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All Forum Posts by: Terry Miller

Terry Miller has started 0 posts and replied 172 times.

I am actually going to contact BBB about their rating for these scammers.

EDIT: I sent a very short email to president of the Utah BBB who handled their rating. This sort of thing irritates me to death.

There is a guy on DayTraders.com or some site asking us why are we playing with real estate.

There is a woman on BitCoins-R-Us getting on my case to jump in while it's still hot in digital currency.

And a Subway franchisee really let me have it the other day.

They are all "right" I guess.

Post: Mentorship Programs - value?

Terry MillerPosted
  • Akron, OH
  • Posts 178
  • Votes 189

I have a problem with people calling certain arrangements "mentoring" when you are really hiring them as a consultant/trainer. If I have to pay you, I am actually hiring you.

Oh, I have to answer the main question. Mentoring has the potential to provide immense value.

Post: Best strategy for motivated sellers?

Terry MillerPosted
  • Akron, OH
  • Posts 178
  • Votes 189

You are in a lovely little college town (I was competing in track in the same conference during undergrad, so I have been there several times). I am wondering what's preventing you from exploring some opportunities there with student housing.

Post: Typical rent increase per year

Terry MillerPosted
  • Akron, OH
  • Posts 178
  • Votes 189
Originally posted by @Thomas S.:

"Both approaches work."

Regardless of the soundness of your reasoning behind your chosen  practice you still must increase your rents every year to remain in business. 

Not going to argue back and forth on it, but you made your statement, and here is the rebuttal: for you to be correct, then every landlord who doesn't raise their rents every year WON'T remain in business. All I have to find is ONE landlord who doesn't raise their rents every year who is still in business, and your position is toast.

I already found multiple people. They are reading the thread.

I sometimes have a strange way of presenting things (private tutor for twelve years) but it brings home the point.

(Set of bank accounts = one checking and one savings account)

One set of bank accounts per state: Ridiculous!

One set of bank accounts per city: Not as ridiculous, but still not enough detail

One set of bank accounts per property: Perfect!

One set per unit: Really pushing it. The extra detail gained is not really worth the extra accounts

One set per room: WTF?!

Post: Crusty, dried-out, poopy toilets.......

Terry MillerPosted
  • Akron, OH
  • Posts 178
  • Votes 189

Send each of those toilets a "Dear John" letter.

You just explained it. I don't know why you thought you didn't understand it.

Post: Dumbest Thing you heard from another Investor!?

Terry MillerPosted
  • Akron, OH
  • Posts 178
  • Votes 189
Originally posted by @Jim S.:

A friend:

"Even if the market doesn't go up it's not going down here any time soon."

 Your friend must have talked to the same people I did when I was ten.

Post: Dumbest Thing you heard from another Investor!?

Terry MillerPosted
  • Akron, OH
  • Posts 178
  • Votes 189
Originally posted by @Linda Weygant:
Originally posted by @Terry Miller:

I heard this somewhere about forty years ago. It was repeated by several people. Even at ten years old, I knew it was wrong.

"Real estate always goes up."

Statistically speaking, this is true.  Individual markets, neighborhoods, blocks or houses, may not.  But in a general, statistical sense, this isn't necessarily wrong. 

 I am from a computer science/technology/business/education background. I put a premium on precise wording. If someone says "always" but it's actually not all the time, then it's not always. If the people back then had said "in general" or "usually" then I wouldn't have had anything to post forty years later. Alas, they said it dogmatically as always, and they placed no qualifiers on it as you did.

Just like if someone said "Postage always stays the same or goes up." Wrong. They had a rare decrease recently.