All Forum Posts by: Seyi A.

@Dulce Beltran

Tesla does actually have a pretty good warranty their batteries. For the model 3, from Tesla’s website (https://www.tesla.com/support/vehicle-warranty)

Model 3 - 8 years or 100,000 miles, whichever comes first, with minimum 70% retention of Battery capacity over the warranty period.

Model 3 with Long-Range Battery - 8 years or 120,000 miles, whichever comes first, with minimum 70% retention of Battery capacity over the warranty period.

I was in a similar position last year, and I decided to go with the Long Range version. I don’t actually drive much for my day job or life (I live in Chicago which has excellent public transport), but I’ve found having a car invaluable for “Driving for Dollars”. If you’ve set up an entity for your real estate investing (check with your CPA), you can lease the car to that entity for the miles driven in support of that business.

Also, for the days I’m not using the car, I list it on Turo (AirBnB for cars). In the past month, I’ve made ~$1000 from Turo net of their fees and additional insurance (provided by Turo). Yes, it is a tad risky loaning your car to complete strangers, but I always do my due diligence on the renters AND the beauty of the Model 3 (or any Tesla) is that you can always track where it is and selectively disable certain features (like autopilot, driving above 70 mph, etc). I typically put the car into “Valet Mode” which limits many of the higher end features.

All in all, I love the car and, between the real estate side gig and Turo, it is more than paying for itself.

Hi BP Fam,

Does anyone have experience setting up TD Ameritrade's standardized flexible Qualified Retirement Plan and using that for a ROBS (Rollover for Business Startups) strategy?  If not the latter, then do you know if the standard plan is flexible enough to allow a ROBS (which would entail issuing shares from the C-Corp sponsoring the 401k and using the 401k funds to purchase said shares)?  Thanks in advance.

Kind Rgds

Seyi

Is growing a beard a strategy? This article and Brandon Turner would argue yes.

https://www.syfy.com/syfywire/a-very-serious-cultural-study-on-beards-and-which-dudes-look-hotter-with-them?__source=Blastr_Vayner_syfy_Facebook&utm_source=facebook&utm_medium=social&utm_campaign=culturalstudybeards&utm_term=paid&utm_content=link_ad

Got it, thanks @Weston Couch.  A couple questions: 

1. Should the "Holding" trust be revocable or irrevocable?
2. Can a trust own a C- or S-Corp too (or LLC taxed as C/S-Corp)?

Hi BP fam,

Could someone outline for me what the pros and cons are of using an anonymous trust as a holding company for long-term buy & holds/rentals vs a WY LLC (with a nominee manager) ? Thanks in advance.

Thank you @Lance Lvovsky and @Taylor L.

@Jonathan Klemm sage advice, thank you!

Can anyone outline what regulations/laws apply to bringing in international investors? For example, do the same criteria re accredited vs non-accredited investors apply?

Also, does anyone have a recommendation for (SEC?) counsel with experience in this area? Many thanks in advance.

Thank you.

Thanks all for the feedback.  Any recommendations for which firm(s) to approach for a consultation?