All Forum Posts by: Scott Mac

Yes I remember reading about the cardboard box that Warren Buffett reads in underneath the freeway overpass.

I'm sure he lives in a pretty nice house himself - and not a cardboard box under any overpass.

Hi Ale,

Congratulations on your new job (and I hope you are enjoying it so far).

I’m sure your unique talents will be a benefit to all of us.

And I’m sure you’ll be successful at it.

Good Luck!

ps.

Don't forget to ask if you have an office mini-bar in the monthly budget....

One bedroom condo with a small balcony is going to attract a different type of renter than a three bedroom two bath SFH with a garage and a backyard.

So one of the things to consider is the structure and what type of renter you believe it will attract. 

Good Luck!

Hi Don,

I'm surprised you're not going to hand the business down to the next generation.

Good Luck!

The sellers asking $15,000 for the house, and you want to offer $20,000 to account for your time.

I don't understand Why you would pay someone else to account for your own time.

Could you explain that A little more possibly?

Good Luck!

Welcome to the world of Fred Mertz Mr Roper, and Mr Furley--full time stay at home landlording.

Good Luck!

Personally I dislike the look of the drop ceilings, and don't believe that It will attract the type of renter that I would like to have in the unit.

I know in some areas, there are a lot of these drop ceilings in older homes. 

I have never bought anything with a drop ceiling in it, but if I did I would factor into the price having the ceiling properly sealed up with wallboard, or having a Plaster repair service come in and replaster over the problem areas.

One thing I think about when I see the drop ceiling is whoever did that was cutting corners to save a buck.

It makes me wonder where else the corners were cut to save a buck that I'm not noticing immediately, and should that work have been done to a little bit higher standard.

 Good Luck!

HUD lists the service life on a carpet as six years.

It looks like they have been using this carpet In the apartment for 6 years.

In my thoughts, no matter what the condition was when they moved in, that carpet is used up.

Meaning, the wear and tear on it has been built into the rent over the years, and any damage to it right now is damage on a used up item, making the question of whether to charge it to them or not un-needed.

Just my 2 cents.

And you knew exactly what those marks were for!

I haven't seen that in long time.

Good Luck!

What exactly do you wanna learn?

There are so many developers who do so many different things in Los Angeles.

For instance you may run into a guy who does strip malls, or a guy who does skyscrapers, or someone who specializes in buying and flipping houses in Class C neighborhoods, or somebody who just owns apartments in very rough parts of town, etc...

Just being an open book, or a sponge of everything is sort of like being a leaf in the wind.

If you have not read Anthony Robbins book awaken the giant within, you might want to think about doing that, and doing the written exercises in the book.

If you choose to do this, it may help you zero in more precisely on what you want to do.

Another good read you might want to think about if you have not already read it is Rich Dad Poor Dad.

Both of these things seem like good foundational stuff you might get a benefit from-possibly helping you to be more granular in your choice of what to learn.

Also this ((( business ))) takes money, you'll need to have enough for the down payments and working capital, and Etc...

Good Luck!