All Forum Posts by: Terry Miller

Always have your last two years' tax returns, and the last several months (three to six) of banking statements available. Whether you are trying to get a loan for a new restaurant, or a new apartment building, you will need these. 

Consider paying down those low-limit credit cards to about 1-2% of the balance. Also consider getting a secured credit card or two to help build your credit profile.

Continue building your reserves for both your real estate business, and your emergency fund for your personal finances.

I have sent the contact info of scammers to the state attorney general.

You could incentivize them with a discount on the rent. Let's say your rent for that unit is $500. You raise it to $515, but offer the discounted rent of $500 each month a current renter's insurance policy is shown (paid monthly, quarterly, yearly). I used $15 because that is a little more than most premiums for these types of policies that I have seen.

Ask to see her latest award letter

(There was a cost-of-living increase that happened, and the notices were just in the mail today (12-04-17), so she even has a few more percent cushion!)

One thing I learned while doing my MBA was that many business situations don't have any hard-and-fast rules, and you simply do something that makes sense. Later, you may come to find that there are some specific laws/regulations/standard procedures, and then you would adjust accordingly.

@Robert James:

While I can see your logic in thinking 50:50, because it is two units, I can also see your logic in 33:67. I would go further on that line of thinking, though, and look at it in a breakdown based on square footage. 

You want to be featured on an episode of American Greed? (My cousin was an extra on an Unsolved Mysteries episode when he tagged along with his friend, this guy, to a casting call):

https://en.wikipedia.org/wiki/James_R._Black

http://www.imdb.com/name/nm0085316/

Out the name of the seller that stole your money and behaved unprofessionally. More people should expose bad behavior.

You should contact the highest-level person at HUD that you can, and as succinctly as possible state the facts of the situation.

The HOA forgot to pay the street taxes because the bills were sent to an old address.

In general, I believe there should be relatively few laws, but that they should be religiously adhered to.

If it was purchased legally, it was purchased legally.

If people who looked like them had been allowed to buy it before 1948, maybe it wouldn't have turned out so messed up? ;-/

As someone who has done things fighting racism/bigotry/etc., I actually think that the investor knew this would eventually get headlines, and wanted it exposed. On a smaller scale, I have used similar tactics, so I got the "vibe" that this was the case in this situation.

After reading your post, it seems that you have most of what you need already. The extra functionality that you are looking for is found by using Monte Carlo simulation on some of the inputs. Then, you would be able to look at the resulting range of different outputs and make your informed choice. Several third-party software developers make such add-on/plug-in packages for Excel.

EDIT: Be wary of any potential analyst doing this without using some type of Monte Carlo simulation or similar technique. That is a necessary tool for completing this. Also, the rate that any competent individual would command may be more than you are willing to spend.