All Forum Posts by: Jerry W.
Jerry W. has started 26 posts and replied 4117 times.
Post: Backing out of a great deal because of coronavirus covid-19

- Investor
- Thermopolis, WY
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Wow, @James Denon, it is possible for a recession to start. I have seen a about 3 really big recessions, and they can be bad, but they pass. It appears to me that recessions, much like bull markets are often based in large part on the attitude of people. The decision to spend or save, to invest in new equipment and expand, or hoard cash, determines how many goods are sold, how many jobs will appear or disappear, etc. I can tell you that people figure out how to get by. They quit buying the $8 coffee, they put off buying a new car for a another year or 2, they vacation if the U.S., not over seas, they move in with relatives and out of their apartment, etc. This will definitely hurt the economy, no doubt, the question is how hard and how long. There is no answer. To top it off we were at record high growth in the stock market. record low unemployment, GDP was climbing, housing was up to record highs. So yes it will decline, but we were due for a correction, this will just be a little deeper than had there not been Corina virus. I am just guessing when I give you my thoughts, but I think it will let a lot of wind out of where we were going, but it will come back. Things are going to get worse before they get better though. People will panic. there are a LOT of stupid people out there who have never had to face anything hard, they will do things and the economy will suffer. There also a lot of smart people out there. They will start buying up deals and making money. I am impressed at how hard the government is pushing recovery and economic recovery packages, and how quickly it passed. Lately they couldn't agree on calling the fire department if the capitol was on fire. Be careful and good luck. Wish I had better answers.
Post: probate

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- Thermopolis, WY
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@Junior Jeune, this will vary from state to state. Some states will allow it to be checked online, some don't. You can also watch the newspapers to see posted obituaries and then check those names against property ownership from the courthouse.
Post: Coronavirus Impact on Beach Rentals in North Carolina

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- Thermopolis, WY
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Post: Coronavirus STR Data

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- Thermopolis, WY
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Post: Corona Virus and Air BNB

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- Thermopolis, WY
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Post: How are you handling Coronavirus cancellations?

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- Thermopolis, WY
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Post: Inquiries ... a giant waste of time

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- Thermopolis, WY
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Post: Anderson Business Advisors

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- Thermopolis, WY
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Post: Ideas for joint venture arrangements for vacation rentals

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- Thermopolis, WY
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@Chris Luth, I have tried the partnership both at home and out of state with different results. here is my opinion. First all that you are investing is your time. if you have a bad year and walk away you don't have any liability that I am seeing. Your time has a value, but you have no risk. The only way I would probably be interested as an investor is a deal where I would get my investment and interest out of the deal. After the investor is cashed out then figuring out the split would be tougher. Would you get 50% period, or would you get a bit more since you are doing most of the work? it is easy to say you will make say $38K profit in a year, but what if you don't? You are not the guy losing his down payment and credit rating. I would probably do a deal for you to get a bonus after you hit a certain base amount of profit. there would need to be a clause that if the management of the property was no longer managed by you or if it did not perform to certain criteria that you would not receive any compensation or a reduced compensation until I as an investor at least made a decent return on my investment. What if you only garnered a 10% return on investment? if you split that the investor only makes 5% on his money and he might be paying 6% in interest on the money he is using.
I put about $50k into an out of state investment once and I was to get 10% return on my money and get my capital back then split any profit. After 4 years I barely got my capital back and no interest. While I didn't lose money in actuality I lost the use of the money for 4 years and it cost me 6% as I could have paid other loans down and saved 6% interest. It really slowed my growth for those 4 years. Don't underestimate the risk to the investor. Everyone promises great returns.
Post: Am I paying too much for cleaning?

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- Thermopolis, WY
- Posts 4,327
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