All Forum Posts by: Account Closed

@Laura Yoerger

This sounds like a question for your lawyer to answer.

Someone willfully entered into a contract with Solar City to allow the installation of those panels and the assignment of the power-saving benefits to a needy family (unless there is a government requirement to install solar on every new home, as is now the case in California starting in 2020). There has to be a paper trail for a lawyer to follow to determine which party (property owner or tenant) is responsible for the solar panel lease fee. There is also the business question about being able to charge more rent for a green home (if the decision is made to market that aspect of the property).

@Nick Elg

I've heard this expressed as God helps those who help themselves. I take responsibility for the results I get, which is empowering. If I get results I don't like, I'm the one who is empowered to change my future outcomes.

I take my inspiration from Dr. Van Tharp, who is a psychologist in the business of helping investors be successful. I've only read his books and not taken any of his courses (which carry a high price tag) because I have no interest is running a billion-dollar hedge fund. Tharp's thesis is once people get their psychology correct (they have their heads screwed on right), the specific approaches they use to build wealth are of secondary importance. Tharp claims to have worked with thousands of successful people over the years and each one uses a different approach. But they all have things in common, which Tharp attributes to their correct psychology (overcome fear, greed, and pride when making investment decisions, along with taking losses as well as gains in stride because they are a normal part of the wealth building process).

How much is the monthly solar equipment fee? The next time the rental agreement comes up for renewal, the rent might be increased by an amount that covers the solar equipment fee.

When I was a freshman, one of my classmates decided college was a waste of time and wanted to start his career, but still wanted the degree. He figured out a way to graduate in three years by taking an accelerated schedule.

I took the opposite approach. The college I attended had a normal semester load of 18 units, but allowed students to take up to 21 units for the regular tuition cost (they charged additionally for the units above 21). Since I like to get my full money's worth, I took 21 units each semester as an upperclassman. When I filled out an application for a graduate fellowship in my senior year, I answered the "tell us about yourself" box with "I took 9 semesters of academics in 8 semesters of time" (I got the fellowship). I used the overloads to broaden my knowledge in my chosen field (electrical engineering). At that stage of my life, investing and running a business were the unthinkables for me.

I learned that education is a marathon race where I'm the only one in the race and my goal is to cross the finish line intact. There are many distractions and annoyances along the way. One view of college faculty is they are a bunch of anarchists who have nothing in common except they share a parking lot.

The book Think and Grow Rich points out where specialized knowledge fits in the success process.

I agree with your assessment. The first rule of business is you have to understand your market. The second rule is you have to figure out how to meet your customers' needs profitably. If you fail to do so, you become a motivated seller and your rental will be advertised as "under new management."

In the ideal world, tenants and landlords have ample reserves to handle any disruption. But as author Rita Mae Brown observed back in the 1980s: If the world were a logical place, men would ride side saddle.

This thread is about whether to stay in college. When I was a teenager (1960s), the conversation was about whether to stay in high school. The grownups were telling the teenagers over a lifetime, those who graduate from high school would earn $1 million more than those who drop out at 16 and those who continue their education and earn a 4-year college degree would earn $1 million more than those who graduate from high school.

Teenagers ask the same question about why should they spend all day in a classroom and be forced to learn stuff they will never use. Instead, many want to get a jump on life at age 16 and start working at a factory to earn money. At 16, I figured the next six years of my life were worth $2 million more if I could get a good education. Of course, my parents provided motivation by overruling state law (people had to stay in school until age 16) and told me I had to stay there until I graduated at age 18.

I also had to take the tougher "college entrance courses" (more math, more science, more of everything) rather than the easier courses required by the New York State Regents to earn a high school diploma. The reasoning was if I wanted to go to college, I would be ready and if I didn't want to go to college, the tougher high school curriculum would put me in a better position to handle life.

My parents were not wealthy and the math made sense. Interest rates were regulated back then and savings accounts earned a 4% rate of interest. A million dollars in the bank generated $40 thousand a year of interest income, which was 10X the $4 thousand annual median household income of that era. I also learned in high school if you were against getting an education to get over it. Successful people were always educated, whether formally or informally (or as I've discovered, by a combination of both). The motto of UCLA Extension during the 1970s was: If you're not learning, you're not living.

I agree with the other posts that it's best to listen and let him do the talking. You might need to help him figure out what to talk about. For example, it's OK to say you're not sure what you want to do yet, but you're thinking about X, Y, and Z. He might ask you why you are thinking about those areas so he can understand your motivations.

I went through college on loans (3% interest rate in those days) and scholarships and I lived all 4 years on campus (dorms). If I had to do it over again, I would consider living off campus for the last 3 years (the college required students to live on campus for the freshman year). I would also consider working part time even if I didn't need the money because people skills are needed on the job (mine are OK, but they could be better).

Some colleges now are requiring students to spend a year living and studying in another country. I spent a few weeks in Japan on business back in the 1980s (the only time I've been out of the country other than visiting Canada around Niagara Falls a few times). I learned quite a lot about the challenges of dealing with another culture on this trip.

There is a story about an engineering professor who included the question "what is the name of our janitor" on the final exam. The students freaked out (I believe the question was for extra credit, but the exam never indicated this fact). The idea was there is much more to STEM jobs than equations.

Another trend to consider is real estate (construction) is going high tech. I see articles about construction sites with autonomous construction equipment and large 3D printers. There will always be the people element (eyeball-to-eyeball with prospective tenants and suppliers), but STEM is growing in importance. There is a skill gap for trade workers. For years, people have been told college is better than the trades.  Now there is a shortage of welders and other skilled specialists.

I'm one of those who hung in there and got the sheepskin (which opens the door to a job, but it's sink or swim once in the door). To provide you with an alternate view of college, watch Steve Jobs' 2005 Stanford Commencement Address.