All Forum Posts by: Levi T.

Welcome to BP, and Fred Vegas, so close to DC, yet so far away 😆. Lot of meetups just up the road, and down in Richmond. @Taylor L. has an awesome group down that way I highly recommend. 

Let’s be clear, passive income is only passive if you hire enough people to make it passive.

Your Stocks, ETF, or Mutual funds are not managed for free. Your paying someone to manage it for you, and or pick them for you.

If you have a good property, with good manager, it’s the same thing.

Same goes for any of venture you may get into.

I’ll buy a ditch digging business if I have a enough people to dig ditches for me!

Do not try and bend the spoon, that's impossible. Instead, only try to realize the truth...there is no spoon. Then you will see it is not the spoon that bends, it is only yourself. 

She will find out one way or the other. They live next to each other. It’s like a child who is upset that others get to do something they can’t. 

Conflict will always continue, unless you give it an escape, so you must design one. A simple solution which gives you your answer, and solves the problem, is to tell her you don’t allow pets, however if she is willing to pay a very high pet rent per month per pet, and pet despot, you allow it on a case by case bases. If she gots the money, you win, if she don’t, she excepts that she just does not have the funds, and you still win. Make the pet rent/fees/deposit, whatever makes you happy to allow her to have a pet. Problem solved. She will assume everyone else can afford it, and she can or can’t.

I recommend you read René Girard’s book, Things Hidden Since the Foundation of the World.

It is the conversations that educate us, innovate us, and make us. 

You need to be willing to push yourself to climb, learn, and question norms.

You need to have limitless curiosity, and drive. 

You need to have conversations with others, and yourself, always.

I have no formal education, or mentors. I’m on my 5th multimillion dollar business. I’ve sold each of them to some of America’s best known brands, simply by getting out of bed each morning and asking, now what.

Good luck!

I was working with a broker for a personal loan on a 2nd home, and I noticed in the document they had plans to unload the service rights on the loan fairly fast, but that got me thinking about the business itself, and now I have a million questions!

I know brokers resell residential loans, but does anyone do that just as regularly for commercial loans? Who’s normally buying them?

What defines a commercial loan vs residential, at the loan formation level? 

Most commercial I know are amortized over a set number of years with a 5 year arm. What says it’s residential vs commercial loan?

Residential does not have the arm... but can a broker form a loan that is compliant with commercial loan regulations (if there is a thing) and not have an arm?

So could a broker for example form a 20-25 year commercial loan with no arm, and sell the service rights fairly easily on the marketplace?

For whatever reason this really percolates  my interest, and I would love to know as much as possible about loan formation and selling them as a business.

I’d like to look at using smart locks on a few hundred rentals, but we can’t use WiFi. Anyone have leads on a smart door locks that support cellular service or something that lets us set the code remotely?

I need to be able to ship the lock to a vendor anywhere in the US, and have them install the lock.

Thanks!

I’m 100% with @Nathan Gesner on this, except I would never allow my PMs to offer up the deposit. I want more leverage the tenant does not damage the place once they get the free pass.

I’ve said it before, I found a free phone call goes a long ways. I’ve been known to call a few tenants once in a blew moon, and tell them to move the hell out or face our rath in court. I don’t like problems tenants, and I don’t like my employees wasting time with them either. 

I make it simple for them, I don’t mince words, I don’t get mad about it, but I shoot straight to the point. 

I got no problem telling someone they are always late (but never so late we can’t get them into court), or point out they clearly dislike living there with all their complaining, and the relationship needs to end. Move out by the end of the month, make sure the place is nice and clean, and we will all go our separate ways, and everyone’s happy. It’s never failed to work.

I guess if I would ever take cash for keys, I’d start with the above call, then offer cash for keys a few days before we filed for eviction, which I would make clear we are going to court when I made the cash for keys offer, and if all else failed, court. 

Connect with @Account Closed out of Fredericksburg.

I've been doing some short real estate videos for fun

https://www.youtube.com/watch?v=Hi-JyAdqZRQ

In this episode the seller walked away from a deal at closing, which we all know a contract is hardly worth enforcing because it cost to much in attorney and court fees. However, I have had deals fall through before, and I wanted to share how I save them vs just walking way. This technique in negotiation works really well for wholesalers, cash for home buyers, or anyone doing off market deals. Stay calm, educate the seller, and win the deal at the closing table!