After Selling His Startup For $25m People He Barely Knew Started Calling...

[Gale4rc]

He gets to have an opinion on whether or not your reasons are productive... If you don't want your positions critiqued, then don't post them publicly.

Besides, it's a pretty easy thing to check. Is spending energy worrying about the opinions of others really helping you to get where you want to go? if so, then great! If not...

I don't spend energy worrying about the opinions of others but, if I what I do results in them thinking highly of me , I am for it.

 

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[Kak]

I don't think I've ever agreed with Denis until now



They don't matter to you, your world is not everyone's. Learn to accept right or wrong, we all do things for our own reasons and you don't get to decide if my reasons are 'right'.

If you think it is 'right' to let the opinions of others have a hold on you like that then by all means, be weak and continue on.

I'll maintain the fact that Facebook flaunting BS is counterproductive. The ability to prove someone else wrong is absolutely the wrong reason to build a business. You need to want it for you.

 

[Kak]

The goal of someone with this mindset of "rubbing it in" should really be the stuff like a hot car, flashy clothes, and a really nice camera so you can document your phony "look how perfect my life is" lifestyle in HD.

A high mileage ferrari 360 for 70k and a few fake rolexes and you will have the same result. So if this was my goal, I'd honestly just get a job.

 

[D11FYY]

Very wrong, I am allowed to decide whatever the hell I want to. If you think it is 'right' to let the opinions of others have a hold on you like that then by all means, be weak and continue on.

I'll maintain the fact that Facebook flaunting BS is counterproductive. The ability to prove someone else wrong is absolutely the wrong reason to build a business. You need to want it for you.

Exactly I dont want the fancy cars or anything anymore.
I just want to feel free. Successful enough to be Free enabling me to do what I want when I want by no means does it have to be flashy. If i wanted to go on a holiday tomorrow I could but still have to come back and face the shit when i got back. Reason would be nice to have investments which made passive income.
I watched a documentary of David Beckham last night traveling through Brazil he has all the money, fame and success that some people could only dream of. But when he reached the amazon where people didn't know how successful he was or who he even was for that matter. He finally felt free something he says he hasn't in years but these people didn't treat him any different. so it doesn't matter what opinions people have of you for driving a piece of shit or Rolls Royce it really doesnt matter but if you feel content with yourself then that is all that really matters! imo

 

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[MJ DeMarco]

If I get a big beautiful home it will be in a gated community for a reason

Lived in one for years. Don't be fooled. A "gated community" means HOA. HOA means freaking snooty assholes who have nothing better to do other than to harass their neighbors because the bush is not trimmed to 5 feet, or the side wall is one shade of gray too dark. As someone who likes to be left alone, who likes to be in control, who likes NOT to be told what to do, that the "gated community" is the worse thing of all. It took me over a year to find a house because the top priority in my search was not to be a part of a bloodsucking HOA. Just something to think about...

 

[Vick]

im just gonna buy an island. its easier.

 

[Kak]

Lived in one for years. Don't be fooled. A "gated community" means HOA. HOA means freaking snooty assholes who have nothing better to do other than to harass their neighbors because the bush is not trimmed to 5 feet, or the side wall is one shade of gray too dark. As someone who likes to be left alone, who likes to be in control, who likes NOT to be told what to do, that the "gated community" is the worse thing of all. It took me over a year to find a house because the top priority in my search was not to be a part of a bloodsucking HOA. Just something to think about...

Wow that is awful. I certainly don't want to be in a situation like that. I hadn't thought about it.

I wonder if renting in an area like that with would be different since they are complaining to the landlord and it is his problem if his fence isn't the right color for instance.

 

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[Magik]

Lived in one for years. Don't be fooled. A "gated community" means HOA. HOA means freaking snooty assholes who have nothing better to do other than to harass their neighbors because the bush is not trimmed to 5 feet, or the side wall is one shade of gray too dark. As someone who likes to be left alone, who likes to be in control, who likes NOT to be told what to do, that the "gated community" is the worse thing of all. It took me over a year to find a house because the top priority in my search was not to be a part of a bloodsucking HOA. Just something to think about...

Correct me if I'm wrong, but HOAs usually charge a fee as well. That's how they pay for maintenance to the gate, security, pool, etc. So, not only will they bitch about your yard not getting mowed in a timely manner, they will charge you a monthly to do it. I know for a fact that you always pay for HOA when you own a condo/apartment, I'd think gated housing communities aren't much different.

 

[MJ DeMarco]

Correct me if I'm wrong, but HOAs usually charge a fee as well.

Yup. And you gotta pay it. Every year you get a new statement with new price increases that are always 100-200% greater than inflation. Don't pay and your house will get a lien thrown on it.

 

[Kak]

I'm kind of still on the rent rent my home kick. It's like concierge living. Something goes wrong it's not my house, I call someone. Also, the difference between the monthly cash burn on home ownership (property taxes, HOA, insurance, interest, maintainence) vs your all in price on the rental side... Sometimes they are extremely close, especially if the house you are renting has had the same owner for a decade.

When it all comes down to it, it bothers me that even if my house is paid off completely I still have to pay the government a portion of its value every year so they don't steal it.

 

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[Nathan Douglas]

Correct me if I'm wrong, but HOAs usually charge a fee as well. That's how they pay for maintenance to the gate, security, pool, etc. So, not only will they bitch about your yard not getting mowed in a timely manner, they will charge you a monthly to do it. I know for a fact that you always pay for HOA when you own a condo/apartment, I'd think gated housing communities aren't much different.

I do my own mowing, but I was out of town for 1 little week and when I came back I had 2 letters in my mailbox from the HOA saying If the lawn wasn't mowed I would be fined. Oh get this, and they took a picture of the side of my house showing the "messy" lawn. I am going to start mowing the lawn at night now, twice a week. >

 

[Magik]

I'm kind of still on the rent rent my home kick. It's like concierge living.

I definitely see the benefit, though you give up control when you have a landlord. In 2012, I lived in 3 different places before I closed on my place and had to move out of all three due to various issues outside of my control.

My long-term strategy is a bit different than many, and it's based around the realization I had that your money is safer in real estate than it is in the banks or the stock markets. It's a shame we've reached that point, but after what happened in Cyprus, we've entered a startling new paradigm. Big government gets in a bind? Big banking gets in a bind? We need your money, here's an IOU, sorry.

My plan is to buy 2-4 properties, mostly condos (likely have at least 2 abroad), as well as raw land (preferably with lots of hard wood timber) tuck all of it into a C-Corp or an S-Corp. Then, bounce from property to property and do short-term rentals on the places while I'm not living in them, which will help pay the taxes, fees, etc. I don't have it all worked out yet, and there are plenty of things that have to happen first, but it's a long-term goal.

The idea is to maximize freedom, control, and property appreciation, while minimizing costs as much as possible.

 

[MJ DeMarco]

When it all comes down to it, it bothers me that even if my house is paid off completely I still have to pay the government a portion of its value every year so they don't steal it.

Ha, that was my other criteria - a low tax payment. I cut my property taxes by 66% and moved to a 25% bigger house, all because I got the heck out of Phoenix and away from the "prestigious school district" which I could give a shit about.

In Texas you have some serious considering to do since the property taxes are where they balance the books with ZERO state income taxes. The type of house I like to live in would have $50K/year property taxes in Texas. In AZ, it's $10K. I don't think I'd be happy paying $50K/year in property taxes. Nonetheless, rent or buy, those taxes get passed down to the consumer, you, the guy who is living in it. There are some great benefits to just renting and not having to fix a damn thing.

Sorry about the massive thread hijack.

 

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[Michael W.]

I'm kind of still on the rent rent my home kick. It's like concierge living. Something goes wrong it's not my house, I call someone. Also, the difference between the monthly cash burn on home ownership (property taxes, HOA, insurance, interest, maintainence) vs your all in price on the rental side... Sometimes they are extremely close, especially if the house you are renting has had the same owner for a decade.

When it all comes down to it, it bothers me that even if my house is paid off completely I still have to pay the government a portion of its value every year so they don't steal it.

Ive never liked being a renter so I've always bought my homes but overhearing you say this the other night and putting it in that perspective as a concierge service has really got me thinking differently. Pretty awesome mindset if you ask me.

 

[Kak]

Ha, that was my other criteria - a low tax payment. I cut my property taxes by 66% and moved to a 25% bigger house, all because I got the heck out of Phoenix and away from the "prestigious school district" which I could give a shit about.

In Texas you have some serious considering to do since the property taxes are where they balance the books with ZERO state income taxes. The type of house I like to live in would have $50K/year property taxes in Texas. In AZ, it's $10K. I don't think I'd be happy paying $50K/year in property taxes. Nonetheless, rent or buy, those taxes get passed down to the consumer, you, the guy who is living in it. There are some great benefits to just renting and not having to fix a damn thing.

Sorry about the massive thread hijack.

Given the two options. State income tax vs property tax I pick the property tax every time. Why? Because I could have a 50 million income and only pay taxes on a 700k house and some sales taxes... Now in a retirement situation like MJ it looks like Income>property tax is the way to go since your income is probably mostly from capital gains.

Though, it all pisses me off. Lol about the prestigious school districts. I wouldn't give a crap even if I had kids. They would never set foot on a public school campus.

 

[Iwokeup]

To Denis and those feeling like him:

I used to feel that way. I came from literally nothing, dirt poor and having lived in pretty awful circumstances. When I went to college (first in the family), none of myadvisors thought that I would make it to medical school. Hell, my GF's dad was one and the most arrogant prick I have ever met and he thought so too.

So when I made it into med school and later the residency of choice, you bet that I contemplated the Matt Damon "How about them apples?" moment. At the end of the day though, doing so gives them power over you.

Let them find out on their own and die of shock in private. You've got bigger fish to fry in this world.

Peace

 

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[Iwokeup]

Ha, that was my other criteria - a low tax payment. I cut my property taxes by 66% and moved to a 25% bigger house, all because I got the heck out of Phoenix and away from the "prestigious school district" which I could give a shit about.

In Texas you have some serious considering to do since the property taxes are where they balance the books with ZERO state income taxes. The type of house I like to live in would have $50K/year property taxes in Texas. In AZ, it's $10K. I don't think I'd be happy paying $50K/year in property taxes. Nonetheless, rent or buy, those taxes get passed down to the consumer, you, the guy who is living in it. There are some great benefits to just renting and not having to fix a damn thing.

Sorry about the massive thread hijack.

Yeah, but Texas is incredibly business friendly and the overall tax burden is really low. Property taxes are high but readily contestable.
And it's been my experience that places with low property taxes usually make up for it in other ways (cough, California!).

 

[Iwokeup]

Also, like @Kak, I don't usually tell people about what I do or what I make. First, they then want free medical advice and think that I really care about their bowels.

Second, you never know what kind of reception you'll get. There are folks in the town that I live in who think that wanting to make millions is somehow wrong or "selling out."

I haven't figured that last one out...

 

[Rawr]

The goal of someone with this mindset of "rubbing it in" should really be the stuff like a hot car, flashy clothes, and a really nice camera so you can document your phony "look how perfect my life is" lifestyle in HD.

A high mileage ferrari 360 for 70k and a few fake rolexes and you will have the same result. So if this was my goal, I'd honestly just get a job.

I'm on the fence here... not for the showing off part directly, but consider this:

when I lived in a more European city after leaving midwest, I HAD to change my wardrobe. When I'd go out with friends, girls, I'd eventually figure out what looks good and what's "in". I changed it up not to show off but to show - yeah, I'm with you guys here.

I rocked plain white tshirts to clubs for years just to prove it wasn't about the clothes, but at some point you realize that things talk for you too... pulling up to a country or night club in a rusty civic is not not giving a F*ck... it's "what the F*ck?" because you are counter signaling something... unless you're so amazing and can DEMONSTRATE it quickly, you aren't going to get a good impression. "What do I care?" well...you live in a society. And no matter what you tell yourself, there are other cool and admirable people out there within it.

 

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[CarrieW]

I have the same issues as @DennisDuty I have learned after years its just not worth it. now I realize if it doesn't directly effect me I don't care. this is wonderful except with family. because my family directly effects me. in the case of family I tell them my thoughts and the reasons or facts behind my thoughts and they can take it or leave it. they are all grown ups and make their own decisions.

my kids are a different story because they are still being raised.

now if everyone or anyone for that matter came out of the woodwork asking for money well the lists are already made. if you aren't on the list your shit out of luck LOL

I still have contact with just about everyone who has ever mattered to me in my life. its not a huge circle of people but I would willingly help anyone on my "list" without hesitation with just about anything. probably without them even having to ask

 

[Iwokeup]

Which brings up the question... I can afford the Beemer but I don't want to spend money yet while I build the business. BUT what happens if I make a sales call for my SaaS thing and pull up in my current humble ride? Would that shoot me down before I even start?

 

[jon.a]

Which brings up the question... I can afford the Beemer but I don't want to spend money yet while I build the business. BUT what happens if I make a sales call for my SaaS thing and pull up in my current humble ride? Would that shoot me down before I even start?

Do you really think that your prospect is standing by the window watching what you drive up in.
Park around the corner and walk.

 

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[Iwokeup]

Do you really think that your prospect is standing by the window watching what you drive up in.
Park around the corner and walk.

Good point. Thank you sir

 

[D11FYY]

To Denis and those feeling like him:

I used to feel that way. I came from literally nothing, dirt poor and having lived in pretty awful circumstances. When I went to college (first in the family), none of myadvisors thought that I would make it to medical school. Hell, my GF's dad was one and the most arrogant prick I have ever met and he thought so too.

So when I made it into med school and later the residency of choice, you bet that I contemplated the Matt Damon "How about them apples?" moment. At the end of the day though, doing so gives them power over you.

Let them find out on their own and die of shock in private. You've got bigger fish to fry in this world.

Peace

Do you think this has spurred you on to make it? My ex's mum basically told her dont be with him be with a doctor , lawyer etc. It actually was annoying. Sir Alan Sugar went through the same phase lol when he finally got knighted he got his Step Dads approval as such.

Which brings up the question... I can afford the Beemer but I don't want to spend money yet while I build the business. BUT what happens if I make a sales call for my SaaS thing and pull up in my current humble ride? Would that shoot me down before I even start?

Same as you just now I could afford a nice car but why? I don't need it Id rather hold on to what Iv got for a business or investments. I'm currently flipping cars just now with the money so im driving a decent car but making £500-1000 per car that im moving on.
Annoying how society judges you based on what you wear and drive. I know a guy who was a millionaire wore the same outfit daily a pair of worn out jeans , faun timberland boots , a shirt and a dress jacket (it didnt look as bad as it sounds, it was kind of scruffy however). People would have passed him and thought border line hobo? Until they seen him jump into his Phantom or Aston Martin outside lol.

 

[Rawr]

Which brings up the question... I can afford the Beemer but I don't want to spend money yet while I build the business. BUT what happens if I make a sales call for my SaaS thing and pull up in my current humble ride? Would that shoot me down before I even start?

Whats your humble ride? Anything "normal" is fine..you're selling yourself, who knows what you do with your money. If it's a rusty POS, yes thats a problem imo

 

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[splok]

Some "jobs" require a uniform, and very rarely, that uniform might include a "respectable" car (requires might be too strong, but at least becomes easier to be effective).

BUT I don't think that's really what was being discussed. I don't think "publicly bragging about success" equates to "looking the part for the role you're playing".

 

[Iwokeup]

Whats your humble ride? Anything "normal" is fine..you're selling yourself, who knows what you do with your money. If it's a rusty POS, yes thats a problem imo

Honda Accord with 225K miles on it....

 

[Iwokeup]

Do you think this has spurred you on to make it? My ex's mum basically told her dont be with him be with a doctor , lawyer etc. It actually was annoying. Sir Alan Sugar went through the same phase lol when he finally got knighted he got his Step Dads approval as such.

Haha. Yeah, probably so. I had a vivid mental image of me saying "F-- You, (First Name, not "Doctor") in my mind for a long time. It definitely lifted me up when I was face down in the mud...

Same as you just now I could afford a nice car but why? I don't need it Id rather hold on to what Iv got for a business or investments. I'm currently flipping cars just now with the money so im driving a decent car but making £500-1000 per car that im moving on.
Annoying how society judges you based on what you wear and drive. I know a guy who was a millionaire wore the same outfit daily a pair of worn out jeans , faun timberland boots , a shirt and a dress jacket (it didnt look as bad as it sounds, it was kind of scruffy however). People would have passed him and thought border line hobo? Until they seen him jump into his Phantom or Aston Martin outside lol.

LOL. Kind of like @zen*******s "Zero F*ks Given" attitude...

 

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[Gale4rc]

The goal of someone with this mindset of "rubbing it in" should really be the stuff like a hot car, flashy clothes, and a really nice camera so you can document your phony "look how perfect my life is" lifestyle in HD.

A high mileage ferrari 360 for 70k and a few fake rolexes and you will have the same result. So if this was my goal, I'd honestly just get a job.

It has nothing to do with rubbing it in, or my goals. Please don't twist my words.

Like I originally said "if I what I do results in them thinking highly of me , I am for it."

You might not think that way and that's fine.

I enjoy the respect of other people.

 

[CarrieW]

You do not need money to have respect....

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