All Forum Posts by: Jonathan Dempsey

@Tom R. This is going to sound cheesy, but I only play when the expected value of the ticket is greater than its cost. So when the jackpot gets as large as $1.6 billion and a chance of winning of about 1 in 302 million, it makes sense to play theoretically. Sure taxes and $2 ticket cost factor in, but I’ve only played twice in my life. I like to dream like anyone else here and if the math backs up the action, great!

@Allison Patterson Hi Allison, you pose a great question. As others have said for your first question, it comes down to running the numbers and seeing what provides the greatest return. On top of considering the bonuses of mortgage paydown, tax advantages, and appreciation (even if just as a tiebreaker for appreciation since its not guaranteed), you also need to dig deeper into the second question. You cannot properly compare the numbers until you have ironed out the details on cleaning and have a good sense of projected price, seasonality, and vacancy. Keep in mind the airbnb route will take up more of your time as well, which should be a factor. Airbnb property management can get quite expensive (average 20% or more of revenues as their fee). Although you have not given much detail, my first hunch is that an airbnb would be more likely to generate more money for you, but that it will be more time consuming and hands on. Best, Jonathan

@Jenn A. No AC in the middle of a heatwave? Definitely should at least give a grocery card. I am not sure how long it was before the window units came into play, but any nights without them were probably hell, and dangerous for the child. Of course this is not something that was within your control and things happen. I have an arrangement with my friend where I stay with him one or two nights a week for cash, and his air went out. He only had a window unit for his room. I can tell you that even as close friends, when he told me “too bad, pay up” I was furious. I was unable to sleep. Got maybe 2 hours a night before work the next morning. I stopped staying with this “friend”. The point I am trying to make is, I liked the guy and resent him now. Your tenants had a much longer period to deal with No AC which is no joke in a heat wave. You should do something to help if you were not able to provide the window units in a timely fashion.

@Nicholas Weckstein Just curious, but for what purpose do you/other investors use the classifications for? I could see maybe labeling the likelihood of being paid or for knowing your market of tenants. What market rents are and the likelihood of being paid on time/no damage to the rental seem to be the golden focuses to me. Just curious as to what you use the letter grades for? Thanks!

@Jason Howell Hi Jason, I read once that you should come up with a specific numeric goal for a time frame (month, year, etc). Then, whatever number you have set for yourself, multiple it by 10. Then challenge your mind to find ways to get to this new seemingly unrealistic number. If you think about it long and hard enough, the 10x number will seem much more realistic! Ie. Goal make 100,000/year by this time next year New goal: Make 1,000,000/year by this time next year. Even if you do not hit it I’m confident the elevated level of thinking will propel you way past the 100,000/year figure.

@Dustin R. Smith Thank you for the response!  Roughly what area do you operate in?  Do you keep the Tesla "listing" up frequently?

Does anyone have experience renting a car on Turo or any other similar sites/apps? I am interested in the idea of car-hacking. Basically I would want to STR a nice car to make some money on top on the car payment, and then have a nice car for when I would want it. I currently own a prius, so I would not need the next car for anything other purely recreational use. I want to analyze the deal similar to real estate, but projections seem more variable and depreciation is not friendly in this business model. Any thoughts?

Michael Garofalo do we know if it works the same to borrow from one’s IRA for a down payment as it would for a 401k?

Mike B. Hey Mike, I live in Point Breeze and would love to see anything you’ve flipped and discuss your strategy and horizon. I am having trouble PMing you on mobile but PM me if you like. Perhaps we can get an investor meetup going in the area? Best, JD

Thank you all for your feedback. I am going to prorate 1 day for the period from the 30th to the 1st that there was no hot water and the lease had begun. The language will read something about livability and quality of life to explain the prorate for the water and not holes/paint. I appreciate all of your help, best of luck!