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All Forum Posts by: Ryan M.

Ryan M. has started 7 posts and replied 124 times.

Post: 90,000 Wholesalers in 2022 and now there ar 20,000 Wholesalers - Wha' Happened?

Ryan M.Posted
  • Developer
  • Panama City Beach, FL
  • Posts 130
  • Votes 89

wholesaling is a dishonest business of people misleading sellers to believing they can buy their property, when they actually have no intent nor means to do so.

Post: Need Advice: Renting vs. Buying in San Diego with $1.5M in the Bank

Ryan M.Posted
  • Developer
  • Panama City Beach, FL
  • Posts 130
  • Votes 89

Just put your $1.5M in a S&P 500 index fund. Definitely don't go buying a multi that doesn't cashflow and go live in one unit like a renter. You make too much money and have too much money to live even one year like a miser.

Post: Have you seen what's coming to Columbus?

Ryan M.Posted
  • Developer
  • Panama City Beach, FL
  • Posts 130
  • Votes 89

If you are happy with $100/mth I've got 3 duplexes in NW FL in a fast growing area I can sell you. You can probably make 20% on your cash much sooner than 10 years from now.

Honestly, if you load up on a bunch of properties with $100/door/month cash flow and you don't have about 100x that in cash reserves per house, you may not make it to year 10.

Post: First time with new construction: Cape Coral, FL

Ryan M.Posted
  • Developer
  • Panama City Beach, FL
  • Posts 130
  • Votes 89

What's in it for R2R? Did you all buy your lots from them? It sounds like they just sent you to a lender and builder and maybe they got a piece from each? You shouldn't pay any draw until the work is done. Did you try a local CU or bank for a construction to permanent loan? I can't imagine they would cancel your loans like this other lender has unless they had cause. Building can be risky if you don't know what you are doing and who you are hiring.

Post: Important decision: Rental real estate vs stocks

Ryan M.Posted
  • Developer
  • Panama City Beach, FL
  • Posts 130
  • Votes 89

Are you sure moving into a rental for 2 years equates zero capital gains? I believe capital gains would be figured as a ratio of the time it was your personal residence/ time it was a rental, and if it's not as nice a place to live as you are accustomed to, is it really worth suffering 2 years being in a 'rental'. Plus you still have to pay taxes on your depreciation recapture, that doesn't get forgiven. 

Post: Huge Airbnb home struggling

Ryan M.Posted
  • Developer
  • Panama City Beach, FL
  • Posts 130
  • Votes 89

Based on the location you aren't going to get any short-term renters. Was that sold to you as a short-term rental/vacation rental? Nobody is coming to the beach for vacation andrenting a house in a residential neighborhood miles from the beach all the way in Panama City. Sell it or rent long term.

Post: We're being overrun by fake finance, investing, and RE gurus

Ryan M.Posted
  • Developer
  • Panama City Beach, FL
  • Posts 130
  • Votes 89

@Greg R. It was awhile ago I looked at it, but one of the apartments traded hands a few times and I couldn't find the deed to the current owner of record. I don't think it's as blatant as that video portrays, as it's all out there for anyone to find (everything is public record and easy to find in FL) but his company definitely targets the unsophisticated newbie investor type, like their tenants and those attracted to his blingy "lifestyle". G5's aren't cheap.

Post: We're being overrun by fake finance, investing, and RE gurus

Ryan M.Posted
  • Developer
  • Panama City Beach, FL
  • Posts 130
  • Votes 89

On Grant Cardone, he owns a few newer apartment complexes where I live in PCB. They all have signs that say ".... a cordone capital property...."  and/or are named "10x Living at ...." I can't imagine those names attract residents?!

It's all public record in Florida, and I did look up the sales when he first purchased here which at the time seemed like crazy high prices. I can't remember details, but it looked like he would buy in one LLC and sell to another that was his syndication for quite the markup. Those transactions, along with his management fees, and poor payout structure for his investors lead me to believe he makes a ton off of real estate. Probaby more than the 'education' seminars which are probably expensive to put on plus all the fees for his high profile guests.

Funny to note that I recently overheard one of his tenants complain about rent increases when picking up my mail, and this tenant told me that Cardone frequently leaves fliers outside their doors fishing for investors. I thought that was pretty tasteless, plus it leads me to belive he makes his money on the backs of the small investor that doesn't know they are in a subpar investment. 

Post: Newbie looking to 10X current net worth!!

Ryan M.Posted
  • Developer
  • Panama City Beach, FL
  • Posts 130
  • Votes 89

Leave your money where it is, assuming you have 7 or 8 figures in $TSLA. I'd much rather have 7 or 8 figures in one stock than 8 figures in real estate. Why? You can sell off stock annually and pay ZERO taxes on your first $105k in capital gains (assuming married filing joint and no other income). Other than selling your personal residence every 2 years, I don't know of any other tax free income. Real estate just let's you defer taxes for a while. Taxes and closing costs will hammer you when you sell, and who really wants to 1031 and own and manage real estate their whole life? 

Divesting to diversify will also hit you hard with taxes. Why voluntarily incur taxes like that? Before you listen to a financial planner, back test what they say your portfolio is 'supposed' to look like and see where you would be if you listened to that planner 10 years ago- probably still working and dreaming of a retirement by 65.

But if you want to invest in real estate, move your stock to a broker that will offer you a great margin loan rate (1%-3%). Use it for your down payment on one property, wait a year and see how you like it. Plan on the margin loan as short term use only. Hopefully you can refinance and pay the margin loan down to zero after a year or so.

Post: Cost to demo a house for new construction

Ryan M.Posted
  • Developer
  • Panama City Beach, FL
  • Posts 130
  • Votes 89

$47k is high to tear down a house. Just got a quote in PCB for $7k to remove a mobile home. How much does that builder want to charge to you build a house? I've built a few not too long ago in Mexico Beach.