All Forum Posts by: Alan Polaski

@Bryan Johnson congratulations! I hope to be on your heals soon.

@Charles Carillo

Yes, I will definitely check with the inspectors prior to anything, probably in my due diligence and contingencies. I was judging hoping somebody could say yay or nay off the top of their heads from experience.

Thx for the replies.

For a rehab I’m analyzing, I’m considering to move the furnace. So far, the best place I’ve come up with to put it is in a bedroom closet.

Is this in violation of any codes, or pose any other safety concern I’m overlooking?

And... since it was Joel, I'll take credit for this quote:

"I've never lost any money.  I have however invested heavily in my education." - Alan Polaski

I'm still interested in other peoples favor quotes!  Please post them! 

OK, I'm back for a follow up.  Credit goes to Joel Sherlock on BP RE podcast #214.  I was off a little bit on exactly what he said.  It was:

"I've never made any mistakes, I've just invested heavily in my education." - Joel Sherlock

I've been going on a podcast re-listen on 2x speed to find it.  It has been a good refresher to re-listen to some of these podcasts and hit a bunch of those tidbits again.  Well worth it.

The self directed IRA, as mentioned above, was what came to mind first.

Also, I understand that the contribution amounts of a Roth IRA (not the growth from IRA investments) can be withdrawn tax and penalty free. I think there is a seasoning period on that though (2 years maybe), so that may not solve your immediate problem. But something to think about for the near future. I'm not a CPA/tax/money pro, so please, any of those real profesionals, please jump in there and either confirm or deny my thoughts.

@Shaun Weekes I was just thinking about something like this as an note type investment earlier today.  My thought was to work with my realtor, and if he has another buyer that can't quality for a house that I can, then I buy it out in front of them.  Then rent to own option it to them for a higher interest rate,  and I can get the difference in interest. 

Where you say, "It's very illegal to have someone buy the home with the intentions of someone else living in it.", is that just CA, or nation wide for Fanae Mae, etc?

@Ross 

@Ross Kalmbach Thanks for the try, but it wasn't Paul Morris on 274.  The quote deffinately wasn't part of the title or a major part of the show.  I should have mentioned that I did the google search for it without success.  Since then, I did a little more intensive search. The BP RE pod cast started publishing the transcript on episode 257 from what I can tell, so the show must have been pre show 257. Google finds specific text in the transcripts very proficiently as one would expect.

Now I'm re-listening to the pre-257 shows on 2x speed to try to find it.  Still open to some help and looking for other great quotes.

@Ross 

@Ross Kalmbach Thanks for the try, but it wasn't Paul Morris on 274.  The quote deffinately wasn't part of the title or a major part of the show.  I should have mentioned that I did the google search for it without success.  Since then, I did a little more intensive search. The BP RE pod cast started publishing the transcript on episode 257 from what I can tell, so the show must have been pre show 257. Google finds specific text in the transcripts very proficiently as one would expect.

Now I'm re-listening to the pre-257 shows on 2x speed to try to find it.  Still open to some help and looking for other great quotes.

@Taylor L. Yes, Tony has a lot of good ones, just like Jim Rohn.

To add to my original post, the speaker initially said he never lost money as part of a joke and came up with the heavy education part after that.

There was also another good quote in one of the recent podcast, now I think about it, but I never wrote it down either.