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Old 09-14-2014, 07:42 AM   #7901
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re: Winrates, bankrolls, and finances

100-300 capped buyin 5/10 NL seems like a stupid structure, but it could obviously be very profitable if the right lineup was sitting...especially if they already had relatively deep stacks.
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Old 09-14-2014, 08:54 AM   #7902
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re: Winrates, bankrolls, and finances

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Originally Posted by bm303 View Post
What's everyones opinion on a $100-$300 capped 5-10NL game? How would you go about this?

I have a lot of experience short stacking, but never with anything less than 25BB buyin. I assume some people will be $1k+ at this sort of table. Would this game play like you would play late in a tourny?
You should never have less than 30BB on the table, ducy?
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Old 09-14-2014, 11:29 AM   #7903
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re: Winrates, bankrolls, and finances

How do you guys feel about investing a portion of your bankroll?

Should it be capped at a certain %?

Thoughts?

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Old 09-14-2014, 11:38 AM   #7904
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re: Winrates, bankrolls, and finances

I would do that once my roll is really deep. Personally I'm planning to build a long-term nest egg by buying rental properties with my poker income. Eventually I might get into staking.
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Old 09-14-2014, 11:40 AM   #7905
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re: Winrates, bankrolls, and finances

Well let me ask you this then, what would you consider deep?

Assuming one was playing fulltime with limited ability to reload.

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Old 09-14-2014, 11:44 AM   #7906
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re: Winrates, bankrolls, and finances

Investing is a long term strategy, bankroll needs to be liquid.

Best "bankroll investment strategy" is to max your Roth IRA every year, beyond your existing retirement, because you can withdraw that initial amount without penalty. But you only want to do that with like the amount of money that's well in excess.
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Old 09-14-2014, 11:45 AM   #7907
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re: Winrates, bankrolls, and finances

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Originally Posted by de4df1sh View Post
Well let me ask you this then, what would you consider deep?

Assuming one was playing fulltime with limited ability to reload.

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Well, you have to consider that whatever money you invest, and whatever vehicle you invest in, for it to be viable your money is going to have to be tied up a long time. So, I would say that you need to have a full bankroll and something like a year's liferoll in liquid cash, so you won't find yourself selling assets at the wrong time to pay the bills. You can invest what you save up on top of that.
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Old 09-14-2014, 11:47 AM   #7908
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re: Winrates, bankrolls, and finances

I would say that unless you have 100+ buy ins for the biggest regular game in your area... investment is a poor choice.
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Old 09-14-2014, 11:49 AM   #7909
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re: Winrates, bankrolls, and finances

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I would say that unless you have 100+ buy ins for the biggest regular game in your area... investment is a poor choice.
Yeah like as a poker player it's real nice to be cash rich
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Old 09-14-2014, 11:50 AM   #7910
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re: Winrates, bankrolls, and finances

Geez guys, I was beginning to feel that all of this cash in my safe could be put to better use in other vehicles.

Now I feel under rolled lol

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Old 09-14-2014, 11:55 AM   #7911
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re: Winrates, bankrolls, and finances

Yeah I mean, tbh I think a full-time grinder with no other income source needs to be rolled really deep in general, because risk of ruin = risk of going homeless.

First investment you should make, I think, is buy a house and pay it off as soon as possible. Having your own home (paid-for) is a HUUUUUUGE freeroll because then no matter what happens to your finances you will never lose it (and also because it cuts your living expenses 30-50%).
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Old 09-14-2014, 11:56 AM   #7912
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re: Winrates, bankrolls, and finances

You could siphon off bits of profit to build an investment roll - that would be better than taking a massive chunk of BR at once IMO. It also depends what your goals are with poker. If you want to climb to high stakes, the investment is yourself. If you want to hit 2/5 for life (which is just fine) - then you can peel a lot of profit out of your poker roll.

Sometimes there is a big game, built around a whale, that is going to require 5~10x the buy in you are used to... there is a lot of value in being able to sit in that game.
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Old 09-14-2014, 11:57 AM   #7913
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re: Winrates, bankrolls, and finances

House is the worst investment IMO... flexibility rules, and a house is anything but that.
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Old 09-14-2014, 12:07 PM   #7914
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re: Winrates, bankrolls, and finances

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Originally Posted by de4df1sh View Post
Geez guys, I was beginning to feel that all of this cash in my safe could be put to better use in other vehicles.

Now I feel under rolled lol

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Open up a investment checking account at Charles Schwab, no atm fees and it's uncapped withdrawals.

Also look at a high interest savings account at a brick and mortar credit union. You'll likely not be able to withdraw from an ATM but you might get decent interest rates
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Old 09-14-2014, 12:17 PM   #7915
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re: Winrates, bankrolls, and finances

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House is the worst investment IMO... flexibility rules, and a house is anything but that.
Well what I mean by that is, I mean, get a cheap house and pay it off outright. Not get a big house and tie yourself down to a mortgage. I'm just thinking that as a full time pro your risk of ruin is never zero, and the prospect of going busto sucks donkey balls. By owning a house or a condo, and not having to pay for it, you're basically insured vs homelessness. You can do whatever you want with your life and you have a fallback.
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Old 09-14-2014, 12:35 PM   #7916
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re: Winrates, bankrolls, and finances

Fwiw I live at home with my parents ATM until I have enough side cash for a fat down payment on a home.

The purpose of investing was to accelerate that process.

Girl also has decent job.

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Old 09-14-2014, 12:39 PM   #7917
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re: Winrates, bankrolls, and finances

Even "owning" a house/condo doesn't guarantee anything because you'll always have property taxes and condo fees to pay each year, along with insurance etc.

Point is, def need big amounts of liquidity at all times if you're a pro
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Old 09-14-2014, 04:03 PM   #7918
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re: Winrates, bankrolls, and finances

Best thing for a poker pro is to live expense free. This can be accomplished quite easily by purchasing a home (with or without a mortgage) and renting out the other bedrooms to roommates.
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Old 09-14-2014, 04:13 PM   #7919
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re: Winrates, bankrolls, and finances

Quote:
Originally Posted by de4df1sh View Post
Fwiw I live at home with my parents ATM until I have enough side cash for a fat down payment on a home.

The purpose of investing was to accelerate that process.

Girl also has decent job.

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Buy a duplex, live in it for one year, rent the other half.

Look at FHA deals
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Old 09-14-2014, 05:17 PM   #7920
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re: Winrates, bankrolls, and finances

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Originally Posted by GrindPokerAllDay View Post
Best thing for a poker pro is to live expense free. This can be accomplished quite easily by purchasing a home (with or without a mortgage) and renting out the other bedrooms to roommates.
If your home has a mortgage you can't really get enough money out of roomers to be expense-free.

If it doesn't, you can.
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Old 09-14-2014, 05:41 PM   #7921
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re: Winrates, bankrolls, and finances

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Originally Posted by Aleksei View Post
If your home has a mortgage you can't really get enough money out of roomers to be expense-free.

If it doesn't, you can.
This is so generalized and false that it's not even funny.
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Old 09-14-2014, 07:52 PM   #7922
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re: Winrates, bankrolls, and finances

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Originally Posted by Aleksei View Post
If your home has a mortgage you can't really get enough money out of roomers to be expense-free.
Yes you can. I've done this with multiple houses purchased prior to the crash in 2008. First and 2nd liens on each property (6% first lien, 8.5% APR 2nd). You can get much higher rents in general by renting by the room than if you rented the entire house out to a family. Plus I worked for a student housing developer that did the same thing (ie built houses, rented by room, obv didn't just pay cash). They were making sick rents.
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Old 09-14-2014, 10:13 PM   #7923
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mm, good to know.
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Old 09-15-2014, 10:19 AM   #7924
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re: Winrates, bankrolls, and finances

Lol home ownership
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Old 09-15-2014, 11:15 AM   #7925
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re: Winrates, bankrolls, and finances

Quote:
Originally Posted by 11t View Post
Also look at a high interest savings account at a brick and mortar credit union. You'll likely not be able to withdraw from an ATM but you might get decent interest rates
I don't think you'll find a "high interest savings account" because it's not 1995 anymore. Unless you count 1% as "high."
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