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  1. JustAskBenWhy

    Grant Cardone "Buying a House is for Suckers"

    EXECUTION 
    MJ - Cardone is in the information business. Of course his delivery will be sensational in nature. What he says, therefore, needs to be discounted. However, having discounted his message, might there is still positive value in it...? At the end of the day, we can, as Jason apparently has...
  2. JustAskBenWhy

    Grant Cardone "Buying a House is for Suckers"

    EXECUTION 
    I am not presuming this at all, which is why I am under contract to buy. I picked up and went cross country because my kids were accepted into the school I wanted for them. And, I am staying put for a while for the same reason. Which is why I am buying a primary. However, understand who...
  3. JustAskBenWhy

    Grant Cardone "Buying a House is for Suckers"

    EXECUTION 
    That is a very primitive point of view :)
  4. JustAskBenWhy

    Grant Cardone "Buying a House is for Suckers"

    EXECUTION 
    Well, now we are getting somewhere... I agree - the best way to buy a primary is all cash. Why - because you are buying an aging depreciating asset, and an all equity position is simply the safest exit. The way to off-set this reality is through leverage by passing along the debt service, but...
  5. JustAskBenWhy

    Grant Cardone "Buying a House is for Suckers"

    EXECUTION 
    Interesting analysis, J. Now for a bit of intellectual honesty - how many out of 100 buyers are putting down 30% do you think? Perhaps 3? This means that your cash flow analysis is off...by a lot... Now - you may premise that unless one is able to put down 30%, one is not in financial position...
  6. JustAskBenWhy

    Grant Cardone "Buying a House is for Suckers"

    EXECUTION 
    Jason - that's the silliest thing I've heard from you...ever... That leaky faucet, clogged toilet, busted tile in the bath, flooded basement, cracked window, seized-up garbage disposal, etc. (and I am not even talking HVAC which some times breaks, roof which sometimes leaks, or any other big...
  7. JustAskBenWhy

    Grant Cardone "Buying a House is for Suckers"

    EXECUTION 
    Haha are you picking a fight, MJ? I sold several properties this year. In all cases I had to spend substantive money in order to sell...that's how that rolls. I've spent pretty sizable money on the other assets as well, between r&M and CapEx...that's how that rolls. Having property is a...
  8. JustAskBenWhy

    How To Value a Business?

    INVESTING 
    There is no value to e-commerce :) When we speak of value, we mean equity. With physical assets, even those that produce income, there is a back-stop - intrinsic value of the bricks and mortar/replacement costs. If income goes to hell, at least there is that... However, on-line...
  9. JustAskBenWhy

    Do you feel a barrier between you and 'regular' people?

    PEOPLE 
    I don't have any regular people in my daily inner circle - no time for nonsense!
  10. JustAskBenWhy

    What software do you use to help manage your personal finance

    INVESTING 
    QuickBooks for all non real estate companies and personal/ Excel for budget-building and financial statement reconciliation Buildium for real estate
  11. JustAskBenWhy

    Grant Cardone "Buying a House is for Suckers"

    EXECUTION 
    Unless you've owned property for at least 7 years, I am not really interested in continuing the conversation. Have you owned property, investment or otherwise, for longer than 7 years?
  12. JustAskBenWhy

    What do you drive?

    OFF-TOPIC 
    Can you guess what this is...
  13. JustAskBenWhy

    So here's the deal:

    LANDFILL 
    A bit too tired to care - you know, @Ricardo's ? Have you ever felt like you are going through the motions knocking the pins down, but at a certain poit...tired. Still doing my thing, but bored and tired... I think I might need a vacation for a couple of months.
  14. JustAskBenWhy

    So here's the deal:

    LANDFILL 
    I am bored... I don't do well when I am bored! I need to buy something, but I kinda don't want to compete with stupid... Any thoughts?
  15. JustAskBenWhy

    The Millionaire Fastlane, Russian Edition

    nice...mozno i porusski...lol @MJ DeMarco - did you know that you have a Russian in the house?
  16. JustAskBenWhy

    Do you have to pay a security deposit when buying a home?

    REAL ESTATE 
    No. Legally-speaking, from talking to my attorney, the offer to buy constitutes transfer of funds and is binding, and EMD is not a requirement by by law in most States as I am aware of. However, when you are making a low offer, probably not a bad idea :)
  17. JustAskBenWhy

    Grant Cardone "Buying a House is for Suckers"

    EXECUTION 
    Grant typically over-glamoureizes REI, and I told him so at one time on his show. But, in this case - he is right! The problem with ownership is 2-fold: 1 - costs go up every year. 2 - you are bound to one place. When buying a home, therefore, you have to alleviate these problems either via...
  18. JustAskBenWhy

    How to buy a house

    REAL ESTATE 
    This is not a project that you can attract a bank to. You are too risky, and so is the project... This doesn't necessarily mean that you shouldn't pursue. However, you statement that you know it's a good investment worries me. I would need to see much more to be convinced. Certainly, with...
  19. JustAskBenWhy

    Who quit a good-paying Slowlane job and is now a Fastlaner?

    NOTABLE! SLOWLANE EXECUTION 
    So - saw a FB Ad by @Justin Gesso for his book. There was a link to take a quiz - I did. According to Justin's quiz, I am a shitty entrepreneur, should quit RE, should quit IM, should not even think about sundicating apartments, and should instead go get a job...! Well, crap -- I thought to...
  20. JustAskBenWhy

    Increasing Price on my Course (CFFU)

    REAL ESTATE 
    Actually, all of that is true, and then some. Interesting question... In 2009 I needed to stop buying for several reasons. First, my wife was on bed rest with twins, so I was teaching my violin students as well as hers (at the point I was still teaching). Additionally, my portfolio had grown a...

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