Matteo Spaggiari @Matteospaggiari: "𝗪𝗵𝘆 𝗜 𝗦𝗼𝗹𝗱 𝗠𝘆 𝗛𝗼𝘂𝘀𝗲..."

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𝗪𝗵𝘆 𝗜 𝗦𝗼𝗹𝗱 𝗠𝘆 𝗛𝗼𝘂𝘀𝗲 𝘁𝗼 𝗜𝗻𝘃𝗲𝘀𝘁 𝗶𝗻 𝗦𝘁𝗼𝗰𝗸𝘀: 𝗥𝗲𝗮𝗹 𝗘𝘀𝘁𝗮𝘁𝗲 𝘃𝘀. 𝗦𝘁𝗼𝗰𝗸𝘀 𝑨 𝒔𝒂𝒅 𝒔𝒕𝒐𝒓𝒚 𝒘𝒊𝒕𝒉 𝒂𝒏 𝒉𝒂𝒑𝒑𝒚 𝒆𝒏𝒅𝒊𝒏𝒈. 𝑷𝒍𝒖𝒔 𝒂 𝒔𝒉𝒐𝒄𝒌𝒊𝒏𝒈 𝒇𝒂𝒄𝒕 𝒂𝒃𝒐𝒖𝒕 𝒓𝒆𝒂𝒍 𝒆𝒔𝒕𝒂𝒕𝒆. Many years ago, I bought that apartment as an investment. The idea was simple: rent it out, earn passive income, and let time do the rest. I was proud of that. That’s diversification, right? And “bricks” are supposed to be the safest and most reliable investment. 𝗔𝘁 𝗳𝗶𝗿𝘀𝘁, 𝗜 𝗿𝗲𝗻𝘁𝗲𝗱 𝗶𝘁 𝗹𝗼𝗻𝗴-𝘁𝗲𝗿𝗺. A small flat worth €100,000, rented for €500 per month — that’s €6,000 per year, or a 6% gross yield. If you assume real estate appreciates with inflation, a 6% after-inflation return sounded quite decent. 𝙏𝙝𝙚𝙣 𝙘𝙖𝙢𝙚 𝙩𝙝𝙚 𝙧𝙚𝙖𝙡 𝙣𝙪𝙢𝙗𝙚𝙧𝙨👇 IMU (property tax): €1,000 Condominium fees: €800 Maintenance & repairs: €500 Insurance: €300 Utilities (water, gas, electricity, waste): €1,200 Flat tax (26%) on rental income (second home): €1,560 𝗔𝗳𝘁𝗲𝗿 𝗲𝘃𝗲𝗿𝘆𝘁𝗵𝗶𝗻𝗴, 𝗜 𝘄𝗮𝘀 𝗹𝗲𝗳𝘁 𝘄𝗶𝘁𝗵 𝗮𝗿𝗼𝘂𝗻𝗱 €𝟲𝟰𝟬 𝗽𝗲𝗿 𝘆𝗲𝗮𝗿 — 𝗮 𝟬.𝟲% 𝗿𝗲𝘁𝘂𝗿𝗻 𝗼𝗻 𝗮 €𝟭𝟬𝟬,𝟬𝟬𝟬 𝗽𝗿𝗼𝗽𝗲𝗿𝘁𝘆. 𝙏𝙝𝙚 𝘼𝙞𝙧𝙗𝙣𝙗 𝘿𝙧𝙚𝙖𝙢💭 Then I thought: What if I rent it on Airbnb? Everyone said: “You’ll double your income!” And on paper, they were right. Ten nights per month at €100 per night meant €1,000 per month, or €12,000 per year. Double the income, just like that. So I invested a bit more: €1,600 for new furniture and kitchen upgrades €400 for safety equipment (CO₂ sensors, fire extinguisher) Total setup: €2,000 — “I’ll make that back in two months,” I thought. 𝙏𝙝𝙚𝙣 𝙘𝙖𝙢𝙚 𝙧𝙚𝙖𝙡𝙞𝙩𝙮👇 📆 Monthly breakdown Airbnb commission (3%) → €30/month Management company (25%) → €250/month Cleaning (10 stays × €30) → €300/month Utilities (water, gas, electricity, waste) → €100/month Condominium fees → €66/month Maintenance & repairs → €42/month Insurance → €25/month Total monthly costs: €813/month 📅 𝘼𝙞𝙧𝙗𝙣𝙗 𝙔𝙚𝙖𝙧𝙡𝙮 𝙨𝙪𝙢𝙢𝙖𝙧𝙮 Gross income: €12,000 Operating costs: €9,756 (€813 × 12) Flat tax (26%) on €12,000 → €3,120 𝗡𝗲𝘁 𝗿𝗲𝘀𝘂𝗹𝘁: €𝟭𝟮,𝟬𝟬𝟬 – €𝟵,𝟳𝟱𝟲 – €𝟯,𝟭𝟮𝟬 = –€𝟴𝟳𝟲 𝗽𝗲𝗿 𝘆𝗲𝗮𝗿 So not only did I not earn passive income — I was losing money for the privilege of replacing towels, answering late-night messages, and reporting guest IDs to the local police every month. 𝗧𝗵𝗲 𝗥𝗲𝗮𝗹𝗶𝘇𝗮𝘁𝗶𝗼𝗻 That’s when I understood: If your “investment” depends on your time and effort, and the numbers don’t scale, it’s not an investment — it’s a trap. 𝗦𝗼 𝗜 𝘀𝗼𝗹𝗱 𝘁𝗵𝗲 𝗮𝗽𝗮𝗿𝘁𝗺𝗲𝗻𝘁. 𝗔𝗻𝗱 𝗜’𝗺 𝗲𝗰𝘀𝘁𝗮𝘁𝗶𝗰 𝗮𝗯𝗼𝘂𝘁 𝗶𝘁. Now I invest in stocks — assets that compound automatically, don’t call you when something breaks, and actually grow. A diversified portfolio growing at 10–15% per year turns €100,000 into €260,000–€400,000 in ten years. My personal target is +50% per year, which means about €50,000 from stocks vs. €640 from real estate. Even if I “only” hit 15%, that’s still 23× the yield. 𝗙𝗿𝗲𝗲𝗱𝗼𝗺 > 𝗕𝗿𝗶𝗰𝗸𝘀 🏠💸 Stocks give you freedom. If you’re a free spirit like me, just the thought of being able to move anywhere — without the constant problems of a physical property — is priceless. 𝗔𝗻𝗱 𝘁𝗵𝗲𝗿𝗲’𝘀 𝗺𝗼𝗿𝗲 𝗰𝗼𝗺𝗶𝗻𝗴 𝗳𝗼𝗿 𝗿𝗲𝗮𝗹 𝗲𝘀𝘁𝗮𝘁𝗲 𝗼𝘄𝗻𝗲𝗿𝘀 ( the shocking fact): Europe just passed the Energy Performance of Buildings Directive (EPBD). According to the revised Directive (EU) 2024/1275, all new buildings must be zero-emission from January 1, 2030, and existing ones must reach at least energy class E by 2030 and class D by 2033. 𝗦𝗼𝘂𝗻𝗱𝘀 𝗳𝗮𝗺𝗶𝗹𝗶𝗮𝗿? It’s like car emissions — every few years, the bar rises. That means new insulation, new windows, new systems — all costly upgrades. And when everyone needs to renovate at the same time, what do you think will happen to the prices of materials and labor? Today it’s class E by 2030, D by 2033… probably C by 2036 and B by 2040 — a never-ending race that drains your savings every few years. 𝗜 𝘀𝗼𝗹𝗱 𝗺𝘆 𝗮𝗽𝗮𝗿𝘁𝗺𝗲𝗻𝘁. 𝗜'𝗺 𝗴𝗼𝗶𝗻𝗴 𝘁𝗼 𝗶𝗻𝘃𝗲𝘀𝘁 𝘁𝗵𝗲 𝗺𝗼𝗻𝗲𝘆 𝗶𝗻 𝘀𝘁𝗼𝗰𝗸𝘀. 𝗔𝗻𝗱 𝗜’𝘃𝗲 𝗻𝗲𝘃𝗲𝗿 𝗯𝗲𝗲𝗻 𝗵𝗮𝗽𝗽𝗶𝗲𝗿 𝘄𝗶𝘁𝗵 𝘁𝗵𝗮𝘁 𝗱𝗲𝗰𝗶𝘀𝗶𝗼𝗻. What's your experience with real estate? Have you been luckier than me? If you want to see more posts like this one, just comment "more". $SPX500 $BTC $NVDA (NVIDIA Corporation)

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