All Forum Posts by: Steve K

My definition of wealth is vehicle that creates both time and ability. Having money work for me and not the other way around creates the free time to do the things I want and of course the ability to do those things.

Not having to think or worry about money is a nice result as well.

I've never stayed in Boca so can't really give any advice there. When i'm in that area I like to stay in Delray Beach which is about ten minutes away. There are a few chain hotels that are reasonable on Atlantic avenue and I think there is a Hyatt that is a block or two off of Atlantic.

Also plenty of good beach front hotels in Ft. Lauderdale as well.

Looks like a great conference. I may sign up for this one.

A bird in the hand is always good, but if you go this route you've just picked up a customer which has its own set of challenges. My experience is that customers in 90% of scenarios will bring you headaches and lower margins.

If you do go this route just make sure to get sizable non refundable deposits, especially if they pick unusual finishes.

Current goal is 30k / month with a net worth of $10mm but like most others here the number and the roadmap to get there will almost certainly change. I love doing deals and currently have a hard time seeing a full retirement ever happening.

I don't have ( or plan to have ) kids so there is no strong desire to leave a fiscal legacy behind. That makes me wonder how motivated I'll be years down the line when i have more than I'll ever be able to spend.

Strictly from a fiscal perspective it's not really worth the effort and expense to go this route with multifamily. You'll never have a system large enough to offset all of your tenants consumption and even if you did you would have significant issues assessing usage by meter.

That being said there are some other ways to deploy solar in a multifamily situation. The most profitable is creating a new revenue stream by building covered parking out of solar panels and using the generation to offset your common area loads. Win / win with a new income stream and lower landlord utility expenses.

If you can use the tax credits the solar carport avenue has an enormous return on investment if you can charge a decent rent for covered parking. I don't understand why this isn't on every single airport parking lot in areas that allow and compensate net metering.

I also calculate by sq footage under air. No basements here and 99% of houses have an attached garage so the calculation is pretty straight forward and easy to estimate when building new plans.

If this is in the out islands you can probably expect $300 per foot for a nice home. As of July 1st the Bahamas is adding a new VAT which I believe will increase the price of things 15%. Not sure how that affects duty on imported materials.

I'm not suggesting that he goes and just tries to re-zone any parcel. Obviously there has to be a higher and better use for the land. I didn't think this needed to actually be spelled out.

Every single multiple unit development parcel I've done has had to be re-zoned. Not sure I would call that rare.

Can you even buy deals that cash flow in the hottest market in the country? Why not look outside of Austin where things aren't so crazy?