Tim Sykes $5,000,000 Miami Mansion

[Kak]

Thank you for clearing that up. I was not trying to spread rumors, I was just alluding to what I saw. It is true that 30k/m plus lambo and 5m house does not equal money in the bank.

 

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[CommonCents]

Sykes found a market. Mostly young people chasing get rich quick schemes. So his videos are cheesy to appeal to that market.

 

[DanTheMan]

Let's piece this out...

He said he made 30 grand that month... Said it was a good month. Big F*cking deal... He lives in a 5 million dollar "mansion" in Miami. He has an entourage of leech phony friends and hookers that live in his house. He has a yacht and a lambo... He is going to T&C on a whim... He is flat broke.

I agree. $30k a month is not even CLOSE to living that type of lifestyle. I make more than that and my lifestyle is that of a peasant, compared to him.

 

[Kak]

I agree. $30k a month is not even CLOSE to living that type of lifestyle. I make more than that and my lifestyle is that of a peasant, compared to him.

Yes, but I shouldn't say definitively that he is broke. I didn't know he makes the majority of his money elsewhere. But yes 30k won't get you a 8000 square foot home in Miami.

 

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[ExecutionisKing]

The fact is, all of it is fudged facts or mistruths from people who simply don't like my message. So they make up shit about me to make themselves feel better. You see, when you don't like the message (or can't refute the message) you attack the messenger.

Exactly. A classic ad-hominem argument

For all the newbs out there salivating at the idea of making $30k/mo and living in a $5M house, let me be clear: YOU CANNOT. And if you did, you'd be broke in a year or two.

I don't own a home and just looked up mortgage payments since I was curious... didn't realize how big of a mortgage payment that would make. In the same way that compound interest really works for you if you're investing with millions, 4.5% of 4.5 million (.5M) down (for 30 yrs) would be Almost 23k/month for JUST your mortgage.
With 30k month, 360k year, you'd have well over 100k in tax liability for federal/state, not to mention actually LIVING.... so yea, not going to happen.

Looks like I need to go and actually find "my number," so I have a specific goal in my mind. I'll have to watch out obsessing too much over the numbers though and trying to "get everything right" as an excuse for not actually doing anything that will get me to that goal.

 

[Worldisyours]

That house, doesn't not even come close to my standards.

Seems like a cool guy though

 

[chrisbiz4444]

In conclusion...

For all the newbs out there salivating at the idea of making $30k/mo and living in a $5M house, let me be clear: YOU CANNOT. And if you did, you'd be broke in a year or two. (I think this was what @Kak was alluding to). Just to give you some reference points, when I was making $30K/mo, I was living in a $200K house. I only stepped up into the $1M house when I was routinely making 6 figures monthly. Now, I only pay cash for houses.

So what I'm saying is this: If you want to live in a $5M house, by all means, go for it. However, I seriously hope that you can pay cash for it and not be burdened by the cash outlay. Earning $30K/mo isn't going to cut it. If you can't pay cash, well, you can't afford it. Grow your cash or shrink your ego.

Your are 100% right MJ. Cash purchases are king, especially on liability's. However, I do feel like if you are buying property as an investment leverage is essential. That is what makes REI so powerful, ' but yet so dangerous . Buying at the right price point and right phase of the market cycle is most important. Otherwise leverage can turn into bankruptcy real quick lol!

 

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[chrisbiz4444]

I agree. $30k a month is not even CLOSE to living that type of lifestyle. I make more than that and my lifestyle is that of a peasant, compared to him.

Impressive.

Some real fastlaners here.

Pretty awesome.

 

[socaldude]

Guys,

Why all the hate on Tim Sykes?

Do you know him?

How can you hate something you have no contact or knowledge with other than some Youtube video?

He is a millionaire success story. There are tons of gold nuggets in his story. Learn from him.

Sure, maybe he makes the bulk of his income selling information subscriptions, books, media etc. But isn't that Fastlane? Isn't that what we want for ourselves?

All of you guys are hating and yet thats the kind of lifestyle and success you want to have too. People are giving him money so obviously he is providing value and filling a need. Even if that need is money chasing/event oriented consumers who want to make $10k/mo sitting at home.

 

[D11FYY]

Im not sticking up for the guy what so ever but I noticed after the movie wolf of wall street how he was mentioning it constant tagging it etc.
His "lavish" lifestyle is a front for his customers. Hell id be doing the same myself if that was the type of market/clients I needed.
He maybe is a decent guy behind the scenes when he is not putting on a show. It seems to be working for him so each to their own.

In the video notice how many times he says "students" and links it to rolex's miami sunshine etc. its just a false cribs like version for advertising his business. Hes trying to hard to be "cool" in my opinion though.

 

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[Kak]

Guys,

1. Why all the hate on Tim Sykes?

2. Do you know him?

3. How can you hate something you have no contact or knowledge with other than some Youtube video?

4. He is a millionaire success story. There are tons of gold nuggets in his story. Learn from him.

5. Sure, maybe he makes the bulk of his income selling information subscriptions, books, media etc. But isn't that Fastlane? Isn't that what we want for ourselves?

6. All of you guys are hating and yet thats the kind of lifestyle and success you want to have too. People are giving him money so obviously he is providing value and filling a need. Even if that need is money chasing/event oriented consumers who want to make $10k/mo sitting at home.

I'm assuming this is directed at me.

1. I don't hate him
2. I've seen enough to know I don't like his douche style
3. Once again I don't hate him
4. Meh
5. Yes that is Fastlane he is making money, yes financial freedom is what we want.
6. Not hating for his success.

Forgive me if I think pissing away my money on an entourage of people to live in and F*ck up my home is douchey. Forgive me if I think the guy is an outlandish dickhead for acting the way he does.

Trust me I want things out of life. None of what I saw in that video are them. To each his own, but there are many people here who also think he is douche.

Obviously you are his demographic along with tommy and worldisyours. You guys should buy his book!!

Menorah yeeeeeeeeeahh...

 

[ExecutionisKing]

Guys,

Why all the hate on Tim Sykes?

Do you know him?

How can you hate something you have no contact or knowledge with other than some Youtube video?

He is a millionaire success story. There are tons of gold nuggets in his story. Learn from him.

Sure, maybe he makes the bulk of his income selling information subscriptions, books, media etc. But isn't that Fastlane? Isn't that what we want for ourselves?

All of you guys are hating and yet thats the kind of lifestyle and success you want to have too. People are giving him money so obviously he is providing value and filling a need. Even if that need is money chasing/event oriented consumers who want to make $10k/mo sitting at home.

Can I answer your question with a question? MJ touches on guru's who sell the slowlane, and while they are in the fastlane themselves, we all know not to follow their teachings.
While Tim isn't selling the slowlane here, what he's actually selling isn't what got him where he is. It's the fact that he's selling it to so many people.

So, is selling to sidewalkers or even slowlaners the

money chasing/event oriented

path wrong?
I mean, we know they won't end up where they think they will. But they want it. So give it to them, because there's demand for it?
I guess the broader question here has an ethical issue attached. Is it wrong to sell a get rich easy strategy when you know it's not going to happen, but there's significant demand for it regardless?
No one who does would be the first to do it, but that certainly doesn't make it right...

 

[DeletedUser394]

At the end of the day, adults are responsible for their own purchasing decisions.

 

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[socaldude]

Forgive me if I think pissing away my money on an entourage of people to live in and F*ck up my home is douchey. Forgive me if I think the guy is an outlandish dickhead for acting the way he does.

That's OK. You are entitled to feel how you want to feel. My only argument was that people come on here and flat out call him a douche when there are clearly lots of positive things to say about his success and character.

Trust me I want things out of life. None of what I saw in that video are them.

That's fantastic. I applaud you for following your own expectations and identity.

but there are many people here who also think he is douche.

I highly urge them to look again.

Obviously you are his demographic along with tommy and worldisyours. You guys should buy his book!!

Based on what? What or who said that? Nowhere does it say that I trade for a living nor have any desire to do so.

 

[blaksol]

I was into penny stocks about a year ago. Unfortunately it was during the time the SEC started cracking down on promotions and I got stuck in one I thought was legit because they had the most public promotion and lost about $5k. The main stock that got me was called Biozoom (BIZM). Looked like a legit product and they even ran ads in the New York Times. Most of the "picks" Tim Sykes makes on his site are shorting promitions like this, which is very difficult to do if not impossible for most. Only a few brokers even allow it, and they usually don't have shares to borrow. That being said, he does know what he is talking about from a technical standpoint.

 

[Tommy92l]

I'm assuming this is directed at me.

1. I don't hate him
2. I've seen enough to know I don't like his douche style
3. Once again I don't hate him
4. Meh
5. Yes that is Fastlane he is making money, yes financial freedom is what we want.
6. Not hating for his success.

Forgive me if I think pissing away my money on an entourage of people to live in and F*ck up my home is douchey. Forgive me if I think the guy is an outlandish dickhead for acting the way he does.

Trust me I want things out of life. None of what I saw in that video are them. To each his own, but there are many people here who also think he is douche.

Obviously you are his demographic along with tommy and worldisyours. You guys should buy his book!!

Menorah yeeeeeeeeeahh...

The F*ck you bringing me in this for?

 

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[chrisbiz4444]

I was into penny stocks about a year ago. Unfortunately it was during the time the SEC started cracking down on promotions and I got stuck in one I thought was legit because they had the most public promotion and lost about $5k. The main stock that got me was called Biozoom (BIZM). Looked like a legit product and they even ran ads in the New York Times. Most of the "picks" Tim Sykes makes on his site are shorting promitions like this, which is very difficult to do if not impossible for most. Only a few brokers even allow it, and they usually don't have shares to borrow. That being said, he does know what he is talking about from a technical standpoint.

The stock that wasn't KMAG was it? I got killed in that stock due to overlooked audits.

 

[ExecutionisKing]

At the end of the day, adults are responsible for their own purchasing decisions.

True. I guess I mean to ask, doesn't it feel wrong/backwards to be one of the gurus living the "Paradox of Practice?"
What he's selling is the "illusion to the culprit" in terms of how he made his money (From MJ).

Are the gurus those we are supposed to ignore and maybe become upset with for their false teachings, and then become one ourselves?

I guess it's an end justifies the means question. Avoid them, ignore them, call them out..... then become them?

 

[DeletedUser394]

True. I guess I mean to ask, doesn't it feel wrong/backwards to be one of the gurus living the "Paradox of Practice?"
What he's selling is the "illusion to the culprit" in terms of how he made his money (From MJ).

Are the gurus those we are supposed to ignore and maybe become upset with for their false teachings, and then become one ourselves?

I guess it's an end justifies the means question. Avoid them, ignore them, call them out..... then become them?

I'm not sure I understand 100%.

Sure if you're selling snake oil to vulnerable/gullible people that's not good.

Due diligence is the responsibility of the investor (or purchaser of a product/service).

I don't believe Tim's a 'false teacher', as his situation is somewhat unique. He's entirely transparent about all of his trades from what I can see. He's proven to have made money and continues to make money using whatever system he teaches.

He's creating multiple income streams.

 

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[Shuffle]

I like him. I've watched his stuff. Whenever people say he makes the bulk of his money through teaching, I don't understand why that's a bad thing. We're all in this for the financial freedom. Teaching for him might have just been the quicker way to do it...so WHY NOT seize the opportunity? He completely GRABBED the penny stock niche and has done well marketing himself in the fashion that he does it in. Shit if I had that opportunity, I'd buy random shit to prove my wealth too lmao. I know a guy who's wealthy and he has random shit in his house too. Random waterfall, random river stream, random apple trees here and there...Who cares?

It doesn't mean his trading skills are poor, it could just mean his teaching is far superior to his trading. Just because you trade well doesn't mean you can teach well. Teaching is a whole new game.

For some, 30K a month is huge. Especially if all you do is make trades from your computer with no overhead. He just figured out ways to make MORE through multiple income streams. One door led to another. I can see how he trades because I trade currencies, and he's huge on breakouts. They're not random. Penny stocks just have massive breakouts and pullbacks w/ less retracement entries.

Overall, he did what he had to do you know? We all need that special edge and he found his. I can only wish good things for him. Honestly I'd use him for my own personal path as it's the one I'm going for.

 

[ExecutionisKing]

I'm not sure I understand 100%.

Sure if you're selling snake oil to vulnerable/gullible people that's not good.

Due diligence is the responsibility of the investor (or purchaser of a product/service).

I don't believe Tim's a 'false teacher', as his situation is somewhat unique. He's entirely transparent about all of his trades from what I can see. He's proven to have made money and continues to make money using whatever system he teaches.

He's creating multiple income streams.

I get that. I haven't researched him enough to call him out really, and I wouldn't get any pleasure from doing so. I'm not trying to downplay his success at all, just wondering what people think of the way he's selling it.
You're saying he's transparent about what he does, and he makes money from it. So his trading is a legit income stream.

But isn't the whole point of the video to gain more followers/subscriptions by flaunting his wealth, which he claims is from this trading? Yet the amount he makes from trading is apparently a very small fraction of what he makes from selling his trading picks.

In other words, he's not teaching false things, but he's selling you that what he's teaching you made him a success, when it looks like actually selling what he's teaching you made him the success.

I guess to me, it seemed like he was only giving you part of the story behind the picture, but selling it to you like it's the full thing. I guess it's "Fastlane," but it just seems misleading to me, if I'm understanding things correctly.

 

[Vick]

I dont like his cocky attitude.

There are way better entrepreneurs out there to follow.

Maybe hes a cool guy. IDK

I just dont see it.

 

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[Rickson9]

Honestly I don't think he cares what other people think. He's just ballin.

 

[oldscool]

The house is hideous. Clearly material things just came with the territory from him working his business.

Oh and the Lambo is nice, but, upgrade would be nicer. Not that I am a sports car fanatic, but, meet the ferarri fxx

 

[Paleo]

This guy reminds me of the real estate gurus who had late night TV informercials in from the late 90's to 2007.

Flaunting your wealth, or claimed wealth, was part of the show and it was very effective marketing.

Wouldn't you want to buy a "get rich quick" system from a guy who was already rich and living the dream ? Of course you would!

One of my favorites was Tom Vu

He would rent a power yacht and bikini models for the day

No, I never bought any of theses "systems" I enjoyed them for the entertainment value and liked to analyze their marketing tactics

 

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[458]

You have to appreciate his fake persona though.. After all.. here we are; talking about him....

Yes hes a nerd and yes his personality is fake, but it works for him and hes milking it.

 

[blaksol]

Unfortunately, I don't think his persona is fake.

 

[Shuffle]

Unfortunately, I don't think his persona is fake.

Hahahaha who knows you might be right. Unfortunately...hahah. He's very blunt with people who call him out. Just get popcorn ready when he does

 

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[D11FYY]

This guy reminds me of the real estate gurus who had late night TV informercials in from the late 90's to 2007.

Flaunting your wealth, or claimed wealth, was part of the show and it was very effective marketing.

Wouldn't you want to buy a "get rich quick" system from a guy who was already rich and living the dream ? Of course you would!

One of my favorites was Tom Vu

He would rent a power yacht and bikini models for the day

No, I never bought any of theses "systems" I enjoyed them for the entertainment value and liked to analyze their marketing tactics

Lol is this the guy they where talking about in the Pain and Gain movie with the Rock and Mark Wahlberg? Kind of reminds me of Chan some how from the hangover also

 

[CommonCents]

i miss Tom Vu! After some legal/criminal investigations haha he went on to professional poker in vegas. do you ranna rake a rot a money?!!