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All Forum Posts by: William Glass

William Glass has started 11 posts and replied 101 times.

Post: Qualified Opportunity Zone Funds

William GlassPosted
  • Investor
  • New York City Fort Myers FL, Birmingham AL
  • Posts 105
  • Votes 52

@Paoola Sefair Did you ever get your question answered? I'm interested in setting up a fund.

Post: Establishing Opportunity Funds

William GlassPosted
  • Investor
  • New York City Fort Myers FL, Birmingham AL
  • Posts 105
  • Votes 52

@Etan Frankel did you ever get this question answered?

Post: Berkshire Hathaway Annual Meeting

William GlassPosted
  • Investor
  • New York City Fort Myers FL, Birmingham AL
  • Posts 105
  • Votes 52

@Collin Schwartz Did you post the details for the meetup this year? 

Post: College Real Estate Investing?

William GlassPosted
  • Investor
  • New York City Fort Myers FL, Birmingham AL
  • Posts 105
  • Votes 52

@Matthew Truty I agree with @Charles Long . Getting your real estate license may be the way to go. It isn't crazy expensive (even on a college budget) and you can learn the business and support other real estate agents on weekends or in your free time. You'll also get great exposure and learn a lot about the business.

It'll be a valuable learning experience and won't be unmanageable while in college. Think of it as an internship that could have outsized returns as you look to invest in the future.

Post: How do you become a millionaire?

William GlassPosted
  • Investor
  • New York City Fort Myers FL, Birmingham AL
  • Posts 105
  • Votes 52

I think Richard Branson says first become a billionaire and then start an airline...

Post: THE RECESSION IS HERE!!!

William GlassPosted
  • Investor
  • New York City Fort Myers FL, Birmingham AL
  • Posts 105
  • Votes 52

I'd add prepare yourself both mentally and emotionally. I think most everyone on BP gets the logical numbers part of investing despite a correction or recession.

Post: THE RECESSION IS HERE!!!

William GlassPosted
  • Investor
  • New York City Fort Myers FL, Birmingham AL
  • Posts 105
  • Votes 52

@Nick Rutkowski you must be on Robert Kiyosaki's email list. He sends a lot of "impending recession" and "recession is here" emails recently. 

As a fellow millennial, I wasn't at a point where I was actively investing leading up to and immediately following the last recession. I saw the mania first hand though through my family and family's friends and how the real estate market crushed them because the focus wasn't cash flow. I like to the think that I'll be smart enough to go on a buying spree and be ready when the market tanks, but let's be honest it is easier said than done to go against the grain. 

How do you prepare yourself mentally (not monetarily) to buy in the midst of a correction or recession?

Post: What would you do (and why)?

William GlassPosted
  • Investor
  • New York City Fort Myers FL, Birmingham AL
  • Posts 105
  • Votes 52

@J. A. Marin From my understanding (I am not an attorney, but do have a few in my family) for the best (legal) protection you should have a separate LLC for each property. In case you are sued or something happens with one having the separate entities will ensure that someone can't go after your other properties or assets.

I'm in a similar boat and have a duplex that is in my name that I have been wanting to transfer. Make sure to check with your lender before transferring to ensure you go through the proper procedures and you may need to update your insurance policy as well.

Post: Might Warren Buffett's just published Annual Letter apply to us?

William GlassPosted
  • Investor
  • New York City Fort Myers FL, Birmingham AL
  • Posts 105
  • Votes 52

How about Buffett changing up the format of the SHL due to the new accounting rules? 

It reminds me of appreciation in real estate throughout time. Before the '08 crash, the value of property soared and then post-crash it fell. As long as you purchased cash flowing property or weren't highly levered you were in good shape. The "value of the property" didn't matter if you were buying and holding for the long-term.

Granted in REI the fluctuations are much slower than the volatility in stock prices day to day, quarter to quarter. Still, the new accounting rules make Berkshire's balance sheet look more like Zillow's Zestimate bouncing around all the time.

I'm excited to hear what Warren and Charlie have to say at the Annual Meeting this year.

Post: Please help me analyze this deal

William GlassPosted
  • Investor
  • New York City Fort Myers FL, Birmingham AL
  • Posts 105
  • Votes 52

@Savannah Lewison Thanks for clarifying! That makes much more sense.

I also imagine you may be able to find a property manager for less than 11%. I did a similar house hack in Fort Myers with a duplex. When I first moved out I self-managed the property. Through the local REIA I met a property manager and now his company handles everything for 8% since we've known each other now for a couple of years.

Good luck!