All Forum Posts by: Peter Sanchez

This is a terrible deal.  If you sold half your properties, you wouldn't need a partner for cash.  You could do all the work and keep all the money.  So why are you giving him half your properties and still doing all the work on the new ones for half the money?

For all the reasons above, this is HORRIBLE idea.  When you say yes to someone, you say yes to all their problems.  He has no job, no money, bad credit, and is about to get scammed by a real estate guru.  Those are his problems.  When you co-sign, now all those things are your problems too because you WILL have to pay it back when he can't. 

They want you to co-sign a loan for him because lenders/banks, who loan money for a living, don't think he can pay it back, so they want you to pay it back for him. If professionals won't lend him money, why do you want to do it?  (co-signing is the same as lending him money because they will come after you and you will be trying to get him to pay you back, so if you don't want to lend it him, don't co-sign)

As the great Charlie Munger once said, "if you mix raisins in with turds, you're still eating turds."  

Why are you even discussing this?  If a casual acquaintance told you to stop buying your shampoo and laundry detergent from Costco and buy a no-name version from him that you never heard of for 4x the price, would you do it?  Then why would you want to be on the other end of this stupid idea.  I had an acquaintance in law school try to loop people into this to be in downline.  Everyone avoided him after 2 weeks and when he gave up on this stupid idea the taint on him remains.  

Do you think this is a good idea?  Lets assume you can make $1000 a month doing Uber or Lyft.  

According to google, the average "active" distributor makes $200 a month. That doesn't include all the people who flunk out and don't make anything.  If success to you looks like alienating all your family and friends to make $200 a month until you run out of friends and family to harrass and you go to $0 a month, then go for it.  

There was a court case recently where a monkey took a selfie.  The guy who owned the camera tried to sue people using the viral image without his permission.  The Court said that the copyright belongs to the photographer (the monkey) so he had no right to use the image.  

If she is in the photos, she obviously didn't take them and has no control of how they are used. Why are you messaging her?  She couldn't possibly do anything about it even if she agreed with you. 

I think it would depend what the felony was.  In the state where I used to live someone I met had a felony conviction...for rolling back the miles on an odometer on a car he sold.  A DUI is a felony too.  

I wouldn't advertise "no felonies" though because if you have to specify that in your listing they might think it's not a safe area since felons want to live there.  

I think they are very comfortable, but they hold heat in.  It's probably fine for people who feel cold all the time, but I don't like it. 

If someone you barely knew said "I don't have $2500 to pay my rent this month, will you give me your money to pay my rent?" What would you say to that?  What if they said, "I don't have a place to stay, you don't know me very well, but what if you let me live in your property without paying you?"  What would you say to that? Just because they are already living there vs asking to live there rent free, what is the difference.  

That's because you live in Florida.  As someone who used to work in my dad's construction business in NY I can tell you that when you have three layers of roofing and a foot an half of snow sitting for weeks on a roof on an older house, weight can become a big problem. 

 Most "QIs" are not required to be licensed and there is an pretty epic thread on biggerpockets about a QI that took people's money and...well...see for yourself.  

https://www.biggerpockets.com/forums/104/topics/474581-qualified-intermediary-scam

Its not that uncommon a story: 

https://www.summitdaily.com/news/daniels-alleged-fraud-common-in-unregulated-industry/

So although a lawyer isn't required, the more people you can have looking after your interests (and have insurance so you can sue them if they screw up) the better.