Date: January 27th, 2012 12:21 AM Author: Soul-stirring preventive strike
i get the distinct impression that his career blew up and that, during his weaker moments, he views this site as a possible get rich quick scheme that -- if properly monetized -- could put him in the big time
Date: January 27th, 2012 12:25 AM Author: rachmiel
My "career" definitely did not blow up. I sold my business for $530,000 2 years ago. I've been trying to figure out what direction I want to go in and I've been making different investments in the meantime, which have taught me a lot. The Kramer comparison is kind of apt, though, if only because I'm not a careerist and I like an element of randomness in my life.
Date: January 27th, 2012 12:39 AM Author: rachmiel Subject: Tons of stuff
Here are a few very basic things off the top of my head:
Buy only at firesales. For example, I bought an IT business for $30,000, which has gross revenues of $250,000 a year. The business is probably worth $200,000 in a market where there's easy access to credit. I set up someone I could trust running that business and now I collect a nice dividend every year from it. However, he still requires my creative input, because good managers are not entrepreneurs.
If you invest in real estate, be prepared to pay a professional to manage your property. Doing it yourself turns a real estate investment into a job, and having a handyman manage the entire thing ends up costing you in the long run. But use that guy for repairs; just don't let him have access to rent money.
Speaking of which, don't ever let anyone have access to your money. Ever.
Don't think you're helping someone who is hopelessly blue collar by giving him a white collar role. He will disappoint you.
Making movies has taught me all about the LA culture, the film industry, it's been fun and it's taking me around the world. I've also seen a lot of dumbasses invest hundreds of thousands into indie movies that have no chance of ever getting picked up.
Don't bog yourself down with too many things, even if they could make you some money. I've known this intellectually for years, but only now I think I've gained the discipline to actually practice that. I'm also trying to concentrate on things that mean something to me, and not be so concerned about "getting rich", although I definitely want to make money.
Date: January 27th, 2012 12:45 AM Author: rachmiel
You actually have to really hunt for them on the street. Crummy-looking, stagnating businesses sometimes have potential but have old, tired owners. These things aren't in a directory. Business brokers list businesses for really inflated prices.
Date: January 27th, 2012 12:51 AM Author: rachmiel
This business was up north, about 20 miles from Allentown. Sort of where coal country begins. They had a queer, rainbow sign that looked like it was made in 1995, but they had had a TV show on public access for years so I knew about them and so did a lot of people in the area. I know my area and I do research. Sometimes I'll walk into a business and talk to the owner. I've had that business for two years and it is stable now, slowly growing. I have other funny things going on too. Lemme dig up a link.
Date: January 27th, 2012 1:06 AM Author: sexy striped hyena library
"People like the markets that have Amish vendors. They feel like it's authentic, quality standards and the food is organic and not processed," he said.
Date: January 27th, 2012 1:23 AM Author: sexy striped hyena library
I get it.
In my head it sounded more like "What we do is get some of those Amish clowns down here to peddle their crap to local rubes who buy into all of that 'hand-made' and 'natural' nonsense."
Hey, the Amish know the game better than anyone. I've met a lot of them and some of them wear their "English clothing" in their homes, i.e. t-shirts, jeans, pretty standard American stuff. Some even let their kids have iPhones.
"Yup, I done seen him come in this past Thursdee. I was sittin' at my desk, and he comes struttin' in, talking on his cellular phone, like he owns the place, with his Columbia parka and whatnot."
The people in the town are all so excited about it. I've been getting calls from random people asking how they can help out. There really isn't much else in that area, and this is going to be the weekend attraction.
Date: January 27th, 2012 1:27 AM Author: french masturbator son of senegal
I've been to a few of these in other Amish-y areas. They're quaint and pretty neat. You should try to get an antique or woodcrafting shop connected to it
Date: January 27th, 2012 12:48 AM Author: arousing indian lodge lettuce
Thanks bro.
What is this film industry noise, I don't think I knew you were into that.
Understanding that the answer is largely qualified by "it depends on the location," thoughts on my plan to buy several cheap (30-50K) houses in large town with a stable employment base and rent them out for what I think will be 600-800/month?
Date: January 27th, 2012 12:53 AM Author: rachmiel
If you want to buy cheap homes, I can find you them for $5k and under. I recently bought 7 for $15k total, and I get about $530 a month on each. $600 a year taxes. Coal country... and everyone's on welfare or disability.
Date: January 27th, 2012 12:56 AM Author: rachmiel
It is not flame. If you guys want to go in together and literally buy up whole blocks, we can do that. I would have you come out and see the places I've found.
Well, I set tenants up differently. I'm generally not responsible for repairs in my lease agreements. I actually "rent to own" with these people. Section 8 is cool but your money gets withheld until you make whatever repairs the gov tells you to make.
Date: January 27th, 2012 12:41 AM Author: rachmiel
$530K was a great amount of money when you consider the capital gains treatment on it.
How much do you think I was making? And how much do you think books of business go for in the health insurance business? You only get a small multiplier of the annual revenues. I sold because I really hated what I felt was the meaningless, paper-pushing nature of the business, and I feel like I want to do things that have more of my personal touch.
Date: January 27th, 2012 1:00 AM Author: Dead puppy
My friend, who is really funny, wrote an indie flick that did semi-okay; it went to a film festival, but was kind of a "spectacle" hit instead of being a respectable comedy.
My friend would probably write a very funny script and produce a legitimately fresh "flavor" of comedy, but the $$ behind the movie wasn't funny at all, twisted most of it around, then a hollywood writer came in and that shit went to hell.
What do you think about SV's attempt to circumvent the Hollywood beast?
The challenge with almost any genre besides horror is that people want big name actors, which costs too much money for an indie. With horror, they just want blood and shock and to be creeped out. That's why I've started in horror.
I think that there's always going to be a middleman, whether it's the distributor or iTunes or Amazon VOD. Most money is made at the box office for big-budget movies and I don't see theaters going away anytime soon, since ultimately Hollywood can release things in theaters way in advance before they release Video On Demand or DVD (which is going away anyway). Of course there's a push to get things onto VOD much sooner, but Hollywood has all the control and I don't see why they would give that up. Netflix pays jack shit and that's why their VOD selection blows, too.
Not to mention, indie filmmakers are generally not savvy marketers; who cares if your film is available online if nobody knows about it?
Date: January 27th, 2012 12:42 AM Author: rachmiel
I've been approached many times by people trying to buy the website. I'm not selling this place - believe me, if it were about money, I would have just shut it down a long time ago.
Date: January 27th, 2012 12:48 AM Author: rachmiel
I guess it's sentimental. How many other people can say they've kept something like this going for eight years, with all its history, people, feuds, lulz?
Date: January 27th, 2012 12:45 AM Author: henna sound barrier
it'll pay off eventually. i mean, it may take a while... a long while. but i think the income profile of posters here has actually improved over the years as they've gotten out of school and into jobs/unemployment benefits.
Date: January 27th, 2012 12:47 AM Author: yellow house chad
i've said this before but if there was some way to remove the stigma of this place the demographic posters here represent is amazing. fuck linkedin, xoxo posters would be all i need.
Date: January 27th, 2012 2:51 AM Author: Buck-toothed twinkling prole
More power to you bro. I spent about 10 minutes as a lawyer after graduation myself. Plenty of ways to make money with way less stress. I have 5 employees now. The associate route is a shoehorning yourself into a middle class irrelevance.
Date: January 27th, 2012 12:48 AM Author: concupiscible milky pocket flask milk
this site could only make money with LSAT prep./Barbri prep./princeton review type ads. Even then, most people would scoff at them. Even if they didn't, this site doesn't have enough traffic to be profitable...it has a bad public reputation that turns several people away from it as a source of genuine law school related info.
I saw the writing on the wall a few months earlier. Oppressive moderation, etc. Boondocks was a poster on PR too. When they changed their board format, that's when everyone darted.
You can't use that word to refer to a FRIEND. Besides, we coded it together. I invited him to to help out with it. Too bad he didn't invite me to help out with Dropbox. Lol
Date: January 27th, 2012 1:21 AM Author: odious well-lubricated water buffalo
rach was a huge megapoaster and teamed up with boondocks to create it after the original pr was attacked by spammers who figured out how to change thread names.
Date: January 27th, 2012 1:37 AM Author: odious well-lubricated water buffalo
i know that he posted a link to some app that let you enter the url and change the thread name. i don't think he was the one to actually develop it/write the code originally, but linking to the method to change threads made it a lot easier.
No college. It's not that I didn't want to go to college originally. It's that I was too lazy to apply to better colleges, ended up at Penn State, and when I was there I had a hard time finding a crowd so I left. I had really good stats in school, but I just fucked up by not applying anywhere except Cornell, for some reason, and I was WL there. Then a couple years later I applied to Wharton and failed at that, and my business was already taking off, so that was the end of school.
Date: January 27th, 2012 1:41 AM Author: french masturbator son of senegal
we were a coddled narcissistic generation. Most elite college applicants couldn't handle being told they had no chance at anything better than Cornell, and so they stuck with the board that was a circlejerk of "you'll get in everywhere you apply!"
Date: January 27th, 2012 2:10 AM Author: alcoholic stage
it's like looking behind the curtain.
rach, I just wanted to say ty dood for everything over the years. we're an unruly bunch of miscreants, but the bort has provided a shitload of entertainment over the years. so thanks for paying the light bill.
Date: January 27th, 2012 4:17 AM Author: Chocolate rambunctious weed whacker property
hey, Rach, seriously though, I would be willing to do some close to pro bono coding for xoxo, and i'm pretty good with both php and sql (not to mention js, xml and shit).
i have a full time job now though, so i can prob only work on it on the weekends.
Date: January 27th, 2012 7:33 AM Author: ruddy floppy mexican
shit, reading rach's exploits -- insurance salesman, IT biz owner, slumlord, indie horror film producer, soft drink marketer -- makes me realize what an utter shit pure shit life i am leading. some people out there are 180 alpha entrepeneturs, the true john galts of the world who stir shit up and make things happen. and then there's me, a douchefag who did the college/ls/biglaw thing and is now slaving away like a robot.
Date: January 27th, 2012 7:37 AM Author: Comical Costumed Sneaky Criminal Organic Girlfriend
yeah, when I read these threads I sometimes feel like I should get off my ass and invest in shit, but then I remember that I have no expertise in any of this stuff and I would probably fuck up
fuck it, I'm just going to continue to sock my money away in index funds and spend my spare time posting