All Forum Posts by: Bob Malecki

Quote from @Leila Wells:

I'm looking into Aspen right now.  I'm close to making an investment.

Aspen is a very well established investment fund and I'm thinking about investing with them as well. Also check out Spartan, which invests only in self-storage across the country. They're opening up two new funds this month - feel free to contact me and I'll send you more info. I've invested in one of their properties about a year ago and it's performing very well.

yes, your supposition is correct but the best deals are far behind us at this time. Our next recession in the US may provide some reasonable volume of npls, but that depends on many factors. 

Also Jared you don't need to set up an LLC. Your bank should understand that the solo 401K is a trust and they can use the trust as the entity to set up your checking account. Please note that I'm not a lawyer and do not provide legal advice, also each bank has their own internal policies so I could be completely wrong about your Banks position on this.

I was able to open up my solo k with my local bank although they initially thought I was trying to set up a business 401k and wanted to refer me to their business department for this. I did show the bank manager all of my trust documents for the solo k and they finally understood how it worked and I've now been using that checking account for the past 5 years. 

since I had all of my other business accounts at this bank I wanted to have my solo k account there as well and it was worth the time and effort to get them to understand how it works. Don't give up on local banks!

Quote from @Chris Brown:

There are 2 conferences coming up in the near future that I am interested in attending but I can only choose one.  One is the Paper Source seminar and the other is Note Expo.  Being relatively new to the space, which of the two would be my best investment of time and money?

Chris 

I recommend Paper Source as it's a little more broad and scope and definitely geared towards newer investors in the note space. None of the speakers are allowed to have a heading agenda or promote their own products or consulting. At note expo there is a bit of educational upsell attempts into the node school program.

I've attended both conferences over the past 7 years and still find the papersource conference one of the best values for my travel expenses in educational investment.

I don't expect much activity for the remainder of this year. As I understand it, a strong recession is expected around Q2 of next year, and I think then we'll start seeing some good opportunities for distressed debt acquisition, assuming the recession runs its course. 

I've been using NREIG for all of my forced place insurance policies on residential mortgages. Everything is done via email and the monthly payments are deducted from our bank account via ACH. 

Frankly, I would focus on Bremerton. With the naval shipyard employing thousands of workers and Seattle over spill of employees who commute via the ferry, Bremerton has much more upside over the long term. We purchased a duplex in the Phinney Bay area in 2007. It barely cash flowed at that time but now we are seeing over $900 per door net profit. Our tenants are professionals who have been renewing their lease with us for the past four years and one of them is a nuclear engineer at the naval shipyard for instance. 

Bremerton is not the prettiest town in our area, but it consists of a large population of middle class workers who may not be able to afford to buy a home due to the rise in prices and mortgage rates.

I'm collecting social security and received a letter from SSA stating that I made too much money in 2020 and they will hold back distributions to make up for payments made Jan-March 2020. So I'm trying to determine how this will work for 2021 since my 'full retirement age" was met last year on 8/31/21

Does anyone know if I'm subject to "over-earning" for 2021 up to 8/31/21 or am I essentailly exempt since I reached full retirement age in that year? 

I'm trying to figure out how this will be calculated to avoid another overpayment notice next year. 

I agree with Colton, as I've recently found some syndications in self-storage and larger multifamily acquisitions. These have a projected irr in the mid teens. Much of this depends on the sponsor / operator so I recommend that you perform your due diligence not only on the property but also on the operators.