All Forum Posts by: Jeshua Patrick

Kory Giddens another option you might consider when approaching other investors is wholesaling part of the deal to them in lieu of a large portion of equity on the remaining part of your deal. It might be more appealing to them while leaving you with more palatable terms on the portion you keep.

David Wales unfortunately I won’t be able to attend. Thursday’s are terrible for me :(. I do have one request that will benefit mobile users. When you create an event can you duplicate the meetup information in the text part of the post as BP hasn’t configured the event link to work inside the app meaning us app users can’t see the actual meetup information without finding the post in a full web browser.

Stephen Hayworth it’s great to come here for advice and opinions but there comes a point in certain situations where it’s best to spend the money and go talk to an attorney. This is one of them. It’s great to get everyone’s opinions on here or elsewhere but those will not hold up in court.

Get a CPA first, figure out what you owe to whom, then get a tax attorney to help negotiate settlements. You need to act before the IRS and the State of Georgia do if you want the best outcome. I have been underwater with the IRS when I was young due to bad tax advice and I can tell you that it’s survivable no matter how bad it sucks. Unfortunately, from an investment standpoint, no one is going to loan you money or partner with you until you fix this if you are upfront and honest with them as you should be. They can’t afford to have the IRS or the State of Georgia swoop in and seize your and their investments.

Kory Giddens are they being greedy or are you? Please don’t take offense to this but it may be just the question you should be asking yourself. The best way to find that answer would be to post the deal details and what you would like in a partnership. The feedback you get will be priceless.

Cathey Bayless does a deal make sense if you razed the property and built a spec house or small multi on it? Clearly you should run from the rehab but if it made sense to rebuild maybe you could partner with a builder on it and turn a profit anyways.

Dan Heuschele those are great points and all valid.

@Ryan E. I am not saying it will not appreciate more than it is now over the next 20 years. What I am saying is he can lock in a permanent tax waiver by selling now AND have a large enough amount of capital that allows him to go buy a different type of RE that will significantly boost his cash flow NOW (think 4-10x) and give him the ability to force a large amount of appreciation in the next 2 yrs vs 20 yrs AND not have to worry about the market taking that appreciation away from him if he buys in the right area and manages it well. For example, let’s say his property appreciates over 20 yrs to 1MM and his rents grow from 2700 to 4000/mo. If his cash flow is $500/Mo now and grows to $1000/Mo he is still worse off than if he sells tax free and takes the $300k and buys say 30 doors for 1.5MM. Those 30 doors rent at $500/Mo each @ 15% net profit (COC). His gross rents are now $15k/Mo and net cash flow is $2250. He puts some improvements into it, lowers some costs, and raises the rents to $600/Mo. Let’s just say his value is now 2MM and his net COC is now 20%. He now has an additional 500k in appreciation, his gross monthly rents are 18k, and his net cash flow is now $3600/Mo. That’s not a stretch either. It’s totally doable. Do you think he would still be better off keeping his house instead??

I ran some coax and wired a house with CAT6 Ethernet cable last year. Neither are electrical. Either you have a bad tech or a tenant trying to play you. They may have even caused the damage to the line. A local hardware store will have all the tools you need to check signal in the lines or hire a contractor, at their expense of course if it’s determined they caused the issue. Do NOT call an electrician!

So I’ve suddenly noticed that there are posts being made in existing threads that are clearly engineered to bypass spam filters by breaking web addresses up into separate words, using words instead of punctuation, and using parentheses to break up sentences the web address is in to further confuse filters. Please do NOT go to these links. If you see a suspicious looking post look at post count. If a low post count they are probably fake. If a high post count their account may have been hacked and being used maliciously. I would flag these posts but don’t see an option for doing so through the iOS app which is my primary tool for using this forum. Any other forms of suspicious activity being seen by others here?