Years ago, my hairdresser and I did both. I refinanced my house & took the $48k to FL tax sale auctions. I bought 10 tax sale houses for the back taxes due, and then wholesaled them to a rehabber. He bought all 10 from me at $125k each. I invested it in a REIT fund, which jumped 80%, wherein I cashed it out and SAVED it. My hairdresser bought her foreclosure gas station & made it into a 4-chair salon (making $5k month) and it had a rentable signboard ($2k month income) that you could see from the nearby highway. Against my advise, she then did the 10-business credit card stacking. Next, against my advice, she decided to "be the bank" & used her OWN money to build a $1+ million 8-bedroom house for a retired football player here. But a recession hit, and his car dealership went under. He walked away from the house she'd used her own money to build. With each credit card maxed out, & IRS then wanted their money, she went bankrupt between the two "money streams." LISTEN to your accountant. You can't bank on others making their payments to you - you can't predict human nature or recessions or pandemics. I SAVED mine, and 20 yrs later, still have no worries. Thanks for sharing - I wish you young people well!
Truly felt identified and agreeing with many points she touched on. Plus I learned a lot. I’m not a GenZ but I feel certain basics that help us feel happier blur out the generational boundaries.
Quiet quitting has always been a thing, probably since the dawn of capitalism. We just now have a cutesy name for it. I've always gone to work for the paycheck, the managers can preach all they want about putting in extra effort all they want. They've never rewarded extra effort in a reliable and meaningful way. So No! I'm not looking to make extra work for myself, I'm there for the paycheck so that I can survive and have the things I want.
Super refreshing to hear a young professional be so thoughtful in her messaging and advice. Well done and keep up your great work.
Years ago, my hairdresser and I did both. I refinanced my house & took the $48k to FL tax sale auctions. I bought 10 tax sale houses for the back taxes due, and then wholesaled them to a rehabber. He bought all 10 from me at $125k each. I invested it in a REIT fund, which jumped 80%, wherein I cashed it out and SAVED it.
My hairdresser bought her foreclosure gas station & made it into a 4-chair salon (making $5k month) and it had a rentable signboard ($2k month income) that you could see from the nearby highway. Against my advise, she then did the 10-business credit card stacking. Next, against my advice, she decided to "be the bank" & used her OWN money to build a $1+ million 8-bedroom house for a retired football player here. But a recession hit, and his car dealership went under. He walked away from the house she'd used her own money to build. With each credit card maxed out, & IRS then wanted their money, she went bankrupt between the two "money streams." LISTEN to your accountant. You can't bank on others making their payments to you - you can't predict human nature or recessions or pandemics. I SAVED mine, and 20 yrs later, still have no worries. Thanks for sharing - I wish you young people well!
Time is always the limit for me, after the 9 to 5, I need to work out and read more to do the job better...
Truly felt identified and agreeing with many points she touched on. Plus I learned a lot. I’m not a GenZ but I feel certain basics that help us feel happier blur out the generational boundaries.
I’m in the medical field. I need your help. 15 years burnt out 😭 millennial here
Scary if this is future...
Which business credit card has a 0% interest?? I need to know!
Chase Ink has 0% for 12 months
Quiet quitting has always been a thing, probably since the dawn of capitalism. We just now have a cutesy name for it. I've always gone to work for the paycheck, the managers can preach all they want about putting in extra effort all they want. They've never rewarded extra effort in a reliable and meaningful way. So No! I'm not looking to make extra work for myself, I'm there for the paycheck so that I can survive and have the things I want.
I’m not even that old (35) but this mentality is painful to watch
Wanted to listen but couldn't get over the valley girl uptalk and vocal fry. Ugh.