All Forum Posts by: Louis Kelley

There is another side to this called appreciation. Yes you may be paying more in the mortgage vs your rent but at the end of the day, you're paying yourself. You can pay down the mortgage and cash out to purchase more; you can live there for a year and then move and rent out both units; you can live there in your own place and sell in a few years with some appreciation.  Lots of different ways to approach this but don't come in expecting to hit home runs. Singles and doubles win ball games. Home runs can make you the game winner or the black sheep.

"The building is full of mostly great people, but there was one fellow that always smelled like pot."

Menace to society that guy...Trust me, there are worst things out there. But if you want bad Karma, keep the deposit.

@ Nick Harvey, I disagree with you. Emailing and texting people in business I personally feel is weak and hinders relationships. If you need to tell me bad news, tell me to my face or talk with me. I can respect that. 

@ alexander - I used to have the problem as well. I'd always say yes to projects etc.. I had to learn to say no and I learned through practice. Instead of immediately responding (as Nick stated above) step back, consider it (recognizing that you'd be paying more money to individual of poor character) and call him back and say NO - i've decided to move in a different direction but if anything changes I will give you a call.

Well we all experience Buyer's remorse at some point. You've just said yourself that you're learning more from youtube videos. My question would be why didn't you watch the videos before dropping the $7K? The second issue is that if you're concerned about the quality of the information he is providing you why wouldn't you tell the man what you need him to give you (my apologies if you're already explained that your learning curve was x & now its Y).  I would think that someone who delivers this type of material to multiple students has a written curriculum that he follows and charts you along that path. If you started with him at a 1st grade level but because of self training are ready for highschool or college, how would he know?

The last question I would have is that if you've advanced and are ready to make it happen, why aren't you closing deals (I don't know your experience level)? For me personally, I'm just starting out and can afford to navigate the waters without a mentor. If/when I move to commercial, I'm sure I'll be connecting with people that are smarter than me/ more experience to get me on the right path.

@Account Closed You seem fairly negative of this relationship/service. I'm curious, has the gentleman not delivered as promised or are you feeling a little buyer's remorse? What could be better about the situation (besides you making back the $7K).

@Shawn Ackerman Sir, I feel your pain. When I first decided to take the plunge I found a duplex that had been rehabbed and was in my price range. I also found 2 other properties that I was interested in. Ended up putting all my focus into the duplex and missed out on the other deals because I didn't want too many irons in the fire for my first purchase. Lo and behold the duplex deal never materializes and I ended up missing out on everything.  Instead of listening to the advice I'd read from others I decided to just have one deal on the table and well...lesson learned. Good luck in your endeavors.

 They loan aspect of the VUL or WL policy is usually the fringe benefit not the selling point.

@Mark F.  - First thing you should always remember is that insurance is a business - a very well run and profitable business. They don't give you anything for free. Whole life is a great way to get tax deferred growth on taxable assets.  Cash Value is not immediate it is a deferred growth (why I suggest getting a hypothetical). Rates of return are at market, anybody offering you 7 in today's market and I see red flags. 

on the surface, I think it may be a good strategy for someone who has a few hundred K in the bank, that needs insurance and wants tax deferred growth.  The downsides typically are that you're maxed on contributions and loans before it becomes a MEC and loses its tax advantages. if you're even remotely interested in something like this, speak with a qualified Financial Planner. 

Would I do it? Probably not as I would prefer more flexibility in leveraging my assets. However I also don't have more $ than time. My portfolio is still small at 7 units.

Turned the big 4.0 last year and started with a SFR. We now have a total of 3 duplexes and the SFR. Wish I had started sooner but I was so focused on my 9-5 that I didn't think about my own future.

@Lenny Shwartzundefined - Patience is easy to say hard to do.  I'm an old sales guy and I'm trying to teach myself that deals for the sake of deals is not always a good deal!! Its very hard for me to be patient which is why we have 3 duplexes now!!

@Ecook - luckily this failure to review wont kill the dream. it has however made me aware to be more thorough in my research. Now I'd rather lose a deal because I took my time rather than run to a deal and trip over my own incompetence. Happy trails