All Forum Posts by: Account Closed

The large apartment complex where I live charges an extra $15 per month per pet and $20 per month for assigned parking.

At one point, they sold space in one of their spare buildings for storage, but they're no longer offering that service.

Google the name of the city and look at its Wikipedia page, the local chamber of commerce page, and whatever else comes back.

Once I decided to retire in Florida, I then had to decide where in Florida. Some TV and radio stations stream their local news over the web. I got a feel for what life might be like based on the stories that made the local news. 

Back in the 1990s, Long-Term Capital Management was a hedge fund founded by PHDs, some of whom were Nobel Laureates. They believed they had found a way to eliminate financial market risk and became high leveraged, borrowing $40 for ever $1 of capital (meaning if the market value of their holdings declined 2.5%, they were bankrupt).  They made outsized returns for three years. Their downfall is chronicled in the best seller When Genius Failed. 

I'm all thumbs, so the BRRRR strategy won't work for me. But if you're good at rehabbing and the numbers work out, then you might want to consider it.

https://www.biggerpockets.com/renewsblog/brrrr-buyrehabrentrefinancerepeatprimer/

Although this sounds philosophical, we live on the hard right edge of history and can see where we are today related to the past. We also live on the hard left edge of eternity and I have no idea what's going to happen next. All I can do is postulate various scenarios about what might happen and then determine an appropriate all-weather strategy.

(1) If the market continues to take the escalator up, what would I do?

(2) If the market decides to take the elevator down, what would I do?

Could a BRRRR strategy be made to work under either outcome?

Contingency planning (stress testing and mental rehearsal).

When I bought my personal residence in the 1980s, for example, my budget was tight and I forsook earthquake insurance (most Californians don't have it). A year later, a large earthquake didn't damage my house, but it made me realize I might lose everything if one did. I then got the insurance and also went through the painful process of increasing my cash reserves in case anything else on my unthinkables list should happen. For example, if I should lose my job (as a homeowner, I was both the landlord and tenant), how would I pay the mortgage?

https://www.thebalance.com/how-much-should-i-have-in-my-emergency-fund-2388353

FYI -- Out of an abundance of caution, I got a PIN from the IRS as part of its pilot program to expand the offering to a larger base.

https://www.irs.gov/identity-theft-fraud-scams/identity-protection-pin-pilot-program

I filed my personal tax return using TurboTax. The software asks if a PIN is needed and provides a screen. TurboTax also lets me know by email when the IRS accepts my return.

Although I've never had my identity stolen (as far as I know), I can't file my return early because the K-1 forms arrive toward the end of March.  The PIN gives me peace of mind.

A few months ago, Nextdoor started showing properties for sale.  The properties appear to be MSL from all over the area, but the agents are local to the neighborhood. Some people mention they are realtors in their profile.  I suppose investors could take a passive approach and mention in their profile they were looking for properties to buy.  A proactive approach (contacting other members unsolicited) might be considered spam and result in termination from Nextdoor.

Since I have had no involvement with the real estate feature, I have no opinion about it.  I did, however, link up with one of my neighbors who posted he was a realtor.

Its web site has a FAQ item on how they pick their real estate opportunities. Other Reg A+ sites I'm familiar with take a similar approach. With crowdfunding, you're betting on the jockeys finding the right horses to ride.

The basics of financial due diligence:

https://www.locavesting.com/investing/before-you-invest-the-basics-of-financial-due-diligence/

Do the police ever use undercover officers to try to buy alcohol and tobacco with invalid identification?

California uses this approach. The stores pay stiff fines and their names get listed in the paper. I've known sales clerks who've been fired for selling alcohol to an underage officer. I've seen people (I presume they were undercover officers) try to buy alcohol using a credit card and expired drivers license. Some stores refuse to sell broken six packs, since underage drinkers often can't afford a complete six pack.  Of course, all of this was in nice middle class neighborhoods.

If the liquor store feels enough heat, it will make sure it plays by the rules so that it can stay in business. I realize the rules are easy to get around, as when an adult buys a controlled substance for an underage accomplice. Crooks learn quickly.  Perhaps the store is playing by the rules because it has already been burned.

Neighborhood disclosure rules might vary by state.

In California, I had to disclose everything, including any homes on the street that might be under renovation (some people don't like the sounds of hammers and saws and cement trucks). When I said I knew of a house being renovated on the next street over, the realtor checked with her laywers and determined no disclosure was necessary.

I had to disclose the airport noise (per city ordinance). I had to pay $150 for a Natural Hazard Disclosure Report that mentioned an "industrial site" less than a quarter of a mile away. When I asked about it, I was told there use to be a gas station at the end of the street and the underground tanks might have leaked gasoline into the soil.

The rule used by realtors is disclose, disclose, disclose.