/biz/ - Business & Finance

[Anonymous No.11862412]

inb4 larping

my parents are small business owners. College educated but definitely working class people I think, which allowed me to have a pretty normal childhood (I'm 28 now).

I didn't grow up rich, in fact my parents almost got a divorce when my mom was pregnant with me because the business was hurting, but they persevered and succeeded. Over the years they accumulated multiple properties in different major US cities, and when they finally sold their business to retire a few years ago they bought 5 more condos in NYC, LA, and SD.

Basically I'm going to inherit about 12-15MM in properties if the current market doesn't change too much. This is about 30-40k/month in rent after carrying costs.

I worked for a few years after college, but stopped after my parents passed on a few properties to me (to start the transition, though they'll keep most until they pass away). I get about 5k/month in rent, and I live in one of the condos so I only have to pay 500/month in HOA fees (though property taxes are almost 10k/year, I have to pay those myself unfortunately).

How do I proceed? My parents want me to continue accumulating properties with business loans/helocs and amass an empire, but there has to be an easier way to make money with real estate.

[Anonymous No.11862672]

>>11862412
>my parents are working class people i think
>im going to get 12 - 15 million

sage