All Forum Posts by: Taylor L.

Keep pushing forward! One big difference between unsuccessful and successful investors is that successful investors are willing to learn from missteps (as you have) and move on to the next one! The ups and downs are inevitable.

Social media can be a great way to build your brand and presence, but you need to be very careful when actually raising for deals. Make sure your securities attorney reviews your plan.

The best use for social media is to build relationships and get potentially interested investors into your funnel. Dig the well before you're thirsty.

@Mauricio Rauld, @Kim Lisa Taylor would be good folks to start with. They both put out quite a bit of high quality, free content. It's much cheaper to learn as much as you can from the free stuff put out by attorneys, then pay them to answer your specific questions!

I've done it. I actually just spent this weekend at an IRA-specific real estate investing event with Quincy Long from Quest Trust and a bunch of other great people.

My main issue with my SDIRA has been filing of 990-Ts. Finding a cpa who could handle it at a reasonable price (for one hour's worth of work) was difficult. Then actually shuffling of the paperwork was another headache! In the future I'll probably switch to an IRA investment strategy which doesn't incur UBIT.

Other - Sam Zell.

Deals or money first? This question comes up from time to time.

My answer: money. Find the money first. Or, at least have an actionable plan & network that you can leverage to get the money. Otherwise you run the risk of having a deal fall through & losing significant earnest money.

To be clear: Neither of these options is easy. It's hard to find deals and it's hard to find money. It's just better to avoid having deals fall through because you haven't found the money.

The first person I hired was an Executive Assistant. I only had a vague idea of what she would be doing at first, but I also had a commitment to find productive things for her to do in the long run, and to continually try to identify tasks I could hand off. My rule became that if I had to do something on a consistent basis that did not absolutely require me to do it, then I would find a way to hand it off.

I'd start with the things that are easiest to teach someone else to handle. 

The biggest change I'd make is to not wait so darn long to do it.

You'd need to look at the rate and usage. Not enough data to have any real insight at this point. Maybe your rate has gone up. Maybe the rate's the same, but you have a leak and usage has gone way up. Definitely worth digging into.

Given the option, I'd go no HOA for the reasons you outlined. Some HOAs can be big sticklers about too many cars. There are just too many unknowns when dealing with HOAs.

Where are you finding deals to evaluate? Are you looking at off-market properties, or just ones listed on the MLS?