My dad hates that I don’t have a career / job. He’s one of those nay sayers, always telling me as a child that you have to have a lot of money to make a lot of money.
Even as a child I would ask, “Well, then how did the person who has a lot of money, get the money to make all of his money?” “Inherited it!” He would say.
When he learned about the several houses I flipped, two houses I rent out, and one lot I am building another rental on he became extremely scared for me.
I made and still have roughly over 300k from the various flips I have done in the past couple years, combined with the vehicles I flipped as well.
But, even knowing that he asked me something that blew my mind the other day when we were talking about my real estate - properties and flips.
He said…
Jamie…. “What are you going to do come tax time? How are you going to afford all of those taxes? You really need to quit this and just get a real job.”
Uhhh… What?!?!? I looked at him with a face as if I just got hit with the sTooPet Steck
Something isn’t clicking up in that ole noggin of his. He’s getting old, but he’s not senile. How could anyone think this way?
When I try to explain what I’m doing. I feel like I’m talking to a 3 year old who’s on his knees pushing a toy car around. “Hello? Please listen to me when I’m taking.”
When the conversation is over, I watch him shake his head in disappointment because, as he puts it, “This whole thing you’re doing is just silly!”
On another note, with all the write offs, I doubt I paid a fraction of what he paid in taxes from my real estate.
Even as a child I would ask, “Well, then how did the person who has a lot of money, get the money to make all of his money?” “Inherited it!” He would say.
When he learned about the several houses I flipped, two houses I rent out, and one lot I am building another rental on he became extremely scared for me.
I made and still have roughly over 300k from the various flips I have done in the past couple years, combined with the vehicles I flipped as well.
But, even knowing that he asked me something that blew my mind the other day when we were talking about my real estate - properties and flips.
He said…
Jamie…. “What are you going to do come tax time? How are you going to afford all of those taxes? You really need to quit this and just get a real job.”
Uhhh… What?!?!? I looked at him with a face as if I just got hit with the sTooPet Steck
Something isn’t clicking up in that ole noggin of his. He’s getting old, but he’s not senile. How could anyone think this way?
When I try to explain what I’m doing. I feel like I’m talking to a 3 year old who’s on his knees pushing a toy car around. “Hello? Please listen to me when I’m taking.”
When the conversation is over, I watch him shake his head in disappointment because, as he puts it, “This whole thing you’re doing is just silly!”
On another note, with all the write offs, I doubt I paid a fraction of what he paid in taxes from my real estate.
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