All Forum Posts by: Account Closed

True. I agree with Michaela. Sharing the load may sound great up front, but something unexpected almost always comes up. Just ask any failed couple who decided to jointly buy a house before they committed to each other with a marriage. I rest my case.

I wanted to share this one because it's a hoot. So, it was an ad I asked for more info about here through Bigger Pockets. The ad promoted the World Wide Who's Who Branding scheme. When the lady called me today for my interview, I entertained the conversation but also told her I felt it was an information-gathering scheme. I let her talk and after a little generic conversation she was happy to tell me she would approve my application for the program since she could clearly tell I'm successful and going places. All I had to do was simply choose between the Platinum $900+ Lifetime package or the Gold $700+ 5-year package. I told her I would rather speak with someone already in the program and see how they felt about it; if they were happy they shelled out a grand to be in the Who's Who catalog. Naturally, she would not provide that, nor entertain the idea of having any of them contact me. When I continued to say no, she then brought up the $199 One-Year membership that they normally only offer for Non-Profits; she would extend it to me because she felt I am successful. I told her that I know of lots of scams like this and I would like to consult with my lawyer. She said she was not sure how my lawyer could help me if he was not a member; that she was the best resource I would need, that the program includes 600,000 high-profile people from 50+ countries including doctors, lawyers, business owners, etc... To which I replied that my lawyer is a high-profile stud on the New York Bar and if he was not in the program, then perhaps he has friends who are. Anyone else enjoy a similar experience with these "Who's Who" folks? Needless to say, until someone from the catalog comes and tells me it was the greatest decision ever and they can't imagine life without it, I will be keeping my money.

Great job, Shellhamers. Sounds like anyone would be well blessed to have you for landlords. Merry Christmas! As for the replacement, step it up a little, but not too much. If you know you'll replace the other appliances when the current renter leaves at the end of their lease, or future lease(s), then yes, upgrade to stainless. But if the other appliances all have lots of mileage left, then just replace in kind and maintain the appeal of a symbiotic matching kitchen.

@DavidNolan Please contact me. I have advisor questions for you.

That makes sense. I could see, being in their shoes, that they would want to keep you at "arm's length" from the IRS, lest you unintentionally say something, albeit well-intentioned, that raises a red flag. Even though the IRS probably won't find anything wrong, Guidant probably just doesn't want the hassle and additional paperwork an IRS inquiry might cause. But I also see how you, the investor would lose your warm and fuzzies when Guidant's saying, "Stand aside, we've got this." 

Anyone else want to weigh in on this? A ROBS sounds like a great way to further diversify my retirement investments.

Totals go at the top. It's non-standard, yes I know, but it helps give an overall snapshot before scrolling.

Hey Garry, how "long distance" are you considering? I am looking for investors for an overseas condo unit I acquired.

I have a condo property in a major metro city I purchased presale in 2014. I have invested $50k and the final payment of $150k is due this June, 2016. I formed a C-Corp and am working a 503(b) offering to raise funds to make this final payment. The cut off date is April 30th. The property goes live in 2019 with a conservative rental income projection of $2,000 per month after all expenses. This is a long-term buy-and-hold property. Without going into too much detail about the property itself or it's location, what rate of return would you need to see as an investor in order to feel enticed to buy in? And would you be more inclined to purchase bonds or dividend-producing stock?

I like the concept, Scott. Would you please elaborate further? The dynamics of the second lien still elude me.