All Forum Posts by: Terry Miller

This fits into most of the things from business school: "it depends" since there is no one absolute correct answer for this.

The straight math answer has been given. Ms. Grumbach also mentioned the idea of a premium that would reward you for the work it took to get to the point of having $700,000 in net real estate assets. I recommend definitely getting a premium in addition to the $175,000 to compensate you for your risks and work in getting to this point. You will only get one bite at this apple, though, because going forward, you will be bound by the partnership agreement, and the equity will be 75%-25%.

I have learned this from life and professional experience, and I wish I was twenty-three (23) again to remedy the mistake: start hanging around people "like you" in your professional and personal life, as much as possible. If you are the only entrepreneurial person in your circle, you won't do as well as you could.

Online, you are covered, though. BiggerPockets Posse is happy for you.

Which is more ethical: to tell us his name to keep others from being harmed by his incompetence and obvious lack of professionalism, or to keep silent?

@Luke Chung is onto something. At only $525/month rent, and he has six (6) vacancies in this rent-controlled environment? There is something going on there he is not telling you.

Very motivational. It really drives home the point that many of these steps are basic. It's the effort that isn't basic.

For tech illiterates in this day and age, I think a check/money order in the mail is about as advanced as you can safely get.

All true. Thanks for the post.

Did she get a restraining order on the property manager? Why isn't s/he dealing with the situation?

"Handle it, Roy. Han'l it!"

And LLCs add some distance identity-wise, all the way up to complete anonymity in some US states.

That is a great way to put it, Ms. Beckstedt. It doesn't have any political, moral, or ethical stances in it.