All Forum Posts by: Calvin Thomas

Hi, this is a little strange. I am just planning.  It appears I may get 500,000 settlement in a few months.  However, I was trying to think what is a good way to go with it.  For example, if I do S/P top stocks, I could get around 11%. 

but if I did real estate and I have a 800 credit score - could I do real estate and make it work harder doing turn key Multifamily.  I do want to thank people for taking the time to answer this.  What I like about real estate community you all are open about trials and tribulations.  When you talk to finance people they act like they are lawyers. It is hard to figure out if I will make anything but VERY clear the fees (lol).

Cash flow goals depend on your investment strategy! Here's a breakdown:

• Conservative: 8-10% after covering all expenses (mortgage, taxes, insurance, property management). Focuses on stable, long-term returns.  
• Moderate: 10-12% after expenses. Aims for a balance between cash flow and potential appreciation.  @Matthew Paul it seems you recommend at least a 10% ROI.
• Aggressive: 12%+ after expenses. Prioritizes maximizing cash flow, potentially with higher risk or management intensity.

Remember, cash flow isn't the only factor! Consider factors like appreciation potential, vacancy rates, and your overall investment goals. @Calvin Thomas would you do $100 cashflow if it was a high appreciation low vacancy market?

What's your investment strategy (conservative, moderate, aggressive)? What other factors are you considering besides cash flow? Sharing your goals can help others provide more specific advice!  @JD Martin makes a good point to consider your W2 income and your age.  The older I get the more cashflow I want and not willing to wait for appreciation.  

@Greg M.how did you get financing on a deal that is losing $700+ a month?  Is there something you can do to get to cashflow positive sooner than later?

Reserves are key as  @Theresa Harris has pointed out.   @Nathan Gesner pointed out my situation.  I stack cashflow for capex and repairs because I have a decent W2 job that I live off of.  Just like @Mark Cruse stated I don't want to loose money every month on any investment. I lean towards cashflowing deals.

I stumbled across this lawsuit while looking for something else.

As I have mentioned before in this forum an LLC that is not 100% property ran can easily be pierced and the owner sued personally.

Here is an example of where an attorney went after someone that thought their LLC would protect them:

18. Upon information and belief, the member(s) of the Defendant have failed to observe any corporate formalities in that: a. b. c. d. e. f. g.

19. The members did not observe corporate formality; The Defendant did not pay dividends; The Defendant was insolvent at the time of its actions; The Defendant’s members siphoned funds from the Defendant for their own personal use; The Defendant’s members comingled funds; There are no corporate records; The corporation(s) were a facade and alter ego of the member(s) of the Defendant. In addition to the eight (8) factors laid out above, failing to pierce the corporate veil in this matter would create an elementary injustice and fundamental unfairness. The member(s) of the Defendant have used the corporate shell as a way to avoid any liability for the serious injuries that were caused to the Plaintiff and others by the reckless action of the Defendant’s member(s) and agents. With this in mind, Plaintiff should have compensation directly from the member(s) if the same cannot be had from the corporate Defendant. To deny this compensation would create an injustice and fundamental unfairness.

20. For the reasons and for other reasons to be proven, the Plaintiff is entitled to pierce the corporate veil and assert individual liability against the member(s) of the Defendant.

 Nothing unfortunately. But my local real estate market is unreasonable for investing. I'm in a 1,300 sq ft apartment that's worth about $1.5 million and rents for $3,000 per month.

Hey, Y'all quick question. I have recently started writing down addresses of run down or abandoned properties that I would like to purchase, but I only have the owner's name. How do I get the phone numbers of the owners of the properties? I have used Prop wire for some skip traces, but the numbers and emails it provides were not associated with the property. Is there a better way to contact the owners of these properties?

I'm thinking of buying US real estate as an overseas investor. How important is it for me to be able to easily visit my target market? I can get a direct flight to major metropolitan areas, but it would be much more difficult to get to Topeka or North Dakota, for example.

I feel that I'd like to see the market at least once, to get a feel for the area and to meet the local team. The cost of that trip would effectively be included in my purchase price. Once the initial setup is finished, how often do you visit? Do you ever have to take a last-minute trip?

I just got billed $365 by my property manager for replacing a toilet fill valve and supply line. That seems a bit high to me, but I figured I should check before I get too upset about it. Does anyone local to Memphis know what the going rate for simple repairs like that should be? 

Checking Home Depot, it looks like parts would be $30 or less. That leaves $335 for labor and the property manager's fees. Is it reasonable for me to ask the property manager for a breakdown of parts/labor costs?

So, what you're saying is that you were incorrect on that point because the only people you could give an example of using a flip phone don't do it because a smart phone is outdated as soon as you buy it. 

You also gave no specific reason you believe the technology "is just not there". Giving no reason is effectively the same as having no opinion.