All Forum Posts by: Scott Mac

Hi Jaison,

It's not just what you know, it's who you know.

You have to make sure your getting in front of people with enough liquid cash money.

And people have to trust YOU with their money, and trust that you will not lose their money.

You have to seem trustable to them.

Just my thoughts on this.

Good Luck!

And as a side question--What's on the lunch menu?

HI Jarod,

I'd say avoid the stock market 100%.

What if things take a nosedive and you lose ether a percentage of your money or all of it.

(and things always do take a nosedive at some point, and you can never tell when).

Risk/Reward....

You have a good thing going, I'd say don't get greedy and risk losing any of it.

Just keep it in an FDIC insured product.

Other than that, you are relying on luck.

Keep socking your earnings away until you can invest it in real estate.

Cash is king, and why risk losing part of your savings for the promise of a "Few extra non-earned dollars".

Just my thoughts on this.

Good Luck!

Hi Jacob,

Is your uncle bankrolling you on the franchise part?

Scott...

Wow Roger that seems like a great move! Congratulations!

What a unique gem to have in your portfolio.

And a pretty interesting topic to talk about at parties too--might just get you some added Architecture business from being memorable and unique.

Good Luck!

Hi Darren,

One possible way for cash flows for example: Both investors get 12% APR return on their investment, once that is satisfied the working investor gets the rest (or 70% of the rest, or etc...) If the 12% APR is not hit, then it's just 50/50.

There are tons of ways to do this, but this way kind of lights a fire under the working partner to do his best.

Just my thoughts on this.

Good Luck!

Hi Ikaika,

The quickest way other than winning the lottery is to marry one.

Hi Tim,

The lower you go, the more possible rewards and the more probable the risks (personal and financial).

At the lowest end, it can be less costly to get into the business, but you get "tougher" tenants and possibly not much appreciation.

At the very top end there may be less risk and maybe less return (risk/return).

In the middle there is a spectrum between the two.

The question you want to ask yourself is how low in the tenant food chain do you want to go.

Good Luck!

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!