All Forum Posts by: Andrey Y.

I read a post on linkedIn from @Travis Watt, a fellow BP member, that posed the question, "Would you rather have 10k a month in passive income or $1,000,000? I thought it was a great question and I think it merits a great discussion. So I am posting it here hoping to get a lively discussion from this great group of investors.

So what would you rather have? 10k in passive monthly cashflow or $1,000,000? Please tell us why.

Obviously $10k a month in passive cash flow. But the question is misleading. $10k per month is $120k per year, and no one is getting that on $1MM invested. Not passively anyway (you said passive monthly cash flow). If you're honest about Cap Ex, and the time spent doing the management (any time at all spent on your real estate) yourself (at $50/hr.) your 12% return goes to 6% real fast. Even investing in syndications (the most passive way I've found to invest in real estate), you aren't getting 12% passive cash flow. 4-8% is very good. 12% as a total IRR or return is realistic but then again that is not "passive cash flow".

So in my opinion, the better question is $2MM or $10K/month in PASSIVE cash flow.

3 Votes

2% of your effort accounts for 98% of your returns in real estate. As soon as you cultivate this notion and put your efforts into the right place, the insights are life changing.

1 Vote

Originally posted by @Jonathan Sitorus:

Love this post, and as a newbie REI I needed a way to hold myself accountable on my RE journey and by posting them i believe it will help. Here's my list.

1) NETWORK locally with other investors and other like minded people, and Get out of my shell and be a more active member in the BP community.

2) Read more books and continue to educate myself not just in REI but in all aspects of life.

3) Take steps to become a home inspector (with this and my 10+ years in construction, I believe will bring something of value, which was one thing I struggled with when trying to build a team)

4) Aquire another small multifamily property.

As you can see most of my goals are small and personal as I am in the beginning of my RE journey and Im sure that more stuff will be added as time goes on. I hope you smash your goals Andrey. Good luck!!

Good luck to you as well! Here's to an amazing 2021. Keep me posted

0 Votes

Originally posted by @Josue Vargas:

My goals for 2021:

1. Keep healthy and don't get COVID and protect my family from it as well.

2. Be patient and try to keep buying properties (already closing on a SFR on Jan 25th).

3. Eat less meat and more veggies (ribeye's doesn't count!)

I am going to have to agree with you on the Ribeye bit. The best and most delicious cut of beef IMO! I'm curious, why do you want to eat less meat and more veggies.. what are your reasons?

0 Votes

Originally posted by @Dan M.:

I just wrote them down today although they need a little fine tuning

1) Make over 200,000 this year between w2, rental income, and real estate commissions

2) Be happy and comfortable with myself everyday

3) Get back into the miracle morning routine

4) Be on a normal schedule by June 2021 ( currently I work overnights at my w2)

5) Create meaning for my life. As Neil deGrasse Tyson stated something along the lines of "If you look for meaning you may never find it, recognize you have the power to manufacture meaning then you can create it"

Love it! I would ping you on #2 and #5. Goals generally need to be concrete, specific, and measurable. How do you plan on determining whether or not you met goal #2 and goal #5?

0 Votes

Originally posted by @Jay Hinrichs:

Vaccine small business return to some semblance of normalcy..

Has a vaccine been offered to you Jay? Which one would you take

1 Vote

I'll start - 2021 Goals

1. Increase net worth +500K (xMM NW)

2. Passive real estate net income $75K

3. Meditation goal (Personal, but similar to Stage IV on TMI scale)

4. Invest in 5 more passive private placements (over 20 invested)

5. Build my own dream house with a home gym and sauna

6. Tell my loved ones that I love them

7. Travel to three new countries in 2021

8. Read 10 native Chinese novels; 3K unique characters known, 6K vocabulary

9. Get to <5% of NW kept in equities (paper assets)

I will be updating in 6 months. What a year 2020 has been!

2 Votes

One of my favorite things about like-minded communities like BP is the ability to share your goals, challenges, and specific issues. Chances are, someone else out there has already been there, done that, and has experienced the challenges, and dreams that percolate through your own head every day.

After the Christmas Holidays (and perhaps a lot of travel and social restrictions - there are certainly these where I am), we have an opportunity to reflect on 2020, whether or not we hit our goals, lessons learned, and thinking about how we can kick of 2021 with a positive mindset of growth, equanimity, gratitude, and a healthy spirit.

I love these kinds of threads. Please share your goals for 2021 here, and lets hold each other accountable.

3 Votes

1. $250K annual income - Just met (W2 + RE)

2. 15 passive syndication investments by end of 2020. - Exactly met (15K-1s) (not active - total passive investments done.

3. +$500K NW (not met, but close, ~$384K)

4. Recognize and know 5000 Korean word meanings, conversational fluency. (Korean is done/change of heart, Mandarin is going very well - new goals for 2021)

5. Start selling individual properties (need to let go off one at least in 2020!) (DONE)

6. Travel to one new country per month through Sept. 2020, at least 12 countries visited. (I'll say DONE - was successful visiting one+ country per month from Jul '19 to Mar. '20)

1 Vote

All Forum Posts by: Andrey Y.

Andrey Y. has started 114 posts and replied 1827 times.

Post: Would you rather have 10k a month in passive income or $1,000,000

Post: Would you rather have 10k a month in passive income or $1,000,000

Post: 2% Rule

Post: My Goals for 2021 - What are Yours?

Post: My Goals for 2021 - What are Yours?

Post: My Goals for 2021 - What are Yours?

Post: My Goals for 2021 - What are Yours?

Post: My Goals for 2021 - What are Yours?

Post: My Goals for 2021 - What are Yours?

Post: My goals for 2020. What are yours?