All Forum Posts by: Allan Smith

That sounds extremely complicated. Oftentimes the best solution is the most simple one. Try zooming out to the base principles.

Agree with the above. But you pretty much need to show self employed income in a couple tax returns before you can get affordable loans again. Dscr is best bet in the meantime. Usually can't live in it with any of those loans. I've made money in real estate for 7 years now and still can't get o.o. loans.

Quote from @Noah Bacon:

 Mind blown that people didn't like it. Reddit is #1 forum in the world and that's the format they've landed on. But at any rate thank you for responding. I don't remember seeing a thread format on here so I wonder if the feedback was skewed.

Quote from @Andrew Postell:

@Allan Smith you are talking about a business coach?  Not a real estate investing coach?  

 I know I know, I'm asking a real estate forum for a business coach but I know lot's of other folks have businesses VERY similar to mine (development and property management). 

Anyone have ideas for how to find a business coach? It's like finding a dang spouse, ha! But at least there's dating apps if you're desperate. I don't know of a coach matchmaker app.

My current coach bumped rates to $1000/hr and I didn't feel I was able to extract that kind of value from our calls thus far.

Examples of issues I'd tackle with a coach:

- How to meet goals and tracking down the missing pieces to make them happen.

- Lots of leadership/management guidance (I'm mostly lost in the woods when it comes to managing my employees)

I find it very limiting that I can't reply to a particular post that someone did in a thread that somebody started. I can quote them and tag them, but then it's extremely disconnected, and could be two or three pages down from that one. So that person can see it, but then anybody else coming through to read won't really be able to follow the linear timeline.

I'll read a forum post with 75 replies, in the 4th or 5th reply will be great and I want to discuss further, but it is just a mess for anyone to keep track of replies to specific comments. There needs to be threads that can be expanded or contracted just like reddit.

As others have said there's no negotiation or "working with tenant." If anything offer her the option to move out and you won't charge a lease break fee. Otherwise, rent is due Jan 1st. Tenants who don't pay get evicted.

every convo with a tenant is training them. Right now she is training you by grooming you to think there's anything to "negotiate ".

I know some folks with a dozen or more short-term rentals and they are making a boat load doing it. But I don't like the seasonality and ebb and flow of those, so I only have a few mixed in with my long-term rentals. I definitely think they belong in any portfolio though, as they make so much money. I just wouldn't put all your eggs in that basket.

Quote from @John Morgan:

@Carlo D.

I want 6-10% CoC if I leverage because I know my internal return is WAY more than 6% or whatever I'm making off my down payment. Appreciation and principal pay down are huge over time. Plus I know I can raise rent which will help immensely since my mortgage is fixed for 15-30 years. So I can be patient with my low CoC returns the first couple years.

However, I'm paying cash for some cheaper homes next week I'm unable to get loans on because they're under 100k. So, I need much higher CoC returns because my $ and equity will be tied up in these properties for a long time. I can't tap the equity with cash out refis etc. So I'm getting around 20% CoC with these cheaper properties.

20% is great, how long have you owned those? If the real numbers still turn out to be 20% after a while then I would be interested in a deal like that. It seems most deals I've seen that have that much of a return on the proforma, there ends up being way more repairs and vacancy because it's crappy neighborhood with a crappy property manager. And no other managers want to deal with it.

Quote from @Tiia Hyrske:

Investment Info:

Other private money loan investment.

Cash invested: $50,000

REIT Loan @ 12%

 A lot of the time people use the term guarantee to basically mean it's not a profit share or equity share. It seems the other posters in this thread see guaranteed as a trigger word for them.

I borrow from private lenders for my projects and sometimes I give a set return, other times an equity share, but to be fair, I do try to avoid the word guaranteed. It's all about giving above average returns as a passive investment for people who want alternative options for their money.