Detailed Story (Part 22)

This is the 22nd video of the detailed series. These videos are in mostly chronological order.

In this video I speak about being removed from the family business, eliminating my ability to rely on that as an income source in the future, which was a demoralizing event due to my deteriorating health and my increasing realization that the business might just be my only hope for income in the future. My parents also turn down a particularly good real estate investment, which would have benefited them tremendously and allowed me to escape my landlord. This also would have allowed me to be freed of the shackles placed on me by the IRS, in the form of being sentenced to the punishment of renting indefinitely. Dave forces me out of all storage locations.

Regarding the return on investment: I realize the figure of a 7 year return on investment without explaining how I arrived at that figure seems inaccurate because with a 215,000 dollar purchase price and 4,500 dollars of rent income, the return on investment is closer to 4 years. I stated 7 years because I would have stayed there about a year to work on it, so with the lack of that units revenue for that year plus the cost of materials and putting about $5000 a year into a maintenance /emergency fund I gave a very conservative figure of 7 years and thereafter we would receive a return every 4 years or so.

I also wanted to mention that If my parents had purchased that building, eventually I would have owned it and at that point I would have reduced rent by about 50-65%. Rent is far too expensive. I could have still been making enough profit to live well by taking in $1800 per month from that building rather than $4500. Rent has become a burden of about 1/3 of a persons income for average citizens of this country and that only serves to weaken that population who is forced to rent and in turn those people have a very difficult time being productive members of society and living a fulfilling life.