Solar Salesman explains that he is in fact a temporarily embarassed millionaire as he's 30'000 in the red the last few months with less than 5k left in his bank account

I was doing some other stuff while listening so even odds I've gotten stuff wrong.

Christian Harrison 24 years old Denver, Colorado

Career:

• Runs a "door to door sales team for residential solar systems"

• 179'000 last year, "a down year"

• Best year 208'000, moved to a new city from Atalanta, business slower than he expected so far

  • Was doing security systems, moved to Solar? Same company, different department

  • Solar is 2-3 month sales cycle (time from sale to payment), while security was a couple weeks

  • 60-70k sales currently in pipeline, about to start busy season (summer is best for solar apparently?)

• "Are you in a pyramid scheme that's actually generating you money?"

• Owns a rental property

  • $2500 mortgage

  • $700 rent

  • Had bought to live in initially

• Paying his rent with his business account

• Works 50-60 hours a week

Debt -

• Personal Loan to do a "private equity investment" early last year

  • 19'200 remaining of $25000

  • $756 minimum monthly payment

  • "Medical device company" (Valuation has doubled since investment)

  • 7% interest

  • Planned to pay it off before the end of last year, hasn't yet

• Bought a car after moving

  • another guy with a dumb 4Runner purchase

  • $657 monthly payment

  • 31'500 remaining

  • 7% interest rate

• Credit Cards

  • Last month was first time ever he hadn't fully paid off his cards, rationalizes eating interest as worth maintaining his current lifestyle

  • Capitol One

    • Paid $7'733 (fully paid off?)

  • Spark Business Cash

    • Business Credit Card

    • 8'000, not paid off?

Expenses -

• He ballparks his spending $8'800

• Lots of eating out, sometimes 4 times per day

  • Chipotle, IHOP, Wendy's, Starbucks, gas, gas station snack (every day )

• 5k airbnb one time (not a common one allegedly)

• "I know I shouldn't pay interest, but I don't want to decrease my lifestyle"

• lot of uber eats and recurring payments

• Two bedroom 1900 sqft penthouse in Denver, video included, looks very nice Timestamp

  • $3900 rent, $200 utilities

• Budget Timestamp

• 19'400 incoming tax liability he didn't set liability aside for

• $11'000 in student loans, currently interest free but starting soon

  • around $150 monthly payment

Savings -

• Account was 40k in October, now 6k

• Allied High Yield

  • $2'000

  • Was 18'000 a couple years ago

  • Was his emergency fund

• Investments

  • Fidelity Roth IRA

    • $47'000

    • Index fund and S&P

  • $17'000 in crypto

    • Ate $195 fees while selling his crypto during the talk from based Coinbase