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All Forum Posts by: Mitch Kronowit

Mitch Kronowit has started 38 posts and replied 1726 times.

Post: What to wear to a local REIA meeting?

Mitch KronowitPosted
  • SFR Investor
  • Orange County, CA
  • Posts 1,906
  • Votes 1,396
Originally posted by J Scott:
Originally posted by Mitch Kronowit:

Don't dress like you're heading to a beach volleyball game, unless you don't want to be taken seriously...

Or unless you have a beach volleyball game after the meeting!

True, but then I'll expect you to wear a suit and tie at a beach volleyball game if a real estate investor meeting shortly follows. ;-)

Post: Any pilots on BP?

Mitch KronowitPosted
  • SFR Investor
  • Orange County, CA
  • Posts 1,906
  • Votes 1,396

I've been a pilot for over 2 decades. First 9 years in the US Navy flying E-2C "Hawkeyes" and instructing in the T-2C. Then hired at the airlines. I hold type ratings in Boeing 737, 757, 767, and Airbus 320 aircraft. Currently based out of LAX flying 737-500's, 700's, 800's, and 900's.

Post: What to wear to a local REIA meeting?

Mitch KronowitPosted
  • SFR Investor
  • Orange County, CA
  • Posts 1,906
  • Votes 1,396

Business casual is best, unless it's really hot outside, then clean preppy shorts and a polo shirt is fine.

Don't dress like you're heading to a beach volleyball game, unless you don't want to be taken seriously, and don't dress like this fellow unless you want to get mobbed by every wholesaler in the room. ;-)

Post: LLC or sole prop

Mitch KronowitPosted
  • SFR Investor
  • Orange County, CA
  • Posts 1,906
  • Votes 1,396
Originally posted by Wayne G.:
One of the requests was to cite a specific case where an LLC did not provide liability protection. The link below is for the Allen v Jay Dackman case in Baltimore City, MD. (Go to 2. What did he do wrong.)
http://marylandcommercialtitle.com/blog/wp-content/uploads/2011/05/2010-hit-parade-speech.pdf

Yikes. If this is where our national court system is heading, I'm off to Costa Rica. There's either much more to this story, it got thrown on its a$$ in appeal, or there's simply no defense against a plaintiff trotting out a sick child.

I'd like to hear what some legal experts think of this case. If lien-holders are next in line to be sued because of what happens with or on the property their loan is secured by, this country is going to implode quickly.

Post: LLC or sole prop

Mitch KronowitPosted
  • SFR Investor
  • Orange County, CA
  • Posts 1,906
  • Votes 1,396
Originally posted by Terry P.:
You might want to check with your Secretary of State, member’s names and contact info is public record and a simple phone call away in my state.

Not here in California. The Secretary of State doesn't have my name, address, or phone number on ANY documents relating to my LLC because I appointed a "manager". They have my manager's and resident agent's info, not mine.

That's another reason I like conducting business through an LLC. Even though not perfect, it does offer a certain degree of privacy and separation.

Post: 3-day notice conflicting with 30-day notice?

Mitch KronowitPosted
  • SFR Investor
  • Orange County, CA
  • Posts 1,906
  • Votes 1,396

That's a good question. My thinking is serve the 3-day notice to pay or quit first. If they don't pay, they'll get evicted precluding the need for the 30-day notice. IOW, evicting them is pretty much telling them you wish to end their tenancy!

If they do pay, then serve the 30-day notice. It's a way of saying, "Thanks, but we're done with you now".

Post: Land trust costs

Mitch KronowitPosted
  • SFR Investor
  • Orange County, CA
  • Posts 1,906
  • Votes 1,396

My limited experience is roughly $1,000 per entity.

Post: 2 Year Rule for Capital Gains on Rental Prop

Mitch KronowitPosted
  • SFR Investor
  • Orange County, CA
  • Posts 1,906
  • Votes 1,396

I never heard about the exemption being prorated. I thought it was either all or nothing. Interesting if true because it would soften that 2 year drop dead time.

Post: Higgs Boson Found (Particle that Explains Gravity)

Mitch KronowitPosted
  • SFR Investor
  • Orange County, CA
  • Posts 1,906
  • Votes 1,396
Originally posted by John M.:
Our mass is 99% from the kinetic energy of the particles moving.

Wow, that's equates to whole lotta energy, especially in my case.

Post: VA Vendee Lender

Mitch KronowitPosted
  • SFR Investor
  • Orange County, CA
  • Posts 1,906
  • Votes 1,396
Originally posted by Mike Cartwright:
Does anyone know what website they will use to list VA Vendee properties? I don't think equator is active anymore.

Equator.com still works for me. However, there isn't any phone number to call as before.