All Forum Posts by: Henri Meli

$80k on a mentor? First thing you need to do ... is do a serious lessons learned review of what you did wrong. The biggest mistake is not your market. Going to KS and pay another mentor $80 k won't fix your problem.

I have learned over the years that, the only strategy that makes good money AND keeps me sleeping at night in this market is to Dollar cost average ETFs, following the Dogs of the Dow approach. I buy at consistent intervals regardless of the news. I'm planning to hold for a few years.  

Some people believe that by kicking people out, they will immediately find a replacement. They might be in for a shock. People generally move for a job. If companies aren't hiring, why would anyone move? Empty buildings can be easy targets for criminals.

@Tyree Hill . Thanks for the inquiry. Not at this time. 

I was provided with the opportunity to purchase a buildable lot at a very interesting price. The lot is located near a major road expansion in a very fast growing area. My plans were to either develop it myself, partner with a developer or sell it later if the other two options aren't viable. 

The biggest challenge I see is that the lot is located near a Mobile park. My thinking at this time is that, If I were to build townhomes or SF on the lots, the presence of the Mobile Park in close vicinity of the houses could be a deterrent to buyers.

I would like to get the opinion of others on this topic. 

Thanks.

Great question. The reality is there will be "Life events". And there will be "Business Events". Governments, States, Counties will need to adjust rules, laws and  people adapt to new ways.

Life Events: People will loose their jobs, family members (unfortunately), People who never had any savings will be forced to dig even deeper into debt. People will be forced to make choices...Some jobs might never get back, because companies have found new ways of doing things ...20% unemployment rates has been mentioned already by the people in charge. 

Business events: I know people avoid saying it, but we are already in a recession. Major areas in the USA economy have already grounded to an almost complete stop. Many Airlines are grounded or flying almost empty, Hotels, Gyms,  Manufacturing, Restaurants, Leisures, ... etc.  Many companies had been existing on massive debt and endless borrowing circles. And will certainly need massive bailouts. Should they be bailed out just without condition? 

Psychological: Many people have never seen a recession. Others thought there will be growth forever. Welcome to reality. How will they cope with it? We don't know.

Policies: Just like with every major event, there will be policy changes. Some of these changes might impact everything we used to take for granted. 

End in sight?  What's the plan to get us out? I'll be honest, I still don't know what's the plan to get us out of this. It hasn't been spelled out. And we don't know when this will end. 2 weeks? 2 months? Who knows? That's why the stock market is still confused. Can this happen again? What should we do to prevent a repeat?

All I'm really saying is ... prepare for the worst.  

Not trying to be political, but as far as I'm concerned, there are too many uncertainties and no real convincing plan/road map. The situation won't just go away because we wish it to go away!!! It happened for a reason: As a country, we failed to plan for this. I actually wonder if people in charge understand what's going on !!! 

Great information. Yes, the Durham situation has been a massive mess.

Thanks for your answers @George Blower

Some other questions in regards to self directed IRAs. 

2 parcels of land are available. I purchase Parcel 1 (parcel_1) with my own funds, Parcel 2 (parcel_2) with self directed IRA. I start the process of developing Parcel_1. Doing so will make Parcel_2 more valuable (at least, that's what I have seen in my area). Could that bring me in trouble with the IRS?

What if Parcel_1 was landlocked and Parcel_2 had access to the road. If I purchased both and provided Parcel_1 an easement ... therefore making Parcel_1 more valuable in the process? Could that bring me in trouble with the IRS?

@Tommy F. . I'm curious what you ended up doing with your scenario. I live in NC and was offered a piece of land that's currently landlocked. Inherited from the current owners. The location is great and the price is not bad.