WSPs – As mentioned previously, recently laid off from IB (after 4 years as an analyst). Looking for another IB gig or Corp Dev, but not sure if it’s right for me given underperformance as an analyst.
Do I cut my losses and try to move into tech sales or stick with IB (given my poor track record at two firms, not sure if Associate+ will get better)? Would have to start fresh in a tech sales career in late 20s (and not able to leverage 4 years of IB experience)
Performance review: poorer attention to detail, lower quality work product relative to peers, and general disinterest (based on creating endless pitch material and small excel modeling errors)
Just saw the tweet “if you can’t figure out how to be a high quality worker in a career: politics + high performance
Chances of failure in online business is probably 2-300% higher”
Don’t want to beat a dead horse, but should I try to improve my skills – attention to detail issues and modeling – or just cut the cord with IB?
Already have a decent number of data points against continuing on, but willing to give it another shot (opportunity cost of leaving IB track is significant).
Then give it another shot, based on your questions seems like you want one more go at it.
WSPJuniorsays
Can you give some advice to current college students who have lost their internships due to COVID-19 on how to best utilize this summer?
I lost my business development internship which was crucial for me entering software sales upon graduation. Been reaching out to VPs and senior AEs for advice/pitching them on an unpaid internship for summer (no other choice as virtual internships for sales is difficult for employers imo). Think that’s the right move given the current business environment?
A long time ago, someone made a good comment on here that I didn’t really understand at the time but now do.
Do exactly what your internship would’ve had you do anyway: prospect
Find a simple tech product that gives affiliate commission, understand the target market, build an excel sheet of companies, find contacts
You’ve got a lot of things working against you (no established sales strategy, no crm, no contact database etc) but no doubt you’ll impress interviewers for entry sales roles
First time participating in one of these Q and As. Yes, I’m aware the time is over.
This is why I like to go back to blog posts and books I’ve seen over the years that didn’t make sense. Some things make more sense when you get more life and business experience.
Junior’s only problem is probably not taking extreme action since there’s so much information out there. In real life I’d suggest finding an older mentor, watch what he does, and try to keep up with him. Preferably in real life, preferably 5-10 years older. Even in this room I’m a small fish. Biggest mistake I’ve made in my career so far is not getting into the online sector sooner. Wisest decision, and other people will echo this, is not getting more advanced degrees. Lol at one of the comments here that getting an advanced degree will make you a weirdo. Truer words have never been spoken.
Gemini is the custodian. Thoughts on this? Greater exposure to bitcoin to the general public, also we can now be investing in bitcoin as a stock, within our tax free savings accounts. No more taxable capital gains, correct?
In Canada we have something called a TFSA (Tax Free Savings Account) There’s a limit of 6k or so per year (accumulates if not all used) in which you don’t pay capital gains tax.
I agree with holding your own coins, and yet with the potential upside of BTC (over the stocks that you would otherwise hold in the account) the lack of capital gains tax is tempting. Thoughts?
So I’m 31, getting deployed thanks to COVID 19. Have ~$20k or so, best use for it? Dump it all in bitcoin (Sounds reckless to me) ?
Data Scientist so not too worried about employment when I get back.
And a good idea to use VA loans to buy some distressed properties?
Answered on this post, nothing just start a second stream of income
Do not know how VA loans work (never used them) our path was 1) banking, 2) online sales, 3) use online sales to buy RE
Broadly the space is growing a bit slower than expected across the board. The good news is scalability has finally improved which is great for the future in general.
Still working W2 ~$150k. Most of my wealth has come from real estate (flips and rentals).
Rentals: 20 doors, ~$40k net annual cash flow right now.
Flips: made $120k in 2019, should make $400k-$550k this year.
Was planning on leaving my career to focus on RE full time by end of summer. Critical to offset the capital gains by using my built up depreciation plus buying a commercial property ($1.5-2MM) in mid summer for the rest of the needed depreciation.
Flips haven’t been affected (yet). My target customers are all first time millennial home buyers and I think right now they are trying to get the fuck out of their apartments! White collar ones haven’t lost their jobs (yet).
Hopefully I could benefit from commercial RE crash by buying around that time too. Must buy by end of year at the latest.
By doing all this I would still end the year with a few years of cash (have also been buying gold and crypto lately per your recs.)
Bottom line: I’m struggling with the idea of quitting my job in the middle of a possible depression. Should I suck it up or re-evaluate?
Sorry, I guess my question wasn’t clear. I need to either:
A. Quit at summers end. Focus on real estate full time And scale. Save ~$250k in taxes. Will have enough cash flow to survive from rentals and 3 years cash/crypto/gold savings.
Or
B. Keep working making $150k but have to pay $250k taxes for 2020.
Not sure why you would have to pay taxes by keeping a job? Doesn’t seem to add up?
If you are sure that you can get another job (or go back) after this tax year then do option A
Prince of pointssays
Scenario A I can use real estate professional status to offset cap gains (and w2 of 3/4 of year) with rental depreciation. Just need to prove I worked more in real estate than W2.
Depends on the niche, rich people will always be around
If you can market it as new somehow you have a shot, but that industry is all about ego/insecurities so have to be extremely careful about positioning the product
Still works but we’ve always recommended having a back up way to make small money if needed. Even if it only pays food/living expenses. Better for your mental health and allows you a worst case scenario to plan for
Hi WSPs, really appreciate your work. Thanks for all your help!
For people that still have 401k even if they are not adding more when the market is overvalued, should they let their 401k have the possibility of dropping 50% in a bear market (and needing 100% return to be even over several years)? Or re-balance stocks into bonds or defensive stocks for wealth preservation when market goes down 10-15% and buy back in later when market is less volatile and up again (this is what financial advisor recommended)? Just wondering your take on this.
You’re not going to like this but we don’t include 401K in net worth. You should basically just get the company match or get the amount that lowers your tax bracket.
Stick with mix dollar cost averaging into S&P, reits etc. You should focus all your time thinking about income streams, things like this shouldn’t even be on your list of questions
I feel what you’re saying on that, since you can’t touch that money til 59.5.
psays
What cities do y’all recommend living in over the coming few years? Put differently, do y’all recommend sticking around the NY area over the next two to three years?
Currently, 26 yo software engineer in NYC with a few years of experience. The past month has made san francisco look more appealing: center of tech scene, better management of virus, more health focus. However, it also seems like a good opportunity to buy cheaper NY real estate.
Been following efficiency but all my online ventures have failed so far.
In January I decided to focus on freelance copywriting for a year just to really get my skills up before jumping back into online biz.
But this month I had a new product idea where I *think* I could dominate.
Do I try to “juggle” both (plus career)? Or stick with copywriting for now and come back to the idea once other people are telling me I’m good/great at copywriting?
Juggle both for sure, unless you really didn’t learn much the whole time. If so, then you should learn copywriting skills until you’re comfortable with your selling abilities
Been battling an injury for a year or so. Sciatica on one side. Nothing shows up on X-ray or MRI structurally for hips or lower back but mobility and strength limited on one side and pain flares when lifting or running. Any advice for these types of injuries?
Just want to make a recommendation, would look into a pressure massager. This is not from personal experience but I have been writing copy for my friends e-commerce store who sells these things. From the research I’ve done they apparently work great! They are a few hundred bucks and can actually massage deeper into your muscles than human hands. I’m sure using one everyday would at least bring some pain relief, although doubt it would completely solve a larger problem
Also just want to clarify, I am giving this recommendation specifically for sciatica, since I have written many blog posts on how daily percussion massager use can help with sciatic nerve pain.
Also my apologies I mean a percussion massager, not pressure as I said In the above comment
ACsays
I battled a similar one, I don’t know if it will help but here it goes:
I did electromyography on legs to find out if a nerve was pinched and how much.
Highly skillful orthopedic told me to do physiotherapy.
Highly skillful physiotherapist (in a sports team) helped me unblock a bunch of stuff through various techniques (pressure, acupuncture and more) + daily exercises to increase core strength.
I am based in Europe, what different consequences will the crisis have, compared to the US ?
Is the portfolio: 1) Crypto 2) Gold 3) Cash also the best one to adopt ?
What are your forecasts for the gambling market ? Especially for 100% online operators.
1) we don’t know as we don’t live there so would be useless. If you want an opinion no real change from USA. Unemployment hike more tech being used. Would remain cash/gold/crypto and look for cheap real estate in 3-6 months (again don’t know foreclosure laws tehre)
2) Gambling should be fine, much more competition though as algos take over the spreads
what are your top 3 books for foundational knowledge on skincare/collagen? You’ve listed a few for copywriting.. want to know the same for skincare.. (Taking preventative Measures for myself)
gotcha! No skin problems here. Your ‘Spending’ book specifically mentioned reading up on collagen/blood flow etc. I figured there’d be at least one or two credible sources that provide baseline knowledge (could be wrong but there usually is).
Mshiddensecretsays
Are you part of any association/club? I.e young entrepreneur council. Any you would recommend for networking?
Can confirm. If not build up skills first, it’s likely be miserable *even if* you can game the system and get yourself a nice role. Since you kind of over-promised your potential employer/business partner but you underdeliver as time goes by… Not a healthy long-term strategy.
Anonymoussays
Have you guys dealt with jock itch before?
Embarrassing to talk about but conventional methods have not helped me just keeps it tame.
The last few posts have been great. Thanks for staying active with incredibly useful info!
1) Do you think lower priced residential real estate (cashflowing SFH, small multis in smaller markets) will be hit hard as well in ~120 days? Was in the market to buy / hold and buy/flip some properties right before covid hit.
2) Who are some of the active affiliate marketers / digital products (and their websites/twitters) right now that are killing it?
3) From another Q up there: ^ “yes we think it goes down from here and noted fair value is around 2,200-2,300. Somehow we got the bottom right and rebought but went back to neutral again at 2640 (no longer buying)”
Curious when did you guys sell your s&p initially before rebuying at bottom? Or do you mean you just started buying again at the bottom (without selling previously)?
1) yes of course the apartments are levered up and rented out to people not paying
2) Pretty much every single one of them honestly. We’re making a killing (not referring to blog) its almost mind boggling 4-5x
3) This is answered in the prior posts which you claim to have read! Ha!
in regards to #3.. I remember you guys mentioning you would just hold cash / buy crypto, no more buying stocks and would announce when you would sell hahah.
So just curious if you did end up selling at all at some point or stuck with just rebalancing % of NW with cash flow.
Long time reader – first time participating in Q&A.
What long term macro trends are most interesting to you for B2B service businesses? (Examples would be #metoo giving a post to HR Compliance Businesses)
Practical suggestions to stay sane right now while stuck at home? Even just a link to an article or blog post elsewhere. Definitely feeling a bit irate the past few days. I’ve heard meditation or whatever could help but I have no idea where to begin.
39 M. Work in a University as Financial Administrator ($130K/year), have 13 units of Buy and Hold Real Estate ($159K/gross; $36k/net). I realize that I am very late to the game.
Looking to get a CPA license to open an online accounting practice, bid on Gov’t contracts as a side gig. Even if the business doesn’t pan out as planned, the credential will help me with a higher paying job.
Is it worth pursuing the CPA + online practice path?
We wouldn’t waste time with it personally, would read our books instead. That isn’t scalable and is too slow. But if you just need some more money and don’t plan on getting rich it’ll work
Given some of your tweets on levering up at the bottom – thoughts on SPXL or similar as a long term hold (until the next peak) for when that time comes? Already assuming emergency fund and so forth is taken care of. This is money I’m talking about that could safely be deployed for 8-10 years and not drawn down at all, necessary due to the extreme volatility that an ETF like that will have. Thoughts?
Hi, I’ve accepted a place at a top tier university in the UK, course starting this year, and am then aiming for M&A as that is where I’m best suited based off my intelligence type.
How do you think corona will affect recruiting and internships in the next few years?
Small time RE investor (buy and hold, fix and flips). Currently working a W-2 career in software sales to supplement RE business. I’ve gained footing with an investor who’s interested in partnering, which can open the doors with other potential investors (all HNW). What do you consider as the best route for growing the business – fund of property development? I’m in my twenties with a small, but proven, track record. Looking to do RE full-time.
Thanks again for all your guidance throughout the years.
What niche B2B SaaS companies are most attractive going forward?
My suspicion is that remote working will increase over the long term, benefiting talent management platforms for white collar industries but I would love additional insight on other areas that will win.
1) If you had a company with say 100 employees and you faced a possible recession like the one that’s probably coming, would you, instead of laying off people and cutting costs, instead increase their salaries, market more aggressively and aim for total domination, once things would start picking up again?
2) Excactly where and how do you identify the booming markets based on the Coronavirus and the upcoming recession?
3) Now that Cannabis is legal to grow and cultivate in so many states, would you agree that CBD oil has potential for being a surging market, especially given the large number of old baby boomers who are retired, unhealthy and overweight?
1) probably not, thats too big of a company would cut for sure and automate
2) do not know yet, it will appear in 3-4 months
3) again not sure, that could easily be monopolized by big tobacco long-term
Does being a trade qualified horticulturalist count as a trade?
I am one and was thinking of ways to make it work such as start a lawn care business, backyard nursery etc. Is this viable or am I much better of going into any of the other mentioned trades?
Due to some bad luck, was laid off from software engineering job prior to pandemic.
Taking your advice about sales, was working on switching to sales/sales engineering when the pandemic hit, got lots of ongoing sales interviews cancelled.
Would you think that this would be a tough time to try and make a career switch from SWE to Sales? A lot of companies have hiring freeze and not getting good traction with Sales job leads, but still get steady amount of recruiting calls for Software engineering jobs.
Would it be wise to make the move to sales career now or just find a SWE job in the meanwhile to wait out the storm?
1) impossible to answer depends on your selling style, the major categories are in the book
2) nothing just significantly more competitive and more bans etc. Competition goes up in every industry every day
3) A ton pretty much all free time until making significant money. No time for “partying” except 1x a week as we knew relying on someone else for livlihood was foolish
What are all the stoicism beliefs you follow? (one is worry about what you can control). I’d like to be as close to tranquil as possible.
That is pretty much it honestly
WSPs – As mentioned previously, recently laid off from IB (after 4 years as an analyst). Looking for another IB gig or Corp Dev, but not sure if it’s right for me given underperformance as an analyst.
Do I cut my losses and try to move into tech sales or stick with IB (given my poor track record at two firms, not sure if Associate+ will get better)? Would have to start fresh in a tech sales career in late 20s (and not able to leverage 4 years of IB experience)
Performance review: poorer attention to detail, lower quality work product relative to peers, and general disinterest (based on creating endless pitch material and small excel modeling errors)
Open to any recommendations/advice.
Thanks
That is your call, corp dev may be better. Less strict same skill set more hours to scale a side business
If it wasn’t politics (and your skills were really actually bad) then don’t go back into IB
Just saw the tweet “if you can’t figure out how to be a high quality worker in a career: politics + high performance
Chances of failure in online business is probably 2-300% higher”
Don’t want to beat a dead horse, but should I try to improve my skills – attention to detail issues and modeling – or just cut the cord with IB?
Already have a decent number of data points against continuing on, but willing to give it another shot (opportunity cost of leaving IB track is significant).
Then give it another shot, based on your questions seems like you want one more go at it.
Can you give some advice to current college students who have lost their internships due to COVID-19 on how to best utilize this summer?
I lost my business development internship which was crucial for me entering software sales upon graduation. Been reaching out to VPs and senior AEs for advice/pitching them on an unpaid internship for summer (no other choice as virtual internships for sales is difficult for employers imo). Think that’s the right move given the current business environment?
Thanks
Yeah that is tough, you should actually reach out and ask for an unpaid internship as a backup since you already got an offer.
We usually NEVER recommend this, but it could be worth a shot. Experience is more important if everyone is out of work
A long time ago, someone made a good comment on here that I didn’t really understand at the time but now do.
Do exactly what your internship would’ve had you do anyway: prospect
Find a simple tech product that gives affiliate commission, understand the target market, build an excel sheet of companies, find contacts
You’ve got a lot of things working against you (no established sales strategy, no crm, no contact database etc) but no doubt you’ll impress interviewers for entry sales roles
Great advice
First time participating in one of these Q and As. Yes, I’m aware the time is over.
This is why I like to go back to blog posts and books I’ve seen over the years that didn’t make sense. Some things make more sense when you get more life and business experience.
Junior’s only problem is probably not taking extreme action since there’s so much information out there. In real life I’d suggest finding an older mentor, watch what he does, and try to keep up with him. Preferably in real life, preferably 5-10 years older. Even in this room I’m a small fish. Biggest mistake I’ve made in my career so far is not getting into the online sector sooner. Wisest decision, and other people will echo this, is not getting more advanced degrees. Lol at one of the comments here that getting an advanced degree will make you a weirdo. Truer words have never been spoken.
The first bitcoin fund has been listed on Toronto Stock Exchange! QBTC https://web.tmxmoney.com/quote.php?qm_symbol=QBTC.U&locale=en
Gemini is the custodian. Thoughts on this? Greater exposure to bitcoin to the general public, also we can now be investing in bitcoin as a stock, within our tax free savings accounts. No more taxable capital gains, correct?
Not your keys not your coins.
In Canada we have something called a TFSA (Tax Free Savings Account) There’s a limit of 6k or so per year (accumulates if not all used) in which you don’t pay capital gains tax.
I agree with holding your own coins, and yet with the potential upside of BTC (over the stocks that you would otherwise hold in the account) the lack of capital gains tax is tempting. Thoughts?
That’s your call we don’t know all the tax rules. That said we’d still just prefer to own the keys
Trump at -400 to win Texas (via electoral votes).
Texas hasn’t voted blue since the 80s.
Free money?
Haven’t looked on state by state but if it simply means he wins, then yes looks good
So I’m 31, getting deployed thanks to COVID 19. Have ~$20k or so, best use for it? Dump it all in bitcoin (Sounds reckless to me) ?
Data Scientist so not too worried about employment when I get back.
And a good idea to use VA loans to buy some distressed properties?
Answered on this post, nothing just start a second stream of income
Do not know how VA loans work (never used them) our path was 1) banking, 2) online sales, 3) use online sales to buy RE
What are your thoughts on Zcash development in 2020? Is it matching up to your expectations?
Broadly the space is growing a bit slower than expected across the board. The good news is scalability has finally improved which is great for the future in general.
So for now behind but that’s the name of the game
Still working W2 ~$150k. Most of my wealth has come from real estate (flips and rentals).
Rentals: 20 doors, ~$40k net annual cash flow right now.
Flips: made $120k in 2019, should make $400k-$550k this year.
Was planning on leaving my career to focus on RE full time by end of summer. Critical to offset the capital gains by using my built up depreciation plus buying a commercial property ($1.5-2MM) in mid summer for the rest of the needed depreciation.
Flips haven’t been affected (yet). My target customers are all first time millennial home buyers and I think right now they are trying to get the fuck out of their apartments! White collar ones haven’t lost their jobs (yet).
Hopefully I could benefit from commercial RE crash by buying around that time too. Must buy by end of year at the latest.
By doing all this I would still end the year with a few years of cash (have also been buying gold and crypto lately per your recs.)
Bottom line: I’m struggling with the idea of quitting my job in the middle of a possible depression. Should I suck it up or re-evaluate?
The more painful answer is usually the right one, so we know the answer, suck it up. When you’re making money no reason to give it up
Sorry, I guess my question wasn’t clear. I need to either:
A. Quit at summers end. Focus on real estate full time And scale. Save ~$250k in taxes. Will have enough cash flow to survive from rentals and 3 years cash/crypto/gold savings.
Or
B. Keep working making $150k but have to pay $250k taxes for 2020.
Not sure why you would have to pay taxes by keeping a job? Doesn’t seem to add up?
If you are sure that you can get another job (or go back) after this tax year then do option A
Scenario A I can use real estate professional status to offset cap gains (and w2 of 3/4 of year) with rental depreciation. Just need to prove I worked more in real estate than W2.
Thanks!
Hmm would look into that pretty sure you can claim both? Definitely reach out to a RE focused tax person
Esp if its under a company versus your name
Q: “forever portfolio”/asset allocation for $5-10m/40+ years old?
Forever portfolio is 25% stocks, 25% bonds/cash, 25% gold/crypto and 25% international assets. Rebalance every 2-4 years so you catch full cycles
With the current circumstances do you think selling premium clothing to rich people is or will be profitable? or should i focus on other niche?
Depends on the niche, rich people will always be around
If you can market it as new somehow you have a shot, but that industry is all about ego/insecurities so have to be extremely careful about positioning the product
25x expenses still a viable “rule”
Have more but feeling nervous
Still works but we’ve always recommended having a back up way to make small money if needed. Even if it only pays food/living expenses. Better for your mental health and allows you a worst case scenario to plan for
Hi WSPs, really appreciate your work. Thanks for all your help!
For people that still have 401k even if they are not adding more when the market is overvalued, should they let their 401k have the possibility of dropping 50% in a bear market (and needing 100% return to be even over several years)? Or re-balance stocks into bonds or defensive stocks for wealth preservation when market goes down 10-15% and buy back in later when market is less volatile and up again (this is what financial advisor recommended)? Just wondering your take on this.
You’re not going to like this but we don’t include 401K in net worth. You should basically just get the company match or get the amount that lowers your tax bracket.
Stick with mix dollar cost averaging into S&P, reits etc. You should focus all your time thinking about income streams, things like this shouldn’t even be on your list of questions
I feel what you’re saying on that, since you can’t touch that money til 59.5.
What cities do y’all recommend living in over the coming few years? Put differently, do y’all recommend sticking around the NY area over the next two to three years?
Currently, 26 yo software engineer in NYC with a few years of experience. The past month has made san francisco look more appealing: center of tech scene, better management of virus, more health focus. However, it also seems like a good opportunity to buy cheaper NY real estate.
For career? Just follow the money
Once you’re up and running with an online biz? then go to a tax free state
Trying to predict an exact city isn’t a good use of time
Been following efficiency but all my online ventures have failed so far.
In January I decided to focus on freelance copywriting for a year just to really get my skills up before jumping back into online biz.
But this month I had a new product idea where I *think* I could dominate.
Do I try to “juggle” both (plus career)? Or stick with copywriting for now and come back to the idea once other people are telling me I’m good/great at copywriting?
Juggle both for sure, unless you really didn’t learn much the whole time. If so, then you should learn copywriting skills until you’re comfortable with your selling abilities
Would you suggest ramping on the ads in 2H? At least for white had lead gen with Facebook.
Yes would ramp up as soon as economy opens up maybe a week earlier to tweak it
Been battling an injury for a year or so. Sciatica on one side. Nothing shows up on X-ray or MRI structurally for hips or lower back but mobility and strength limited on one side and pain flares when lifting or running. Any advice for these types of injuries?
Do not know this one, would see a private doctor who specializes in that particular injury
Just want to make a recommendation, would look into a pressure massager. This is not from personal experience but I have been writing copy for my friends e-commerce store who sells these things. From the research I’ve done they apparently work great! They are a few hundred bucks and can actually massage deeper into your muscles than human hands. I’m sure using one everyday would at least bring some pain relief, although doubt it would completely solve a larger problem
Also just want to clarify, I am giving this recommendation specifically for sciatica, since I have written many blog posts on how daily percussion massager use can help with sciatic nerve pain.
Also my apologies I mean a percussion massager, not pressure as I said In the above comment
I battled a similar one, I don’t know if it will help but here it goes:
I did electromyography on legs to find out if a nerve was pinched and how much.
Highly skillful orthopedic told me to do physiotherapy.
Highly skillful physiotherapist (in a sports team) helped me unblock a bunch of stuff through various techniques (pressure, acupuncture and more) + daily exercises to increase core strength.
Now much better but still needs work.
I don’t know if it will help, good luck
What are your thoughts about buying an existing website, such as on on Exchange Marketplace?
It works we’ve done it, covered on here in past. Empire flippers, flippa etc. Just need to be sure you know what you’re doing (don’t buy blind)
Searched for it in the blog. Couldn’t find it. Other than typical due diligence, any recommendations on how to not buy blind?
Again answered many times my man.
If you have never succeeded you can’t purchase blindly. Why? no skills.
So you have to be successful then you can identify poorly run assets.
Baby Boomers retiring and selling small B2B businesses without an online presence – Is this an opportunity worth exploring?
Maybe now that they have been forced to get updated on tech
I am based in Europe, what different consequences will the crisis have, compared to the US ?
Is the portfolio: 1) Crypto 2) Gold 3) Cash also the best one to adopt ?
What are your forecasts for the gambling market ? Especially for 100% online operators.
1) we don’t know as we don’t live there so would be useless. If you want an opinion no real change from USA. Unemployment hike more tech being used. Would remain cash/gold/crypto and look for cheap real estate in 3-6 months (again don’t know foreclosure laws tehre)
2) Gambling should be fine, much more competition though as algos take over the spreads
what are your top 3 books for foundational knowledge on skincare/collagen? You’ve listed a few for copywriting.. want to know the same for skincare.. (Taking preventative Measures for myself)
Do not know of any to be honest just have a skin care specialist work with you. everyone has different types (oily, dry, etc.)
gotcha! No skin problems here. Your ‘Spending’ book specifically mentioned reading up on collagen/blood flow etc. I figured there’d be at least one or two credible sources that provide baseline knowledge (could be wrong but there usually is).
Are you part of any association/club? I.e young entrepreneur council. Any you would recommend for networking?
No networking is for people with no value hoping to scam their way into a good role. If you have value people look to find you
Can confirm. If not build up skills first, it’s likely be miserable *even if* you can game the system and get yourself a nice role. Since you kind of over-promised your potential employer/business partner but you underdeliver as time goes by… Not a healthy long-term strategy.
Have you guys dealt with jock itch before?
Embarrassing to talk about but conventional methods have not helped me just keeps it tame.
No sounds like the wrong website for this
Haha what a question
It takes a few weeks to heal using an antifungal regularly on the affected skin
The last few posts have been great. Thanks for staying active with incredibly useful info!
1) Do you think lower priced residential real estate (cashflowing SFH, small multis in smaller markets) will be hit hard as well in ~120 days? Was in the market to buy / hold and buy/flip some properties right before covid hit.
2) Who are some of the active affiliate marketers / digital products (and their websites/twitters) right now that are killing it?
3) From another Q up there: ^ “yes we think it goes down from here and noted fair value is around 2,200-2,300. Somehow we got the bottom right and rebought but went back to neutral again at 2640 (no longer buying)”
Curious when did you guys sell your s&p initially before rebuying at bottom? Or do you mean you just started buying again at the bottom (without selling previously)?
1) yes of course the apartments are levered up and rented out to people not paying
2) Pretty much every single one of them honestly. We’re making a killing (not referring to blog) its almost mind boggling 4-5x
3) This is answered in the prior posts which you claim to have read! Ha!
Got it thanks!
in regards to #3.. I remember you guys mentioning you would just hold cash / buy crypto, no more buying stocks and would announce when you would sell hahah.
So just curious if you did end up selling at all at some point or stuck with just rebalancing % of NW with cash flow.
Rebalance when it hit 2200 bought up
Long time reader – first time participating in Q&A.
What long term macro trends are most interesting to you for B2B service businesses? (Examples would be #metoo giving a post to HR Compliance Businesses)
Uhh our view is all that stuff is dead. Hard to care about that when revenues are down 20%
So services should be back end focused (see other comments in this Q&A). Anything that gets rid of all back end jobs
Practical suggestions to stay sane right now while stuck at home? Even just a link to an article or blog post elsewhere. Definitely feeling a bit irate the past few days. I’ve heard meditation or whatever could help but I have no idea where to begin.
Check our twitter already have several suggestions about 5-10 tweets back
39 M. Work in a University as Financial Administrator ($130K/year), have 13 units of Buy and Hold Real Estate ($159K/gross; $36k/net). I realize that I am very late to the game.
Looking to get a CPA license to open an online accounting practice, bid on Gov’t contracts as a side gig. Even if the business doesn’t pan out as planned, the credential will help me with a higher paying job.
Is it worth pursuing the CPA + online practice path?
We wouldn’t waste time with it personally, would read our books instead. That isn’t scalable and is too slow. But if you just need some more money and don’t plan on getting rich it’ll work
Given some of your tweets on levering up at the bottom – thoughts on SPXL or similar as a long term hold (until the next peak) for when that time comes? Already assuming emergency fund and so forth is taken care of. This is money I’m talking about that could safely be deployed for 8-10 years and not drawn down at all, necessary due to the extreme volatility that an ETF like that will have. Thoughts?
Sure this is a risk tolerance question. Only you can answer that
Although if not even a millionaire (wasting time again)
Hi, I’ve accepted a place at a top tier university in the UK, course starting this year, and am then aiming for M&A as that is where I’m best suited based off my intelligence type.
How do you think corona will affect recruiting and internships in the next few years?
No change at all. Just lower number of openings so more competitive
Small time RE investor (buy and hold, fix and flips). Currently working a W-2 career in software sales to supplement RE business. I’ve gained footing with an investor who’s interested in partnering, which can open the doors with other potential investors (all HNW). What do you consider as the best route for growing the business – fund of property development? I’m in my twenties with a small, but proven, track record. Looking to do RE full-time.
Thanks again for all your guidance throughout the years.
That is too far out of scope. On a glance we wouldnt do it as partnerships with 50/50 is usually a failure
Find a way to pay for advice instead
What niche B2B SaaS companies are most attractive going forward?
My suspicion is that remote working will increase over the long term, benefiting talent management platforms for white collar industries but I would love additional insight on other areas that will win.
Too broad, anything that helps people work remotely and delete anything back end (from assistants to technical support) will be winners
1) If you had a company with say 100 employees and you faced a possible recession like the one that’s probably coming, would you, instead of laying off people and cutting costs, instead increase their salaries, market more aggressively and aim for total domination, once things would start picking up again?
2) Excactly where and how do you identify the booming markets based on the Coronavirus and the upcoming recession?
3) Now that Cannabis is legal to grow and cultivate in so many states, would you agree that CBD oil has potential for being a surging market, especially given the large number of old baby boomers who are retired, unhealthy and overweight?
1) probably not, thats too big of a company would cut for sure and automate
2) do not know yet, it will appear in 3-4 months
3) again not sure, that could easily be monopolized by big tobacco long-term
I asked a question this morning already so feel free to reject this one.
I didn’t understand why you recommend not bothering about crypto until min investment is 250K. Did I misunderstand? If not, what is your reasoning?
Already answered too many times on the blog not going to allow this one
In regards to your post on Twitter:
https://twitter.com/WallStPlayboys/status/1247932710925946880?s=20
Does being a trade qualified horticulturalist count as a trade?
I am one and was thinking of ways to make it work such as start a lawn care business, backyard nursery etc. Is this viable or am I much better of going into any of the other mentioned trades?
Thank you!
Not sure that one is tough to scale because we don’t know how you would create recurring revs on that without man power
But if you know it well go for it
Due to some bad luck, was laid off from software engineering job prior to pandemic.
Taking your advice about sales, was working on switching to sales/sales engineering when the pandemic hit, got lots of ongoing sales interviews cancelled.
Would you think that this would be a tough time to try and make a career switch from SWE to Sales? A lot of companies have hiring freeze and not getting good traction with Sales job leads, but still get steady amount of recruiting calls for Software engineering jobs.
Would it be wise to make the move to sales career now or just find a SWE job in the meanwhile to wait out the storm?
WAY harder to switch careers during a recession so best bet is to stay in same function and search for a new role with similar work.
Maybe you get lucky but that’s the reality
Q1) I’m getting into affiliate space, what traffic source/verticle is the best for beginners?
Q2) Biggest change in affiliate space since you released Efficiency?
Q3) When you were in the space (while employed I’m guessing) how much time did you spend per day on managing your camps?
Happy Easter!
1) impossible to answer depends on your selling style, the major categories are in the book
2) nothing just significantly more competitive and more bans etc. Competition goes up in every industry every day
3) A ton pretty much all free time until making significant money. No time for “partying” except 1x a week as we knew relying on someone else for livlihood was foolish