All Forum Posts by: Mike Dymski

Very few people have reached financial independence...and others that have reached it that keep working do it for personal satisfaction.

Incidentally, most of us consider real estate, done properly, to be lower risk than the stock market, which is why we invest in it.

Whether we agree with these items or not, the following are inflationary government policies: stimulus, student debt relief, tariffs, increased child tax credits, limited immigration, and big government deficit spending.

In my lease, rent is due on the 1st and late on the 6th (and I file eviction on the 10th).  Poor rental payment history is a common cause for non renewal.  Some owners like collecting late fees.  In my experience, late payers often become non payers; so, I stick with the practice above.

There is a lot of noise in this thread unrelated to the issue (section 8, pays below market, leaky toilet for years damaged the floor, Christmas week, furnace inspection a couple of months ago...all not relevant).  Just send your HVAC guy, provide advance notice, and he can let himself in if she's not there.  If the heat is working and she submitted a fraudulent service request, bill her.

@Evan Polaski It took me at least a year of sourcing sponsors, finding investment group resources, analyzing opportunities, and understanding proper diligence; so, following a sponsor for a long time happens in the ordinary course of getting familiar with an investment strategy (particularly one that lacks control).  Based on all the posts related to paused distributions, capital calls, and failed deals, there are many LPs that likely wish they would have followed sponsors for longer periods.

I invested in a commercial property (apartment community) with a commercial loan that required it.

The syndication investing that is discussed on the BP forums and podcasts is a fraction of the larger syndication business.  It's primarily newer sponsors, investors, and students networking for opportunities.  The primary form of diligence we see on the forums is "what do you think of XYZ sponsor and deal" whereas the common form of diligence in the space by institutional investors, large investment groups, family offices, and sophisticated investors involves following the sponsor for years, underwriting the deals, validating rent comps, background checks on the general partners, and a host of other diligence that materially de-risks the investments.  It's not podcasts, mentorship programs, and hype.

I invested for over ten year before I had my first LLC.

I'm not a fan of the triangle.  It makes the dialogue more between the two members rather than with the whole membership (unless you take extra steps to click on every triangle).

Most of the investors I know have never read a real estate book or listened to a podcast.  They are in the field sourcing opportunities, analyzing real deals, and making offers.

“If more information was the answer, then we'd all be billionaires with perfect abs.” ― Derek Sivers