All Forum Posts by: Alice K.

@Tim McGarvey - Welcome! I work in the city as well and if you have any questions, feel free to send over a message. 

What sort of deals are you looking to do? Directly in the city, East Bay, or Peninsula? 

Also, @Mark Pedroza - I've never heard of Sean Walton. Does he usually pitch or are they just general info?

I've been to quite a few gatherings and recommend @Ryder Meehan / @J. Martin's groups.

Cheers,

Thanks for the share. 

Reminds me that my life is "luxury" compared to others and I should be grateful.

At 62, someone please hit me (lightly / figuratively, ha) if I do anything like this. I assume my energy will be down >50% of what I am today. 

A coworker of mine commutes Petaluma --> SF.

2 hours each way... He wanted a sizable living space, but I believe he should consider the cost since time is our most valuable asset. 

I have been wondering this for 2 months now!
Sitting on funds and have scanned the market like a crazy ex obsessed with some past lover for far too long... The ROI on 75% of items I've seen lately has been weak with all this appreciation in the places I invest in. (Maybe I need to lower my standards but... I figure I shouldn't be too hot to buy.)

Atm, I feel similar to @Greg Scott-- Just sitting on it (non-401k funds that is...)

 Losing money due to inflation this year but I will never forget when I was a younger person and all the more senior employees I was around were panicking in because their stocks tanked... I have some floating in stocks but not all.

@Thomas Rutkowski - How do you source folks to lend to? /Qualify folks? I've heard this and that from hard money people but just now looking into that if I give up on my own purchase.

Originally posted by @Account Closed:

@Jay Hinrichs,

No argument there. There's a million ways to make a million bucks. I've seen individuals, who own successful biz, tend to park their money in real estate one way or another. There's a family here that gives each of their kids a Jack in the Box store which generates about $90k/year net in cash flow. If the kids want to scale up and own more stores, they're more than welcome to do it. 

If everything goes accordingly, We'll pay-off our $180k mortgage next year. There goes more dead equity on another million dollar pad in the Bay. Who says one has to leverage to the hilt? LOL!

Just bought my wife a new Acura MDX as she didn't like the look of the Tesla Model X. Guess what I'm getting for myself? This will be my new ride next month. What's the point of making money and not enjoying it? I guess I'm following your footsteps Jay. LOL!

@Alice K., more than happy to give you a ride in this amazing fast and fun car. Just need to come up with a cool license plate for it. As of now, I have a couple:

I LOVE (heart shape) REI

THX2REI

BITE ME (I would think this one is taken)  ;)

That is SUCH an awesome car. 

I spent last night thinking about this for you... 

Here is my conclusion: Make it as complicated as possible.

That way people can't remember your plate. Although, you're in a safe location and probably will have some smooth rides in that car. 

I've been in 2 hit and runs--

Raced after the first drunk guy in Daly City and lost to his basic V6 (in a tiny, sad prius). Was too blind to get the plate.

The second round I chased after this guy and his girlfriend and barely got it by a miracle thanks to my brother on bluetooth at the moment. 

Some ideas: 

• Q's are very hard to read on them, as they look like zeros or O's
• Combine m and n. Mnmnnm
  

Hahaha

If this isn't stuck in some sort of probate hell, I would rent the rooms out and do some sort of payment plan with the creditors. Another idea is to take a loan out against it if there is equity and pay off the debt that has a higher interest rate (assuming you can still afford those payments).

So so sorry for your loss :( Consolidating debt is a good idea. Do you have more details of what type of debt we're talking about? Eg: is there equity in the home? Is it liens? Misc credit debt?

@Llewelyn A. - Thank you so much for your story. This is print-worthy and should be placed on my wall. I have a fellow tech friend who's dad was also a doctor/psychiatrist in NY making 200-300k about as well. They lived in a wonderful location on the outskirts of town and his father owned a brownstone.

He eventually sold the brownstone for whatever reason...

Some time later, he was approached by "business men" with an idea.

He invested 40, then 50, then the bulk of his wealth in this "hospital business" idea. 

Turned out it was fraud and the "businessmen" were stealing the money / squandering it... Everything was a lie... They declared bankruptcy and were basically off the hook

He was fleeced of most of his wealth and ended up having a very (very) bad breakdown that impacted his health. He tried to sue them for money but they were dry by the time it was his turn.

He is much better but he is 80 and still has to work... Had he kept his NY brownstone, perhaps he would at least not need to pay rent / work quite as hard.

Thanks for the many lessons in your post!!

@Account Closed - Really appreciate the look back and honest partnership thoughts (I also laughed out loud as you're one of the only people to admit these things. "Finally, an honest man!") 

The 1996 story really resonates as often I use far too simple "is it cheaper to rent?" / other short-sighted questions when assessing property. I often get so caught up in the nitty gritty details that I forget the big picture many years from now. 

Also, had no idea you were enterprising all while in college too selling. Your sister and you are smart; this must be a genetic thing in your family :)

Your words of wisdom have helped me time and time again. Although I haven't been able to lock another property as of late (just fell out of contract, but in hindsight, probably good as it was overpriced for the location), it has inspired me to continue to make offers, analyze deals, and take action. Thank you :)

I would just partner with your dad if you don't want to wait for the money to "season" as @Melvin List mentioned.

You can chat with any lender, and they're all incredibly helpful. 

Some other thoughts / ideas:

1) Call a few other lenders. @Chris Mason is awesome. 

2) Since it's your dad, he could perhaps just cosign? (I mean sounds like he wants to support rather than be involved.)

3) Another idea, form an LLC (ripoff in CA) where he is a limited partner (so he just provides the funds). Although, that might increase the interest rate as well / some banks don't do LLCs.

4) I wouldn't go the hard money route in your situation. 

Cheers,

@Brie Schmidt - Shark diving?! You are a badass. Haha. They are the very reason I stay out of the Pacific.

I did see whales the other day so should be very fun!

Would love to stay afloat of any alcohol / land-activities!