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  1. LagunaLauren

    Live a great life on less than $200K/yr?

    OFF-TOPIC 
    Lots of legal ways to live well on less/"control everything, own nothing" with leverage. For example, a friend of mine bought a commercial property (office space) with one of his companies for just over $7Million. His monthly payment is just under $50k a month. Another one of his companies...
  2. LagunaLauren

    Meet the new Mascot for our B&B!

    My vote is for "corky" too. Memorable and not too contrived.
  3. LagunaLauren

    Need advice...

    A couple of questions so we can better understand what you're doing to hopefully give advice. 1) You're looking for "buildable lots"-what are you doing with them? 2) What kind of a mailing list do you have? Short Sale/Pre-foreclosure/foreclosure list or just property owners with desirable land...
  4. LagunaLauren

    Telling the New Tax Hikes to F*ck Off

    HOT! TAXES | REGS 
    I have LLCs that are taxed as S-Corps. Was recommended by my attorney and CPA. (They're in the same office, so they put their heads together for good solutions, legally and financially).
  5. LagunaLauren

    Getting pre-approved for rental property

    REAL ESTATE 
    I did my self-directed RE IRA through Guidant Financial (guidantfinancial.com). Not sure if they have those mixer thingys, but it's a great idea to find people with money to lend through that avenue!
  6. LagunaLauren

    Telling the New Tax Hikes to F*ck Off

    HOT! TAXES | REGS 
    Re: Telling the Obama Tax Hikes to F*ck Off I don't know that it's "interesting" as much as it is "nauseating". Seriously, this is giving me a tummy ache...sux MJ-Feel free to share your "defense" strategies against these new tax hikes on us!
  7. LagunaLauren

    real estate fastlane?

    REAL ESTATE 
    In my opinion, slowlane is spending more time trying to save money rather than spending time making money. (I am NOT a coupon-clipper! Nor do I pay attention to the price of gas or food.) Slowlane is being too conservative financially, like paying off your primary residence early, (yes, in the...
  8. LagunaLauren

    Getting pre-approved for rental property

    REAL ESTATE 
    Agreed that no one is completely protected from personal lawsuits. Gotta do whatever you can to protect yourself as much as possible. Lots of litigious people out there. I don't currently have a series LLC but have been meaning to ask my attorney more about it. And yes, it is a pain in the butt...
  9. LagunaLauren

    100 Reasons to join the Fastlane

    NOTABLE! MINDSET 
    117. For the resources and ability to be ridiculously philanthropic. To be able to genuinely help others who are less fortunate. For the ability to leave this world better than when I entered it. 118. For my wealth to continue to help people long after I've left this world. 119. To create an...
  10. LagunaLauren

    real estate fastlane?

    REAL ESTATE 
    More power to you, BuffaloBill! I love how you turn a perceived "adversity" into an "opportunity"! That's exactly what it takes to become a millionaire. I'm impressed. Rep Speed +++
  11. LagunaLauren

    Getting pre-approved for rental property

    REAL ESTATE 
    Laws may vary from state to state, but a LLC is just that-Limited Liability. If the deed to a property is in an LLC, then if someone drowns in a pool on that property, (god forbid...), then I am not personally responsible. I carry a lot of insurance on my properties, but as a worst-case...
  12. LagunaLauren

    Getting pre-approved for rental property

    REAL ESTATE 
    I bought all my properties personally and then had my attorney put the deeds into separate LLCs for my personal protection. (So my tenant can't sue me personally if they slip and fall, etc...). Check on the laws in your state, but protect yourself from any frivolous law suits when dealing with...
  13. LagunaLauren

    Commercial Real Estate For Dummies...

    REAL ESTATE 
    Oh yeah-and I would start window-shopping properties on LoopNet.com. It's free and gives you access to all kinds of properties for sale in every area. (houses, dulplexes, commercial, apartment buildings, etc.). Start looking at all the numbers-taxes, maintenance, insurance, repairs, vacancy...
  14. LagunaLauren

    Commercial Real Estate For Dummies...

    REAL ESTATE 
    sswift-Yeah, don't listen to the people who say you can't get into real estate with no money. I never listen to anyone who says I can't do something. I think most people got started in RE with little or no money. There are always ways. My best friend started with a $240k house while he was a...
  15. LagunaLauren

    Commercial Real Estate For Dummies...

    REAL ESTATE 
    1) First steps I took before investing were definitely read, read, read. So many people have done what you want to do. Learn as much as you can from them. It will minimize learning the hard way in practice. I bought my first property with a loan from my parents. It was my first primary...
  16. LagunaLauren

    Car dealing fastlane potential?

    My understanding is that dealing cars will not make you rich, especially in used cars. I've negotiated large national contracts for new car dealer groups and have learned a lot about profits for dealerships. New car dealers don't make much money on new car sales (typically 1-2%). They make...
  17. LagunaLauren

    Bought a New House

    REAL ESTATE 
    Congrats! 6% is a GREAT rate for a carry-back! Best of luck with the property.
  18. LagunaLauren

    Is there such thing as carefree life after 21?

    FTE 
    As a side note, I can say that the multi-millionaires I know who have worked for their own fortunes seem to truly be happy. The ones I know who have inherited millions seem to be an unhappy mess; irresponsible, drugs, alcohol, etc. Not that this is true for everyone, of course, just my immediate...
  19. LagunaLauren

    Is there such thing as carefree life after 21?

    FTE 
    WOuld be funny if it was. Jim bought this yacht a few years ago when he sold another one like just as big called Voyager. Don't know if Shogun has any theatrical history. He did remodel it completely on the inside, including a real shogun suit of armor in a glass case. (?)
  20. LagunaLauren

    Is there such thing as carefree life after 21?

    FTE 
    Here's a little inspiration for ya. Two of my friends' yachts, Shogun and Sojourn in Newport Beach. Still think more money means more problems? (Oh, and Shogun, the one in front, is sometimes chartered for over $60k+ a WEEK. His luxury toy generates an income for him when he's not using it...

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