Livin' La Vida Luna y Luca
Week Ending 9/15/24
A few things worth mentioning this week...
New Deal
My buddy, DG, found a house on Upper Greenwood Lake in Hewitt, NJ.
It's an ultra-hoarder property that needs a gut renovation.
He gave me the option to invest as a lender (debt) or partner (equity).
At the 11th hour, I chose to contribute my capital as debt. My return will be fixed and capped, but I'm 2nd in the capital stack.
Time will tell if I made the right decision. FWIW, I hope I'm wrong.
Eviction
It's been a while, but we found ourselves in court again. This guest has been staying with us since COVID. 😮
Their past-due balance is ~$5K. We came to a no-pay, no-stay agreement if they leave on or before September 30th, 2024.
During the proceedings, I learned the resident worked in construction and lost his job a few months ago.
After we left the court house I tried calling him to offer him a job, but he didn't answer.
I didn't reach back out after this.
In my defense, we try not to engage with tenants during court hearings because we're too soft. Our lawyer does the talking for us...
Which is funny because we try very hard to communicate with the tenant before going to court so we can avoid that situation altogether.
They don't want to talk to us before. We don't want to talk to them during or after.
🤷♂️ Shitty Situation.
Claude
Super random, but I signed up for Claude by Anthropic this week. It's a ChatGPT competitor and at $20/month it's pretty legit.
I uploaded the actual financial performance of a rental property I'm looking to buy and then we came up with a pro-forma together. Then it helped me determine a renovation budget and we used all of that information to determine an offer price.
It was like talking to an accountant, financial advisor, and real estate expert rolled into one.
DEXA ✅ + Blood ☑️
I got my DEXA scan done on Friday. I'm happy, but not satisfied.
I'm also getting my bloodwork done this upcoming Tuesday. Eager to see the Lipid Panel.
Will share the results of both in my Q3 review the first week of October.
CleanMyMac X
I found this Pro-Tool for Macbook Users.
It helped me free up ~30 gigabytes of storage on my laptop.
What I'm Working On...
Whenever you're ready, there are 3 ways I can help you:
- Templates: I use a lot of customizable templates in my business. You can download them for free (pay-what-you-want) on my Gumroad Page.
- Consulting: If you're stuck in your business or real estate-related activity, I might be able to help. Book a call with me today. If you hate my advice more than stubbing your toe on the leg of your dining room table, there's a 100% no-questions-asked money-back guarantee.
- Passive Income Opportunity: I help people convert their excess active income into passive income with a strategy called Private Money Lending. If you have $100K+ in liquid assets, book a call with me to learn more.
