All Forum Posts by: Scott Mac

Hey Joe,

Flat roof leak detection can be hard because the leak may be some distance away from where the water intrusion shows up inside the home.

A wall that is on the face of the building higher than the roof and the roof comes up and rolls up the wall aways And is sealed there. 

The front wall may be the source of your leak, With the water running back underneath the roof inside the rafters And making spots on the ceiling further away from the wall.

You want to be told how to buy 167 doors (for keeps) in 5 years, starting with 50k?

This business does not work that way.

That is old infomercial sales hype to sell get rich quick kits to the unsuspecting public.

Good Luck!

Supply and demand.

If there is a shortage of housing you can charge more rent.

Your turns will be shorter.

If they build more housing your renters are going to go and live there. 

If you own a 7 Eleven- Do you want an 812 on the opposing corner, and a 913 right next door to you, and a 1014 down the block all within walking distance of each other?

Instead of trying to solve something which may not actually exist.

It might be more wise to think more on entrepreneurially, and wait to see what happens- and look for ways to exploit that solution in ways that can make you money.

Because it seems like whenever they pass things there are always loopholes left in there, some of which are attractive to a lot of people, and some of which are only attractive to some people.

Solving this problem is not going to put a new Mercedes Benz in your garage, But if you are clever enough thinking entrepreneurially might just do that.

Just my 2 cents.

The value of the living trust comes to whoever is appointed trustee when you are gone.

That person will most likely need the assistance of the attorney who formed the trust for you, to be able to accomplish the things that need to be accomplished- legally- so that they have the proper legal effect after your passing.

Some individuals get along with other individuals interpersonally in a more comfortable manner- that is something that you might want to factor into your choice also.

The formation process (work) for you no matter who you use will probably be quite similar no matter who forms it.

What I'm saying is you're looking for service after the sale too.

There will be assets that need to be added to the trust as time goes by and perhaps removed from the trust as time goes by, and perhaps a divorce situation might take place requiring trust adjustment- as well as after passing advice and guidance that will probably be needed by whomever the trustee is at the time.

Those things add up to billable fees also once the trust is established.

Find out what is included in the price that you were quoted from each practitioner- because you may not be making an apples to apples comparison based on just the prices- although they might all be offering the same thing at different prices.

Good Luck!

Find an attorney in your area who does Revocable living trusts and discuss your situation with that person.

Also discuss with your tax person if there are any type of tax hits you will take if you transfer the ownership from yourself to the living trust- state taxes as well as federal.

A will can sit in probate for awhile, quite awhile. A living in trust could speed the transfer process up possibly.

Good Luck!

 Hey Don,

How does your age factor into this?

Are you looking for more cash in hand to boost your lifestyle?

A luxury yacht or a dream car or something?

An empire, wow!

I know a man who built an empire starting from absolute nothing.

He started by buying an empty lot and building a small two story office building on it out of concrete blocks.

He laid all the blocks himself, and did all the work himself on the building. He started when he was 19 years old. It took him a few years to finish.

He used no bank loans, just income from a regular job while he lived with his parents.

By the time he retired he owned several businesses, several bars, and several restaurants- including the real estate under them.

It can be done. 

Good Luck!

Have you tried calling the local police department, or sheriff's department, or the Texas Rangers depending on where this theft took place.

I would assume you will need a police report to file an insurance claim on theft.

And how do you know it was this guy that took everything. Sometimes things are left on the work site and local hoodlums sneak in and take them.

Have you talked to him about it?

Texas Ranger: https://www.youtube.com/watch?v=gMPr9rchJMs

You bought this with only $30,000 ??????

Maybe you could fill us in on the particulars of the deal.

This place looks really nice.

You bought 168 units for 30,000 out of pocket?????

Be careful of hyperbole.

To invest, when the rubber hits the road you need traction. 

Traction is cold hard cash money seasoned in a bank account.

Cash Accumulation is the most needed thing for many people.

You cannot invest what you do not have.

Initially before you invest, your success is measured by how much you have in (for instance) your Vanguard Money Market Fund, or an FDIC insured Money Market account, or stuffed inside your mattress, etc...(whatever it is you use).

Some people borrow against their personal residence with a HELOCK for this needed cash, but I've seen those go bad in several instances, and the results were not very pleasant for the borrower.

In many instances working a second job can allow you to set aside cash, or you might inherit it, or find a cash filled partner.

But the bottom line is, initially your success is measured by how much cash you have to invest.

And be careful of Hyperbole.

Good Luck!