All Forum Posts by: Paul OConnell

Why not write a seller note on the property for the full $75,000? Then when you sell it, you pay your dad off and take the balance.

That way you arent coming out of pocket for any money and he doesnt have to worry about it.

These are seminary students, I am guessing they dont throw nearly as many wild parties as the average tenant.

I would definitely want approval over the design and construction. I would actually want to hire the contractor myself, that way you know it is built right. Also, increase his security deposit. There will be costs associated with hauling it away when he abandons it.

Sorry Brian, considering every single jobs report in the last two or three years gets revised downward in the months that follow I am not nearly as excited as you. The reality is that there is no "recovery" on the horizon. There is no source of growth out there. The auto (huge incentives) and defense (two wars) industries propped the economy up in the mid 2000s. Both of those are done.

To put it in business terms, it will take time for individual Americans to rebuild their balance sheet and income statement following the collapse of their most valuable assets and the contraint on their cash flow from increased debt service and decreased revenue in many cases. And when you add to that the fact that interest rates will rise soon, further constraining people with variable rate loans it does not paint a pretty picture.
Remember an increase of 14,000 non-farm payrolls in June doesn't even come close to covering the high school seniors who are trying to get low wage full time jobs.

I believe in Michigan this would be illegal as the tenant would then be performing "Property Management" and would be required to hold a broker's license.

As Bill said, accounts at institutions like this, or banks for that matter, are generally considered Liabilities. The balancing entries would likely be cash or investments. They may have the assets titled Investments - Customer Accounts or something like that to denote that they have no control over the investments and cannot liquidate them for their own uses.

There is no law that says you only have to have one website/blog. You can have a number of blogs that from your perspective are all "your blog" but from the readers perspective are all highly specialized expert sites.
They can also all link to one another or link straight to your home site. They can even share web design costs if you want them to have one look to help create a brand.
Just a thought.

Congrats!

J Scott I will buy it for $4,000 but I need you to sign on for a 5 year contract...$0 salary...multiple daily updates.

The site's valuation techniques totally ignore anything but banner ad revenue and is more suited for parked pages than 99% of most business related websites which are designed to generate other forms of revenue.