All Forum Posts by: Michael Le

Very sad news but Gene Guarino, who owns and runs this program, passed away just last week. So I'm not sure if this is still going to happen as I have no idea who could teach it in his place or whether you'd want to learn from them.

I'm not a CPA and you should talk to yours... but the answer is it shouldn't flow into it at all. The Solo 401k is a separate entity from you and there should not be an intermingling of funds. While you are the trustee, everything you do should be an arms length transaction that should be benefiting solely the trust and not benefit you.

Wow. I think the Jake & Gino students must have a BP Alert set up. Every time I see mention of the program name 10 people pop-up to post something about it. Just an observation. I know 4-5 J&G students from the Houston area and they all speak well of the program, so seems like it's pretty good.

It's very cyclical obviously, and Sherwin Williams would have a better pulse than most, so I would not be surprised if it shifts as grey as been de rigueur for a few years now. 

Although I agree that it is standard for anyone over 20% equity to have to sign on the loan, as you said maybe there are lenders who are more flexible. I suggest you reaching out to a mortgage broker in this situation since they will have many more contacts and also have their pulse on the market. I can make an intro if you want. DM me.

Only taking a quick look at your package my comments would be

- Margin seems low for a development deal. There is higher risk with costs and execution and longer timelines involved and yet your sale price is only 17% higher than your costs.

- Not sure why you are modeling cash flow when you plan to sell.

- Unless your cash flow model is because you're trying to calculate NOI and sale price based on that 8% cap rate. Which because these are duplexes they will be sold on comps and not income, so you need to confirm your sale price.

- I don't see any costs relating to the sale in your model. Realtor, title, etc.

Didn't even know about it. Have a good time.

I'd start with a book and some podcasts first and then re-evaluate the various courses. Most of the courses have a cheaper weekend you can go to where they'll offer some education and upsell you to their more expensive courses. Learning something ahead of time will allow you to better evaluate at that time.

What project are your proposing to finish? But if you have the money, time, and patience for it, you will make more money getting the land developed or close to shovel ready at least.

Welcome to town. Depending on what you're looking to invest in, there are meetups all around town. You can find them on meetups.com or the marketplace on BP.