I am a 21 year old, self employed landlord earning 220K USD per year after tax

It was sarcasm.

how will you celebrate?

I already celebrated

what options plays did you make?
whats the total value of your portfolio? who does your insurance? how much do you pay in insurance?

here's my proof - I remote accessed my work pc and pulled up a $1.2M policy my team bound up on friday. 4,000 apartment units between ~60 buildings.

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also what area of the country are you in?

Tesla, Apple and Raytheon.

Total value is around 18 million US. I can't say who does my insurance but I pay 50k US per year which covers me up to 3 million dollars per property if someone gets injured in any of them and also the total cost of rebuilding each house if anything happens (god forbid)

Not in the US

3M liability is a weird number. everything I've seen is 1M/occurence 2M/aggregate per location or 2M/occ 4M/agg. but that would explain that. I only work on US portfolios.

I assume you bought these in cash? most mortgages require a higher limit than 3M liability.

Everything you said so far is plausible but I'm still skeptical lol. Would you mind saying what country you're in?

I was offered a 3 million dollars and 7 million dollars but I took the 3 because I couldn't afford the 7 at the time since I pay them yearly.

I bought all in cash, got 15% off each property (which is a fuck load where I am) because they all came from the same realtor.

I'd rather not say what country because of my specific situation and rarity, I was on the papers.

I am in western Europe.

>I'd rather not say what country because of my specific situation and rarity, I was on the papers.
>I am in western Europe.

before I got into real estate insurance I would have said fat fucking chance but more and more I'm seeing my clients have articles written about them just for buying buildings. The client whose policy I posted just had one written about them a few months ago for a block of buildings they purchased.
If you were in the NYC area I'd probably be able to figure out who you are lol.

anyway - what made you decide to make the retarded decision to gamble a bunch of loans on options? did you drop all your cash at once on one option or did you do it piecemeal? once you doubled your money did you pay back your loans and continue gambling with the profits or did you just keep gambling lol

4000 apartment buildings across 60 units don't think so and mostly due to the terminology you have used...

This sort of portfolio would encompass a network of stakeholders and require a small army to maintain etc, the overheads would be a liability and you would have shifted your investment many units ago l

I used to browse on /r/wallstreetbets so options seemed like a great idea. Used leverage from several brokers over and over again, I gambled it all since I was already in deep shit.

lmao what? they're NYC apartment buildings averaging 66 units a building.
what terminology do you want me to use? want me to pull out jargon that no one but insurance guys understand on Cred Forums?
correct, its owned property management company thats run by a billionaire family. I'm not OP. that's just a firm I do the insurance for.

New I was right didn't need the affirmation but cheers

You look like a club slut for real

lmao. you're an extremely lucky man. Cred Forums is a magical place.

>Bragging about renting your second bedroom

San Francisco, everybody.

You're a jew

What kind of incel thread is this? TITS or GTFO

So your looking for an older guy? K I K me xcrazzyone SC zeeeone1

>self employed landlord
So basically you don't do anything but sit on your ass and get paid. Nice job bro!

I’m not a Jew, damn it.

not op, I'm the insurance guy - 75% of my clients are jewish families.
we were on a renewal call with one guy a month ago and the conversation went like this
>coworker: "Clientanon, we're not going to be able to do [thing] if you don't do [thing]. The world has changed, Clientanon."
>client: "Yeah I know the world has changed, I used to be a nice Jewish boy from Long Island, now I'm just a prick who runs a real estate company. Have you seen the fucking ads the City is running in the subway? I'll text them to you"
>coworker user: *miming playing the violin*
to be fair the city was running some ad campaign about how landlords are bad and gentrification is bad.

anyway - I'm young and haven't been in the business long and it felt like that scene from wolf of wallstreet where Belfort is miming doggy style while on the phone with the client. I love my job.

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How much do you earn and how old are you?

I'm not in sales so I'm not making big money. I do the backend work. The commission on that client's policy is $120k. 25% of that commission goes into the salesman's pocket and the other 75% goes to the expenses of running the company and paying the account managers (me). that said
>60k
>24
I just graduated at 22 and I've been with the company for two years. I'm still in a "mentorship" position where I'm working directly with a dude that's been in the business for 30 years everyday and he's teaching me everything. I assist on all his accounts, I don't have my own book yet. It's a very complicated business.
My mentor/boss, who has been doing this for 30 years, makes well over $200k.
If you're wondering about job title, it's a "Middle Market Account Manager" at an Insurance Brokerage. Once you've been at a company for 10 years or so and you're good you become a VP make the money my mentor/boss is making.