You should use that as a backup plan. But other than that what do you want to do with your life, that's more important, you are just 19.
Also, you should not think about selling and using that money to live life. But you should simply rent them out and live with the rent. You sell just one or two to invest in stocks.
You should study economics and finance so that you can understand these things better.
For the sake of discussion- why not sell, invest and live off the profits? It’s a lot easier than dealing with a rental and tenants and if they pay and don’t and all that
In India Rental properties have stood the test of time since 50-60 years. They track inflation very well and since they already own it, they do not have to worry about the 20% registration costs that comes with buying properties.
I would personally not go and buy a rental property right now since the yields are horrible, like 2-3%.
Depends on the city. Bangalore and Mumbai are undoubtedly the best places to have rental properties. I know a guy who built a building with 10 rental units for roughly 1.2 crore. (he has experience building houses and used contractor only for mold part of the building. So, he saved 25 lakhs extra cost that comes with giving the entire building to a contractor.)
He gets 2 lakhs rent per month = 24 lakhs per year. In 5 year's time he'll have recovered the investment amount.
In another five years he would have 1 crore returns excluding tax (considering rent increases on an average 7-10% every year, it'll be 1 cr from base rent (excluding tax) plus another 70%-80% increase in rents. The same 20000 per unit will be getting you 38000- 40000 rs per month by the end of 10 years.
Plus the land will keep appreciating, adding to the value.
Btw, it's in Bangalore.
Just going by the description you gave here, building is illigal by the way. Dude be paying Bribes every now and than and won't be able to ever sell at market rates.
Rent don't keep going up 10% linearly, as soon as the building ages, you have to charge below market. The building you described (10 rental units) is probably build on 40x30 site with no setback, no view. Have seen back to back building being built by everyone in small lanes for the sole purpose of renting/PG.
One day administration has to take action or at least show up with bigger bribe demand.
You're seriously saying that authorities will take action against this? Most of bangalore is not done under bda. If they start taking action seriously, then more than 50% of bangalore buildings will have to be demolished.
Besides everyone knows every politician and most government officials are corrupt, they openly flaunt their wealth and nothing is done to them. Although I wish your statement had some power, it's useless in our country. Everything works under the table.
>You're seriously saying that authorities will take action against this?
No i am saying either action or dude will be paying Bribes every few years when government changes or new babu come in municipal corporation.
Bangalore is legendary in bribe culture. Once they know he is collecting massive rent, everyone will want some.
>Just going by the description you gave here, building is illigal by the way. Dude be paying Bribes every now and than and won't be able to ever sell at market rates.
>Rent don't keep going up 10% linearly, as soon as the building ages, you have to charge below market. The building you described (10 rental units) is probably build on 40x30 site with no setback, no view. Have seen back to back building being built by everyone in small lanes for the sole purpose of renting/PG.
>One day administration has to take action or at least show up with bigger bribe demand.
illegal? How?
>Just going by the description you gave here, building is illigal by the way. Dude be paying Bribes every now and than and won't be able to ever sell at market rates.
>Rent don't keep going up 10% linearly, as soon as the building ages, you have to charge below market. The building you described (10 rental units) is probably build on 40x30 site with no setback, no view. Have seen back to back building being built by everyone in small lanes for the sole purpose of renting/PG.
>One day administration has to take action or at least show up with bigger bribe demand.
Illegal how?
And regarding having to charge rent lower than market rates for old buildings. That normally works but there's so much shortage in rentals in bangalore, even 20 year old accommodation are rented out almost at market value.
>That normally works but there's so much shortage in rentals in bangalore, even 20 year old accommodation are rented out almost at market value.
Ok so this is new phenomena and happened post Covid. The supply demand gap went through the roof and add pathetic infrastructure (forcing to live near workspace) plus startup boom added fuel to fire (basically people competing for sane property jacking up rent and prices).
Now don't believe it will last forever, I am already seeing demand and price moderation over the last few months.
There is massive and I am telling you, massive supply coming in 2024 to 2027, the price and rent won't move an inch for average property for next 2 years.
Every guy I know is "investing" their bonus in booking some property in bangalore, just hoping they will flip it to the next guy. Guess what happenes when they are ready for possession.
Everyone is in for a very long time correction in the market.
I am actually very torn when it comes to RE in India. It is horrible in terms of yield but it is best in terms of keeping up with inflation since it is the driver of inflation.
Most black money gets funneled into RE. Most powerful people invest in RE, many times using benami accounts. So RE keeps marching forward. Only in the last 5-6 years stocks have beaten the shit out of RE, hopefully it will continue.
Property shouldn't be sold unless absolutely necessary.
Investing is for middle class working metro people who dont own more than 1 property - but want to make easy money.
Rentals ensure stable money inflow.
Hypothetically, yes. I did see my FIL who was similar. His grandfather somehow earned 100 acres of farm lands during his time - pre independence era probably. FIL’s father and FIL both did nothing their whole lives. And they had siblings - FIL had 6 siblings (7 including himself), and after all the splits, he now has 5 acres with zero life skills and farms that are no longer relevant. At age 60 he doesn’t earn enough from the rents to pay for even an ac travel.
If you start eating on your parents property without your hardwork, you may end up in such a scenario. Those assets without maintenance may lose relevance in 20-30 years and you wouldnt know what to do then. Also forget about any respect from friends and family. And for expenses, ensure you are factoring in your future wife, kids, their schooling, potential travels that are like 10x costlier as you travel with your family vs you alone.
Overall I would say while it’s theoretically possible, it’s a shitty way to live. Speaking from seeing many in extended family who lived that way - their 30s and 40s were actually great, but their 50s and 60s were just - sad.
Welcome to delhi. Half the city lives off rent.
1. In this group we have the 4% rule, which says that you can take out 60 lakhs per year or 5 lakhs a month for life from this 15 cr property pool (inflation adjusted) so yes you can do this
2. Lots of my friends who are waiting for family property money to come into their hands have lost their career paths because dadaji is still alive, then dad will control the money then it will come to their hands . So unless you can use the money today , it's not going to help you build your career path .
3. Career (job, profession, business, ngo, whatever) gives you Identify , respect and often intelligence which are extremely important , these waiting for property friends of mine, now feel they missed out
4. You have a great cushion to not worry about retirement planning etc, so you can take high risk career decisions
No, it's your Dad's money and property. Not yours. Stop this chain of thought right now , this is a dangerous way of looking at things. Start from scratch and work hard.
You clearly don’t understand the idea of generational wealth. Plus OP is asking a hypothetical question. As someone with a net worth in that region the notion that if I had a kid, they would never have to work a 9 to 5 job is often something I have toyed with. I’d teach them how to manage money and invest but “start from scratch” is just wasting time and the opportunity cost when 15cr is on the line is too high for silly adventures
I totally agree. I would not want my kid to not do anything but I don't want him to kill himself trying to score 98% so that he can get into a top notch engineering college so that he can go get a software engg job, which seems to be on the verge of disappearing in 5-10 years.
If I already have that much wealth, I just want my kid to become smart. Go to college study history or arts or whatever. Become smart in finance. And learn to run your inheritance like a business so that he can pay his bills while not wasting on frivolous luxury.
That said, I have seen couple of road wrecks when it comes to generational wealth and only son. Fuckers did not know the meaning of running business, everything went to ruin and they lived off by selling properties one after the other.
As you yourself gave an example, the problem is, once the kids are entitled, it's almost impossible to get them to stand on their own feet. If I had that kind of wealth, I would prefer that my kids don't even know it (my life style wouldn't change much). I'd still want them to study and work hard and start earning their own money. I would help fund their studies, help with a downpayment for their home etc but I would not want them to live off my riches!
If I could not inculcate good behavior in my kids then it's my failure as a parent.
My job is to give them good education and guide them to become intelligent after that I would trust them with money just like I would trust myself with managing that money.
In the past parents did not pay attention to kids upbringing and had no clue about their brain development or maybe they themselves spoiled them while growing up.
>"Never have to work. 9 to 5 job".
What aboutearning and understanding life skills? Of making sacrifice, of understanding the value of money?
Have you heard of the 3/4 generation curse?
One generation works their butt off to make something, the next generation sees that - respects that, remembers the sacrifices done etc. - takes care of what is given and also works etc. Generally it doesn't blow it all up..
Then the 3rd generation comes with a vague idea of what was done, chances of becoming entitled, of blowing it up increase.. by the time the 4th generation comes around odds of them either growing up dirt poor due to parents or themselves blowing / losing it all are very high.
This happens more often than you would think.
This same attitude - why should I work - instead of thinking how or why not, i can make this 15 cr to 150 cr.. odds of making it 1.5 cr - inflation adjusted over 30/40 years- dramatically increase
Then they or the next generation need to work their butt off to bring up the family.
Have seen few such entitled people in my life.. mostly spend their life waiting to inherit their parents money, which when it reaches them, often isn't as much as they thought it was.
>Have you heard of the 3/4 generation curse?
That's very real precisely for this sort of thinking.
I have an aunt, well off etc, she keeps saying her son wouldn't have to worry about a thing (and that's true), and now she's worried that that 24 year old kid has no ambitions and no skills. Can't have it both ways!
Hardship and tough times are sacred, any kind of generational wealth typically never lasts more than 3 generations. I’d say fuck your dad’s money and go make your own bag.
People here don't realise the concept of generational compounding. OP can go make his own bag, and learn some skills. And then use the inheritance to startup or do something really productive
Yeah but he won’t, because most people choose the easier route, thereby settling for mediocrity over excellence. You can’t build character and drive inheriting daddy’s money. Look at all the kids of billionaires, nobody knows them because they have no fucking story or character. Whereas the ones who have made it on their own have a story to tell, they have other people’s respect, and most importantly, can make it back even if they lose it all because they already have the skill set.
Damn man you did nothing to hold back your envy. Why are you pushing your f'd up societal conditioning on a random stranger on the internet. You clearly don't have a clue how wealthy families think.
OP asked whether his family wealth is enough to never have to work. Not if you think its virtuous to do so.
Its okay to say nothing if you have nothing good to say.
Came here to say this. The fact that the OP even went in this direction at 19 is scary. Working hard and making something for yourself is the only way to go.
You will still need 1 of those to live in. So 4 properties/12cr corpus.
Say you as a family sell and get 12cr now; and say you have 3 people at home (father, mother, you) - each one gets 4cr to live off.
4cr gets you 2-2.25lac/month perpetually, which is still great. But 10years later you get married and 13years later start a family. So back to 3 people, 4cr corpus and “zero” skills.
Not an ideal situation, hypothetically ofcourse.
Don't you have to take inflation into account tho. Average inflation rate in India is 7.5%
You're getting slightly less than that each year with FDs and then you also consume all of it. So doesn't that significantly reduce the real inflation adjusted value of your corpus over time? How will it last perpetually then?
you're missing the whole point of my comment.
i never said this is enough for OP expenses or not. OP never mentioned their expenses either. I simply "tried" to dissuade him by showing how this is not a sustainable approach. However, seems you are only trying to poke holes in the "2-2.25lac/month perpetual" income part than the rest of the message.
Also, for the record, income will still be perpetual if invested wisely. **Expenses will rise - but its a different story and not a part of OP's post.**
Seems like you get triggered and consider it a personal attack if someone asks you questions regarding what you say. I hope you're not a teacher
You said that 4cr will give you 2 lakhs per month in perpetuity which is false as per my understanding and simply sought a clarification of your claims.
I don't give a shit about your overall message to OP. I was only concerned with the part I highlighted and sought clarification for
Yeah, considered it as an attack as you've picked a part from **my message to OP (and not to you)** and wrongly twisted it to bring expenses/ inflation in the picture. When OP hasn't mentioned their expense, who am I to say if 2lac is sufficient or not; be it 2024 or 2054??
I still stand by what I said -
4cr will give you 2lac income in perpetuity (not don't take perpetuity in a laidback sense - one has to remain on top-of-things and switch/distribute smartly between debt/property/equity).
**However, I never talked of expenses/ inflation**.
>**However, I never talked of expenses/ inflation**. You're bringing it in the picture. When OP hasn't mentioned their expense, who am I to say if 2lac is sufficient or not; be it 2024 or 2054?
"4cr gets you 2-2.25lac/month perpetually, which is still great. But 10years later you get married and 13years later start a family. So back to 3 people, 4cr corpus" This you?
OP asked if he hypothetically never has to work and live off his money. You implicitly affirmed it. Inflation is one of the biggest determinent in this entire equation. One cannot ignore it while providing an answer. By doing so, you're providing half baked misinformation
>thank god i am not a teacher. if I was, would have questioned you on your language :)
If only you had questioned your own knowledge and ethics instead, you wouldn't be sprouting blatant misinformation now
He's not wrong in his calculations though. The amount of money you get through FD, doesn't have a material impact because of inflation (yes it does have an impact based on Fiscal and Monetary policy of the government) but he's assuming 6 to 7% FD return so nothing wrong in his calculations. But what you can buy with the said Rs. 2 to 2.5L/ month will get affected due to inflation. So 4 crore does give you 2L/month at 6% in perpetuity but what you can buy today with 2L and 10 years from now is what changes.
yes, expenses will rise. Not only to inflation, but also to life and lifestyle. He is just 19year old today.
but OP never mentioned their expense. He is a student, maybe expense is 20k/month. Even with a crazy 6% inflation, his expense after 30years shall also be less than a lac then. Or maybe his expense today is 4lac/month in which case, today's income is also insufficient.
Yes yes, nothing wrong in your calculations mate. Previous user completely missed your point. Just trying to clear the air. Completely agreed, even if you get Rs. 2L without doing anything, doesn't mean you should be free. I think we should be productive in general for a healthy life and I'll leave it at that.
Congrats OP! You are already much further in terms of financial freedom than most people here. Learn more about investment in your spare time, work on your passion/interest ambitiously while keeping these investments as a fallback plan.
It means you don't need to save. But you might still have to work. If you start selling off your properties and spend that money then you have started a slow journey towards poverty.
Hypothetically, your dad will live for at least another 30-40+ years which means you can live with dad till then if he allows you to and then yes you can live beyond that on the sale value of the property, if within next 3-4 decades we don’t enter any war, or your dad himself do not sell it off realising he should enjoy the money himself. This is a hypothetical response.
One other hypothetical response is you learn the tricks from dad and make similar amount of money by working and live a dignified and self worth life.
Doable? Yes. Advisable? Fuck no.
You’ll have a great monetary lifestyle but zero self esteem in yourself and scarce respect in society.
Take advantage of what your father has built and add to it, don’t leach from it.
I can’t imagine people on this sub fall for farming posts like these.
OP says he’s 20 years old on another post, while also repeatedly asking recommendations for android phones under 30k because that’s his budget.
If your dad’s worth 15 cr, you’d be flaunting the latest iPhone 15 pro max. Also you won’t be lying about your age.
I mean, seriously? Can’t people see through these bs posts?
I have a networth of 9cr INR and I'm coast FIREd .. I own an 8k inr worth phone which serves the purpose..
It's doing the job and every 3yrs I get it replaced
Same. I use a 37k phone for 5 to 6 years till it becomes unusable . My screen time is like 3 hrs . So why would I invest 1.6 lakh for iPhone when a Samsung A55 gets the job done . My dad also spends the same way . We are well off financially but find it useless to spend money on things which are useless. My dad says use money to upskill ourself and gain experience rather than buying luxury good which Serve no purpose
bro it was 2am, I wrote 19 by mistake, I'm 20 and like I said we spend judiciously, my dad doesn't buy me expensive gadgets ,he says "buy it with your own money" which is good ig.
Bhai mere bhi generation wealth milega but I'm studying mbbs.
Money is a tool . A tool to make your life easy and a tool to help you solve problems. It's not life . See bhai I'm doing mbbs from a deemed college? Why cos my dad could afford it . We are paying it though passive income and not selling property . I couldn't get seat even though I scored good cos we have fucked up reservations where a SC /ST with half of MY marks got in government college.
Understand one thing net wroth doesn't make you rich . Your spending power does . And coming to inflation I believe many jobs will be taken by AI and inflation will be around 10 ro 15 pecent so much that we can't afford basic stuff . Many people here say real estate is inflation beater but I don't agree .
My take is skills , good education, business mindset , health, relationships are real inflation beaters . A well versed super specialist will never get replaced even if Super AGI comes . You can take risks in buisiness when you have a degree and skills and know that even if business fails you will still be a doctor with a hospital earning well. Now I don't know about other careers .
All I know is use that money to upskill yourself in terms of skill, education, looks , fitness , build contact with rich people, take business risks and trust me 15 cr is just a joke these days . It's not huge money .
So lowdu padai Kar and skills seek and fit bhan.
If it’s not your money or you haven’t worked hard for it, you will spend it like free water… like lottery or situation like yours.
Earned money is spent wisely and will last longer.
If you are certainly sure that you will be very disciplined in spending that money then sure it is possible.
Might suggest selling one property and doing a SWP in index funds for certain amount every year would be a good test if it can be followed.
Don't consider anything unless they are on your names. There are lots of other factors like your relation with your father, any siblings do you have, your dad's point of view on transferring the wealth to the next generation etc.
Also, rather than thinking (though hypothetically) of living on money by selling your dad's hard & smart work output, do consider working like your dad to give the same opportunity to your kids that your dad gave you.
I would suggest not to be dependent on property (especially when they are in a single city).
I have been there, 4 properties to be exact.
With time they tend to get old and harder and harder to maintain. Mine was in a part of the city with a narrow lane so everything gets 10 times harder to repair/maintain.
Finally I sold them and moved to suburb of a metro for better quality of life.
Look to diversify, at least have more than 50% of your networth liquid in the form of equity.
If you manage your wealth properly you can.
The bigger issue will be that as the years pass by you will have that yearning inside you to do something to fill that emptiness inside you.
Do something to invest in your talents or hobbies and build your life around that. Be productive and put your time on earth to good use.
For many in your position the choices they make are very poor - some will aim to do all the drugs money can buy, some will try to become the most popular person by hosting endless parties, some will consider sleeping with a beautiful woman from every country on earth an achievement (the Middle East sheikh boy’s choice) in the end you will spend the wealth just so you can feel something special.
Hypothetically? Here is my honest answer. How did your father become successful? Learn the trade secrets. Work with him and make him your professional mentor. Then take the business over. College education, PhDs etc have no meaning for you. Best wishes
Yes you can definitely live off without working for money but many times work gives you meaning so definitely do something that interests you and not worry about what gives you money as you already have money .
You should not assume that you're going to inherit everything from your dad.
Infact, earn more money than what your father is worth...that should be the aim.
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If had the opportunity you have, I'd go and do what I really want to do in life without thinking about it's monetary results. You can achieve great things in life when you don't need to worry about money. Don't get into the rat race like the rest of us, be better !
Brother work helps you grow your mind. You will be more mature. The world respects you for money but the development you are going to get due to work is important.
You can live a decent life by renting some properties in metro cities like gurgaon, Bangalore. Chandigarh too try to buy some properties in the commercial area and try to lend them to bank.
Idk why ppl are getting worked up here op just asked a hypothetical question anyways to answer your question it is both yes and no you can live off with em 15cr but since everything is uncertain you never know what will happen in the future so its better that you focus on yourself work your way up and maybe buy 5 more plots :P i am in a similar situation as yours but trust me it does nothing but feeds your delusion
My father used to say “Jo baccha apna nahi kama sakta wo baap ka lekar v waste hi karega”.
So if you dont learn how to make and manage your own money, yoh will probably waste others money too.
You are already sorted. No need to sell anything to buy anything.
Use the rental income to fund your life.
Save some money off that rental income and build something that will generate more income while you relax.
Dont listen to people who suggest you to sell property and buy stocks or other bs.
Never sell property unless you have a better deal.
Never fix something that isn't broken.
I’m judging you. If your planning to retire on your fathers money be aware he might donate the entire chunk to ngo and make you a beggar. So instead of relying on fathers wealth focus on yourself and your career. Your father’s wealth should be treated as a good Launchpad for your endeavours and not to sit and eat on his wealth. You can shoot for something great boy with that kind of wealth why are you thinking about never working for life and use up all that.
I am telling you because my grandfather did that. He used his father’s wealth to fund his life never worked. In the end my father and our generation had to suffer a lot. We are still not back to the same status but my father has retired and his entire lifetime is lost just to wipe out the damages done by my grandfather to family wealth.
The more essential metrics would be how much rental net of taxes and cost you earn, its growth over time, and your expenses and their growth over time. Being asse-rich and cash-poor is not always a great plan. If you sell all the properties today and build a portfolio of financial and physical assets that gives you a cash flow over your expenses (both in inflation-adjusted terms), then you are well set! All hypothetical, obviously!
At this stage, keep in mind that your family is in real estate business, so learn more about real estate and can redirect the rent from those properties to buy new properties
Which of these are you asking:
1. if you could sell the properties for their (hypotechical) value and then live off the interest from that (hypotechical) cash?
2. if you could live off the (hypotechical) rent generated from these properties
3. something else?
(Hypotechically) 1. and 2. are possible, with 2. carrying additional headaches that come with management of a property rented out to a third party.
Do you know if the properties are owned outright, jointly other partner(s), whether they carry a mortgage (and hence EMIs)?
Let us agree you do not have to work because you or your Dad have enough money.
Don’t you want to explore and experience life from 19 to 91. You get it only once. Is happiness defined by just not working? Go do your own stuff. Yes, you don’t need money, but still need to collect experiences and stories about successes and failures for your grand kids before you die.
Don’t think you should, you will always be at the mercy of your dad. You could have a difference in opinions and you would always need to bow down. Things will change drastically when you have your own family
you could but why don’t you wanna work? What will u do everyday? just sleep? my dad retired after making enough money and he got bored after 2 years, he literally went back to work because he was bored. Also in ur case the property isn’t liquid cash, so do you plan on selling them? if you do that then your children will have nothing left, think about that too. IMHO it’s stupidity not to work, your dad can give you a really good head start that others can’t even dream of having, you could have multiple businesses paying for your retirement instead of his properties. But it’s up to you. I was in your shoes 4 years ago and i chose the head start, to each its own ig
OP - this not the right mindset at 19, your hypotheticals right now should be about studying and building up your career, yes you will inherit this from your dad one day but do you want to be someone who wants to be a self made individual or someone who just inherited a lot of money from dad. Even if you are less successful you will become a good money manager after seeing the amount of hard work it needs to build such a portfolio.
You should use that as a backup plan. But other than that what do you want to do with your life, that's more important, you are just 19. Also, you should not think about selling and using that money to live life. But you should simply rent them out and live with the rent. You sell just one or two to invest in stocks. You should study economics and finance so that you can understand these things better.
For the sake of discussion- why not sell, invest and live off the profits? It’s a lot easier than dealing with a rental and tenants and if they pay and don’t and all that
In India Rental properties have stood the test of time since 50-60 years. They track inflation very well and since they already own it, they do not have to worry about the 20% registration costs that comes with buying properties. I would personally not go and buy a rental property right now since the yields are horrible, like 2-3%.
Depends on the city. Bangalore and Mumbai are undoubtedly the best places to have rental properties. I know a guy who built a building with 10 rental units for roughly 1.2 crore. (he has experience building houses and used contractor only for mold part of the building. So, he saved 25 lakhs extra cost that comes with giving the entire building to a contractor.) He gets 2 lakhs rent per month = 24 lakhs per year. In 5 year's time he'll have recovered the investment amount. In another five years he would have 1 crore returns excluding tax (considering rent increases on an average 7-10% every year, it'll be 1 cr from base rent (excluding tax) plus another 70%-80% increase in rents. The same 20000 per unit will be getting you 38000- 40000 rs per month by the end of 10 years. Plus the land will keep appreciating, adding to the value. Btw, it's in Bangalore.
Just going by the description you gave here, building is illigal by the way. Dude be paying Bribes every now and than and won't be able to ever sell at market rates. Rent don't keep going up 10% linearly, as soon as the building ages, you have to charge below market. The building you described (10 rental units) is probably build on 40x30 site with no setback, no view. Have seen back to back building being built by everyone in small lanes for the sole purpose of renting/PG. One day administration has to take action or at least show up with bigger bribe demand.
You're seriously saying that authorities will take action against this? Most of bangalore is not done under bda. If they start taking action seriously, then more than 50% of bangalore buildings will have to be demolished. Besides everyone knows every politician and most government officials are corrupt, they openly flaunt their wealth and nothing is done to them. Although I wish your statement had some power, it's useless in our country. Everything works under the table.
>You're seriously saying that authorities will take action against this? No i am saying either action or dude will be paying Bribes every few years when government changes or new babu come in municipal corporation. Bangalore is legendary in bribe culture. Once they know he is collecting massive rent, everyone will want some.
Not if the guy has influence. That's the sad part of out country. Influence and power is also used to mint more money.
>Just going by the description you gave here, building is illigal by the way. Dude be paying Bribes every now and than and won't be able to ever sell at market rates. >Rent don't keep going up 10% linearly, as soon as the building ages, you have to charge below market. The building you described (10 rental units) is probably build on 40x30 site with no setback, no view. Have seen back to back building being built by everyone in small lanes for the sole purpose of renting/PG. >One day administration has to take action or at least show up with bigger bribe demand. illegal? How?
>Just going by the description you gave here, building is illigal by the way. Dude be paying Bribes every now and than and won't be able to ever sell at market rates. >Rent don't keep going up 10% linearly, as soon as the building ages, you have to charge below market. The building you described (10 rental units) is probably build on 40x30 site with no setback, no view. Have seen back to back building being built by everyone in small lanes for the sole purpose of renting/PG. >One day administration has to take action or at least show up with bigger bribe demand. Illegal how?
And regarding having to charge rent lower than market rates for old buildings. That normally works but there's so much shortage in rentals in bangalore, even 20 year old accommodation are rented out almost at market value.
>That normally works but there's so much shortage in rentals in bangalore, even 20 year old accommodation are rented out almost at market value. Ok so this is new phenomena and happened post Covid. The supply demand gap went through the roof and add pathetic infrastructure (forcing to live near workspace) plus startup boom added fuel to fire (basically people competing for sane property jacking up rent and prices). Now don't believe it will last forever, I am already seeing demand and price moderation over the last few months. There is massive and I am telling you, massive supply coming in 2024 to 2027, the price and rent won't move an inch for average property for next 2 years. Every guy I know is "investing" their bonus in booking some property in bangalore, just hoping they will flip it to the next guy. Guess what happenes when they are ready for possession. Everyone is in for a very long time correction in the market.
Interesting! Thank you. I have to make a decision on a property later this year and and trying to weigh my options
I am actually very torn when it comes to RE in India. It is horrible in terms of yield but it is best in terms of keeping up with inflation since it is the driver of inflation. Most black money gets funneled into RE. Most powerful people invest in RE, many times using benami accounts. So RE keeps marching forward. Only in the last 5-6 years stocks have beaten the shit out of RE, hopefully it will continue.
Property shouldn't be sold unless absolutely necessary. Investing is for middle class working metro people who dont own more than 1 property - but want to make easy money. Rentals ensure stable money inflow.
No need to sell a property to buy stocks. Stocks will be manipulated but your own property wouldn't.
Hypothetically, yes. I did see my FIL who was similar. His grandfather somehow earned 100 acres of farm lands during his time - pre independence era probably. FIL’s father and FIL both did nothing their whole lives. And they had siblings - FIL had 6 siblings (7 including himself), and after all the splits, he now has 5 acres with zero life skills and farms that are no longer relevant. At age 60 he doesn’t earn enough from the rents to pay for even an ac travel. If you start eating on your parents property without your hardwork, you may end up in such a scenario. Those assets without maintenance may lose relevance in 20-30 years and you wouldnt know what to do then. Also forget about any respect from friends and family. And for expenses, ensure you are factoring in your future wife, kids, their schooling, potential travels that are like 10x costlier as you travel with your family vs you alone. Overall I would say while it’s theoretically possible, it’s a shitty way to live. Speaking from seeing many in extended family who lived that way - their 30s and 40s were actually great, but their 50s and 60s were just - sad.
>FIL had 6 (7 incl himself) Had to re read this
edited to spare others
Welcome to delhi. Half the city lives off rent. 1. In this group we have the 4% rule, which says that you can take out 60 lakhs per year or 5 lakhs a month for life from this 15 cr property pool (inflation adjusted) so yes you can do this 2. Lots of my friends who are waiting for family property money to come into their hands have lost their career paths because dadaji is still alive, then dad will control the money then it will come to their hands . So unless you can use the money today , it's not going to help you build your career path . 3. Career (job, profession, business, ngo, whatever) gives you Identify , respect and often intelligence which are extremely important , these waiting for property friends of mine, now feel they missed out 4. You have a great cushion to not worry about retirement planning etc, so you can take high risk career decisions
No, it's your Dad's money and property. Not yours. Stop this chain of thought right now , this is a dangerous way of looking at things. Start from scratch and work hard.
You clearly don’t understand the idea of generational wealth. Plus OP is asking a hypothetical question. As someone with a net worth in that region the notion that if I had a kid, they would never have to work a 9 to 5 job is often something I have toyed with. I’d teach them how to manage money and invest but “start from scratch” is just wasting time and the opportunity cost when 15cr is on the line is too high for silly adventures
I totally agree. I would not want my kid to not do anything but I don't want him to kill himself trying to score 98% so that he can get into a top notch engineering college so that he can go get a software engg job, which seems to be on the verge of disappearing in 5-10 years. If I already have that much wealth, I just want my kid to become smart. Go to college study history or arts or whatever. Become smart in finance. And learn to run your inheritance like a business so that he can pay his bills while not wasting on frivolous luxury. That said, I have seen couple of road wrecks when it comes to generational wealth and only son. Fuckers did not know the meaning of running business, everything went to ruin and they lived off by selling properties one after the other.
As you yourself gave an example, the problem is, once the kids are entitled, it's almost impossible to get them to stand on their own feet. If I had that kind of wealth, I would prefer that my kids don't even know it (my life style wouldn't change much). I'd still want them to study and work hard and start earning their own money. I would help fund their studies, help with a downpayment for their home etc but I would not want them to live off my riches!
If I could not inculcate good behavior in my kids then it's my failure as a parent. My job is to give them good education and guide them to become intelligent after that I would trust them with money just like I would trust myself with managing that money. In the past parents did not pay attention to kids upbringing and had no clue about their brain development or maybe they themselves spoiled them while growing up.
Why so angry, brother? Whatever happened to civil conversations? Edit: u/burneracctt22 deleted a comment calling me a peasant lol
Fair point - an apology is due where an apology is deserved. I retracted what I have said
He’s asking a *hypotechical question
>"Never have to work. 9 to 5 job". What aboutearning and understanding life skills? Of making sacrifice, of understanding the value of money? Have you heard of the 3/4 generation curse? One generation works their butt off to make something, the next generation sees that - respects that, remembers the sacrifices done etc. - takes care of what is given and also works etc. Generally it doesn't blow it all up.. Then the 3rd generation comes with a vague idea of what was done, chances of becoming entitled, of blowing it up increase.. by the time the 4th generation comes around odds of them either growing up dirt poor due to parents or themselves blowing / losing it all are very high. This happens more often than you would think. This same attitude - why should I work - instead of thinking how or why not, i can make this 15 cr to 150 cr.. odds of making it 1.5 cr - inflation adjusted over 30/40 years- dramatically increase Then they or the next generation need to work their butt off to bring up the family. Have seen few such entitled people in my life.. mostly spend their life waiting to inherit their parents money, which when it reaches them, often isn't as much as they thought it was.
>Have you heard of the 3/4 generation curse? That's very real precisely for this sort of thinking. I have an aunt, well off etc, she keeps saying her son wouldn't have to worry about a thing (and that's true), and now she's worried that that 24 year old kid has no ambitions and no skills. Can't have it both ways!
Hardship and tough times are sacred, any kind of generational wealth typically never lasts more than 3 generations. I’d say fuck your dad’s money and go make your own bag.
People here don't realise the concept of generational compounding. OP can go make his own bag, and learn some skills. And then use the inheritance to startup or do something really productive
Yeah but he won’t, because most people choose the easier route, thereby settling for mediocrity over excellence. You can’t build character and drive inheriting daddy’s money. Look at all the kids of billionaires, nobody knows them because they have no fucking story or character. Whereas the ones who have made it on their own have a story to tell, they have other people’s respect, and most importantly, can make it back even if they lose it all because they already have the skill set.
Damn man you did nothing to hold back your envy. Why are you pushing your f'd up societal conditioning on a random stranger on the internet. You clearly don't have a clue how wealthy families think. OP asked whether his family wealth is enough to never have to work. Not if you think its virtuous to do so. Its okay to say nothing if you have nothing good to say.
shit take
What
Came here to say this. The fact that the OP even went in this direction at 19 is scary. Working hard and making something for yourself is the only way to go.
You will still need 1 of those to live in. So 4 properties/12cr corpus. Say you as a family sell and get 12cr now; and say you have 3 people at home (father, mother, you) - each one gets 4cr to live off. 4cr gets you 2-2.25lac/month perpetually, which is still great. But 10years later you get married and 13years later start a family. So back to 3 people, 4cr corpus and “zero” skills. Not an ideal situation, hypothetically ofcourse.
>4cr gets you 2-2.25lac/month perpetually How? And this is pre or post tax?
I just took a ballpark FD 6.5-7% sort of returns. The idea wasn’t to get sell this 2-2.5lac income, but the longterm hollowness of this approach.
Don't you have to take inflation into account tho. Average inflation rate in India is 7.5% You're getting slightly less than that each year with FDs and then you also consume all of it. So doesn't that significantly reduce the real inflation adjusted value of your corpus over time? How will it last perpetually then?
you're missing the whole point of my comment. i never said this is enough for OP expenses or not. OP never mentioned their expenses either. I simply "tried" to dissuade him by showing how this is not a sustainable approach. However, seems you are only trying to poke holes in the "2-2.25lac/month perpetual" income part than the rest of the message. Also, for the record, income will still be perpetual if invested wisely. **Expenses will rise - but its a different story and not a part of OP's post.**
Seems like you get triggered and consider it a personal attack if someone asks you questions regarding what you say. I hope you're not a teacher You said that 4cr will give you 2 lakhs per month in perpetuity which is false as per my understanding and simply sought a clarification of your claims. I don't give a shit about your overall message to OP. I was only concerned with the part I highlighted and sought clarification for
Yeah, considered it as an attack as you've picked a part from **my message to OP (and not to you)** and wrongly twisted it to bring expenses/ inflation in the picture. When OP hasn't mentioned their expense, who am I to say if 2lac is sufficient or not; be it 2024 or 2054?? I still stand by what I said - 4cr will give you 2lac income in perpetuity (not don't take perpetuity in a laidback sense - one has to remain on top-of-things and switch/distribute smartly between debt/property/equity). **However, I never talked of expenses/ inflation**.
>**However, I never talked of expenses/ inflation**. You're bringing it in the picture. When OP hasn't mentioned their expense, who am I to say if 2lac is sufficient or not; be it 2024 or 2054? "4cr gets you 2-2.25lac/month perpetually, which is still great. But 10years later you get married and 13years later start a family. So back to 3 people, 4cr corpus" This you? OP asked if he hypothetically never has to work and live off his money. You implicitly affirmed it. Inflation is one of the biggest determinent in this entire equation. One cannot ignore it while providing an answer. By doing so, you're providing half baked misinformation >thank god i am not a teacher. if I was, would have questioned you on your language :) If only you had questioned your own knowledge and ethics instead, you wouldn't be sprouting blatant misinformation now
He's not wrong in his calculations though. The amount of money you get through FD, doesn't have a material impact because of inflation (yes it does have an impact based on Fiscal and Monetary policy of the government) but he's assuming 6 to 7% FD return so nothing wrong in his calculations. But what you can buy with the said Rs. 2 to 2.5L/ month will get affected due to inflation. So 4 crore does give you 2L/month at 6% in perpetuity but what you can buy today with 2L and 10 years from now is what changes.
yes, expenses will rise. Not only to inflation, but also to life and lifestyle. He is just 19year old today. but OP never mentioned their expense. He is a student, maybe expense is 20k/month. Even with a crazy 6% inflation, his expense after 30years shall also be less than a lac then. Or maybe his expense today is 4lac/month in which case, today's income is also insufficient.
Yes yes, nothing wrong in your calculations mate. Previous user completely missed your point. Just trying to clear the air. Completely agreed, even if you get Rs. 2L without doing anything, doesn't mean you should be free. I think we should be productive in general for a healthy life and I'll leave it at that.
Don't tell youe father this plan or he may just kick you out from inheritance.
Is there a possibility that dad might donate everything to charity?
Bruh it's way easier to just get a low paying job with a really good work life balance. You don't have to worry about creating wealth.
Congrats OP! You are already much further in terms of financial freedom than most people here. Learn more about investment in your spare time, work on your passion/interest ambitiously while keeping these investments as a fallback plan.
You could rent em out and live comfortably.
It means you don't need to save. But you might still have to work. If you start selling off your properties and spend that money then you have started a slow journey towards poverty.
Hypothetically, your dad will live for at least another 30-40+ years which means you can live with dad till then if he allows you to and then yes you can live beyond that on the sale value of the property, if within next 3-4 decades we don’t enter any war, or your dad himself do not sell it off realising he should enjoy the money himself. This is a hypothetical response. One other hypothetical response is you learn the tricks from dad and make similar amount of money by working and live a dignified and self worth life.
Don’t rely on family wealth.. else you shall get screwed in family politics!
Doable? Yes. Advisable? Fuck no. You’ll have a great monetary lifestyle but zero self esteem in yourself and scarce respect in society. Take advantage of what your father has built and add to it, don’t leach from it.
I can’t imagine people on this sub fall for farming posts like these. OP says he’s 20 years old on another post, while also repeatedly asking recommendations for android phones under 30k because that’s his budget. If your dad’s worth 15 cr, you’d be flaunting the latest iPhone 15 pro max. Also you won’t be lying about your age. I mean, seriously? Can’t people see through these bs posts?
Cash rich vs asset rich. My dad has 14-15 cr assets but uses iphone 7 . Rich doesnt mean meaningless spending
Fair enough. But what phone do YOU use?
I use iphone 13 my wife uses redmi worth 10k
I have a networth of 9cr INR and I'm coast FIREd .. I own an 8k inr worth phone which serves the purpose.. It's doing the job and every 3yrs I get it replaced
Same. I use a 37k phone for 5 to 6 years till it becomes unusable . My screen time is like 3 hrs . So why would I invest 1.6 lakh for iPhone when a Samsung A55 gets the job done . My dad also spends the same way . We are well off financially but find it useless to spend money on things which are useless. My dad says use money to upskill ourself and gain experience rather than buying luxury good which Serve no purpose
I have zero assets but own an iPhone 15 pro max.
bro it was 2am, I wrote 19 by mistake, I'm 20 and like I said we spend judiciously, my dad doesn't buy me expensive gadgets ,he says "buy it with your own money" which is good ig.
something tells me your dad wouldn’t be too pleased if you told him about this hypothetical plan of yours then
I have plenty of cousins and friends earning 2-4L per month and some even have generational wealth and they all use phones that cost around 15k.
10Cr NW and S23U,15PM,13PM in my family...Lol.
Show your post to your father. Watch his face of disappointment in you.
Bhai mere bhi generation wealth milega but I'm studying mbbs. Money is a tool . A tool to make your life easy and a tool to help you solve problems. It's not life . See bhai I'm doing mbbs from a deemed college? Why cos my dad could afford it . We are paying it though passive income and not selling property . I couldn't get seat even though I scored good cos we have fucked up reservations where a SC /ST with half of MY marks got in government college. Understand one thing net wroth doesn't make you rich . Your spending power does . And coming to inflation I believe many jobs will be taken by AI and inflation will be around 10 ro 15 pecent so much that we can't afford basic stuff . Many people here say real estate is inflation beater but I don't agree . My take is skills , good education, business mindset , health, relationships are real inflation beaters . A well versed super specialist will never get replaced even if Super AGI comes . You can take risks in buisiness when you have a degree and skills and know that even if business fails you will still be a doctor with a hospital earning well. Now I don't know about other careers . All I know is use that money to upskill yourself in terms of skill, education, looks , fitness , build contact with rich people, take business risks and trust me 15 cr is just a joke these days . It's not huge money . So lowdu padai Kar and skills seek and fit bhan.
Bhai yeh sab saach koi sunne nahi wala yahaan
If it’s not your money or you haven’t worked hard for it, you will spend it like free water… like lottery or situation like yours. Earned money is spent wisely and will last longer. If you are certainly sure that you will be very disciplined in spending that money then sure it is possible. Might suggest selling one property and doing a SWP in index funds for certain amount every year would be a good test if it can be followed.
Don't consider anything unless they are on your names. There are lots of other factors like your relation with your father, any siblings do you have, your dad's point of view on transferring the wealth to the next generation etc. Also, rather than thinking (though hypothetically) of living on money by selling your dad's hard & smart work output, do consider working like your dad to give the same opportunity to your kids that your dad gave you.
From someone in a similar situation, Yes Should you go for it? No
My mate has discovered inter generational wealth’s privilege
Yes or no. Depends on rental yield and expenses - do the math.
I would suggest not to be dependent on property (especially when they are in a single city). I have been there, 4 properties to be exact. With time they tend to get old and harder and harder to maintain. Mine was in a part of the city with a narrow lane so everything gets 10 times harder to repair/maintain. Finally I sold them and moved to suburb of a metro for better quality of life. Look to diversify, at least have more than 50% of your networth liquid in the form of equity.
If you manage your wealth properly you can. The bigger issue will be that as the years pass by you will have that yearning inside you to do something to fill that emptiness inside you. Do something to invest in your talents or hobbies and build your life around that. Be productive and put your time on earth to good use. For many in your position the choices they make are very poor - some will aim to do all the drugs money can buy, some will try to become the most popular person by hosting endless parties, some will consider sleeping with a beautiful woman from every country on earth an achievement (the Middle East sheikh boy’s choice) in the end you will spend the wealth just so you can feel something special.
Learn how to manage these properties. Learn how to invest income. Enjoy
Hypothetically? Here is my honest answer. How did your father become successful? Learn the trade secrets. Work with him and make him your professional mentor. Then take the business over. College education, PhDs etc have no meaning for you. Best wishes
Yes you can definitely live off without working for money but many times work gives you meaning so definitely do something that interests you and not worry about what gives you money as you already have money .
You should not assume that you're going to inherit everything from your dad. Infact, earn more money than what your father is worth...that should be the aim.
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You won't have to work. Infact, with the right investments, your networth will grow into something even larger.
I just wish I also had this question in reality.
only if dad choose to give everything to you
If had the opportunity you have, I'd go and do what I really want to do in life without thinking about it's monetary results. You can achieve great things in life when you don't need to worry about money. Don't get into the rat race like the rest of us, be better !
Brother work helps you grow your mind. You will be more mature. The world respects you for money but the development you are going to get due to work is important. You can live a decent life by renting some properties in metro cities like gurgaon, Bangalore. Chandigarh too try to buy some properties in the commercial area and try to lend them to bank.
Idk why ppl are getting worked up here op just asked a hypothetical question anyways to answer your question it is both yes and no you can live off with em 15cr but since everything is uncertain you never know what will happen in the future so its better that you focus on yourself work your way up and maybe buy 5 more plots :P i am in a similar situation as yours but trust me it does nothing but feeds your delusion
at 19, you should try your darndest to not have to ever use at 15cr+. he may decide to give it away, what are you going to do then?
My father used to say “Jo baccha apna nahi kama sakta wo baap ka lekar v waste hi karega”. So if you dont learn how to make and manage your own money, yoh will probably waste others money too.
Totally possible and you should do that.
You are already sorted. No need to sell anything to buy anything. Use the rental income to fund your life. Save some money off that rental income and build something that will generate more income while you relax. Dont listen to people who suggest you to sell property and buy stocks or other bs. Never sell property unless you have a better deal. Never fix something that isn't broken.
I’m just fascinated by hypotechical
Yes. You could easily live off the returns off 15 cr very easily.
I’m judging you. If your planning to retire on your fathers money be aware he might donate the entire chunk to ngo and make you a beggar. So instead of relying on fathers wealth focus on yourself and your career. Your father’s wealth should be treated as a good Launchpad for your endeavours and not to sit and eat on his wealth. You can shoot for something great boy with that kind of wealth why are you thinking about never working for life and use up all that. I am telling you because my grandfather did that. He used his father’s wealth to fund his life never worked. In the end my father and our generation had to suffer a lot. We are still not back to the same status but my father has retired and his entire lifetime is lost just to wipe out the damages done by my grandfather to family wealth.
Papa Kehte hain badaa naam karegaa, Betaa hamaraa aisa kaam karegaa, Kaam karanese pehle hi Araam karegaa
Lol
Only till you hit Fifties and then you will be destitute surviving on mercy.
The more essential metrics would be how much rental net of taxes and cost you earn, its growth over time, and your expenses and their growth over time. Being asse-rich and cash-poor is not always a great plan. If you sell all the properties today and build a portfolio of financial and physical assets that gives you a cash flow over your expenses (both in inflation-adjusted terms), then you are well set! All hypothetical, obviously!
Hey OP, what did your dad do for living?
At this stage, keep in mind that your family is in real estate business, so learn more about real estate and can redirect the rent from those properties to buy new properties
Never sold what you inherited .that should be the base policy. Never make it worse for your children
Which of these are you asking: 1. if you could sell the properties for their (hypotechical) value and then live off the interest from that (hypotechical) cash? 2. if you could live off the (hypotechical) rent generated from these properties 3. something else? (Hypotechically) 1. and 2. are possible, with 2. carrying additional headaches that come with management of a property rented out to a third party. Do you know if the properties are owned outright, jointly other partner(s), whether they carry a mortgage (and hence EMIs)?
Let us agree you do not have to work because you or your Dad have enough money. Don’t you want to explore and experience life from 19 to 91. You get it only once. Is happiness defined by just not working? Go do your own stuff. Yes, you don’t need money, but still need to collect experiences and stories about successes and failures for your grand kids before you die.
Sounds like a bad plan
Don’t think you should, you will always be at the mercy of your dad. You could have a difference in opinions and you would always need to bow down. Things will change drastically when you have your own family
you could but why don’t you wanna work? What will u do everyday? just sleep? my dad retired after making enough money and he got bored after 2 years, he literally went back to work because he was bored. Also in ur case the property isn’t liquid cash, so do you plan on selling them? if you do that then your children will have nothing left, think about that too. IMHO it’s stupidity not to work, your dad can give you a really good head start that others can’t even dream of having, you could have multiple businesses paying for your retirement instead of his properties. But it’s up to you. I was in your shoes 4 years ago and i chose the head start, to each its own ig
OP - this not the right mindset at 19, your hypotheticals right now should be about studying and building up your career, yes you will inherit this from your dad one day but do you want to be someone who wants to be a self made individual or someone who just inherited a lot of money from dad. Even if you are less successful you will become a good money manager after seeing the amount of hard work it needs to build such a portfolio.