All Forum Posts by: Ken Latchers

Quote from @Dave Carter:

@Nick Barlow

Bitcoin can never have more than 21M coins. 

Don’t lump bitcoin and “crypto” all together. One is an immutable store of value, the others are basically stocks. Very important point.

Really? Store of value of what? Ones and zeroes? Gold is a store of value going back over three thousand years. Real estate is a store of value. Silver is a store of value. Grain is a store of value. Bitcoins are totally worthless. Whether there is 21 or 21 million or 21 quadrillion. They hav3 zero value. And someday they may show that unexpectedly

Quote from @Rob Kishi:

Quote from @Ken Latchers:

Quote from @Rob Kishi:

Milo, a US-based lender is now offering bitcoin-backed mortgages with no downpayment, no credit requirement, no DTI, no bank statements, and 100% financing.

"My understanding is you provide the total cost of the home in bitcoin and Milo would supply the USD to purchase it. They would obtain custody of your bitcoin while you pay down your loan to them over time."

In other words, you are paying 100% cash for the business.  This is not a "mortgage"

Try this:  They offer a mortgage.  You just let them hold 100% of the value in the cash in your bank account.  Same diff...

@Ken Latchers Well, in option one your collateral is losing 10-20% every year while with option two it is growing at over 100%. After 30 years, if you went with option one you have a house and a cash position that has lost somewhere between 50-90% of its value. With option two you have a house and a bitcoin position that has grown exponentially providing you the ability to get the house (and much, much more).

If you and your future generations were put in a vacuum-sealed room and were told the oxygen was being leeched out at 10-20% a year, would you risk finding another room or would you stay there hoping things work out? How long would you wait?

The lending product is of course for those who believe in bitcoin. If you're not there yet, just buy the house with cash.

My collateral is not losing anything. I am fully invested in well-chosen real estate. I'm fully not invested in any kind of e-currency.

Quote from @Jason Kudo:

"Bitcoin nearly has a $1T market cap. This is now a...

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The ruble was founded on far more than Bitcoin, and look what happened to it the last 6 weeks

Bitcoin is worth absolutely nothing and is founded upon absolutely nothing. It has zero value and is highly erratic.

It only takes a Black Swan event to turn your holdings into vapor. During the Depression only Gold T bonds and real estate held their value. A lot of companies which were worth far more than Bitcoin disappeared from the Earth.

I had a family in a beautifully furnished home (it had been a vaation rental).  In 16 months, they trashed it. Althought he is on disability, she has a super job as a nursung supervisor.  They bought a house I believe within 40 miles, as she is at the same job. But I dont really know where it is or where she works exactly.

>>>>> I DO NOT KNOW WHERE THEY MOVED and they of course won't tell me. I tried sending a "return letter requested" but nothing.  Without an address, I cannot have court documents sent to them...   <<<<

I have their cellphone numbers, but that wont exactly be in the phone books.

He wouldnt let me in to show the place a week before they moves "there are moving boxes everywhere!"  When I got in I was mortified.  Beds stolen, all drawers gone from antique set, my personal stuff taken out of a basement ( he requested access to laundry room).  Upholstery and carpeting stained and slashed by their (illegal) cats.  Most walls were damaged,  Etc. Etc.

It will take 2 months to get access to contractors to repair and replace everything (hard to get contractors these days).  I am likely out some $30,000.  Insurance company seriously lowballing me. Nothing for cleaning, "adjusted" rates. "How do we know it was THEM who stole XYZ" "Do you have a list of what was taken?  DO YOU KNOW EVERYTHING IN YOUR BASEMENT AFTER 20 YEARS??? Carpets and furniture were USED.  Yea, but old house, I had to get furniture through the WINDOWS on 2nd and 3rd floor (stairways very narrow).  

Quote from @Rob Kishi:

Milo, a US-based lender is now offering bitcoin-backed mortgages with no downpayment, no credit requirement, no DTI, no bank statements, and 100% financing.

"My understanding is you provide the total cost of the home in bitcoin and Milo would supply the USD to purchase it. They would obtain custody of your bitcoin while you pay down your loan to them over time."

In other words, you are paying 100% cash for the business.  This is not a "mortgage"

Try this:  They offer a mortgage.  You just let them hold 100% of the value in the cash in your bank account.  Same diff...

Hi folks

I am planning to attend a County tax sale next month. 

I have never done this before. Assuming I do all the registrations and biddings right, 

It is a few thousand tax, plus all the listed transfer costs etc. And of course I have to win it if anyone else bids and pay with verified funds.

I know there is an existing mortgage, and I'm going to see if any other liens which I'm going to check with the county Monday for estimated amounts.

is there anything, like out of the blue, that I should be thinking or considering about?

the place is vacant but fully furnished and also on the market, so I guess I'm kind of clueless about what actually happens once it's mine.

like, is all the furnishings and appliances Etc become mine? Can I change the locks and make them deal with any remaining complexities?

I lost a good deal on a former bed and breakfast. I was going to live in it. My attempt at an FHA mortgaged failed, because I have 6 rental buildings and due to the pandemic, they decided my Debt to Income is way too high. I couldnt count "future income" so they think I was losing about $2000 monthly when in fact I would be making at least an extra $2500 with the new place.

My buyers broker suggested a mortgagor that has many loan products including a 20% down nonconforming mortgage. NOT FHA/USDA/VA/FNMA. It would not look at things like my DTI. Not Jumbo loan either. It is 20% down, some money in reserve, 5.8% interest rate.

Does anyone have familiarity with this type mortgage?  Know any creative mortgagors that would be legal in Pennsylvania?  I am trying to see if I can talk to a few to discuss my next move.

I am sure, but i am not making the b&b kitchen available. I have what I have, and there is a good rental market here

I am just trying to figure out how to best target those people. Not everyone seeks to be a celebrity chef. I myself don't cook that much each day,


Originally posted by @Carolyn Fuller:

Most people staying for a month or longer would prefer to have a full kitchen. It is true that during the pandemic, people have tended toward longer vacations where they can work from a vacation spot but again they'd prefer a larger space from which to work. I think you need to study your target audience better. 

I do a mixture of STR and extended stay but I know my target audience well. One of our rentals is between MIT and Harvard and the other is on the other side of Harvard. I know a lot about visiting scholars and what they need in an extended stay rental. Currently even during times I'm renting short term, I have more bookings over 30 days than I have under 30 but I suspect that to change as we move beyond the pandemic. During the pandemic, I tried to rent to visiting nurses because my market had completely dried up - both vacationers and visiting scholars disappeared. One visiting nurse loved our apartment but all the other inquires went nowhere. Neither of our rentals met the needs of visiting nurses and yet visiting scholars can't rent our properties fast enough. We ended up renting to students at a substantial discount during the pandemic.

Different target audiences have different needs and it is important to know what those are.

Partly because we do tours out of the area on the same weekends that people would be coming.

I do not wish to be checking in and dealing with STR issues and cleaning and other things. I did the vacation rental thing until the pandemic, but I would prefer people staying at least a few weeks or longer. There is a rental market here, not just tourism.

I was just curious if anyone had ideas about what I listed or other ideas positive or negative etc.


posted by @Nancy Bachety:

If you were the end user of each of the five listed, what’s the competition like? What is the demand for each? Tourist town sounds like Airbnb is your best revenue producer except you sound like you’re interested in monthly’s. Why monthly’s at a tourist BnB location? 

I am closing on a former bed and breakfast in a tourist town. There are four lovely furnished guest rooms with in room/en suite bathrooms. It is grandfathered, but has been closed for over 10 years. I have NO interest in being a bed-and-breakfast owner!

So I am considering short and long-term furnished rentals to singles. My goal is to maximize revenue rather than occupancy. i plan to put small kitchenette in each...microwave, 7cf fridge, storage & shelving, small counter, etc

My plan, your thoughts or ideas?

advertise each room as a furnished Studio/efficiency or room using:

Turbotenant 

Craigslist 

furnished finder (travel nurses, etc)

Airbnb monthly type rentals

local newspaper