All Forum Posts by: Vince Beusan

I have used Batch Dialer, it's user friendly and efficient. But it's costly, currently I am in the process of setting up ReiReply Power Dialer. I will share my experience once it's up and running

 Sorry for the late response. My notifications didn't come through to my email. I am a license holder with Air Ai for cold calling and integrating a full automation follow up in go high level. We do build outs for cold calling and Ai texting. We utilize this for different industries as well but our main niche is real estate since we are investors. Not sure if personal info is allowed here but look up nerdtech on youtube for some details on how it works.

We are currently using AI to do voice calling (whether it's a cold call list of unmotivated sellers or to reactivate our cold leads that already called in but didn't have the right motivation at the time).  We have an entire follow up automation for call campaigns with AI that shift into text follow ups based on timeframes and responses.  We have a few clients using AI for other industries such as mortgage, insurance and home services as well.  Costs a fraction of the funds compared to hiring a cold call agency.

This whole scenario scares me.  I'm a former wealth manager and this is a disaster in the making.  As stated before, there is no set it and forget it.  Real Estate Investing is running a business that requires ongoing management.  They don't have a clue - just a real estate porn version of how it works.  No one should be consulting with the wife...and he doesn't sound like he's equip to deal with her or an ongoing business.  

My recommendation is to:

1. set them up with the Trust Division of a bank/financial institution.  They need more than a financial advisor...they need that plus someone in a fiduciary role to enforce the terms of the inheritance in a way that provides benefit to all beneficiaries.  

2. remove yourself from the transaction after making the appropriate introduction to a Trust Officer.  There are legal and tax ramifications at play.  You can't win here...but you sure can be blamed, vilified, tormented.

Hope this helps...again, save yourself!

Thank you for your response.

The inheritor will create a Trust between him and his niece, outlining the fiduciary responsibility of the asset(s) in the event that he passes on.  As explained before, the mindset of 'set it and forget it' is not mine, but rather that of the inheritor.   I understand there is work involved in being a property manager, what I believe he (the inheritor) wants is to best maximize his inheritance by creating a positive stream of cash-flow for his lifetime.   

First off, this is way above the level of free internet advice. A financial planner and estate attorney are needed to be consulted for this. For $1.8M, spend a few dollars on professional. It can even be paid out of the Trust.

I'm very confused. I think what you're saying is that the guy gets to invest the $1.8M and receive the dividends from that investment. Then when he dies the niece gets the Trust assets which were producing the dividends? So the purpose of the Trust would be to two-fold, to provide money for the first beneficiary with the requirement to preserve assets for the second beneficiary. If that is accurate, there may be an extremely limited area of allowable investments. I'm a Trustee for a Trust whose purpose is the care of a person and preservation of assets. What I can invest in is crazy limited. If I deviate and lose money, I'm personally responsible for repaying that loss. 

Assuming that he has freedom to invest in a variety of assets, rentals is not necessarily it. The "set and forget" attitude is laughable. Rentals is a job. Re-read that sentence. It is a job. You can pay a Property Manager to handle the stuff for you, but that costs 10% or so. 

$5500-$6000 a month cash flow seems low on a $1.8M investment. That's a 3.6%-4% annual return. A diversified bond fund should easily beat that. There are REITs that return much more than 4%. Could do hard money loans at 10% + one point and get a great return. 

There is no "set and forget" if you own real estate. Does not matter if you have a PM or not. They can spread the money over a number of syndications for an example of 'set and forget'. The inheritor needs to talk to his accountant for starters. Owning individual houses, duplexes etc. Is a great way to make money if you are prepared for the considerable learning curve and the work involved.
All the best!