Why I Own The World

Chicat · Post by **Chicat** » Fri Feb 18, 2022 3:14 pm

Et tu, Wilbur?

dovecanyoncat · Post by **dovecanyoncat** » Wed Feb 23, 2022 7:50 am

I single-handedly got politics banned from the off-topic channel of a website I frequent when I'm not polluting this one. It took a few years and several stages. First Sarah's image was banned.Then Trump's gesticulating gif was banned. Then all politics were cancelled in order to protect snowflake Shiteaters who trigger at the sight of FRED graphs and links to BLS statistics.

I rule.

Merkin · Post by **Merkin** » Wed Feb 23, 2022 9:17 am

dovecanyoncat wrote: ↑Wed Feb 23, 2022 7:50 am I single-handedly got politics banned from the off-topic channel of a website I frequent when I'm not polluting this one. It took a few years and several stages. First Sarah's image was banned.Then Trump's gesticulating gif was banned. Then all politics were cancelled in order to protect snowflake Shiteaters who trigger at the sight of FRED graphs and links to BLS statistics.

I rule.

Well done. Politics was actually one of the reasons I left that board. The hatred coming out of supposed preachers and other conservatives was just too much.

Longhorned · Post by **Longhorned** » Wed Feb 23, 2022 10:23 am

Wait, there's some other board everybody's on? Or is it Wildcat Authority?

UAEebs86 · Post by **UAEebs86** » Wed Feb 23, 2022 10:36 am

I don't think dove was talking about WA like Merkin was.

Merkin · Post by **Merkin** » Wed Feb 23, 2022 10:53 am

UAEebs86 wrote: ↑Wed Feb 23, 2022 10:36 am I don't think dove was talking about WA like Merkin was.

What else was there? I just remember Scheer's site and TnT and Scheer dropping all the non-sports boards. The new PGU aka PPU?

I used to belong to a few others, but don't seem to recall them now.

Looks like uasports.net got shut down.

UAEebs86 · Post by **UAEebs86** » Wed Feb 23, 2022 10:58 am

Merkin wrote: ↑Wed Feb 23, 2022 10:53 am
UAEebs86 wrote: ↑Wed Feb 23, 2022 10:36 am I don't think dove was talking about WA like Merkin was.
What else was there? I just remember Scheer's site and TnT and Scheer dropping all the non-sports boards. The new PGU aka PPU?

I used to belong to a few others, but don't seem to recall them now.

Looks like uasports.net got shut down.

He didn't say it was a sports site.

dovecanyoncat · Post by **dovecanyoncat** » Wed Feb 23, 2022 11:12 am

Fear me.

ASUCatFan · Post by **ASUCatFan** » Mon Mar 28, 2022 5:58 pm

After losing my house almost a decade ago due to divorce, being sidelined due to the short sale of said house for a few years, renting, and worried that I might never be able to afford to own a home ever again, I had an offer accepted on a small condo today. I really wanted something with a yard, but in this market, I was thrilled to find something I could afford that wasn't inhabitable. I'm also happy to keep it out of the hands of an investor who would rent it out.

I'm hoping this isn't my forever home, but it's a hell of a lot better than renting again.

Merkin · Post by **Merkin** » Mon Mar 28, 2022 9:52 pm

Fantastic ASUCatFan!

Home prices are just crazy out west.

scumdevils86 · Post by **scumdevils86** » Mon Mar 28, 2022 10:17 pm

I bought a townhouse in 2005 for 100k. It was previously sold in 2000 for 50k. Then the crash happened and it bottomed out at a value of about 40k in 2011/2012. I finally sold it in 2020 for 75k. We probably could've gotten more for it but it was in bad shape with a lot of work needed that we could spend time or money on. I wouldn't be surprised if the buyers who have it now could sell it for close to 150k with some minor improvements and upgrades.

Hell my own house has allegedly gone up in value by almost 50% in 19 months.

scumdevils86 · Post by **scumdevils86** » Thu Mar 31, 2022 8:59 am

Boom. Between merit increases and a promotion I've had about a 25% raise since the beginning of the year. And I'm up for another potential promotion in the next month or two.

Chicat · Post by **Chicat** » Thu Mar 31, 2022 9:05 am

scumdevils86 wrote: ↑Thu Mar 31, 2022 8:59 am Boom. Between merit increases and a promotion I've had about a 25% raise since the beginning of the year. And I'm up for another potential promotion in the next month or two.

Now you can honestly say “what inflation?”

scumdevils86 · Post by **scumdevils86** » Thu Mar 31, 2022 9:23 am

Yea between inflation and having to pay a nanny $20/hr it basically wipes out these raises but whatever.

dovecanyoncat · Post by **dovecanyoncat** » Thu Mar 31, 2022 10:48 am

Credit Unioning like a boss.

ASUHATER! · Post by **ASUHATER!** » Mon Apr 04, 2022 5:35 pm

So I never post about my personal life since I'm just a private person, but have to about this. Last week I asked my girlfriend to marry me. We'd talked about it plenty already of course and she said yes (was never in doubt). She's the most wonderful person I've ever met and no doubt the love of my life. I admittedly was single a very long time and never thought I'd find someone but she and I are perfect for each other. We unfortunately are doing long distance for the time being since she lives in New Mexico and only see each other like once a month but she's waiting to hear if she got a job in Flagstaff that she really wants. But yeah, for once I feel like I own the world a little bit and am so happy to be engaged to this wonderful person.

Chicat · Post by **Chicat** » Mon Apr 04, 2022 6:00 pm

Dude, that’s awesome. Congrats to you & the future Mrs. ASUHATER.

ASUHATER! · Post by **ASUHATER!** » Mon Apr 04, 2022 6:12 pm

Couldn't be happier, now to just actually be able to be together all the time. We make it work since we love each other so much but damn long distance is hard.

Merkin · Post by **Merkin** » Mon Apr 04, 2022 6:37 pm

Woohoo, fantastic!

So does that mean you might move to Flag?

ASUHATER! · Post by **ASUHATER!** » Mon Apr 04, 2022 6:48 pm

Merkin wrote: ↑Mon Apr 04, 2022 6:37 pm Woohoo, fantastic!

So does that mean you might move to Flag?

If she gets the job then yeah 100% will be moving there

dovecanyoncat · Post by **dovecanyoncat** » Mon Apr 04, 2022 7:40 pm

Congrats! Here's hoping she makes a decent man out of you!

Carcassdragger · Post by **Carcassdragger** » Mon Apr 04, 2022 8:52 pm

Hey! That's awesome Hater! Thanks for sharing. You do own the world! Congrats man.

Longhorned · Post by **Longhorned** » Tue Apr 05, 2022 11:51 am

Congratulations! It's kind of magical to settle into a boring life at home together. You know, Tuesday night. I remember wanting that when going weeks apart between visits to Philadelphia, and worse when I was working in Turkey and Greece.

ASUHATER! · Post by **ASUHATER!** » Thu Apr 07, 2022 6:11 pm

Longhorned wrote: ↑Tue Apr 05, 2022 11:51 am Congratulations! It's kind of magical to settle into a boring life at home together. You know, Tuesday night. I remember wanting that when going weeks apart between visits to Philadelphia, and worse when I was working in Turkey and Greece.

Yeah just having a boring Tuesday at home sounds great to us right now. We usually get like 3-5 days together every 4-6 weeks currently.

Osborn · Post by **Osborn** » Fri Apr 08, 2022 11:11 am

ASUHATER! wrote: ↑Thu Apr 07, 2022 6:11 pm
Longhorned wrote: ↑Tue Apr 05, 2022 11:51 am Congratulations! It's kind of magical to settle into a boring life at home together. You know, Tuesday night. I remember wanting that when going weeks apart between visits to Philadelphia, and worse when I was working in Turkey and Greece.
Yeah just having a boring Tuesday at home sounds great to us right now. We usually get like 3-5 days together every 4-6 weeks currently.

Aw yes, "the happy days, the salad days, as they say."

Chicat · Post by **Chicat** » Fri Apr 08, 2022 11:13 am

ASUHATER! wrote: ↑Thu Apr 07, 2022 6:11 pm
Longhorned wrote: ↑Tue Apr 05, 2022 11:51 am Congratulations! It's kind of magical to settle into a boring life at home together. You know, Tuesday night. I remember wanting that when going weeks apart between visits to Philadelphia, and worse when I was working in Turkey and Greece.
Yeah just having a boring Tuesday at home sounds great to us right now. We usually get like 3-5 days together every 4-6 weeks currently.

At least the sex must be energetic…

UAEebs86 · Post by **UAEebs86** » Fri Apr 08, 2022 11:16 am

When I worked for Motorola, the manager of our technician team told me one of his guys was upset with his travel schedule.

I asked if he wanted to be home with his wife more. He said no, he's actually been mostly working in his home market lately, and wants to get back out on the road.

ASUHATER! · Post by **ASUHATER!** » Fri Apr 08, 2022 11:20 am

Chicat wrote: ↑Fri Apr 08, 2022 11:13 am
ASUHATER! wrote: ↑Thu Apr 07, 2022 6:11 pm
Longhorned wrote: ↑Tue Apr 05, 2022 11:51 am Congratulations! It's kind of magical to settle into a boring life at home together. You know, Tuesday night. I remember wanting that when going weeks apart between visits to Philadelphia, and worse when I was working in Turkey and Greece.
Yeah just having a boring Tuesday at home sounds great to us right now. We usually get like 3-5 days together every 4-6 weeks currently.
At least the sex must be energetic…

dovecanyoncat · Post by **dovecanyoncat** » Fri Apr 08, 2022 2:18 pm

Sounds like you've got her right where she wants you.

scumdevils86 · Post by **scumdevils86** » Wed Apr 13, 2022 4:49 pm

Just had my second promotion in a week come through. Nice raise and a whole new set of responsibilities but I'm excited. I'm managing a great team and have an incredible boss.

84Cat · Post by **84Cat** » Wed Apr 13, 2022 4:52 pm

You must be killing it at work, Congrats!

dovecanyoncat · Post by **dovecanyoncat** » Wed Apr 13, 2022 9:41 pm

Pffft, don't get a big head, they appreciate your beautiful daughter, and clearly they want to backstop your wife and her questionable taste in men.

scumdevils86 · Post by **scumdevils86** » Wed Apr 13, 2022 10:54 pm

dovecanyoncat wrote: ↑Wed Apr 13, 2022 9:41 pm Pffft, don't get a big head, they appreciate your beautiful daughter, and clearly they want to backstop your wife and her questionable taste in men.

Ain't that a fact

97cats · Post by **97cats** » Mon Apr 18, 2022 3:20 pm

big day for me - about 8 minutes ago i completed the up leg on the largest personal exchange so far in my tiny little career. yes i am a part of the equity stack not the whole thing, but its numbing and scary non-the-less.

ive exchanged forward many times but nothing like this - most money ive ever moved forward by a bunch...sometimes i wonder how i got to this point?

today in the moment after 18months of driving work it almost feels fake.

third time in 10 years ive had a significant personal business event that will change my life, again.

beyond humbled...

Go Cats!!

azcat49 · Post by **azcat49** » Mon Apr 18, 2022 3:31 pm

Good luck and knowing how savvy you are I am sure it will pay off handsomely! Hopefully you are all over the Sr position and in the drivers seat risk wise

97cats · Post by **97cats** » Mon Apr 18, 2022 3:38 pm

azcat49 wrote: ↑Mon Apr 18, 2022 3:31 pm Good luck and knowing how savvy you are I am sure it will pay off handsomely! Hopefully you are all over the Sr position and in the drivers seat risk wise

its a $43m dollar exchange and the stack is $21.5m - i have a portion of that as my contributed capital and its a five year redevelopment.

i exchanged in from three deals we sold in in the fall and didnt take any proceeds, i rolled it all forward so this is the third time ive moved the money.

our firm doesnt raise equity or work on promote, its a family office so its all organically funded on the equity side.

the catch is its hard to get in unless you have money, i have made good money on other projects and over the last 10 years have able to build a nice portfolio and make partner.

in the last six months ive traded into three assets totaling around $80m dollars - the equity is a little better than half that number and i have a portion of that half invested.

for a little small private guy like me its pretty exciting, and terrifying but i tell ya, passive income is the only way to fly.....

dovecanyoncat · Post by **dovecanyoncat** » Mon Apr 18, 2022 4:12 pm

I have no earthly idea what you're describing, but it sounds absolutely boss and badass. Perseverance conquers all! Congrats 97!!!!

azgreg · Post by **azgreg** » Mon Apr 18, 2022 4:13 pm

dovecanyoncat wrote: ↑Mon Apr 18, 2022 4:12 pm I have no earthly idea what you're describing, but it sounds absolutely boss and badass. Perseverance conquers all! Congrats 97!!!!

He had me at $43 million.

dovecanyoncat · Post by **dovecanyoncat** » Mon Apr 18, 2022 4:14 pm

azgreg wrote: ↑Mon Apr 18, 2022 4:13 pm
dovecanyoncat wrote: ↑Mon Apr 18, 2022 4:12 pm I have no earthly idea what you're describing, but it sounds absolutely boss and badass. Perseverance conquers all! Congrats 97!!!!
He had me at $43 million.

A staggering number.

GlobalCat · Post by **GlobalCat** » Mon Apr 18, 2022 4:25 pm

97cats wrote: ↑Mon Apr 18, 2022 3:38 pm
azcat49 wrote: ↑Mon Apr 18, 2022 3:31 pm Good luck and knowing how savvy you are I am sure it will pay off handsomely! Hopefully you are all over the Sr position and in the drivers seat risk wise
its a $43m dollar exchange and the stack is $21.5m - i have a portion of that as my contributed capital and its a five year redevelopment.

i exchanged in from three deals we sold in in the fall and didnt take any proceeds, i rolled it all forward so this is the third time ive moved the money.

our firm doesnt raise equity or work on promote, its a family office so its all organically funded on the equity side.

the catch is its hard to get in unless you have money, i have made good money on other projects and over the last 10 years have able to build a nice portfolio and make partner.

in the last six months ive traded into three assets totaling around $80m dollars - the equity is a little better than half that number and i have a portion of that half invested.

for a little small private guy like me its pretty exciting, and terrifying but i tell ya, passive income is the only way to fly.....

CRE?

97cats · Post by **97cats** » Mon Apr 18, 2022 4:41 pm

dovecanyoncat wrote: ↑Mon Apr 18, 2022 4:12 pm I have no earthly idea what you're describing, but it sounds absolutely boss and badass. Perseverance conquers all! Congrats 97!!!!

thx my man and just to be clear i am on the principal side, dont hold a RE license and dont make commission(s).

in the last 18months the market has been on fire and assets we've owned for many years became over market commodities. i was a partner on several of those assets that sold and my minority portion was not cashed out as payment to me - rather i elected to take 100% of my profits and roll them forward in a 1031 exchange so i dont pay taxes on it.

it allows me to aquire more real estate and if bought and leveraged appropriately creates passive cashflow while still owning the fee and improvements...and there is huge upside in these properties to be redeveloped (thats what our firm does) increasing the income and driving value. during operations and on the sunset side my equity plays differently.

its pretty unreal how hard it was to get here. my parents didnt give me money to play with and my family didnt own the company. for about 15 years i made a good living but couldnt quite get in the equity game, i was always on the fee and operations side of the profits because i wasnt liquid enough to invest but once i took the plunge and popped my cherry i was able to use that profit and was off and running....

the last 10 years i have been able to take my profits and buy more real estate in a minority and somewhat shielded position.

in this instance, i took the profits from six sales in the last three months and didnt touch a penny and rolled it into about $80m dollars worth of value and core commercial real estate - we are 50% less LTV company and have relationship lenders so we are very conservative so the combined equity stack is about $40m and i have percentage of my own money represented as equity.

the deal i closed today was the third of the three exchanges and accounts for over half of the cover.

my portion rolled over today was more than i ever said i would roll, but im in a position now where the passive income outkicks the equity.

its a life changer again for me and my kids....

GlobalCat · Post by **GlobalCat** » Mon Apr 18, 2022 5:02 pm

97cats wrote: ↑Mon Apr 18, 2022 4:41 pm
dovecanyoncat wrote: ↑Mon Apr 18, 2022 4:12 pm I have no earthly idea what you're describing, but it sounds absolutely boss and badass. Perseverance conquers all! Congrats 97!!!!
thx my man and just to be clear i am on the principal side, dont hold a RE license and dont make commission(s).

in the last 18months the market has been on fire and assets we've owned for many years became over market commodities. i was a partner on several of those assets that sold and my minority portion was not cashed out as payment to me - rather i elected to take 100% of my profits and roll them forward in a 1031 exchange so i dont pay taxes on it.

it allows me to aquire more real estate and if bought and leveraged appropriately creates passive cashflow while still owning the fee and improvements...and there is huge upside in these properties to be redeveloped (thats what our firm does) increasing the income and driving value. during operations and on the sunset side my equity plays differently.

its pretty unreal how hard it was to get here. my parents didnt give me money to play with and my family didnt own the company. for about 15 years i made a good living but couldnt quite get in the equity game, i was always on the fee and operations side of the profits because i wasnt liquid enough to invest but once i took the plunge and popped my cherry i was able to use that profit and was off and running....

the last 10 years i have been able to take my profits and buy more real estate in a minority and somewhat shielded position.

in this instance, i took the profits from six sales in the last three months and didnt touch a penny and rolled it into about $80m dollars worth of value and core commercial real estate - we are 50% less LTV company and have relationship lenders so we are very conservative so the combined equity stack is about $40m and i have percentage of my own money represented as equity.

the deal i closed today was the third of the three exchanges and accounts for over half of the cover.

my portion rolled over today was more than i ever said i would roll, but im in a position now where the passive income outkicks the equity.

its a life changer again for me and my kids....

Amazing- 1031 exchanges are something I wish I would have learned about early in life. IRAs, Roths, etc are helpful, but the real estate guys can be massive wealth builders through the tax game alone!

Carcassdragger · Post by **Carcassdragger** » Mon Apr 18, 2022 5:13 pm

I'm in the middle of my second 1031 exchange in two years. In each case, it's just an older single rental house for a new single rental house. But I have no idea what the rest is that 97 is talking about.

azgreg · Post by **azgreg** » Mon Apr 18, 2022 5:15 pm

UAEebs86 · Post by **UAEebs86** » Mon Apr 18, 2022 5:24 pm

I saved 15 percent on my car insurance by switching to GEICO.

GlobalCat · Post by **GlobalCat** » Mon Apr 18, 2022 5:39 pm

Carcassdragger wrote: ↑Mon Apr 18, 2022 5:13 pm I'm in the middle of my second 1031 exchange in two years. In each case, it's just an older single rental house for a new single rental house. But I have no idea what the rest is that 97 is talking about.

I think it is amazing what companies can spring up around mundane real estate tax laws. case in point: https://www.flockhomes.com

Carcassdragger · Post by **Carcassdragger** » Mon Apr 18, 2022 7:18 pm

GlobalCat wrote: ↑Mon Apr 18, 2022 5:39 pm
Carcassdragger wrote: ↑Mon Apr 18, 2022 5:13 pm I'm in the middle of my second 1031 exchange in two years. In each case, it's just an older single rental house for a new single rental house. But I have no idea what the rest is that 97 is talking about.
I think it is amazing what companies can spring up around mundane real estate tax laws. case in point: https://www.flockhomes.com

Holy cow! This is a revelation! I own several rental homes and a couple have been wrecked by renters. I've finally gotten them back up to snuff but I've been thinking I want to get out of this business before I lose all faith in humanity. I was concerned about capital gains taxes if i lquidated . If this is legit, it may be a perfect option for me.

GlobalCat · Post by **GlobalCat** » Mon Apr 18, 2022 8:57 pm

I remembered an earlier post that was related, but couldn't remember the poster. They just did a Series A raise with Andreesen Horowitz, so they are still early, but have one of the biggest/most prestigious names in venture capital backing them.

I'm sure there are other companies doing 721 exchanges into REITs out there too.

Chicat · Post by **Chicat** » Fri Apr 22, 2022 9:08 am

Just got a 10% raise after not even being in my current gig for a year.

Not too shabby…

Longhorned · Post by **Longhorned** » Fri Apr 22, 2022 9:42 am

We're rumored to be up for a 2% raise.

Dante would place 97cats in the seventh ring of hell.

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