All Forum Posts by: William Walker

 Sounds like you are wrong.  Like I said, I have crypto. I didn’t sell on this dip. 

The question of this thread was where would you park 10mil. It would be dumb to put it in to crypto. Smart to put it in something that pays dividends to live off. If a person isn’t happy with 10mil then they don’t have a healthy relationship with money.  Like the guy who said he’d put it on black (likely a joke). Ok so if the question was 5 mil he’d still say put it on black and then if he won he’d have 10. Would he be happy?  Obviously not because he said he’d put 10mil on black. So he’s never going to be satisfied. That’s not a healthy relationship with money. 

@Dan Hertler

@Zack Berridge

I'll give you a prime example of why you can't use % to calculate capital expenditure costs.  I own 2 homes in the same city.  They are almost identical in sq. ft.  One has a current market value of 250k and rents for $1500 (I bought for $134K years ago).  The other has a current market value of 120k and rents for $950 (I bought for $87k).  

If the AC goes out in one, it costs the same to replace the AC in the other.  Costs the same to put on a new roof.  Costs the same to put in new flooring.  

As much as I get tired of reading @Joe Villeneuve saying % is a lie and will mislead you, he is correct in this regard.  You need to look at each individual property, how old it is, what major repairs have been done and when, and what it will cost to do major repairs.  You should look at HVAC, roof, flooring, and appliances.  Siding if appropriate.  

Cashflow is what's left over after you factor in repairs, capital expenditures, vacancy, property management, principal, interest, taxes, insurance.

So it sounds like your not running numbers correctly - underestimating CAPEX which leads to over estimating cash flow. Cashflow is not a myth, the deal is made on the purchase and rent to make the numbers work. If you purchase too high or the rent isn't enough to leave left over after above mentioned expenses then you are correct, it doesn't cash flow.

Why not put something along the lines of “starting at $500/week” or whatever your lowest unit is? Similar to signs on new construction neighborhoods. 

….and you just lost 1.5 mil today. 😂🤣😂

I invest in crypto for a little fun but if I suddenly got 10 mil and had to park it in one spot it certainly wouldn’t be one of the most volatile forms of investment in all time.  

@Dominick Galinis

do you already know the exact property you want to buy?  If not, I’d keep shopping and getting to know the market. I’m not a fortune teller but the market is cooling off a little here. 
I’m with everyone else as far as advising against getting a loan to act as the down payment for another loan. 

I think what others were trying to say is that if you need a loan, to qualify for a loan that requires very little down, it doesn’t seem like you have the financial reserves to manage 4 tenants. If one thing goes wrong out of the gate are you going to get yet another loan???  I’d just slow down a little, there will be deals around in a couple months. 

@Noel Ortiz

What exactly are you looking for?  A contractor to help fix up the current trailer?  Permit for the second trailer?  A place to buy the second trailer?

I heard this on some program about people paying off debt. Take the amount you need to pay and create an excel spreadsheet of just boxes representing the amount you need to pay off. If you owe $10,000, create a sheet with 100 boxes. Every time you pay a $100 off the debt, color in a box. Gives you something to look at instead of just numbers and creates a personal competition to fill out more boxes. 
I do this with savings instead. For my last purchase I wanted to save $30,000. I printed a sheet with 300 boxes. Every time I moved $100 in to savings I colored a box. When I was going to buy something silly I’d move the money to savings and color a box. Had the sheet filled in less than a year, probably would have slowly taken me at least 3 years otherwise. 

Depends on how long to save to your goal.  6 months = put it in a regular checking/savings. 6 years….you can be a bit more aggressive such as stocks. 
my crypto account can lose 15-20% in a day.  I check it daily and it’s a roller coaster and I miss half the roller coaster by not checking it hourly. 
Silver has a base price/oz. You’re likely going to end up buying it above that price and selling it below that price so silver has to go up in value for you to break even. Plus if you’re buying it online typical shipping costs can add to your price/oz. 

The seller was the person who owned the unit and also ran the hair salon. She is selling the unit (to me) and the hair salon (chairs, mirrors, etc) separately. She has potential renters lined up who I’d have to screen on my own. 
Tenants would pay utilities. 
The space could be set up for any small business. It’s got an entry room (currently waiting room) a large room (4 hair chairs) two small rooms (storage/makeup room), bathroom, small closet. 
Taxes are $700/year

I’m unsure on upcoming major maintenance. From a quick inspection nothing appeared to need major repair.