All Forum Posts by: Billy Smith

Funny how they keep changing names of life Insurance. Sounds like a whole life policy stay away from its terrible way to have life insurance.

Life issuance should be used if you die and leave wife /children with un paid BIG bills.

I bought term insurance read up on its fact I need to drop it I really no longer need it.

The cost of whole life insurance can easily exceed a term policy with the same death benefit by thousands of dollars a year. As a general rule, expect whole life policies to cost five to 10 times more than a comparable term policy.

When in doubt turn off street valve .

I hold all my SFH but they must be in an A /B area they are easy to sale vs multi family.

The value keeps going up yes there are some times that the growth is not great but, in my area, even in bad times I still get growth.

When the SFH is paid for I can quickly get a project fund set up to fix what comes knocking.

Replacing roofs etc.… is not a big deal only because I know who to use, plus the ability to save money on projects!

With a large amount of SFH that are heavily leveraged only flowing a little cash per month a roof job could really sink your business model

Fact a few of this SFH I would live in later in life.

 find a house close by with the same lay out ,then deduct for work needing to be done.

If no luck keep going out tell you have a comp that works .

Lots of times it is the capacitor blows from being hot, fix it you are taking on the the liability of keeping items fixed like that.

Having said that you need to train the renters or yourself to do basic up keep on the unit.

Change the filter on a regular basis depends how often from the type of filter or how dirty they live

Hose the out-side unit down couple times a summer maybe more if it gets dirty quick.

This will make the compressor last longer $$$$$$!

I only buy and hold in A and B areas, if I were buying in C or lower, I would flip it get it off the books.

Great info water is the number 1 cause of foundation issues .I am looking at a house where the front wall needs to be dug out then  pushed forward then pinned .

The owner is in la la land I told him what needs to be done, he just bought dirt  sprinkled it around the  house .

The sellers always try to do as little  as possible then use  language  in the sale to cover their a....

Lots of folks will walk away from major foundation repair on sales  ,with rentals really does not matter still good  money .

Dave preaching getting out of debt is always sound advice, his target audience is folks who do not understand basic fundamentals of managing/investing money.

Then comes the part where Dave falls short, he uses fee-based advisors who pay Dave fees to be part of his program. He does basic back ground checks on them from what I gather.

His advisors use heavy based fee mutual funds so you have fees on top of fees over the long haul that will be a big chunk of money.

His return of investments is wrong too he never shows you this mutual fund that beats the world. I read where he grabs numbers of benchmarks returns to get his 12%

The issue is it would have to be an index fund mirroring the benchmark. Dave uses mutual funds heavy with fees that will not make that return after you do the correct math subtracting fees.

Dave ego will not let him change the part of his program where he is just wrong.

I would put money to work in an index family of index funds, you need to study how much risk you are willing to take, based on age, and do you need the money into the short term.

I like Vanguard I understand the company. when you invest 500k or, more you can get a free advisor or very low fee with vanguard they can walk you through what to do based on what you tell them on risk tolerance.

Vanguard is a trillion-dollar company they will cover you if some one is a loose cannon causing to lose money based on fraud type actions that works for Vanguard.

Then I would hire a company that you do back ground checks on a company that can help you invest in real -estate. If you are not sure on how to do a back ground check on a company to help you invest in real estate, check with a lawyer in the field.

I would invest in ‘A’ type of properties no need to have risk here.

After 8 years it is beyond cleaning it is time to look for damage to the property .

I  tell my renters to have it professionally  cleaned then tell them what that means .

I would have it sprayed  for bugs no matter what you see before humans live in it .