All Forum Posts by: Chris Thomas

@Jack Orthman

Your CPA sounds like a slimeball👎

From what I’ve always known a trust is effectively a will on steroids and allows you to have far more co trip over your estate. For instance, let’s say you have $1MM life insurance policy and you pass with the beneficiary being your young kid. Under a will, the day they hit 18 they get $1MM👎. With a trust you can say nope, they get $1MM at age 40 or 500k at 40 and 500k at 50 etc…. Much better instrument for insuring what needs to happen happens. I’ve been quoted about 4K for one.

@Henry Clark

Very good questions sir! Obviously all of them have different answers based up one where you’re at. Right now it appears leveraging commercial contractors and construction methods may make a bit more sense than trying to build or flip a traditional stick. I really like the idea of building purpose built rental properties to my design/specs with a trusted contractor and lender so they can be repeated over and over again. I’ve been down the road of unknowns buying and renovating an older home. It was fine, but if the plan is to hold for the long term, it’s seems building from scratch puts me in a better position as lo g as the numbers work🤔

Right now, in my market, it really seems to be a toss up for me.... what say you?

I am also looking to do a bit in Louisville as well. Honestly, other than the east end, the city is ripe for growth and development. Maybe steal some of Nashville's thunder?

All I can say is thats a horrible idea. Downgrade a car, sell the stuff you bought, whatever.... But no, don't sacrifice your future for now.

I'm thinking that at the end you need a legally binding contract through an attorney. A typed up note with non-notorized signatures, etc wouldn't stand up if something were to hit the fan. 

Hold on.... I thought you were going to let it ride a few more years? Why did you close the account??? 

link doesnt take you to the article

So you want to pull down an income generating, fully owned property? How bad of shape are we talking here? Will you actually net out better??