What would you do with 100k in savings and plenty of time

by DavidiusBurachamp. Posted on Sep 12, 2020    0    6


I have no debt, less than 2k in expenses per month above 800 FICO and 100k+ sitting in the bank, no kids not married.

My story: I’m in my late 30s, dean’s list in college but left in the middle of a class because I’d rather focus my time and energy into myself and creating my own business started to sell real estate at a young age then through a friend that worked in the government that bought a property from me asked if I was interested in a position involving my programming skill set during the Iraq war.. went to work for the government starting at 23 which let me see the world lived in war zones for a couple of years went back home started a media company with a partner at first just websites 14 years ago then evolved into identity/branding and of course website was a part of it in the beginning it was brick and mortar and like many read four hour work week back in 2006 wasn’t happy back in my hometown watching the cycle of keeping up with the Joneses, moved to Paradise outside of the USA just wanted to get back to nature after a bad business partnership where everything was in my name and I had to pay it all off after getting screwed by a partner. (We were young didn’t know what we were doing but friends now.)

That was 10 years ago one of the best things I’ve ever done for myself living on a mountain with my dog in paradise surfing, hiking in the jungle every day playing with monkeys even dated some really beautiful Latin women too many experiences to mention.. I would build some websites here and there as it didn’t take much to live good and be honest I was so damn happy I would cry the end of most days purely out of happiness. In a great head space. Really got to know myself when I silenced the outside. But after an event that created a dark/difficult time in my life.. started to dig in and wanted to get higher price tickets with businesses by getting into the identity and branding side so I had a couple mentors that are pretty well-known in that space now. Got offered to come out to Santa Monica for a brand manager position when I went there I could not imagine having to sit somewhere 40 hours a week. Started looking in the nomad community since I had already been in somewhat moved to Barcelona and would spend half the year overseas and half the year back around the Caribbean. Very happy!

But what I didn’t mention is that before leaving that original tropical paradise I had started to rent one large house on Airbnb which I had a connection to the owner and this house has been sitting for 15 years the family that owned it had so much money it’s almost like they had forgot about it I wasn’t even there in the country when I started to rent it but put together a system through some people that I trusted. All remotely by the way and slowly added houses but larger houses as it was the same amount of effort really started to pick up around 2018 and then in 2019 start at the net around $12,000 a month. Lower season $3-$5000 higher season $15-$18,000. It kept growing everyone was making money we were even supporting the local communities youth as I was traveling the world truly a dream very happy and free but putting money away starting to make plans would have had a bout 250,000 sitting in the bank by around Christmas 2020.

And with Covid, the lockdowns and travel restrictions it started to fade in March and as of last week the last house was gone I have some residuals each month from my other business and when projects do come through in the media business they are always good but I really do not have any interest in that work fortunately I’m able to hand off the higher price ticket stuff but when you have that passive income it’s hard to trade hours for dollars.

Yes I know I could’ve made some investments or better decisions but I didn’t I really wanted to enjoy my life see the world while putting away the rental income.

So as mentioned in the beginning, I save some money I still live in another Paradise where the cost-of-living is low I have a nice place and I think a good position to grind over the next year I’m just torn on where to put my time.

Personally, I am a pretty proficient programmer and designer and don’t find any difficulty jumping into things in the digital space there are so many things that I see that I could jump into recently decided that I wanted create digital assets and do search analysis and build out in niche websites by creating quality content and monetize these over the next year in hopes that if I bust my ass and do everything right I will be glad that I did.

I’m sure many would know exactly what they would do in my scenario I know I’m in a good space to create but pulled in different directions with ideas.

My endgame is to make money I want to build somewhere surrounded by nature self sustained as possible wake up around the ones I love. I’m willing to put in the work would just love to hear others’ thoughts on this.


Comments

iamadamzz 1

Investments

  DavidiusBurachamp 1

What type.

iamadamzz 1

I’m not really an expert in this field, but if I had money I’d invest it somewhere. here are many types and stocks for example are a good option. Investing in yourself is great too. You can look for ways to invest

  DavidiusBurachamp 1

Trust me my friend I am on it just not sure which direction to go I’m trying to look at it as if I had no income coming in and have $100,000 to work with

GearsNimports 2

I’d meet with a financial advisor. Not one at a bank, but a place like Fidelity. In my opinion, a savings account is absolutely useless. The interest rate they give you is not beating inflation, so your money is not really growing at all.

I think you should really assess where you’re at, and what you want the next 5 years to look like. What’re you passionate about? What would you want to wake up every morning and do? If you want to start a business, I say go for it. You could always invest a small portion of the 100k into opening a business and have an advisor handle the rest. There’s so many things you could do honestly. But if you already have your feet wet with real estate, why not get into investing with real estate?

  DavidiusBurachamp 1

Thank you! Would like stay in the Internet marketing realm. Where I can make money at the computer passively or the end result being passive.

I definitely do not want a brick and mortar. I live in Mexico but pay my taxes in the USA there’s some structuring done so when you are out of the USA 330 days out of the year you are tax free up to around $107,900 as of 2020 so that’s a big help. I was on a trajectory to go well beyond that amount until Covid hit and forgive me for not being clear I wasn’t referring to a savings account as any type of strategy but I was just referring to all the money I have saved in general at the moment in the the various accounts from the deposits of my former short term rental business in Costa Rica where I was a netting on average around 12 to 13,000 a month and continuously growing. This was rental arbitrage, where I had an agreement that I could 2-3x what the owner was receiving for a long term rents by doing short term rentals as I had a strong super host account with the highest rated listings in the area I owned none of them they were very happy and word was getting around and I was slowly adding more houses after the Covid lockdowns all of that is gone.

We even purchased a new shuttle van for transportation and we’re making money not only on the rentals but people come to Costa Rica to do activities we had a nice funnel from the time of reservation was made where they could set up their trip and all the activities and made money off of each and every person in the group while providing the best rates from my relationships with all of the vendors in the area. We put hospitality first and had an overall 4.93 star rating out of a possible 5 stars.

The media business that I had I stopped
Pushing long ago (I do not enjoy it) I also have a few relationships with branding and marketing agencies in the USA all of their clients were large budgets and we handle all of the web development that would add around another 40,000 each year but was great because I handed off that work to a company in Bulgaria which I would go visit each year maintaining a great relationship

I am definitely not passionate about these websites or that business to push it any longer

I want to go for passive income.

Have you heard of EmpireFlippers.com? I really like the idea of building out these digital assets or niche websites to either hang onto or sell them at a valuation of 30x the average monthly income they generate. But at the same time I know I’m missing out on so much I’m a bit overwhelmed as to where to focus and a lot of it has to do with the current situation of the world not to be negative but it’s really hard finding hope in what is being coined the new normal that’s another topic and story which I have a strong opinion on I’m looking for some hope and all of that and really wondering what the world is even going to look like in five years. If you knew me most around me would consider me a positive guy.

I’ve already started a couple start ups to fill a void for the lack of financing for USA and Canadian citizens in Cash markets outside of the USA. I chose the areas through market research and trends. The leads are piling up in the CRM which is good. I have an agreement with a partner who is the face and I take what comes to be around 1% of all of the approved loans but I generate leads for. No client facing for me just building the sites the CRM in generating the leads everything else would be handled.

but I want to diversify when I have a clear plan I can attack it.

There’s a month long direct web project I was just contacted on that would be about $10,000 for a months worth of work if I did it myself which I can if I hand off to my partners in Bulgaria I would make a portion of that. So I would most likely knock that out myself and considering how low my expenses are I could really live comfortably for a while.

I have so much knowledge just tough as to where to put my time but I guess the better question is if I could throw a chunk of this money somewhere I know folks are out there they would know exactly what to do with that chunk of money if they have it I don’t want to look back and say damnit I wish I would’ve did this or that.

I know I may sound all over the place The outlook on the world seems a bit grim at the moment and I’m finding it hard to make any long-term decisions and really get behind any decisions when things seem uncertain in the world usually I just power through things but this whole Covid lockdown new normal is throwing me for a loop. Please pardon any typos I’m using the voice transcription on my phone