All Forum Posts by: Jerry W.

@Jake Cohen, is this an in person event or can you participate through Zoom?  I lie about 400+ miles from your event.

@Brayden Flack, welcome to BP.  I invest in central Wyoming.  I was born in Rock Springs, and graduated from WWC a long time ago.  I did not grow up there, but have a lot of relatives there.  Let me know if I can be of help.  I own a fair number of rentals in Thermopolis and a few in Worland.

@Jonathan Bauer welcome to BP.  Opinions on here are worth what you pay for them, mine will fall into the same category.

I respectfully disagree with the advice above. First you are buying an exisiting mortgage, I see absolutely no reason to go the time and expense of that kind of entity. just form an LLC and use reputable mortgage servicer. Anonymity is pretty much useless for active hands on investors. A deposition or interrogatory will slice through that like a hot knife through butter in my experience. Do business ethically and observe the formalities of the separate entity. You can spend all your money and time setting stuff up, but instead spend your money and time just doing it. None of the really big and successful players on here use those complicated entities.

Hey bud, welcome to BP. My thought is to do a single LLC for your first purchase and use it until you get to about $500K to $1 million in value and then form another one. So don't waste all your time, energy, and money on entities, spend it on investing.

@Jay Hinrichs, @James Wise, you can take the 5th during a deposition, but is my understanding that you can argue to the judge or jury that it can then be used as evidence against them.  In a criminal case it is absolutely prohibited to comment on the right to remain silent, you can be sanctioned for it, but in a civil case you can beat that thing like a base drum.

@Brooke Cottrell, thanks for sharing.  what is your average nights rent?

@Dawn 

@Dawn Anastasiundefined who helped critique my first and very bad blog.

and @Ben Leybovich, I argued with Ben a lot and disagreed almost always, but I also always learned something.  there is nothing like an argument to truly make you think.  Thanks for your articles ben.

I would like to add @ben leybovich and @dawn Brenegen, but it won't let me.

Ben always said things I disagreed with, but always made me think.  I learned a lot in arguing with Ben.  

This will be tough, I am leaving out LOTS of folks as I am bad with names:

@Marcia Maynard, an incredibly intelligent and kind lady, knows so much more about ADA issues and companion and service animal issues.

@Bill Gulley wicked smart on anything notes or liability, or anything.  I wish I knew a fraction of what he knows.  I always learned from anything he posted.

@Brandon Turner, it was an article he wrote that first led me to BP.  All of his interviews with what book to read have been priceless, I have read many thanks to him, and by watching him grow as an investor has helped me see how to mature as an investor as well.

@Steve Vaughan, @Bill S., and @Account Closed, have all taken the time to meet me in real life, if you will and just share company and dreams as a recharge from a life with no one to share my enthusiasm with.  All are kind, intelligent, and just fun to talk with.

@Nathan Gesnerhas given me great advice on managing rentals, as well as a sounding board, and companionship.  it is always a treat to share a cup of coffee and piece of pie with him.

@Account Closedextremely intelligent literally wrote the book on how to do the math and understand the numbers of real estate.  It was very intense, many parts had to be read 3 or 4 times to comprehend.  it was like trying to drink a shake that had 2,000 calories in it.  It was so rich it was hard to take it all in.

@Jay Hinrichs, has done it all and has great insights and shares so freely.

@Steven Hamilton II a wicked smart accountant, who has been able to accurately answer almost any question.

@Jean Bolger has shown me what true courage is.  She put her time and money where her mouth was.  great inspiration.

@Matt Faircloth and @Liz Faircloth have written great articles and shared a wealth of knowledge.

@Account Closed, super smart showed you could invest in CA and do great, and always a kind word.

@Mark Ferguson, who I tried to meet several times but our calendars would never cooperate.  Took massive action and wrote many blogs that inspired me, and was the first person to mention life coaching.  Something I tried years later much to my benefit.

@Brian Burke who inspired me by going from cop to mega investor one step at a time, great common sense.

@Shiloh Lundahl who got me into my mastermind group, thank you.  @JD Martin for his humor.

@Dave Van Horn for advice on notes, and common sense, like @Ned Carey who makes things look simple by using great logic.

@Jon Holdman, absolutely fearless on throwing the b*llsh*t flag on stupid posts that might provide bad advice.

It won't let me add more.

@Kyle Phelps, you are missing something huge. California will tax you regardless of where you form an LLC or where the property is. Call and talk to a California accountant. It is a crazy bad tax. I am sorry to be the bearer of bad news, but CA is probably the absolutely worst state for high taxes. It is hard to believe that a state with massive wealth, silicon valley, Hollywood, Los Angeles, San Francisco, etc., can tax so much and be so broke. The politics there are crazy. There court cases are so weird they are often distinguished just because they are a CA case. Absolutely beautiful place, simply amazing weather, no idea how they went so strange.