In continuing my series (???) on terrible home remodeling decisions, I present you with this gem I came across on the BRRRR Invest Facebook group: As incredibly stupid as that looks, it would have taken a lot of time and energy to put together. And it was done well for it's worth. So much time and craftsmanship for such madness. While Donald Trump is still in office, I should probably end this with a SAD! ...But it kind of reminds of this house we bought from a bank after they foreclosed on the guy who I presume was a meth head. I mean, this is a lot of work. And yes, those are all those little wood pieces you find in wood pallets and what not: And no, that's not the standard way to do drywall. Nor is this the standard way to make a shed:
Comments
With all the partisan bitterness interspersed around this never-ending pandemic and its concurrent economy-destroying lockdowns, we've been at a loss for good news for quite some time. While this study is only regarding mice, it may be that we end this godawful year with some unequivocally good news. From the University of California San Francisco, Just a few doses of an experimental drug can reverse age-related declines in memory and mental flexibility in mice, according to a new study by UC San Francisco scientists. The drug, called ISRIB, has already been shown in laboratory studies to restore memory function months after traumatic brain injury (TBI), reverse cognitive impairments in Down Syndrome, prevent noise-related hearing loss, fight certain types of prostate cancer, and even enhance cognition in healthy animals. Of course that's a long way from being a cure for humans, but it's quite encouraging.
I would definitely be a huge game changer if brain injuries and age-related cognitive declines could be reversed or even stopped entirely. Hopefully something big will come of this research. We shall see. Spoilers: It's sleep. Sleep more and sleep better. That's the topic of my new article for BiggerPockets, which admittedly, doesn't have a lot to do with real estate investing. But regardless, better sleep will improve every part of your life, and if part of your life is investing in real estate, than that part will be improved too. The article reviews the great book Why We Sleep by Matthew Walker. Page one basically explains why this is so important, “Two-thirds of adults throughout all developed nations fail to obtain the recommended eight hours of nightly sleep. So make sleep a priority folks! (But while awake, check out my article. Thanks.)
So I had this absurd conversation on Facebook with this Leftist who is always in muh mentions. This guy has said the statue of Thomas Jefferson should come down and defended the softcore pedophile porn movie Cuties, but somehow thinks it's just everyone else who's being unreasonable. My first post was just mocking the failed experiment of CHAZ and the new one in Portland some nutjob leftists are setting up.
Mainly I was just noting it was nice moderate liberals could finally act that way now that they didn't have to countersignal Trump as Ted Wheeler promised not to tolerate "RHAZ." (Although Wheeler isn't that moderate, but he did beat a communist, so there's that.)
First I got a response from a hardcore, but still reasonable liberal, Id like to think moderate republicans could act as such too, but at least in my social circle, they all changed their party affiliations because of Trump.
The fanatical liberal then chimed in "There are no moderate Republicans." This seemed so obviously false I (unwisely) chose to chime in,
As far as politics goes, both sides are moving further apart, which is a bad sign. but it would seem the left has moved a bit further away from the center than the right. The chart below is from Pew.
Thankfully, the fanatical liberal was there to enlighten me.
cool graph.
Why do I feel the need to argue with such idiocy? I don't know, but I do I guess. My response,
Woah bud, thanks for explaining reality to me.
It takes a rather enfeebled mind to believe that someone pointing out trends thereby approves of them, or in this case opposes them. I oppose some of this (like "transitioning" seven year olds) and support some (like legalizing marijuana). But any challenge (even observational) of leftwing hegemony is heresy. His unhinged, semi-coherent response:
Holy shiz, I have to stop you right from the jump!
This guy later accused a conservative who jumped in of lacking empathy because he made fun of equating cutting a kid's penis off with "human rights.
A friend pointed out to me during this that there is absolutely no point to argue with such idiots. It's just a mental suck. And it is. It's infuriating. "Why is gay marriage a liberal issue?" Uhhh, because it has been you fucking idiot. Why is "preserving our God-given right to bear arms" a conservative one. Because it has been. You just have to let it go. Indeed, I've gone round and round with him on Hillary Clinton's emails (he's always the one who brings them up) and he always talks about Colin Powell. I've repeatedly shown that excuse fails, but he just ignores it and brings it up again. He did the same thing here with the crack/cocaine difference in sentencing. Black leaders supported that discrepancy as did white leaders as the book I referenced showed. But just ignore evidence and ragepost appears to be the far left modus operandi these days. My glib response. Good God David this is such shill partisan hackery it's embarrassing. I think I'm gonna go ahead and disengage before wasting anymore going around in circles on this.
Then came the kicker:
Sorry to tell you, but the things you're claiming are "liberal" ideas are quite often just human rights.
While this conversation wasn't enlightening at all because of the incoherence of my debating "partner," this line was worth it.
It's an admission that I was right. We are moving to the Left culturally. But because the Left is good (and just wants "human rights") while the Right is bad (and just wants people to die in the streets or something) then we can just take for granted that any Leftwing victory is pure good with no possible objection and any Rightwing victory (real or imagined) is 1930s Germany all over again. Unhinged stupid bullshit, yes. But that seems to be the growing consensus of how to think on the Left. I wisely turned to simply mocking him with a well-timed laughing emoji and turning his script around: Sorry to tell you, but conservative ideas are quite often just muh freedom and loving 'Merica.
Needless to say, the partisan disconnect in the United States is getting worse and dialogue is becoming more and more difficult. It's basically impossible with the likes of these people.
If you are thinking of buying a piece of property, you must look for a bank that offers you a good rate for long-term financing. As a matter of fact, you must secure long-term, low-leveraged debt to make real estate investing work for you.
Credit:Ensure that you do not have a bad credit record. If your credit isn’t great, it might be a good idea to partner up with someone who has a good credit record. You will need to get a job or a partner to ensure that you have good credit.
In addition, you need to focus on getting your accounting in order, especially if you are the owner of some other properties too. Jumbled up accounts can be troublesome. Checklist:Below are the key items to look for when seeking a lender before you finalize the loan:
You must look for banks who are willing to lend to investors. Some of the best places to ask for referrals are:
For more, please subscribe to our YouTube channel.
It's always nice to get that dopamine hit from having your biases confirmed. I got a lot of grief (although substantially more support than grief) for our video (and my BiggerPockets article) about why we're moving to California (so we can leave California). Well lookie here,
SpaceX and Tesla CEO Elon Musk said Tuesday that he has moved to Texas, confirming months of speculation that the billionaire would leave California, a state of which he has become increasingly critical. Musk confirmed the move during an interview at the The Wall Street Journal’s CEO Council annual summit.
So Elon Musk joins Joe Rogan, Tim Ferris, Graham Stephan and a bunch of others who are "leaving California" or have left. Given the insanity of California politics, I expect this trend to continue.
By the way, here isour video California: I found this article quite interesting, especially since it was written three years ago before Covid-19 started wrecking urban areas like New York and San Francisco. Basically, it would appear suburbs are where the growth is and urban areas are not, In the last decade, about 90% of U.S. population growth has been in suburbs and exurbs, with CBDs accounting for .8% of growth and the entire urban corps for roughly 10%. In this span, population growth of some of the most alluring core cities — New York, Chicago, Philadelphia — has declined considerably. Manhattan and Brooklyn, have both seen their rate of growth decline by more than 85% since 2011. Nationally, core counties lost over 300,000 net domestic migrants In 2016 (with immigrants replacing some some of those departees), while their suburbs gained nearly 250,000. Furthermore, suburbs aren't as bad as many make them out to be, Dense urban living has been linked to many new diseases (including psychosis, cancer, and cardiovascular disease) over the past decade, and new research contradicts the old narrative some architectural and urbanists are still spreading about the supposed healthiness of city living. Research shows that proximity and exposure to parks and outside spaces is linked to better health outcomes and life expectancy — and that the best place for most people to have this is in suburbia, given how difficult and expensive it would be to dramatically expand park spaces in densely populated cities. The author, Joel Kotkin, also makes the point that suburbs aren't as bad for the environment as many people think (more trees, open space, etc.).
I'm not a huge fan of the endless, sprawling suburbs. Commute times and their repetitious monotony is dreary. But Kotkin makes a good case. And especially with Covid-19's impact, I suspect surburbia to continue apace. I've been writing a lot lately; on BiggerPockets, ThinkRealty, REI Club and The BiggerPockets Magazine (as well as posting videos on our YouTube channel). But I've also been writing some posts for MAREI, the Midwestern Association of Real Estate Investors website.
Some of which include:
So make sure to check some of those articles out and if you're in the Kansas City area, come join us at MAREI (although I think it's still virtual right now). The articles also contain our YouTube videos, so make sure to check those out and subscribe to our channel as well.
One bad deal can cost you several good ones in the future, which is why it is best to get them right each time. To ensure this, you need to carry out due diligence properly to avoid a deal going wrong for you.
Forming a Process There is a need for a process creation that will guide you on the necessary steps to take, and a standard checklist looks like this:
If the house is rented out, then you need to get a copy of the lease, proof of deposit, rent ledger, and operating statement for the last year. Physical Due Diligence It doesn’t matter if you have walked the property before making an offer, you need to do it again and more thoroughly this time to get all the details. Check the utilities to see if they work or not and if you need to make adjustments to your rehab budget. Inspections It is recommended that new investors hire a third-party inspector. This can help with a re-trade too (if necessary) as it lends credibility to your request. Inspections can also show defects that you may have missed on your personal inspection. If you’re an experienced investor and have done a detailed walkthrough yourself, then you could consider foregoing a third-party inspection. But I would add a contingency to your budget for things you might have missed during the walk-through. Conclusion Bad deals can kill your momentum. Luckily, they can mostly be avoided by carrying out proper due diligence. So do it! Previous Episodes - How to Manage Collections and Delinquency - How to Find Banks for Your Investment Properties - A Crash Course on Building a Buy and Hold Real Estate Business - Is the Economy on the Edge of a Cliff??? How Should Real Estate Investors Respond? - An Introduction Into Buying Portfolios -Why Buy and Hold is So Powerful - In-House or Outhouse Management - Doing Maintenance Right - Moving to California? -What to Do When a Tenant Calls at 2:00 AM | A Guide to Emergency Maintenance And don't forget to subscribe to our Youtube channel! So as all five (?) of you who frequent this blog know, I write a lot for BiggerPockets. (You can see my archive of over 200 articles here.) Well, last month (for the October/November) edition, I wrote a long, 4000+ word piece on due diligence titled "Due Diligence Done Right" for their new magazine. It's definitely worth checking out in my humble opinion: The piece covers much of the same ground I discussed in my long article from a few years back, but it's worth reading itself.
To subscribe to the BiggerPockets Magazine and get a digital copy of all the old copies here. And P.S. I should have another article coming out (on buying portfolios) probably in January. So keep your eyes out for that one! |
Andrew Syrios"Every day is a new life to the wise man." Archives
November 2022
Blog Roll
The Real Estate Brothers The Good Stewards Bigger Pockets REI Club Meet Kevin Tim Ferris Joe Rogan Adam Carolla MAREI 1500 Days Worcester Investments Just Ask Ben Why Entrepreneur Inc. KC Source Link The Righteous Mind Star Slate Codex Mises Institute Tom Woods Michael Tracey Consulting by RPM The Scott Horton Show Swift Economics The Critical Drinker Red Letter Media Categories |