All Forum Posts by: Alex Talcott

1) Depending on how much business you think you might do in the foreseeable future, I can think about a lawyer referral.

2) Sure

3) Time-sucks; don't lose track of your sense of your hourly wage

Dunno, but I'll buy in OKC -- Was just mapping out a trip for Q1 or 2, '23

See about getting your foot in the door with someone in the biz who'll take a small amount of money as a debt product -- a promissory note or other arrangement -- and work your way up in trust or other add-value work to have a space in a deal with them on the equity side eventually.

I've done this successfully with junior and new people I care about supporting and helping get going.

"It can't possibly be this hard" is an infuriating feeling. "I feel like I'm taking crazy pills!"--Will Ferrell in Zoolander

Most lenders are limited by 1) their products, 2) their non-understanding of what can be done totally compliantly (if they don't have a form for it, they think it's illegal), 3) their unwillingness or inability to talk themselves out of business in the short-term but building their long-term credibility by educating you and pointing you in the right direction. So in my opinion, what you've experienced is a lack of appreciation or non-communication that those individual lender employees are just not financially incentivized to problem-solve with you.

The best bankers and other debt officers are the ones who don't just open whatever account or apply for whatever product you ask for, but who ask about the ends and then reverse-engineer the means.

You're probably best off with a lawyer who won't mind diving into the language of your current business loan instrument. They/we are used to explaining to banks what their job is (I know that sounds so condescending).

You get to decide whether it's even a "How do I" question to any extent.

I don't like, and I don't think I'm good at, forecasting-calculating ARV.

I work with various partners who not only can do it, they can't help but underwrite deals and live in spreadsheets. It's their thing! 

I have a professional opinion on this, as a lawyer-investor in NC. You're welcome to message me.

Drive around is the simple way--albeit less cost-effective than some months ago, with gas prices.

If you don't have partners or investors, you can likely cut it tighter and assess your personal finance situation, as opposed to treating the property as a business in a vacuum (especially when it's already not a standalone investment, with a home-for-you enjoyment factor).

You can think about all your assets on a continuum of liquidity.

Are you active with properties in McHenry? I was just looking yesterday at the county's Visit rebrand as "Naturally McH"

I'd be glad to chat with you on some of my thoughts/recommendations, including as an interested buyer in Tampa! You're welcome to message me any time.