All Forum Posts by: Dylan Barnard

@Mitchell T.

Yes, you can make money mining on the backend, but that business's profitability is measured in USD, not BTC. Plus, you have a highly variable top line, so you can swing from operating at a profit to operating at a loss within minutes. The model is not sustainable and very risky long term. 

At least you realize what you are getting into, because so many people that I talk to are betting their entire retirements on this stuff and they don't even understand it. That is exactly what happened in The Netherlands in the 1600s with tulip bulbs, and the laws of economics have not changed since then. "Tulipmania" is as real as it ever was.

@Mitchell T.

Buying cryptos is not investing. Intelligently investing money into something requires that the asset you are investing in will pay you back in some form in the future. With a stock, it is dividend payments and increased shareholder value with reinvested cash into the business. With REI, it is monthly cash flow via rents minus expenses. With a dollar, which is an actual currency, you can buy "risk free" assets like Treasury bills, notes and bonds, which yield coupon payments (interest) plus the present value of the principle that is paid back at maturity, etc.

You cannot (to my knowledge) buy any kind of bond or get any kind of yield out of cryptos. Therefore, it is not an asset, and it is not an investment. It is strictly a gamble. Please keep this in mind when you are putting any money into these so-called "investments". No crypto owns the blockchain. There's no way for you to get any kind of positive yield or return unless it goes up in value because of others saying it is worth more. That is a very dangerous game to play. It is nothing more than a sophisticated Chuck E. Cheese token. 

 Hi Femi,

Yes, @Tyler Hodgson is the man. Definitely reach out to him if you haven't already. 

 Thanks Jeff. Hope all is well with your new life in TX.

 Okay, sounds good. Thanks Ronald. 

 Thanks Ryan. I will wait for a response from Ronald or give him a call a little later today. 

Good morning BP.

My wife and I want to speak with a Texas attorney in DFW as soon as possible about how to set up our business. Since she is an agent, we want to make sure doing everything in accordance to the law. Any referrals that you have will be much appreciated.

Thanks,

When you guys say carrot site, do you mean just a site that draws people into your business? 

Well, he told me he bought an 8plex in San Marcos that he is slowly renovating as tenants move out for around $565k I think is what he told me. We stayed in one of those units when we visited for memorial day, and he said he's been putting around $20k per unit in renovations and raising rents to around $1200 per unit. I'm not sure what they are getting for the non-renovated units, but they are going to try to fetch over $1 mil when they are done with it. Might take another year or so, but he's making it happen slowly but surely. I'm up here in the Dallas / Fort Worth area, so I'm not familiar with much other than what he tells me he's doing. But it seems like San Marcos still has deals, and it has the college and the river, which are huge pluses. 

 You are correct on both fronts. Haha I have a buddy down there, and he's maving to move around to Roundrock and San Marcos (suburbs/college town) because of the madness.