and done well in a wide range of jobs as well....I don't have to enjoy the work itself, I still care about doing the job well and helping the company so I am open to a wide range of suggestions. Desk work, sales work, whatever. Im just curious what got beginning entrepreneurs started off and how did you get and find ideas? Its this block in my head...its so stupid, I cannot come up with the initial idea. Once I do get an initial idea, its off to the races. I build off of it, make it efficient, reinvest profits, strategize how to expand, the trick is finding the idea. All the stuff I do manage to think of seems inefficient and like it wouldn't work. I hate asking for charity so I sincerely offer compensation if someone wanted to really sit down and exchange some emails and help me get on the path to success...Im realistic as well, Im not expecting someone to hand me the blueprints to a company, just advice on how to find ideas on my own.

SAVING=> I was bad with money until about 10 months ago, Id spend it as quick as I got it. On stupid shit too, wow I get mad at myself thinking about it. The problem is, despite wanting and trying to change I find myself still doing this, let me give an example to show you what I mean:
I go to PetSmart to get Cat Food. As im driving there I mentally know I don't need anything else and don't want too waste money. In and out. After years of blowing money on crap I never use its getting old, ya know? I get into the store, get the cat food and without even realizing it my brain pulls a sneaky on me, it says, "I know you wont buy anything, but lets at least look at fish while were here.". Its like it has its own agenda, it knows if it can trick me into going over, Ill end up buying fish and I do. Its ridiculous. Had a big problem with clothes for a while too, and when I was younger im ashamed to admit, pain killers :/ . Obviously, I struggle with instant gratification and compulsive buying. Has anyone else had to break this habbit? I have the desire to, a little guidance would be a blessing...a mind trick, meditation, hiding your money ( LOL ) , any weird little tips or tricks that may have helped you would be helpful!

INVESTING & PASSIVE INCOME=> I suppose this goes back to working for myself and saving combined... but I wanted to touch on it specifically... Am I trying to juggle too much? I mean, if Im trying to start off being an entrepreneur is it wise to put money into long term investment options? Should I keep my capital liquid incase I need it for investment opportunities?
What are some ways you've invested? Did you hire a broker or DIY? I installed Stash, Robin Hood and the Forex Game... Right now Im using Stash as my savings account ( It is giving me more interest than ANY checking acct haha ).
seems its better off to invest my money myself on apps, or keep it liquid for opportunities...I hope Im making sense. As you can see, I am over thinking this and wanna see what other people did/ would do in their mid 20s.
Worth mentioning that I don't do half bad investing myself...I just do Blue Chips and high dividend bonds. I really don't do anything more than a "Moderate" risk, I put my money into companies I know wont fail: Berkshire Hathaway, Boeing, Johnson&Johnson, GE, Pfizer. For me, its doing well. Im not taking big risks, Im viewing it as a savings account and I always reinvest dividends.

Basically, im just trying to get my life straight. Im also trying to develop better lifestyle habits too, not staying up late, eating healthy, drinking enough water and stuff like that. Maybe I am trying to think about too much and should just do 1 thing, problem is, IDK what that 1 thing should be!! I feel like I waited 25 years to be responsible so Im getting all the stress from trying to break years and years of slacking and bad habbits .

I don't have any friends that I can talk to about this stuff which is another area of my life I need to improve on. I am so tired of associating with unintelligent losers with no drive. Im afraid that I wasted 25 years of my life.

I know this was a mess, I apologize. Just wanna stress Im not expecting anyone to read & respond to all of this. I was just hoping someone who could relate to an area of this could share some experience they had, just a sentence or two even. The more detail the better but I realize im asking perfect strangers to spend their time to be my life coach lol.
Thank you, thank you thank you thank you.
submitted by JTDillon99 to personalfinance [link] [comments]

[Spoilers] The Fantastic Post-apocalyptic World of Sora No Woto - an Introduction

Repost because the last post was removed for not having [Spoilers] in the title.
Recently I’ve watch a little underrated gem called Sora No Woto (English: Sound of the Sky), and I thought the world building was rather excellently done. It is really a shame that not many people have seen this show, do check it out if you can, as it is something really special. Not only is Sora No Woto set in an extremely interesting world, it also manages to tell a beautiful story featuring a cast of charming characters as well.
I do understand that the slice of life, slow paced nature combine with the moe aesthetic of the show might not be for everyone. But have no worries, I was so inspired that I decided to write this super long post to introduce this amazingly world to you, /anime! And who knows, maybe after reading this you might just decide to check it out too!
This is purely an introduction to the world of Sora No Woto. I do have another equally long essay with analysis of the plot and characters as well as my theory to explain certain things in the show - but that is for another time. For now, let us jump right in an explore the fantastic world building of the show!
 
The World Has Already Ended
Although it does not feel like it, Sora No Woto is very much set in a post-apocalyptic world. Civilization is well past its prime, and mankind is slowly marching toward its eventual demise. The remaining dwindling population are just the remnants - an insignificant fraction compared to the height of humanity of the former era. Much has been lost that could never be gained again, from historical records to technologies to entire languages being forgotten. When the story began, the world has already ended, or is very close to it - the extinction of mankind is not a question of if, but when. How did it come to this?
 
Events of the Past
A great catastrophe that happened a long time ago is largely responsible for the current state of the world. Humanity fought a desperate war against an enemy of unknown nature referred to only as “them” and lost. The origin of these entities are shrouded in mystery, as is the reason behind the conflict. The only things we know for sure is that mankind fought to protect themselves and failed, which brought profound consequences upon the earth. This resulted in the utter decimation of human civilization as well as the total collapse of the ecosystem - from which the planet never fully recovered.
What exactly happened after we lost? Where did the enemy go? How much time has passed since then? No one knew exactly, but humanity were not entirely wiped out. No records survived, and even if there were, it is likely that no one alive could read the language anymore. The last of mankind lingered on and endured into a new age, where the past with its magic-like technology is simply referred to as “the former era”. But this residual human civilization is just a pale shadow of what it used to be.
 
Current State of the World
The destruction from the war left a permanent scar on the natural world. The ocean is now virtually sterilized - just giant body of water devoid of any wildlife. Entire continents turn into lifeless desert, rendering the land completely uninhabitable. This desolate wasteland - called “No Man’s Land” by the living human is slowly expanding, threatening to swallow whole whatever little livable area remaining.
The landmass has changed so much that the world map is almost unrecognizable from the one we are familiar with. The universal understanding of the earth’s geography we take for granted today has vanished from the collective human knowledge - as such no people alive in this age has an idea of how the world look like on a global scale. As the planet is effectively uncharted at this point, a map of the world has to be redrawn, with much speculation and extreme inaccuracies.
Among this harsh unforgiving world, there exists an area of lush land where the soil is fertile, the water is fresh and wildlife thrives. It is in these precious regions that humanity lived on, formed into nations and even managed to wage wars against one another over scarce resources.
 
Politics & War in a Dying World
In this small pocket of civilization (which might possibly be located in what used to be Japan, China & Korea), humanity are divided into small, competing nations - each with its own system of government and cultural identity. The story mainly focuses on the conflict between the Republic of Helvetia (République d’Helvétia) and the Roman Empire (Romischen Reiches) - whose territories share the same landmass. Although it is worth noting that war is hardly exclusive to these two nations.
While the name “Republic” might suggests otherwise, Helvetia is as much a monarchy as the Roman Empire is. Both countries are ruled by monarchs - the Archduke for Helvetia and the Emperor for Roma. Members of the royal family wield immense power and influence over society. Political marriage are common tools used for brokering peace between states.
Helvetia and Roma fought a long, fruitless conflict for many years. When the war effort proved detrimental to both countries and their people, a temporary armistice was finally reached. It has been 6 months since then and the peace arrangement are still going nowhere with both sides unwilling to compromise on their conditions. Meanwhile, trouble are starting to brew at the borders - as even within the ranks of Helvetia’s military, there are those who would be happy to see the war continues until one side is completely eliminated.
A point worth mentioning here is regarding the level of technological advancement in this world. Technology seems to have been largely stucked in the level of the 19th century with the only exception being firearms and military vehicles - probably thanks to the constant warfare.
 
Culture & Religion - A Melting Pot of Various Influences
As continents slowly get engulfed by the vast desert, people of multiple different ethnicity migrating from all over the globe into this one tiny habitable corner of the world. Over time, culture evolved into what can only described as a melting pot of various heritages with overlapping eastern and western influences. Yet, there is still a clear distinction of cultural identity between different nations. Since the story is only told from the Republic of Helvetia’s side, we will mostly look at Helvetia’s culture here:
Next, let’s take a tour of Seize - the border city where the main story of Sora No Woto takes place.
 
Seize - the Town of Lakes & Glass
Seize is a city in the province of Trois, it is located in the northwest border of Helvetia, directly next to No Man’s Land. “Seize” and “Trois” mean sixteen and three in French, respectively. So this is effectively City 16 and in Province 3 - the Helvetians aren't exactly creative in naming locations. The design of the town is directly inspired by the city of Cuenca and the town of Alarcón, both from Castilla La Mancha, Spain.
These are a few key locations in Seize:
 
The Time Telling Fortress - Home of the 1121st Platoon
The Time Telling Fortress, also know as the Time Heralding Fortress or simply the Bastion is the official military garrison of Seize. Stationed in this army base is the 1121st Platoon - responsible for protecting the town and maintaining national border, among other tasks. Before exploring the fortress further, let’s briefly meet the members of the 1121st.
The 1121st is a pink branch of the Helvetian army, meaning they are part of of the armored troops (tank). This is signified by the patch of pink of colour on their uniform collars. The traditional emblem of the platoon is a white owl on two crossed swords. The 1121st only has five members, exactly the minimum requirement for a tank crew. All of them are female, hence the nickname “bastion maiden” from the locals:
If at this point you are thinking “these girls don’t look like they should be in charge of protecting an entire city”, you would be correct. The reality is with the armistice going on and the location of the town borders No Man’s Land, Seize is of little strategic importance to Helvetia. As such, military presence in the city is little more than a token decorative force. In fact, the 1121st - a tank platoon of the Helvetian army, doesn’t even have a working tank!
The fortress itself is very old, possibly date back to the former era and many secrets lie within it. It is evidence that building used to be a school and a convent before finally it was finally taken over by the Helvetian army. The compound was originally designed to house a much larger number of people, but now many areas have fallen into disrepair, either due to the war or negligence.
Key locations of the Time Telling Fortress:
While it is true the 1121st is mostly there for decoration, but that doesn’t mean the girls don’t make themselves useful, far from it. Next, let’s take a look at the daily lives and duties of the bastion maidens.
 
Daily Routine & Missions of the Bastion Maidens
Life at the border is tough. Due to the remote location as well as the negligible importance of Seize, the 1121st is always short on ammunitions, medicines and various everyday need items. Monthly salary usually arrive late, and always in the form of military currency with extremely limited use. With supply constantly running low and struggling finance, the maidens are forced to get creative in order to boost their income.
The main contact between the 1121st and army HQ is through a courier - major Klaus. He delivers military orders and personal correspondences, as well as army personnel to and from the bastion on a regular basis. However, whenever there is urgent documents that need to be rushed to HQ, the girls need to take the train to the next town to deliver them if Klaus is not there. Such is the inconvenience of a remote, middle of nowhere military base.
However, the backwater isolation of the bastion is not without its benefit. Second Lieutenant Filicia is committed to making life as easy as possible for the girls under her command. This range from very lax military protocol to nice, lavish meals to taking over cleaning duty. In fact, she has a tendency to act more like a mother than a captain and will probably spoil the girls rotten given the chance. On the other hand, second in command Sergeant Major Rio - who is much more military minded is there to keep her in check, playing the role of the tough boss.
So, what is it exactly that they do everyday when there’s no war to speak of? Let’s go through a typical day in the life of the 1121st Platoon to find out.
Duty and training rotate everyday based on a fixed schedule, and can include any of the following activities:
Occasionally, they will receive actual orders from Helvetia Army HQ or get a request for help from the citizens of Seize. When this happen, these missions take priority over everything else. Some examples include:
 
Weapons & Equipment of the 1121st
While not exactly the most equipped troops in the Helvetian army, the 1121st has all (almost) all the tools necessary to perform their duties. For a squad of 5 people, they are decently well armed, with the following weapons available:
For transport, they have the following vehicles:
And finally, the star of any tank platoon:
The 1121st wear the standard Helvetian army uniform, with the platoon emblem sewn on the left arm and a pink patch on their collar signifying their status as tank troops. These uniforms comes with a few variation for comfort and versatility:
Other military equipment are available to the bastion maidens, such as:
 
The Takemikazuchi - a Relic from the Former Era
Unlike the tanks with treads we are familiar with, all the tanks in Sora No Woto run on metal legs. There are two theory that explain this: First, they were probably designed this way to be better suited to the mountainous terrains of Helvetia. Second, they are modeled after the Vector Type Zero tanks of the legendary former era, all of which run on legs.
The Takemikazuchi is a legacy from the former age, with no more than 10 models left in the entire world. It is a much more sophisticated machine compare to the conventional armors used by the Helvetian army, capable of a wide range of functions both in and outside of combat.
The Takemikazuchi comes with the following armaments:
A versatile machine, the tank also has the follow modes built-in, which can be enabled or disabled via the control console. Although not much is known about what exactly each mode does, as we only caught brief glimpses of them on the HUDs.
Presumably more more wonders of the previous era sleep within the Takemikazuchi, its full potential has yet to be completely discovered.
 
And that's it! Here's an album of composite scenery porn from the show your enjoyment!
submitted by twoduy to anime [link] [comments]

How I Got Into Real Estate Investing at 22

I bought my first investment property (a triplex) when I was 22 back in 2013. Prior to making this purchase I had to prepare for nearly two years in order to set up the necessary financial infrastructure to make this purchase. This is the story about that process, the lessons I learned, and things that that I wish I had known beforehand. Unlike the many other articles and “guides” to real estate investing, I won’t be treating you like a novice. The reality is, only a small fraction of the people reading this article will use the information that I’m attempting to convey and that’s fine. If you’re like me and want a perspective that’s more than skin deep then this is for you.
My parents were average middle-class people and growing up, I did not have a “Rich Dad” mentor who would guide my financial education. It wasn’t until after I had made my first investment purchase that I had sought out my first mentor who was none other than my own landlord at the time (that’s a story for another time). During my journey towards acquiring my first rental property, the greatest difficulty I faced was the lack of detailed and specific information available to new investors. Most of the information I encountered were either very generic or “philosophical”, sure financial freedom sounds nice but what are the exact steps that I need to take? As someone who doesn’t come from wealth or parents with high financial IQ, it really made me realize why the middle-class and poor were at such a disadvantage when compared to the wealthy and financially educated class. The greatest barrier was not money but knowledge.
Part I: Getting Started
Now, back to the story at hand. As I mentioned the process of buying my first investment property began more than two years before my first purchase. The reason for this simple: qualifying for a loan. In my opinion, the reason why real estate is a far superior investment option compared to stocks is that no one is going to give you a 95% loan-to-value 30-year-fixed rate interest to buy stocks. Thanks to government subsidies, mortgages are the cheapest money you’ll ever get and it’s accessible to all investors, not just accredited investors.
However, in order to access this valuable resource, you’ll have to develop several important assets. These assets are: credit, income, and capital.
Credit: If you’re like me growing up, you’ve either been told many negative things about this subject or nothing at all. What I’ve learned is that credit is a tool and the way you use it will lead you either to wealth or ruin. As an investor you must discipline yourself to use credit wisely and care for it as if your life depends on it. Credit is one of the greatest barriers to entry for younger investors and that’s why you must start building it as soon as possible. Whether you get your credit history started with a secured card or become an authorized user on someone else’s card, the important thing is to start! I won’t go in further detail about this, you can look up resources like Credit Karma to answer your questions.
Income: Having a great credit score is a good start, but without any provable income, you’ll be hard pressed to qualify for any sort of loans. The ideal scenario is to have a steady salaried job which you’ve been working at for at least one year. You can qualify for a loan with self-employed income but it’s much harder to do so. Of course, loan regulations are constantly changing so you should find yourself a qualified mortgage broker to familiarize yourself with the details. Learning as much about loans and the various ways you can take advantage of them is something I wish I had done prior to buying my first investment.
Capital: Recently I’ve seen dozens of articles, books, and classes that offer you the opportunity to get into real estate investing with “No Money Required!”. Now I wouldn’t go as far to say that these people are all lying, but doing any sort of investing without any personal funds is both risky and foolish, especially if you’re a novice. If you’re the type of person who can’t manage to scrape together any savings to invest with, then your first priority should be to straighten out your personal finances, not investing in real estate. Acquiring sufficient capital to make a down payment on your property should be part of your preparation process. You should ideally prepare enough to make a 20% down payment, but 5% + closing costs should be the bare minimum.
I made the decision to go into real estate investing back when I was in high school. However, I didn’t really take any serious action until close to my second year of college. It took me quite a while to figure out exactly what I needed to buy my first property. Thanks to a family friend who was a mortgage broker, she explained to me the minimum requirements (listed above) that I needed to qualify for a loan. I started my credit history with a $500 secured credit card from a local credit union, and my parents were kind enough to bolster my credit score by adding me to one of their cards (like many middle income families, my parents had great credit but no money).
For my income, I had started an IT consulting company which I managed to net out about $50k in profits in the first year and about $80k in the second year. This was reflected on my tax returns for their respective years which allowed me to qualify for a loan. In hindsight, a salaried job would have made it easier to qualify but I might not have made as much considering my age at the time. Besides, it wasn’t until my second year of operating that business that I had learned about the requirements to get a loan. I had to make do with the situation at hand.
Finally, living at home and building my savings during that time allowed me to accumulate around $80k which was enough to make a down payment on a property. And so, with a low 700’s credit score, two years tax returns, and $80k in the bank I was off to find my very first investment property.
Part II: Finding Your Investment Property The year was 2013. While the real estate market in the Seattle area was starting to pick up again, the great recession still loomed like a dark cloud and was never far from peoples thoughts. It was during this period that my naive and inexperienced self began the hunt for my very first investment property.
There are two important lessons that I learned during this and later periods. One is that the majority of people know nothing about real estate investing and taking advice from such people will only lead you to catastrophe. Two, this same principle applies to real estate agents as well. The only people who knows anything about real estate investing are real estate investors. I don’t care if the person who’s giving you advice is a CPA, financial adviser, managing broker of a real estate brokerage, or a successful business entrepreneur. Unless they’ve actually gone through the process of buying a property, listing it for rent, managing tenants, collecting rent, and spent a Sunday afternoon repairing a leaky roof; they don’t know anything about real estate investing. On top of this, the majority of real estate investors are terrible investors. I would say that the percentage of successful real estate investors is probably equivalent to the percentage of successful stock investors. Many of these people became landlords/investors by accident, and as a result, their investments are likely to be either cash flow negative or just break even. So before you take advice from Uncle Bengee who rents out his former house in Minnesota, check to see that their investments are actually investments and not a poorly disguised liability.
Continuing on with my story, I followed the advice of my friends and family and I started my search by asking around for a good real estate agent to work with. I soon partnered up with an agent who, looking back now, was a mediocre agent at best and didn’t have the slightest clue about investment properties. But he was a likable character and had some very entertaining stories, not that this would help me in anyway.
With what little I knew I outlined a simple criteria for the type of property I wanted:
I had decided early on to buy a multifamily property because based on my reasoning and research: multifamily properties benefit from fluctuation in income from vacancies (1/X% units vacant vs $0 income if a SFH is vacant), combined maintenance costs (one roof, one sewer, one structure), location convenience (1 address for all units instead of multiple addresses), and better cap rates in general. Of course, this is sacrificing greater appreciation and longer term tenants but the cost-benefit weighed in favor of multifamily for me.
There were a few properties that I considered prior to finding the triplex that I ultimately purchased, frankly if I could go back I would have looked at more properties and have done more research before making my purchase. I think I was more lucky with my timing and location than any smart decision making on my part, but the experience gained from making that initial leap of faith was the necessary jump start to my journey as a real estate investor.
The triplex I ended up buying was located in the South part of Seattle, it was an old property over 100 years old and frankly looked the part. It was a short-sale (which means the owner owed more than the listing price) with a listing price of $330k. Several things that caught my eye about this property was that it was 2 minutes from the highway on ramp, a 10 minute walk from the new light rail station, cash flow positive based on the rent numbers, and it was zoned for commercial use in an area surrounded by commercial properties. I made an offer of $300k for the property and the offer was eventually approved by the bank.
I found the property using Zillow while searching for multifamily properties in the greater Seattle area, the triplex had two 1 bedroom units and one 2 bedroom unit.
The rents were $690, $730, and $1000 respectively or $2420 total. At 25% down the monthly costs for mortgage, insurance, and taxes were about $1,500 with a 4.5% interest rate. I estimated about $300/month in maintenance and $200 in utilities for additional expenses. That would leave me about cashflow positive of about $420 a month. That’s about a 6% cash on cash return, it was nothing to write home about but I didn’t know any better at the time. I was just happy with the fact that it was cashflow positive. Of course at the time I didn’t account for any vacancies and definitely underestimated my maintenance expenses considering the age of the property.
The closing process went pretty smoothly despite being a short sale property. During the inspection contingency I did as much research about the property as I could. I checked the county records to look up the property history, previous sales, current and estimated property taxes, and any permits that were pulled for any renovations. Due to the unique zoning of the property, I made an appointment with the city permit department to learn more about the zoning benefits of the property. After speaking with a city planning representative they informed me that the property was a zero-lot-line property (meaning if developed the new structure can be built close to the edge of the property line), no parking spaces were required due to close public transit, and that the building height limit was going to be increased from 65 to 130 feet.
This was all very good news to me. After considering the current state of the property, I believed that if I had to sell the place down the road, it was more likely to be picked up by a developer instead of another landlord. What I learned from meeting with the city permit department was that the land would be worth a lot to any future developers.
Things I learned and things I wish I knew then:
I hope that my story will help and inspire you to go forth on your own journey of real estate investing. If you have any questions or would like to request a write up on a different topic, please post your response below!
submitted by excelphysicslab to personalfinance [link] [comments]

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