Stock Market, Business, and Investing General - News, Tips, etc

[TheRedChair]

In the absence of using a realtor, what's the advice handling real estate markets with dubious build quality standards? Best I can gather is hiring a home inspector. Realtor's typically take a few percent of the house cost, which is not negligible but presumably realtors are supposed to advise on legal matters that the buyer isn't familiar with.

Stuff like flood maps, historic housing prices, and comparable prices are all public or can be obtained with some effort. It's knowing what non-obvious flaws there are in a house that I wonder how you're supposed to replace, again accepting that most realtors are fraudulent retards with a fly-by-night license.

You got a lot of things pretty correct on the research aspect. You also want to look at county records to see about any sort of liens on the property, water and mineral rights and so on. don't EVER buy any sort of property without having all of your rights you have on said property.

Case in point: There was a home up in N. California had all what I was looking for, but of course looked at the county records and found out there was no water rights on that property...

Meaning that the fucking 15 foot wide stream that was 100 feet away from the house, I could not legally use it in anyway as I don't have the water rights to it. Fuck that shit.

Another is Yerington NV... Damn some nice places but in 2023 the natural Uranium levels exceeded EPA levels concerning safety.... So no for me as well.

Also ALWAYS try to find a good home inspector. It will save you time and money on any potential problems. So shop around carefully.

Myself I've been doing this for over 40 years now. So I have the skillset to see what is actually wrong and what the home buyers are trying to hide.

These days IMHO everyone is scamming everyone else. You can here the horror stories online about people buying in good faith only later finding out that their home has turned into a horror movie.

Anyway always do your research before investing into whatever you want to do.

 

[des Pudels Kern]

These days IMHO everyone is scamming everyone else.

This is why I haven't pulled the trigger on a house yet. I think everything in my price range is so enormously overpriced it's just better to rent. I have people telling me to just get anything I can right now to protect myself against future price appreciation, but if worse comes to worse I could just have my money and live in a car, or keep my roommates. My rent with roommates is like $400 a month and I'd rather watch that disappear than watch tens of thousands disappear in one fell swoop fixing a lemon. I kinda wish I knew someone who was into housing that could guide me into it, but still the process is also intimidating and so time consuming. You gotta get time off of work to talk to people and do paperwork and look at houses and meet with inspectors and put in offers like a dozen times. Personally I think owning is for the birds.

 

[Hollywood Hulk Hogan]

Dude, no... That's not the point of NFT's at all. NFT's exist to exploit the same loophole that billionaires do concerning intangible assets and taxes. If Bill Gates donates a Picasso for $1 mil to one of his charities, he gets a tax receipt for that same amount. Similarly, When I buy a $30 NFT, "appreciate" it by $30, and donate it to the Salvation Army, I get a tax receipt for $60. That is literally the only reason why NFT's exist at all. That is their primary, overarching purpose. They're tax sheltering vehicles.

I only really use it as a strat to protect my investment income from the government. Take that MF who spent like $300k on a picture of a rock, for example. It's art, so he can appreciate it as much as he wants to and donate it without being scrutinized by the IRS. He's pretty much ensured he never pays another cent in taxes as long as he has a nonprofit that'll accept it as a donation. That's why I suggested using it to offset income that isn't made in a 401k or a Roth IRA.

But like you can't sell those NFTs for a profit. So you're essentially giving away your money so you won't have to pay taxes on it, which is stupid. You'll end up with way more if you just park your money into stocks/etc and just pay the taxes instead of blowing money on NFTs and giving them to a charity. That is, assuming charities even want NFTs these days

 

[TheRedChair]

This is why I haven't pulled the trigger on a house yet. I think everything in my price range is so enormously overpriced it's just better to rent. I have people telling me to just get anything I can right now to protect myself against future price appreciation, but if worse comes to worse I could just have my money and live in a car, or keep my roommates. My rent with roommates is like $400 a month and I'd rather watch that disappear than watch tens of thousands disappear in one fell swoop fixing a lemon. I kinda wish I knew someone who was into housing that could guide me into it, but still the process is also intimidating and so time consuming. You gotta get time off of work to talk to people and do paperwork and look at houses and meet with inspectors and put in offers like a dozen times. Personally I think owning is for the birds.

Nothing wrong with renting. Just make sure you save your money and not spend it like a fool...like 60% of the Americans do in the US...

During that time educate yourself. There is plenty of information online to increase your knowledge.

AS far as owning... That depends. Again I'm a blue collar millionare. My properties are fully owned. No mortgages atm. So yes there is maintenance to the property, BUT this is now a NET ASSET that corporations just love to see.

AT ANY GIVEN TIME I can leverage those properties and if I was younger I would, and play the Super Rich mans Game (musk) of attaining wealth. But for now I play things safe and dabble here and there.

Again in my past postings, I've stated how the finance corporations change their tune when you have X amount of dollars to your name.

40 years. Same bank... From "your are nothing" to " You are getting people Fired because they want your money in their bank".

Renting is fine. It is a stepping stone forward... but IMHO you do NOT want to rent for the rest of your life.

You want to get ahead in life. Renting IMHO is NOT the end game at all... IF you do you will have to deal with people like me... I'm a nice asshole but still an asshole with it comes to my leases.

I've already seen 3 generations of people leasing on my properties. And that is very very sad.

 

[Incongruous]

But like you can't sell those NFTs for a profit. So you're essentially giving away your money so you won't have to pay taxes on it, which is stupid. You'll end up with way more if you just park your money into stocks/etc and just pay the taxes instead of blowing money on NFTs and giving them to a charity. That is, assuming charities even want NFTs these days

I'll have to disagree with your assessment for a few reasons that I'll outline below...

1. Profits from selling assets owned for one year or less are taxed at your ordinary income tax rate. This can range from 10% to 37%, so we’ll just go with the median of 23.5%. Gains from selling collectibles like art or coins on the other hand are taxed at a maximum rate of 28%. I would by-and-large lose more to taxes if I parked my money in NFT’s hoping that they’d appreciate in value as an investment than I would by simply using it as a tax sheltering vehicle.

2. “Giving away” money for a tax break would indeed be counterintuitive if (a) I couldn’t artificially increase the amount I would receive by inflating the asset’s value on my balance sheet, and (b) it didn’t give me control over where my tax dollars go. What I mean by this, is that if I made $100 from an investment, and had to pay income tax on it (forgoing any tax deferral/sheltering methods), I would pay $23.50 on average, going by the rate I outlined in (1). If I were to use an NFT effectively, I would purchase a $10 NFT, donate it with a fair value adjustment of +$13.50, and offset my $23.50 tax burden to only $10 of actual money spent, because my “art” purchase appreciated it the rest of the way.

3. Charities like DAFgiving360 and Helping Hands of America Foundation accept donations of art objects and other valuables to resell and support their missions. There are also platforms like Museum Exchange which facilitates the donation of art to museums, and the museum itself will provide a tax receipt for the donated artwork once the gift is finalized, so it’s not like there’s a shortage of buyers here either.​

 

[Waifu Denier]

Dude, no... That's not the point of NFT's at all. NFT's exist to exploit the same loophole that billionaires do concerning intangible assets and taxes. If Bill Gates donates a Picasso for $1 mil to one of his charities, he gets a tax receipt for that same amount. Similarly, When I buy a $30 NFT, "appreciate" it by $30, and donate it to the Salvation Army, I get a tax receipt for $60. That is literally the only reason why NFT's exist at all. That is their primary, overarching purpose. They're tax sheltering vehicles.

I only really use it as a strat to protect my investment income from the government. Take that MF who spent like $300k on a picture of a rock, for example. It's art, so he can appreciate it as much as he wants to and donate it without being scrutinized by the IRS. He's pretty much ensured he never pays another cent in taxes as long as he has a nonprofit that'll accept it as a donation. That's why I suggested using it to offset income that isn't made in a 401k or a Roth IRA.

Just pay the tax man, every other kind of debt you can evade or discharge with many methods, including just not paying, but the IRS is the only one that can jail you and get it one way or another. At the very least, you aren't wealth enough to actually engage in tax avoidance schemes that use complex offshore vehicles.

 

[Incongruous]

Just pay the tax man, every other kind of debt you can evade or discharge with many methods, including just not paying, but the IRS is the only one that can jail you and get it one way or another. At the very least, you aren't wealth enough to actually engage in tax avoidance schemes that use complex offshore vehicles.

I would agree that tax evasion in and of itself a bad strat with the IRS, but everyone should be able to practice the same legal tax avoidance schemes that the rich do, albeit in their own homes and within their own household budgets. Independent socioeconomic factors like one's net worth and income shouldn't discourage the use of methods that keep one's hard-earned money in their pocket. The point of NFTs is to democratize the art market, ensuring that the rich aren't the only ones able to use tax loopholes like the one I just outlined. I'm not sure whether I would characterize it as a "complex offshore vehicle" either, as there are plenty of domestic charities that accept digital art and NFT's in exchange for tax receipts.

 

[Smoltine Kiminal]

But like you can't sell those NFTs for a profit. So you're essentially giving away your money so you won't have to pay taxes on it, which is stupid. You'll end up with way more if you just park your money into stocks/etc and just pay the taxes instead of blowing money on NFTs and giving them to a charity. That is, assuming charities even want NFTs these days

i dont think you have the mental capacity to understand the art tax scam
HE appreciates the nft, he buys it for 10$, then waits a while, CLAIMS its worth 5000$, donates it to starving children in africa, they still starve because you cant eat a .jpeg, but he pays no taxes on 5000$ he made in capital gains in another place

 

[Emir_Quesadilla]

I got BTFO on gold today. I sank 12k into UUUU for nuclear, it dropped and I panic sold before swinging back into GDX only for it to drop and UUUU to swing up to 20 dollars a share today.

I am not eating these losses and giving things two-three weeks before deciding on whether or not to sell but in the meantime I am licking my wounds.

 

[Lone MacReady II]

Given the news about Silver today, I would recommend keeping an eye on the miners as I have shilled before.

 

[des Pudels Kern]

I got BTFO on gold today. I sank 12k into UUUU for nuclear, it dropped and I panic sold before swinging back into GDX only for it to drop and UUUU to swing up to 20 dollars a share today.

I am not eating these losses and giving things two-three weeks before deciding on whether or not to sell but in the meantime I am licking my wounds.

Shouldn't commodities be a pretty long term play? You really ought to just hold it as long as you can because as long as the government decides to devalue the dollar (which is forever) gold will appreciate. Maybe it's not as good a play as the S&P, but the thesis doesn't change, and neither should your investing habits. Unless you just like gambling.

I'm up pretty big for the year on gold. It's basically paying for my skydiving addiction now. Got rid of all the covered calls funds and just went mostly into cash reserves and gold in the primary brokerage. I want to hold that gold position but I wanted cash just in case I decided to go through with the whole buy a house idea.

 

[Hollywood Hulk Hogan]

i dont think you have the mental capacity to understand the art tax scam
HE appreciates the nft, he buys it for 10$, then waits a while, CLAIMS its worth 5000$, donates it to starving children in africa, they still starve because you cant eat a .jpeg, but he pays no taxes on 5000$ he made in capital gains in another place

Oh I know how it works, but he makes it sound like you park all of your money in NFTs. That's pure retarded. So you blow $10 on an NFT to donate to avoid paying taxes, what do you do with the rest of it? i would say stocks.

I'll have to disagree with your assessment for a few reasons that I'll outline below...

1. Profits from selling assets owned for one year or less are taxed at your ordinary income tax rate. This can range from 10% to 37%, so we’ll just go with the median of 23.5%. Gains from selling collectibles like art or coins on the other hand are taxed at a maximum rate of 28%. I would by-and-large lose more to taxes if I parked my money in NFT’s hoping that they’d appreciate in value as an investment than I would by simply using it as a tax sheltering vehicle.

2. “Giving away” money for a tax break would indeed be counterintuitive if (a) I couldn’t artificially increase the amount I would receive by inflating the asset’s value on my balance sheet, and (b) it didn’t give me control over where my tax dollars go. What I mean by this, is that if I made $100 from an investment, and had to pay income tax on it (forgoing any tax deferral/sheltering methods), I would pay $23.50 on average, going by the rate I outlined in (1). If I were to use an NFT effectively, I would purchase a $10 NFT, donate it with a fair value adjustment of +$13.50, and offset my $23.50 tax burden to only $10 of actual money spent, because my “art” purchase appreciated it the rest of the way.

3. Charities like DAFgiving360 and Helping Hands of America Foundation accept donations of art objects and other valuables to resell and support their missions. There are also platforms like Museum Exchange which facilitates the donation of art to museums, and the museum itself will provide a tax receipt for the donated artwork once the gift is finalized, so it’s not like there’s a shortage of buyers here either.

So what do you invest in besides the NFTs that you plan to inflate the value of?

 

[Guyspleasedontfight]

This is why I haven't pulled the trigger on a house yet. I think everything in my price range is so enormously overpriced it's just better to rent. I have people telling me to just get anything I can right now to protect myself against future price appreciation, but if worse comes to worse I could just have my money and live in a car, or keep my roommates. My rent with roommates is like $400 a month and I'd rather watch that disappear than watch tens of thousands disappear in one fell swoop fixing a lemon. I kinda wish I knew someone who was into housing that could guide me into it, but still the process is also intimidating and so time consuming. You gotta get time off of work to talk to people and do paperwork and look at houses and meet with inspectors and put in offers like a dozen times. Personally I think owning is for the birds.

I’ll recommend the scuffed realtor streams by nick rochefort if you enjoy long streams. I find them entertaining but I also enjoy real estate. If you don’t feel like watching I’ll give the best advice he always gives, you always want to get the right house at the right price. Interest rates just went down a bit, which gives a bit of life in a flagging real estate market. But keep your eyes out in the coming months, forclosures are up and a bunch of bloat government jobs got cut. I think there’s going to be a lot of good, reasonably maintained houses on the market for a solid price in the next year or two.

https://www.youtube.com/live/M8PSDzrX7kM?si=Sh923nxjnQdcyvP8

 

[Incongruous]

Shouldn't commodities be a pretty long term play? You really ought to just hold it as long as you can because as long as the government decides to devalue the dollar (which is forever) gold will appreciate. Maybe it's not as good a play as the S&P, but the thesis doesn't change, and neither should your investing habits. Unless you just like gambling.

I'm up pretty big for the year on gold. It's basically paying for my skydiving addiction now. Got rid of all the covered calls funds and just went mostly into cash reserves and gold in the primary brokerage. I want to hold that gold position but I wanted cash just in case I decided to go through with the whole buy a house idea.

Personally, I don't see commodities as investments nearly as much as they are inflation hedges. What I mean by this is that precious metals like gold and silver only really tend to go up in shitty macroeconomic conditions. Say I have $50 in gold and $50 in cash/securities/etc. When the value of the cash backing my securities drops, it will drop in relation to gold. This tends to be inversely proportional. On average, if gold drops by $20, my securities will increase by $20.

(The reason why I put traditional securities alongside cash is because while the value of securities tend to inflate alongside M2 inflation, the cost of everything else tends to inflate as well. Whether I have to sell a $10 stock to afford an $8 loaf of bread or an $100 stock to afford an $80 loaf of bread, my actual wealth didn't change regardless of how much the number in my portfolio increases. Inflation eats up value no matter what vehicle I'm invested in.)

To me, owning gold is a strat that prevents me from losing the wealth that I've accumulated to inflation, in the same way that tax shelters keep me from losing my wealth to the government. I don't really view it as an investment at all. It might not help me to win, but it does keep me from losing.

 

[Incongruous]

So what do you invest in besides the NFTs that you plan to inflate the value of?

The whole point of these things are to be able to afford my degenerate online lifestyle and somehow gain enough money to be able to retire comfortably. That being said, I have a few strats that I'm currently using...

1. I'm using both my roommates to pay 85% of the ongoing costs to operate my condo (3 bed, 2 bath). The reason why roommates are advantageous to me is that I don't have to purchase another piece of property. If I did, I'd also have to give up the "primary dwelling" designation of my current place, which would mean incurring another tax burden that I don't want to pay. So even if you own just a single piece of real estate in your portfolio, you can still reduce your overall household expenses by a relatively large amount using this strat, which still works 5 years after I started it.

2. Using the income that was freed up from (1), I rode the HNT wave from $3 in 2020 to ~$35 in 2022. There are plenty of long-term mining options for crypto, but I wanted a service-based business model that was both relatively stable and straightforward. Nowadays I'm invested in server infrastructure (business PPE) to mine Storj and Siacoin as passive income. Renting cloud storage might only bring in beer money after electricity, overhead, maintenance, and taxes, but it's alright.

3. In 2023 I wanted to diversify away from crypto since I was concerned about market volatility, so I started using P2P lending platforms (private debt) as a means of ensuring a steady flow of passive income while I worked on my vending machine hustle, which also primarily brings in passive income. I'm still using both strats to this very day. For private lending, I'm currently invested in both B and CCC rated debt (B ratings and below indicate that material credit risk is present) which sure, you could interpret as "yield chasing" for a 24% return compounded monthly, but I think I've mitigated my risk with a few different Vanguard funds.

4. On top of the vending machine hustle, I also started a moped rental company for delivery drivers last year. Market segmentation research indicates that Uber Eats, DoorDash, GrubHub, Instacart, etc. all have extremely high growth potentials, so if you're looking for some stocks to invest in, there are a few ideas. Since 2023, DoorDash's market cap has rebounded strongly, more than quadrupling from the 2022 low and reaching $114 billion by October of this year. Overall, I think it's a great emerging market, and providing PPE to new service operators is proving to be a relatively blue-ocean strategy all things considered.

5. In addition to the businesses and investments that I listed, I also use gold coins (not bars, bars are a rip-off) to insulate my position against both inflationary and political risk, while using NFT's to reduce my nominal tax burden to near zero.

 

[Local FloRida-man]

I got BTFO on gold today. I sank 12k into UUUU for nuclear, it dropped and I panic sold before swinging back into GDX only for it to drop and UUUU to swing up to 20 dollars a share today.

I am not eating these losses and giving things two-three weeks before deciding on whether or not to sell but in the meantime I am licking my wounds.

Sorry to hear that man. Uranium stocks, especially ones in their growth phase like UUUU are hyper volatile right now. Unless you really believe in the sector and are willing to hold during stormy weather, might be better to take it easy, relax, and stick with reliable blue chips.

If it makes you feel better I waffled a bit during the downswing as well. I decided to sell PMCCs as downside protection.... but now the stock keeps swinging upward, forcing me to roll up and out more and more. I don't have any realized losses yet, but I'm praying the stock crabs next week because I'm gonna lose so much fucking cash if I keep winning like this.

 

[DSP's Tax Lawyer]

Everyone bitching about my IRA can stop. I am up over 2.7% in the past 3 weeks

 

[TheRedChair]

Sorry to hear that man. Uranium stocks, especially ones in their growth phase like UUUU are hyper volatile right now. Unless you really believe in the sector and are willing to hold during stormy weather, might be better to take it easy, relax, and stick with reliable blue chips.

If it makes you feel better I waffled a bit during the downswing as well. I decided to sell PMCCs as downside protection.... but now the stock keeps swinging upward, forcing me to roll up and out more and more. I don't have any realized losses yet, but I'm praying the stock crabs next week because I'm gonna lose so much fucking cash if I keep winning like this.

These are just he simple facts of dealing with the market. I give praise to all who delve serious on this aspect of the market. I do dabble alittle in the recent past and a shit load during the DoT.com era. It's a lot of work.. so you have me respect.

Secondly. Thank you for the positive input. I put in my opinions here because there are a lot of smart and savy people "doing the business". As stated before I come here to also learn and try to keep abreast of aspects of the various sectors of the economy.

As stated before there is an old saying

Dead @ 30.
Buried @ 72.

Meaning: As we get older our vision, our viewpoints, in life tends to get narrowed. And if that happens your life can not grow because you have insulated yourself with your narrowminded viewpoints.

You are essentually as you can not learn and adapt to the ever changing world that we live in.


This is why I have so many different skill sets in life. Both White collar and blue collar skill points.

But I'm still learning different things and as an old man I'm not ashamed to say that at all. I'm still learning shit which is good.

I find this sector of the post theraputic as it keeps my mind active as I do the research on other people's aspects of attaining wealth. I find that most enjoyable indeed when I see people succeeding when most people often fail.

That saying...

Always do your research while investing into the sector of markets you want to invest in!

 

[General Emílio Médici]

I keep suffering from success on my OKLO purchase. While I did sell some of mine close to ATH it did not crash nearly as much as I expected. Instead of the 80 bucks I was shooting for the lowest it got was around 110 and it is now rising again and up to ATH again at 150. At least I hedged my bets by keeping 7 of my shares around.

 

[Hollywood Hulk Hogan]

I keep suffering from success on my OKLO purchase. While I did sell some of mine close to ATH it did not crash nearly as much as I expected. Instead of the 80 bucks I was shooting for the lowest it got was around 110 and it is now rising again and up to ATH again at 150. At least I hedged my bets by keeping 7 of my shares around.

Maybe the retard president will make more tariff tweets like he did about China a few hours ago and crash it some