I always look forward to your Sunday videos. My favorite part is your full transparency. You openly put your portfolio out there for the world to see. No gimmicks and nothing to hide.
I bought up a few reits during 2023-24. Earning about 6%. (im new, if i could do again it would be better) learning as i go and your channel is AWESOME
I own some RTLY and one day should help pay for my chocolate pudding during retirement. In the meantime, I'm patiently waiting for the release of the Armchair Income single on i-tunes. Since it's always cut off at the end before I can get my groove on, I put the lyrics I did hear at the end of the video into chatGBT and had it suggest the next line: "Dividends flowing, got the numbers to show, Investments on point, just let the cash flow."
I went with PFFR. No leverage. Pays a little less but if REITs start to perform, it will get up to 25 again. These equity CEFs are a good proposition after big crashes when the discount blows out to extremes. RLTY went for a 16% discount a while ago, that was a good time to pick it up. Now, not so much IMO.
I love your videos, very informative. I'm very concerned with the RLTY because the expense ratio is so high (over 5%). I just haven't been willing to buy such a costly stock. Maybe if it dips a good bit I will change my mind to get into this stock.
Thanks for another great video. I'm overweight in NNN and O, so I need to trim those and was I looking for a place to use the cash. RLTY would give me more diversity and better yield, win win.
Another great video.Always look forward to them! As someone else posted, really appreciate your insights, research and transparency without having to join a Patreon. I am 57 and retired. I have some rental properties that provide my living expenses but have considered selling some of them and replacing them with high income equities like the ones you profile. Love this idea, but just want to dig a little deeper before going all in. This is my thinking, On a 100K portfolio, average return 10%(10K), Reinvest 3% for inflation and growth (3K), Taxes at 20% tax bracket 2%(2K). Leaving only (5K) or a 5% return to spend. Does these numbers seem like they are in the ballpark? Thanks for your feedback
I sold rental properties when I retired. It's partly a lifestyle decision. I moved to SE Asia and didn't want the hassle of managing them remotely. But if the properties are good and the landlord hassles don't bother you then you could keep them, or keep some of them. Your numbers looks reasonable. The tax percentage depends on your other assets/sources of income. Also, its worth looking at if/how the rental properties lower your tax liability. Some of the benefit of real estate is the overall tax efficiency, not just the income and appreciation. I think the most important thing is to diversify so much that 1 or 2 events of bad luck don't hurt you. Best of luck!
Always look forward to your videos. Good place to get ideas and I do appreciate that you share your analysis and portfolio without our having to subscribe to a patreon account. Thank you!
Glad you like them! I won't create a paid concept unless I can think of something new and additional that would be worthwhile (which would probably cost me money so I'd have to charge). The analysis and portfolio will always be free. Warren Buffett's portfolio can be viewed for free and he's smarter than me!
Glad you enjoyed it! NVDY lives or dies by Nvidia's stock price, which has had an outrageously good year. As long as that continues it will do well. But that's an extremely concentrated bet. It could gain or lose 30% in a month. I'm looking for income that's more stable, even if it doesn't have as much upside as NVDY.
Enjoyed the video! Also own RLTY. Have you looked at the Carlyle Credit Income Fund? Ticker CCIF and it yields 14.57%. Retiring next month and getting ready to collect that armchair income! Cheers!
Glad you like the videos, thanks for the feedback! CCIF is on my list to explore further, as are a few other CLO funds. Congrats on your looming retirement. What an exciting time!! I recommend traveling asap. There are a lot of places that are amazing but aren't famous...only way to find out is to travel and talk to lots of people while you do it.
BSTZ, cousin of BST, raised their dividends and are now at 13%. Picked up a couple hundred and hoping you might be able to tell us more. I believe BATZ has more private side than BST.
I haven't invested in BSTZ and it's been a while since I looked at it. I prefer more consistency from my income stream. Comparing distribution charts between BST and BSTZ....BST is a better fit for me. Generally, private equity is more volatile...ie higher return, higher risk. So it would make sense that BSTZ is less consistent. BSTZ may be a good fund, it's just not delivering the type of income stream I'm looking for.
@@armchairincomechannel good points... Strange how their price charts mirror each other. I only dumped a small amount of bst in lieu of bstz. Will see how it plays out. BST increases have been flat as a pancake for some time now.
I have IGR in place of RLTY...have owned it since February. Comparing the two from that entry date, which is roughly YTD, IGR has price appreciation of 26% vs RLTY's 17.7%, and also has a higher yield. So guess my questions is ..what's not to like?....is there some negative aspect I should be aware of? Was thinking to add RLTY to another portfolio on the next dip.
I haven't done a deep dive on IGR but at a quick glance it looks attractive...longer distribution history. It's currently trading at a slight premium to NAV versus RLTY's slight discount to NAV. The other factors you mentioned lean toward IGR.
To me expense ratio is not a concern when a fund performs well. My bigger concern is the leverage in a sector that is already highly leveraged. This is practically a double leveraged CEF.
Not in any depth. With few exceptions, I'm reluctant to weigh much into mREIT's. The yields are great but I'm more comfortable with BDC's, or even better, a BDC fund. DX may be worthwhile, I don't have any special knowledge about it. The REIT Forum and ADS Analytics have some great mREIT coverage though.
Very informative as always, thanks. Just curious-from past videos about your portfolio, I noticed that you own PBDC but also own separately some BDCs that are held by PBDC, like Arcc and Blue Owl. Is there a reason for this (which seems a bit double dipping), or are the latter just legacy holdings?
Thanks for your feedback :) Regarding the overlap...yes, mostly legacy. As I bought more PBDC I sold some of the individual holdings, most the ones that were priced the highest vs Book. Second to that is that there are a few BDC's that I particularly like so I effectively overweight them.
Great videos, well done. I live in Thailand and have a portfolio of American shares with ibkr they tax me 15% on dividends ,would that be the same with Neos etfs?
The 15% is a withholding amount, its not based on the tax rate. If you want to pay the actual tax rate (which will probably be less than 15%) then file a tax return to receive a refund for the difference. The significant return of capital from SPYI etc would be more tax efficient than most funds because Non-US tax residents aren't subject to capital gains tax. Verify all this with a tax accountant familiar with US tax law, but that's my personal experience.
I'm super conflicted. I really want to add a REIT focused CEF to my taxable portfolio but they tend to be very tax inefficient. I'm about 13-15 years from retirement so the tax drag may be too much to stomach. Maybe once I'm actually retired it will make more sense. Anybody else in this boat?
I was in your shoes. I love income investing but when I was working it wasn't tax efficient because of my income pushing me into a high tax bracket. Maybe just keep a small token income portfolio to learn the ropes so that when you get closer to retirement you can just add a few zeros and your learning curve won't be so steep.
Snowball Dividend Tracker (Create a Free Account, and the 10% Discount will appear under "Subscribe"):
armchairincome.link/snow
The more I listen to your videos the more my portfolio looks like yours! Thanks for leading the way!
That's cool! (as long as you independently research and arrive at your own decisions). Glad to know that the info is helpful for you.
I always look forward to your Sunday videos. My favorite part is your full transparency. You openly put your portfolio out there for the world to see. No gimmicks and nothing to hide.
Thanks for your feedback. I'm just trying to create what I would want to watch :) So we have the same taste!
Another great review. I appreciate you sharing your insights.
Glad it was helpful! I appreciate you taking the time to type a comment.
Very good video ! It looks REITs may have a brighter look in the comings years vs announced rates cuts ! Keep up the good job !
That would be nice, but I'm not betting the farm on rate cuts. I think of it as a bonus. Glad you liked the video!
Excellent analysis - love the video
Glad you enjoyed it! Thanks for watching and commenting :)
I added RLTY to my portfolio as well and kept RQI. Love the informative videos!
I like RQI too. Not easy to choose :)
I bought up a few reits during 2023-24. Earning about 6%. (im new, if i could do again it would be better) learning as i go and your channel is AWESOME
That's great! Welcome to the world of endless income :)
I own some RTLY and one day should help pay for my chocolate pudding during retirement. In the meantime, I'm patiently waiting for the release of the Armchair Income single on i-tunes. Since it's always cut off at the end before I can get my groove on, I put the lyrics I did hear at the end of the video into chatGBT and had it suggest the next line: "Dividends flowing, got the numbers to show, Investments on point, just let the cash flow."
And I thought I like the theme song...you're a real fan! I'll work on a way to integrate more of it into a future video.
Excellent summary video! To low a yield for me. Plus I want something more "buy and hold", REITs, even 70%, are to volatile.
Thanks for watching even though it isn't your "cup of tea".
@@armchairincomechannel Yes, RLTY is not my cup of tea but ArmChair Income is always my cup of tea.
I went with PFFR. No leverage. Pays a little less but if REITs start to perform, it will get up to 25 again. These equity CEFs are a good proposition after big crashes when the discount blows out to extremes. RLTY went for a 16% discount a while ago, that was a good time to pick it up. Now, not so much IMO.
Yes, buying the dip makes a lot of sense. Especially if its just some temporary bad news.
I love your videos, very informative. I'm very concerned with the RLTY because the expense ratio is so high (over 5%). I just haven't been willing to buy such a costly stock. Maybe if it dips a good bit I will change my mind to get into this stock.
More than half that 5% is interest expense. However, the management fee of more than 1.5% is very high. So I can see how that's a negative.
Thanks for another great video. I'm overweight in NNN and O, so I need to trim those and was I looking for a place to use the cash. RLTY would give me more diversity and better yield, win win.
Glad you liked the video! Those are all good options :)
Thanks for the info, also really did the theme song Brother 😂
My plan is that the theme song gets so stuck in your head you become addicted to it...hmmm...
😂
Sold RLTY, to fill out WDI, + ASGI. Feeling over diversified. Thanks for sharing your work.
Thanks for your feedback :)
Another great video.Always look forward to them! As someone else posted, really appreciate your insights, research and transparency without having to join a Patreon. I am 57 and retired. I have some rental properties that provide my living expenses but have considered selling some of them and replacing them with high income equities like the ones you profile. Love this idea, but just want to dig a little deeper before going all in.
This is my thinking, On a 100K portfolio, average return 10%(10K), Reinvest 3% for inflation and growth (3K), Taxes at 20% tax bracket 2%(2K). Leaving only (5K) or a 5% return to spend. Does these numbers seem like they are in the ballpark?
Thanks for your feedback
I sold rental properties when I retired. It's partly a lifestyle decision. I moved to SE Asia and didn't want the hassle of managing them remotely. But if the properties are good and the landlord hassles don't bother you then you could keep them, or keep some of them. Your numbers looks reasonable. The tax percentage depends on your other assets/sources of income. Also, its worth looking at if/how the rental properties lower your tax liability. Some of the benefit of real estate is the overall tax efficiency, not just the income and appreciation. I think the most important thing is to diversify so much that 1 or 2 events of bad luck don't hurt you. Best of luck!
@@armchairincomechannel Thanks so much for the feedback!
Always look forward to your videos. Good place to get ideas and I do appreciate that you share your analysis and portfolio without our having to subscribe to a patreon account. Thank you!
Glad you like them! I won't create a paid concept unless I can think of something new and additional that would be worthwhile (which would probably cost me money so I'd have to charge). The analysis and portfolio will always be free. Warren Buffett's portfolio can be viewed for free and he's smarter than me!
Hi, Why did you sell RQI?
It went up in value which caused the yield to drop below 8%. I have nothing against RQI; just found some other investments I preferred at the time.
Thanks again for a terrific review. Do you have any thoughts on NVDY with its outrageously high monthly dividend?
Glad you enjoyed it! NVDY lives or dies by Nvidia's stock price, which has had an outrageously good year. As long as that continues it will do well. But that's an extremely concentrated bet. It could gain or lose 30% in a month. I'm looking for income that's more stable, even if it doesn't have as much upside as NVDY.
Enjoyed the video! Also own RLTY. Have you looked at the Carlyle Credit Income Fund? Ticker CCIF and it yields 14.57%. Retiring next month and getting ready to collect that armchair income! Cheers!
Glad you like the videos, thanks for the feedback! CCIF is on my list to explore further, as are a few other CLO funds. Congrats on your looming retirement. What an exciting time!! I recommend traveling asap. There are a lot of places that are amazing but aren't famous...only way to find out is to travel and talk to lots of people while you do it.
BSTZ, cousin of BST, raised their dividends and are now at 13%. Picked up a couple hundred and hoping you might be able to tell us more. I believe BATZ has more private side than BST.
I haven't invested in BSTZ and it's been a while since I looked at it. I prefer more consistency from my income stream. Comparing distribution charts between BST and BSTZ....BST is a better fit for me. Generally, private equity is more volatile...ie higher return, higher risk. So it would make sense that BSTZ is less consistent. BSTZ may be a good fund, it's just not delivering the type of income stream I'm looking for.
@@armchairincomechannel good points... Strange how their price charts mirror each other. I only dumped a small amount of bst in lieu of bstz. Will see how it plays out. BST increases have been flat as a pancake for some time now.
I have IGR in place of RLTY...have owned it since February. Comparing the two from that entry date, which is roughly YTD, IGR has price appreciation of 26% vs RLTY's 17.7%, and also has a higher yield. So guess my questions is ..what's not to like?....is there some negative aspect I should be aware of? Was thinking to add RLTY to another portfolio on the next dip.
I haven't done a deep dive on IGR but at a quick glance it looks attractive...longer distribution history. It's currently trading at a slight premium to NAV versus RLTY's slight discount to NAV. The other factors you mentioned lean toward IGR.
To me expense ratio is not a concern when a fund performs well. My bigger concern is the leverage in a sector that is already highly leveraged. This is practically a double leveraged CEF.
That's a good point, and the leverage for RLTY is high. That's why I didn't buy more of it.
Do you think that RQI is a bad ETF now, or is it just that RLTY has a higher yield and more value to the NAV?
RQI is a GREAT fund! The NAV has decreased due to the price increase in the REIT sector but I’m hanging on to my shares and still dripping.
Nothing wrong with RQI. I like all 4 of the C&S funds I mentioned. Depends on your personality and comfort with risk. RQI and RFI offer less risk.
Have you looked at DX as an MREIT Investment? Thanks for any comments!
Not in any depth. With few exceptions, I'm reluctant to weigh much into mREIT's. The yields are great but I'm more comfortable with BDC's, or even better, a BDC fund. DX may be worthwhile, I don't have any special knowledge about it. The REIT Forum and ADS Analytics have some great mREIT coverage though.
Hi
what's your take on QDTE & XDTE ETF
Too much NAV erosion for me. I prefer the price trending flat or up.
Very informative as always, thanks. Just curious-from past videos about your portfolio, I noticed that you own PBDC but also own separately some BDCs that are held by PBDC, like Arcc and Blue Owl. Is there a reason for this (which seems a bit double dipping), or are the latter just legacy holdings?
Thanks for your feedback :) Regarding the overlap...yes, mostly legacy. As I bought more PBDC I sold some of the individual holdings, most the ones that were priced the highest vs Book. Second to that is that there are a few BDC's that I particularly like so I effectively overweight them.
Great videos, well done. I live in Thailand and have a portfolio of American shares with ibkr they tax me 15% on dividends ,would that be the same with Neos etfs?
The 15% is a withholding amount, its not based on the tax rate. If you want to pay the actual tax rate (which will probably be less than 15%) then file a tax return to receive a refund for the difference. The significant return of capital from SPYI etc would be more tax efficient than most funds because Non-US tax residents aren't subject to capital gains tax. Verify all this with a tax accountant familiar with US tax law, but that's my personal experience.
Love these thumbnails 😂
Thanks! Nobody has ever complimented me on them before...I really appreciate that!
I bought it a few months ago as a dropping interest rate play
You were ahead of me :)
Funny, RLTY was on my priority buy list.......you beat me to it 😊
I hope the video helps you make a decision :)
I'm super conflicted. I really want to add a REIT focused CEF to my taxable portfolio but they tend to be very tax inefficient. I'm about 13-15 years from retirement so the tax drag may be too much to stomach. Maybe once I'm actually retired it will make more sense.
Anybody else in this boat?
I was in your shoes. I love income investing but when I was working it wasn't tax efficient because of my income pushing me into a high tax bracket. Maybe just keep a small token income portfolio to learn the ropes so that when you get closer to retirement you can just add a few zeros and your learning curve won't be so steep.
For the algo
Thanks for watching!
Yield too small, pass.
How is 8% to small
😅😂🤣😭
@@TristanRailsback-c9c looking for at least 10% 🤷🏻♂️
Thanks for stopping by anyway. It's at the lower end of what I'm looking for.
check email please
I checked my email Inbox. Didn't see any new messages.