All Forum Posts by: Eric Schultz

Sean Durham What type of business is it? This could be an opportunity to increase your rent on this unit as well, but get familiar with the local zoning laws. If it is legal to operate the business and won’t disrupt other tenants, maybe it is worth considering. If your insurance allows it, than it seems fair that they have a policy that covers their business activities and further protects your liability on the property too.

Well played house hack. Put that $980 / mo to work in some more real estate!

James Wise I’m in a few deals as an LP and looking to do more this year. One of the operators I’m looking into this year has averaged a 32% annualized return for their investors over their last 16 deals. They have an interesting model. I can share more if you want to send me a DM.

James Wise 200+ unit complexes There is something to be said for the limited partner invested in syndicated deals of 200+ units. Passive income with efficiency and shared tax benefits. With one or two good operators that you know, like and trust, you can be diversified in multiple markets.

Kristin Shopp You might look into Western Wealth Capital. They do deals in the Texas metro areas. Must be accredited to play. Pantheon Investments may also be of help getting into the syndicated MF space in Texas.

William Edwards You might want to look into an eQRP (enhanced qualified retirement plan) versus using an SDIRA.

Steven May Are you using a buyer’s agent or working with the listing agent direct? This may play a factor in the strategy on how to handle this situation. It doesn’t seem like there would be reasonable time for the seller to make a proper repair before closing, so best approach would be to request a seller credit. Some home inspectors are able to suggest a fair repair estimate to support the credit request. Did you order an appraisal? If you are already buying under market value, the cost of repair may be worth taking on to secure the deal.

Shiloh Lundahl Glad to see you took the book recommendation. DeMarco definitely made his millions but it didn’t come without a lot of sacrifice. He gave up more than most are willing to do to achieve more than most ever will. Most of the middle class remains in the middle class because they are satisfied with just being comfortable. The burning desire to set and crush goals is too uncommon. Millionaires are so common these days, especially in a state like California. It’s a great milestone to hit, but it doesn’t necessarily pencil out to financially free for the long term. On a positive note. The second million should come easier than the first million did. Cheers!

Jimmy Lieu The concept of “dollar cost averaging” applies to real estate as well.

Shiloh Lundahl Read “Millionaire Fastlane” by MJ DeMarco. To save you some time, here are a few concepts shared in the book: Wealth is a process, not an event. $5 million is the new $1 million Wealth is accelerated by exploding income and asset value via a business system that can be systemized and eventually sold in a liquidation event. Fast wealth is created exponentially, not linearly. Fastlane Wealth = net profit + asset value Liquidation events transform appreciated assets ("paper" net worth) into money ("real" net worth) that can be transformed into another passive income stream: a money system. To make millions, you must impact millions.