All Forum Posts by: Joe L.

Have you considered getting a business partner?

Matthew Olszak 2 months to draft a complaint? You really should get another attorney.

I apologize if this sounds condescending. It is not meant to be. This is just your obligatory cautionary reply. Please check with your local laws regarding wholesaling in your state. The last thing you want to do is make cards that would be evidence against you. Again, you may have no reason to be concerned. The following is a link to a very useful wholesaling article on bigger pockets. https://www.biggerpockets.com/renewsblog/2015/03/27/real-estate-wholesaling-illegal/ you may have already read it and be more familiar with this whole area than I am. This is not legal advice.

Congrats!

Frankly, I'm not saying that either one is better. The 401(k), however, needs less hands-on. I'm saying for the highly motivated person either could work. I just caution those who might miss an opportunity with their 401(k). The people who are most likely to lose the energy to keep going with their real estate journey are those who do not foresee that they will lose the energy and motivation. Each person should just educate themselves about both options and make the best choice for them. I tend to air on the side of caution and longevity. But that's not for everyone and I will definitely not be getting rich quick. I apologize for the double post above, I'm not sure if it was my error or bigger pockets.

Brian Eastman provides wisdom. Remember, a 401(k) is only a tool. It can be highly effective if used correctly. While some may not need a 401(k), compound interest is nothing to snuff that. Love me some compound interest. Ideally you could do both. Realistically, I will always make sure I have a safety net. Who knows when I could become sick or a family member requires my time and energy because they become sick or I simply lose all interest in real estate.

Brian Eastman provides wisdom. Remember, a 401(k) is only a tool. It could be highly effective if used properly. Also, please consider that while some people might be able to forgo a 401(k) in the pursuit of cash flow or other, most would benefit from the Safety net. If the above average investor is passionate, knowledgeable, and determined enough, then that investor might not need a 401(k). The average investor might be active for a few years and would lose in the long run if he or she decided to not contribute early and consistently. Compound interest is a beautiful thing. Lastly, the below average investor will greatly benefit from having the Safetynet and he or she is not likely to foresee when they lose the energy passion or determination to do to continue the real estate venture. Even the highly active and highly motivated investor might become ill or other and not be able to actively pursue real estate. A safety net is rarely a bad thing.

Hi Johnny. That's a great question with a very simple answer. Unfortunately, I am not licensed to practice law in your state. I would recommend taking this as an opportunity to start a relationship with a real estate attorney or business attorney you can trust and rely on for future advice. Their answer to this question should not take very long at all. Alternatively, you could reach out to a tax professional. Though this question does not require such action, you can always reach out to the IRS for an opinion.

Hi all!. To be clear, I can come up with a long list of reasons why mediation might not be applicable or is not effective in the landlord tenant context. My question is not about coming up with why not, it's about how this could be possible. So, can anyone share a story about how they avoided the eviction process entirely simply by communicating effectively with their tenants? To that end, could mediation be used as a cost effective tool to avoid eviction? Obviously mediation should not be adopted as the uniform practice. Instead, could mediation be adopted for One in every three evictions--Simply as a means of reducing legal fees.

Greetings from a fellow concordite!