All Forum Posts by: Terrell Garren

All Those Celebrities Pushing Crypto Are Not So Vocal Now – DNyuz

Opinion | Crashing Crypto: Is This Time Different? - The New York Times (nytimes.com)

....In any case, as we look forward, the value of cryptocurrencies will have to rest on their underlying economic uses, which are …

Well, that’s just the thing. I’ve heard many discussions in which crypto supporters have been asked exactly what economic role crypto can play that isn’t more easily and cheaply achieved through other means — debit cards, Venmo, etc. Other than illegal transactions, in which crypto may sometimes offer anonymity, I have yet to hear a coherent answer.

As it is, cryptocurrencies play almost no role in economic transactions other than speculation in crypto markets themselves. And if your answer is “give it time,” you should bear in mind that Bitcoin has been around since 2009, which makes it ancient by tech standards; Apple introduced the iPad in 2010. If crypto was going to replace conventional money as a medium of exchange — a means of payment — surely we should have seen some signs of that happening by now. Just try paying for your groceries or other everyday goods using Bitcoin. It’s nearly impossible.

And then there’s El Salvador, which tried to force the process by making Bitcoin legal tender and heavily promoting and subsidizing its use, in an attempt to make it a true medium of exchange. All indications are that the experiment has been an abject failure.

But can crypto really have become such a big deal without any clear economic rationale other than pure speculation? Can it really be just a bubble inflated by FOMO, fear of missing out? Those who question crypto’s purpose are constantly confronted with the argument that the sheer scale of the industry — at their peak, crypto assets were worth almost $3 trillion — and the amount of money true believers have made along the way proves the skeptics wrong. Can we, the public, really be that foolish and gullible?

After the first few years, I never found self PM to be difficult, especially compared to a W2 job. Learn to select good tenants, build a network of trusted professionals and skilled trades, build efficient processes, don't avoid difficult decisions. I probably spend 10 hours a month managing 25 SFH rentals. I don't have to worry about a professional PM doing shoddy maintenance or selecting a tenant that changes their Street Glide oil in my living room. Rental income funds the business and cash flows life. Appreciation builds generational wealth.

Binance CEO says retail traders should be reimbursed first from Luna crash even though his exchange's investment in Luna is wiped out | Fortune

In 2018, Binance put $3 million into Luna and received 15 million tokens in return. At Luna’s price peak in April, those tokens were worth $1.6 billion, Binance’s CEO Changpeng Zhao said in a Monday tweet. At Luna’s price now, the tokens are worth about $2,391.

If the businesses were a pawn shop and cardio surgery, I would have different LLCs. For real estate and flips, simple/low-cost single LLC is better. IMO.

Local newspaper, county courthouse, local auction websites, auction.com, attorney websites that handle area foreclosures, Fannie Mae REO Houses For Sale | HomePath, HUD Homes for Sale | Search HUD Homes Listings | Bid on HUD Homes (hudhomestore.gov)

+1 on very fair price.

I'll have to give this some thought.  Who should I have confidence in - the former chair of the Federal Reserve or the BiggerPockets Bitcoin shill?

Bitcoin 'not going to take over as an alternative form of money': Ben Bernanke - MarketWatch

There are a lot more ways this can go wrong than go right. I tried it once with a tenant in need.  Tenant did not put mud under backerboard correctly, poorly grouted tile, unclogged a bathtub by driving holes into the P trap and having it drain to crawl space, poor painting, etc.  The situation and relationship quickly deteriorated. Best to make clean breaks.