All Forum Posts by: Account Closed

Google "sex offender legal distances" to come up to speed in general and then talk to your lawyer to deal with the specifics.

I was told by a property broker once that adult businesses usually have legal distance requirements and that only a small percentage of addresses could meet all of the requirements.  Property that can qualify are considered valuable islands by those commercial tenants who need them.

In my case, I have a set routine for every day of the week. My mind runs on autopilot - the time I get up, the clothes I wear, the foods I eat, the chores I have to do, the appointments I have to keep, and so forth.  This routine provides a background structure for my time and activities.

Because I'm not using brain power to make these trivial repetitive decisions, my mind is free to think at a higher level - what kinds of investments should I make, who should I be building relationships with, how would I handle a major financial or economic downturn, and so forth. 

I use affirmations rather than goals or priorities for the most important stuff I want to accomplish.

Goal: My goal is to become a millionaire. [But if I fail, oh well, I tried my best.]

Priority: My number 1 priority is to become a millionaire. [Unless something else gets in the way.]

Affirmation (daily): I'm a millionaire.

I got the idea from a personal finance podcast. My subconscious mind works in the background 24/7/365.

When I sold my house and moved to another state, I was worried I wouldn't be able to qualify as a renter (no income). My realtor, who is also an investor, told me I had assets, and she turned out to be right.

I found out from an online forum that some apartment owners are required to document the income of their tenants because the commercial lender wants to make sure the cashflow from the property is enough to comply with the covenants of the loan. These buildings are usually large (hundreds of doors) and the leasing office is staffed with clerical types who have strict rules they must follow. A BiggerPockets landlord is usually a smaller entrepreneurial type who can make a judgement call in these assets-but-no-income situations.

I've had the same experience. Before I retired, my dayjob was doing knowledge work in an office setting. I was told to wear a coat and tie to the job interview even though I wasn't going to be doing so after I got hired. When I switched to doing the same work as an independent contractor through a temporary help agency, I was told by the head of the agency to just show up to the interview in my regular office clothes. The fact that the agency had recommended me was good enough to get me in the door, and all the client wanted to do was make sure I would fit in with the company culture (was I easy to get along with, was I willing to learn, and so forth).

But I've seen both extremes. For some highly technical positions, the job ad said not to wear a coat and tie to the job interview because the company was interested in the applicant's mind and not their clothes. I've also seen situations where if someone wasn't wearing the right kind of expensive suit, they were deemed to be of the wrong pedigree and no one at the company would even listen to what they had to say.

As someone who is financially independent now, I can afford to be myself all the time. If someone rejects me because of the clothes I wear or any other reason, that's OK. Self-selection at the front end means I don't have to make an extreme adjustment (such as voting with my feet) at the back end. 

To build wealth, live a frugal lifestyle and invest in income-producing assets. When the investment income exceeds the living expenses, everything else I do (for money) becomes a profitable hobby. I would have the freedom to walk away with ease from situations I didn't like.

In my case, I was told to buy the most house I could afford because it would always go up in price and by paying down the mortgage, my net worth would always be increasing. Technically yes, that is what happened, but the 33-year journey from buy to sell was a rocky one at times.

It boils down to a trust-but-verify issue.  There are alternative ways to do this when paycheck stubs and rental histories are not available.

For example, someone with no visible means of support might be running a meth lab (Google "meth lab tenant" to learn how expensive this can be for property owners [who are responsible for the cost of cleanup]). But someone with no visible means of support might also be a millionaire who inherited the money, won the lottery, or cashed out stock options from a start-up, and now wants to take time off. The meth lab person might not have a bank account, while the millionaire probably does.

You might not know where the money comes from when rent is paid with cash or credit cards. But with checks and debit cards, you know the rent money comes through a bank. This provides another pair of eyes because banks must follow the know-your-customer rule.

There seems to be a disconnect here. When I go to Airbnb's help pages, I find the following:

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https://www.airbnb.com/help/article/1237/how-does-it-work-when-airbnb-asks-for-an-id

When you’ll be asked for an ID

This may happen for a couple of reasons. For example, some hosts require their guests to provide a government ID in order to book their place or experience.

There are also times when we’ll ask for an ID to help us confirm you’re really you.

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I've never done Airbnb. But I've always had to show a photo ID whenever I checked into a motel (I know the ID was often photocopied, but I don't remember if it was always photocopied). I thought this was a requirement of the PATRIOT Act to make it difficult for terrorists to travel, but I haven't been able to confirm this with a Google search.

I've always had to provide a credit card (which was scanned) whenever checking in, even when I booked online. I was told that if any towels were missing or damage was found, my credit card would be billed.

When I went from owning a home to renting at retirement, I had neither an income nor a previous landlord. My current landlord wanted to see the most recent savings account statement with a balance that covered a year's worth of rent. I pay my rent monthly (12-month lease).