All Forum Posts by: Scott Mac

Hi Matthew,

I would recommend not trying to DIY with QuickBooks setup.

Their marketing material makes it seem easy to set up. It's not.

There is a lot that goes into it to getting it right and making it useful.

There are some CPA's on this forum who are QuickBooks people. 

Just pay for the setup and then learn to use it to cut checks and enter your receipts, or get a book keeper that knows how to use it.

Good Luck!

Hi James,

That would leave a lot of houses in some parts of Chicago vacant.

But if it's in a small-ish town, for a few years is might (or it might not) mean a reduction in rent below market levels.

If that unknown risk factor is bothering you, it might be better to just find another house and sleep well at night.

Good Luck with your decision!

Hi John,

I doubt they will mind someone walking up and listening.

Remember they want to meet YOU too, that's why they are there. 

When you walk up and listen, it makes it easier for them to meet another person--your kind of doing them a favor.

Your presence there is more important than you are giving yourself credit for. 

You don't have to be top dog, just be one of the dogs in the pack just be ready to bark a little bit when your in the right position.

Good Luck!

Hi John.

I'm pretty good at networking, so I'll give you a tip.

Be yourself at all times. 

And always remember you do not have to lead the conversations.

An easy trick is to join a conversation between two people already in progress and just listen.

While they are talking smile a little and seem pleasant and just listen.

Then when they are done, ask one of them a  question this way. "Hi my name is John, and you were talking about X, that's really interesting, can you tell me more about Y and Z."

Then when he or she is done, hand the person your business card and concurrently ask for theirs.

Bingo, you now have a new "Business friend" Stage-1 (you have just networked).

Then when you get home send them an email saying "Hello" and that way they have your email and you now have a Stage-2 "Business Friend".

Pop them an email every few weeks or so and say hello and you now have a stage-3 "business friend".

Then when you see them again at another networking event, "Say hello and ask them if they have been up to anything new". Easy Peasy.

Since it's not natural to you, focus on quality over quantity when you go an event, and when your burnt out leave, even if you only get one business card. 

Then go out and have a nice meal as a reward for getting even 1 card. Because the journey of 1000 miles begins with one step.

Good Luck!

Hi Garen,

Circuit breakers can get weak over time.

If it's that, an electrician can replace them easily.

It's also possible that the resident may be overloading the circuit and trying to pull too many amps.

Good Luck!

Hi Charles, 

It seems like he should turn it in to his insurance company and let them handle it.

(He) must have hit something, a rock, or a parking bumper. 

If you have a parking bumper that has heaved up above normal (or a pound down re-bar in one that has frost heaved up above normal) it seem like maybe you have fault. 

If the parking bumper is standard height and he lowered the car, or it's a factory low car (some are) it seems his insurance should pay.

If he hit a parking boulder type rock, then it was his driving that did it.

It seems like it might be pretty obvious if you have any part in this depending on what he hit, and if the car is lower than normal.

It still seems like he should turn it in to his insurance though.

That's how I see it.

Damage to the car’s under panel? 

OEM plastic or aftermarket?

Damage is pretty broad, is at a scratch, or shattered.

Is the car lowered, was he driving at the legal parking lot speed?

A lot can go into this decision.

It seems too odd of a request to be a shakedown.

Plus from a business standpoint some people cannot afford a lawyer (or have warrants and won't use one) and may "retaliate" in some way for a "perceived" injustice (just something to keep in mind).

Also, why won't his insurance cover this? (uninsured vehicle?)

Good Luck with your decision on this!

Hi Jacob,

It seems to me that (IF) Solar Panels were such a big bonus, that the State of California (a sunshine state) would not have to pass a law FORCING people to install them on new construction.

It seems to me that (IF) they were such a big plus, that the ALL new builders would self install them without being FORCED to do so. Like they do with Toilets and Front Doors, etc...

No one has to pass a law requiring (FORCING) everyone to invest in real estate (because the value is there, and people know it).

Without number crunching it out, those are just my thoughts on this.

Good Luck with your decision!

Hi Joseph,

As to your question ("I'd like some insight on how valuable having or creating a network of high income producing investors can be. Is being the individual with this network of investors a valuable component to a team? Long story short, is there value in not having a deal but having investors?").

This is my Layman's (not an attorney) understanding of how this works.

I do not believe you can be paid for putting an investor with a Syndication unless you are a certain type of licensed security broker, although you MIGHT be able to receive a percentage participation in the deal on the sponsor side--BUT that would be up to the Syndication's securities attorney regarding it's legality.

That is my understanding of how this works, and I am not an attorney, but before doing anything like this you should seek legal counsel--because the penalty for violating securities laws sometimes includes jail time.

There are both state and federal securities laws that could come into play in a situation like this, and with a syndication you really need to be squeaky clean.

So yes, there MIGHT BE value in it, but that is up the Syndication's attorney to make that decision.

Good Luck!

Hi Ashley,

To be able to put more money aside, you might want to think about getting a part time Temp job.

Some of them are very easy (and some are not).

Working after school lets out, weekends and summers for a couple of years might allow you to set aside a nice amount of cash.

Just my thoughts.

Good Luck!