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All Forum Posts by: Scott Mac

Scott Mac has started 60 posts and replied 5045 times.

Post: The SEC cares about you raising money

Scott MacPosted
  • Austin, TX
  • Posts 5,156
  • Votes 5,198

@Jillian Sidoti

Hi Jillian,

Too bad they don't allow the sales pitch and then the weeding out the wheat from the chaff using the accredited investor qualification form.

It would mean more business for us and for you to.

I guess it's up to congress as to how that goes.

But it would be a nice boost to have it that way. Like weeding through job applications.

I guess this way, the voters who they prohibit from participating don't know what they are missing and will still vote for them.

Just my 2 cents.

Scott...

Post: Rent per room? Is it possible?

Scott MacPosted
  • Austin, TX
  • Posts 5,156
  • Votes 5,198

HI Jack,

Check with you city and see if they allow rooming houses (or whatever name they call them locally).

In some areas they may have to have lockable bedroom doors, and in some areas they may prohibit lockable bedroom doors.

There will be codes for this, as well as zoning, and the all important parking.

Another concern is tenant type should match the neighborhood, and that's for your ability to keep tenants as well as the neighbors not filing endless complaints against you for everything they can think of.

What I mean is if you start a halfway house for recovering derelicts in the middle of Beverly Hills the neighbors will probably cause you endless legal trouble until you close it down, and you will not have a lot of prospective tenants wanting to rent there because a cup of coffee is $18 and there are no pawn shops or liquor stores around.

So even if you can do it, the question is should you do it there.

just my 2 cents on this.

Good Luck!

Post: Considering cost when choosing between colleges.

Scott MacPosted
  • Austin, TX
  • Posts 5,156
  • Votes 5,198

Hi RJ,

If you are going to pay these people to learn pretty much ZERO job skills, realize that

they all teach pretty much the same  useless stuff as it relates to working.... one set of useless knowledge they make you pay for vs another set of useless knowledge they make you pay for. 

It makes sense to choose the cheaper one if that's a hoop you have to jump through to get the type of work you want.

My vote would be Washington Huskies because the Alumni connections will probably be better, and that just might get you a better paying job somewhere later in life.

And if they have some kind of construction fraternity or club there, join that and seek a leadership role in as quickly as possible. That will also give you a boost up in getting a job. Not because you demonstrated anything special or learned anything, but because you are more likely to know "the right people". <-- (and that makes things go a lot smoother)

Good Luck!

Post: Funding for 35 unit apartment complex.

Scott MacPosted
  • Austin, TX
  • Posts 5,156
  • Votes 5,198

Hi Willie,

That's 11,500 per door, it must be in a tough area.

Try this, call some:

  • Local Savings & Loan Associations,
  • Local Federal Savings Banks; or
  • Local Mutual Savings banks.

Whatever name they go by in the city where the property is located.

Some of these places will do a commercial loan locally on tougher assets to keep the area from further degrading, 

and may lend on easier qualifications than federal loans. 

Good Luck!

Post: Help me dress up the front of this house.

Scott MacPosted
  • Austin, TX
  • Posts 5,156
  • Votes 5,198

HI Adam,

If it were mine, I'd:

  1. Replace the blue color with a trendy (light) avocado-ish green (the lawn is green and the bricks look good with that).
  2. Replace the all of the white including the garage door with a darker color to contrast (or blend) with the green (experiment a little).
  3. Move the house numbers down one board to make the house seem bigger.
  4. (budget ?) Add shutters to all windows to accentuate the horizontal-ness of the home.
  5. Paint all shutters black, which will probably go well the darker bricks in the brick blend.
  6. Paint the two small white utility boxes on the front to match the brick, or move them to the side of the house.
  7. Replace the porch column with a rather plain square one.
  8. Get rid of the shrub in front of the column.
  9. Trim that bush near the driveway to about 1/3 the height of the bricks or get rid of it.

Good Luck with your choices!

Post: Why are investors purchasing TLC properties over value

Scott MacPosted
  • Austin, TX
  • Posts 5,156
  • Votes 5,198

Hi Davian,

From what you are saying the area seems like it might be almost ready to peak out.

And when that happens stuff tends to sit on the market for a long time and prices tend to go down.

Those who get caught holding at the peak end up losing....

When will it peak? Who knows, but the hotter it gets the closer it is.

Good Luck!

Post: Buying Multifamily in South Side of Chicago

Scott MacPosted
  • Austin, TX
  • Posts 5,156
  • Votes 5,198

Hi Kenneth,

There is an old song named "Bad Bad Leroy Brown".

and the lyrics say "...the South side of Chicago is the baddest part of town

And if you go down there you better just beware..."

And that seem like some good advice.

It is not North Dakota in any way shape or form.

It is dangerous.

Those who can make the area work seem to know the area and know how to do business there.

There are easier fish to catch...

Just my 2 cents

Good Luck!

Hi James, 

Look at your contract with her allow her and see if it allows her to refuse to submit these offers?

6 months is long time, but if the contract says so, then that's what it is.

Good Luck!

@Kieran Donahue

Hi Kieran,

Just a heads up,

UL2218 Class 4 Hail Resistant Shingles - aside from the insurance reimbursement,

there's more to this Hail rated shingle warranty stuff than many people think.

For instance, the if the shingle has a 30 year warranty but the sealant has a 5 year warranty. If the shingles blow off after 5 years, there may be no warranty.

If the manufactures recommendation for the type of nails, number of nails, placement of nails and depth of nails is not followed exactly there may be no warranty.

If the singles are laid over an existing set of shingles, there may be no warranty.

If the manufacturers directions for the under layer are not followed exactly, there may be no warranty.

If the, etc...

And what makes the shingles "Not covered" by warranty does not seem to be spelled out very clearly in the warranty papers, but it's there if you know what to look for, and the shingle companies do not seem too keen to fulfill the warranty unless your install is "right on the button" with their requirements.

(which makes sense, because that is how it must be done to increase the shingle survival rates).

What I'm getting at, is your if you want to be "More Likely" to have "Less Trouble" collecting on a shingle warranty, your installers must follow the shingle manufactures directions to the letter.

Shingle Advertising, "What the large print giveth, the small print taketh away".

Good Luck!

Post: Lawn company scam???

Scott MacPosted
  • Austin, TX
  • Posts 5,156
  • Votes 5,198

Next time you see them in your yard, call the Police and have them trespassed.

When the officer gets there, explain the situation to him at that time.

Good Luck!