All Forum Posts by: David C.

I own my consulting business. If I do millions in damage to some big companies computer system, their lawyers will shred my s.corp.

If In drunk drive and kill a kid, they will take my s.corp as an asset.

My s.corp is good for marketing, and small liability, and makes it more clear that I'm not an employee.

Obviously my contracts and s.corp are properly maintained, but really, the people I'd be up against make me think its pointless.

If your management of one entity makes you personally liable, then they are all at risk.

If you own ten entities, and are found liable, your ownership of those entities is an asset that can be taken from you, right?

I can't confinve? wth? 'I can't convince the wife'

I think, once you can leave your 'day job', it really becomes much easier to have fun at your day job. Once I had enough saved and invested(no RE, just regular stuff), the power balance shifted, and I really began to enjoy my day job. I don't put up with anyone's crap or kiss any rear-ends, unless I know I'm doing it as a strategy.

I realized what I disliked was other people having power over me. I actually like the work. I like it so much, it has kept me out of real-estate. If I were a landlord, I'd have to suffer tenants, and there are laws about their rights. If I don't like a job, I can quit right then.

However, for tax and return reasons, I'm considering NNN leases, but I can't confinve the wife that its worth the risk to invest in something so illiquid.

Maybe I'm an optimist, but I read 'deep pockets' and 250k-300k in cash as: Net worth of $5,000,000, 250k-300k in CASH(checking/money markets).

If the woman has only 250k-300k, she's not a suitable investor.

I'd say if its your mother-in-law forget it. If she's a debbie downer and you push her past her risk tolerance, and something does go wrong, you will live with it forever.

I'd only want investors who both understand and ARE COMFORTABLE with the risk they are taking. There are plenty, go find them and leave mom-in-law to her CD's.

Just my opinion.

I'm very happy with my paid off mortgage. I consider it the 'bond portion' of my portfolio. I paid off a 6% mortgage about 4 years ago. Its like having a 200,000 annuity that pays my rent.

I know that I'm losing out on the spread between what I could borrow at with my secured loan, and what I could earn with another investment. I'm willing to lose out on that small spread to have the peace of mind of having a much lower monthly 'nut'.

Mathematically its not ideal, but there's more to life than math. It makes me happy and more willing to take higher risks elsewhere.

I'd put some large area rugs in those rooms, the crazy tile patterns won't be so offensive as an interesting border.

It is work to filter through the clowns and people without money who will reply to your craigslist ad. A wholesaler should have a list of 'buyers' who they can call, and quickly move the property to.

I believe you can put out that ad and serve as your own wholesaler. I suspect you'll spend between 10 and 100 hours dealing with the responses, doing showings, etc... You will likely get more for the house.

I did not understand wholesaling either until my in-laws were motivated sellers, rather than wholesaling, the did an auction. They did not get a great price for the house and the auctioneer got his cut.