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All Forum Posts by: Kody Thompson

Kody Thompson has started 9 posts and replied 152 times.

Post: Do I sell or rent out my SFR?

Kody ThompsonPosted
  • Rental Property Investor
  • Lehi, UT
  • Posts 159
  • Votes 158

Option 3! Especailly if the home is in a good location and you have cashflow! Real estate is not a get rich quick scheme it is about building wealth

Post: Advice to newly discharged Military member with $15k savings

Kody ThompsonPosted
  • Rental Property Investor
  • Lehi, UT
  • Posts 159
  • Votes 158

David,

Since you were in the Military you have access to VA loans which will cover 100% of the mortgage. If you can find a House hacking situation where you can live in the basement and rent out the top that will cover 100% of your mortgage that would be the ideal situation.

I would also look at getting steady employment before doing so though as you will want cash coming in for not only your living expenses but also if any repairs are needed on the loan. In addition putting 5% down on a home with a VA loan waives a pretty big fee there.

Hope that helps!

Post: David Toupin deal analyzer calculator

Kody ThompsonPosted
  • Rental Property Investor
  • Lehi, UT
  • Posts 159
  • Votes 158

Just got it a while ago, seems to be pretty details. Have yet to fully analyze a deal using the spreadsheet alone.

Post: Would you rent to your brother in law?

Kody ThompsonPosted
  • Rental Property Investor
  • Lehi, UT
  • Posts 159
  • Votes 158

I rent to my sister In law and to be honest It has its challenges. I would say only if you have an awesome relationship with them and know that they can take correction if the property is not being kept up to the lease standards. 

Another option would be to hire a PM company to manage it so you are not the bad guy. 

Post: Can LLCs own rental property in other states?

Kody ThompsonPosted
  • Rental Property Investor
  • Lehi, UT
  • Posts 159
  • Votes 158

Typically our structure with LLC's look like the following

Wyoming LLC

Owns LLC in the state that the property is located in.

This allows you to have protection in the state the property is located in while keeping things private as a Wyoming LLC

Post: OK who has received all or most of their rent this month ?

Kody ThompsonPosted
  • Rental Property Investor
  • Lehi, UT
  • Posts 159
  • Votes 158

So far so good. Had a few that needed a discounted rent that will be added onto later months but cant complain yet.

Post: Mortgage forbearance - yes or no?

Kody ThompsonPosted
  • Rental Property Investor
  • Lehi, UT
  • Posts 159
  • Votes 158

Back end of the loan repayment plan is ideal especially in this situation for most individuals. 

However each situation is different and other options should be put into place if necessary for earlier payback of the months especially if the loan is private.

Post: Preparing for your next investment with Gold and Guns

Kody ThompsonPosted
  • Rental Property Investor
  • Lehi, UT
  • Posts 159
  • Votes 158

Taylor, Thanks for your response I really appreciate you taking the time to read my post and I do agree with you on some of the challenges of both. 

However my original post was using these to hedge against inflation as a temporary place to transfer your money into while another 9 trillion is pumped into circulation which will inflate the price of everything.

I believe that we should see the real recession coming at the start of 2021 as more people are unable to keep up with living expenses as salaries remain the same. This is when the great deals will be coming and when selling the gold and guns to purchase cashflowing assets will be ideal.

Post: Preparing for your next investment with Gold and Guns

Kody ThompsonPosted
  • Rental Property Investor
  • Lehi, UT
  • Posts 159
  • Votes 158

James, 

Thanks for your reply, when I first started purchasing back in 2012 I could find Ak-47's for around $400 sold a few not to long ago for double the price I paid back then. 

Also if you do not fire the firearms most people are willing to pay MSRP prices still.

Post: Preparing for your next investment with Gold and Guns

Kody ThompsonPosted
  • Rental Property Investor
  • Lehi, UT
  • Posts 159
  • Votes 158

In these unprecedented times many can be left feeling stuck, not knowing what to or how to invest. Others fall into analysis paralysis waiting and anticipating the absolute best deal to come along only to miss out on many home runs. 

What really worries me as that while I am searching for the best deals the Fed is Printing more and more money! With the CARES ACT passed and in full effect our national deficit is looking to hit 30 Trillion Dollars in the near future! In addition with many business's slowing down production, new jobs at a loss and unemployment claims at an all time high I believe the worst and best is yet to come. 

So how do we as responsible individuals who have saved and waited for a time like this to come along hedge against the fed and its endless printing? Guns and Gold (silver included). 

Shout out to David Greene who wrote an article about this a few days ago as well as he recalled speaking with the great Robert Kiyosaki on the 5 G's Gold, Gas, Ground, Guns and Grub. Although I have never heard Robert talk about those items in the past it was something that has always rung true to me as when I heard the Cares act was passed and sounds of another stimulus package I simply moved more capital into these two categories. 

In my professional career I mentor many NFL Players and when I tell them Gold and Guns they immediately think Rolex Watches, Gold Chains and Uzi's and although all are fun to have they are not the best value for your investment. Jewelry is expensive to make and therefore you are paying for more than the value of the gold. In addition when choosing what type of guns to invest in practical decisions need to be made as well. 

The three things that I really like about Gold and Guns is:

1. They are tangible, meaning, I can hold them, they are physical things that are not made up. (dont beat me up in the comments too much bitcoin lovers) Guns can also be used to put food on the table, protect your family and have a good time at the range.

2. They are in High Demand. Since the invention of Firearms they have been a must have for every hunter, tacticool joe and responsible individual who wants to protect their family. In addition gold is known as gods money as it has backed fiat currencies around the world.

3. Their value increases as pandemics or recessions take place. 

So what type of firearms should I purchase to hold while my cash is devalued in my bank account? 

Ar-15's

Ar-10's

Military Pistols such as 

Beretta M9 

SIG Pistols

Glock 19,17,34,45

Shotguns

Mossberg 500, Remington 870

Ammunition

556, 7.62x39 9mm 45ACP 308 Win 22LR

In my opinion, you wont have any problems converting these physical assets back into cash when the right deal comes along.

Now I know what some of you are thinking, putting my cash into these items makes me look like a doomsday prepper and that may be a bit true but what does keeping your money in a bank that you are earning .25% back on while the fed prints another 10 trillion dollars say about you?

Dont care about what other people think, be smart with your fake money and buy physical assets that will appreciate on a smaller scale while we see some awesome deals come up in the next 6 months then liquidate them back to cash and buy those assets. 

Thanks for taking the time to read and looking forward to connecting with you all in the comments!

Kody Thompson is the CEO and founder of Kaeo Capital.