All Forum Posts by: Taylor L.

I'm getting the same error on a MacBook Air but it seems to work on a Pixel.

What's the business plan? How do you intend to add value? 

It's nice to have owner financing available, but you'll need a way to create value in the deal as well.

Owners of LLCs do take profits as distributions. Your business needs to be a separate entity from you, both in form and function. You wouldn't use the business's capital to pay personal expenses veiled as business purchases.

My observation is that Jake & Gino seem to do the best in terms of getting their students to network & build relationships with one another, often leading to partnerships & deals. 

As Greg said, it'll be difficult because a liquid market for this type of investment doesn't really exist. 

There's also the issue that someone buying into this deal would be a small minority party amongst family that is engaged in business together. Not an ideal situation for managing an investment or making quick/difficult decisions.

If I were in this position I would try to get the rest of the group to either buy me out or sell the property and move along.

Sounds like it's time to shop for insurance providers. What state are you in? Have you spoken with any other insurance companies?

I agree. Expecting rates to come down this year is essentially wishful thinking. The data does not point in that direction.

It's great that you're thinking about this. There are a lot of paths to success in real estate. There is no single best answer. 

If you're a college track type of person, pick a major that has strong demand for new employees, pays well out of the gate, and which you think you'd be interested in. A lot of investors will hate on college, but statistically it is still a good value proposition if you pick the right major and work hard.

I recommend everyone read How to Win Friends and Influence People, particularly young men going out into the world for the first time. I wish someone would have handed me that book when I was 18. Your ability to succeed in life will be a direct result of your ability to build relationships with and influence others. 

Everyone has ups and downs in the business. There are days when everything is clicking, and there are days when nothing seems to want to work. The important thing is that we keep showing up.

How are these properties coming across your desk? If you're fishing in an empty pond, you're not going to land any fish.

Years ago when I started, the ratio was essentially 100:1 - underwrite 100 properties to find one that you'd want to buy. As the market matured, that number increased to several hundred to one.

Are you just looking at the asking price and saying it won't work, or are you floating offers that work with your numbers? Are you building relationships with brokers to improve deal flow?

Buyer's agents are pretty uncommon in the Commercial space. Any commission they earn will have to be added to the purchase price. This broker is looking to protect their interests and it's understandable. Are you willing to pay extra for the broker's commission? Are you able to get out of the agreement if it's not working out?

It's nice that they're willing to help with underwriting, but at the end of the day it'll be your problem if the underwriting is wrong. See if you can find a class on underwriting as a start. If you can get an experienced investor on your team as well that would be great.