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Project: BellaPippin | Real Estate, Social entrepreneurship, Art and YouTube, and who knows what else

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BellaPippin

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The nice thing about having videos ads, is that you can create Lookalike audiences of people who watched your video 50-75%. I am talking about fb ads.

These type of audiences are usually very high ROI.

I've learned a lot about it from adespresso website, a lot of useful articles, and easy to understand guides.

Sorry I'm slow. So you are saying a video ad on FB with some of the course footage? Aren't those ads already targeted? What's a lookalike audience?

Edit- I'll go check that website thank you! <3

Edit2- I just devoured the guides they were super helpful! I'm going to run some video ads to the right audiences and see if that performs better.
 
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Sorry I'm slow. So you are saying a video ad on FB with some of the course footage? Aren't those ads already targeted? What's a lookalike audience?

Edit- I'll go check that website thank you! <3

Edit2- I just devoured the guides they were super helpful! I'm going to run some video ads to the right audiences and see if that performs better.

Sorry to jump in, just saw this! A lookalike audience is a FB-generated audience based on an existing audience (e.g. people who engaged with a piece of content, who watched a video, etc.). They are supposed to be similar, so you should see even better results from a more targeted audience!
 

broswoodwork

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Sorry I'm slow. So you are saying a video ad on FB with some of the course footage? Aren't those ads already targeted? What's a lookalike audience?

Edit- I'll go check that website thank you! <3

Edit2- I just devoured the guides they were super helpful! I'm going to run some video ads to the right audiences and see if that performs better.
Sorry to jump in, just saw this! A lookalike audience is a FB-generated audience based on an existing audience (e.g. people who engaged with a piece of content, who watched a video, etc.). They are supposed to be similar, so you should see even better results from a more targeted audience!
I think I'm seeing a potential synergy here.
 

BellaPippin

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Sorry to jump in, just saw this! A lookalike audience is a FB-generated audience based on an existing audience (e.g. people who engaged with a piece of content, who watched a video, etc.). They are supposed to be similar, so you should see even better results from a more targeted audience!

Thank you! So from what I've read from this two guides so far, I've learned about cold-warm-hot and what you show to each, types of ads etc. I've just discovered the ad manager and connected the instagram, I've identified some different audiences and I'm thinking a video ad would perform better, like a piece of the trailer video of the course ...I could see if with the video showing the course a 10 coupon giveaway would convert better and give me some more reviews... and the people arriving after might just get it? Since udemy always puts it at 9.99 anyway lol-- or a different ad running simultaneously without an offer
 
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broswoodwork

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Sorry to jump in, just saw this! A lookalike audience is a FB-generated audience based on an existing audience (e.g. people who engaged with a piece of content, who watched a video, etc.). They are supposed to be similar, so you should see even better results from a more targeted audience!
Can a look alike audience be built on fb from an email list someone put together on another platform?
 

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Can a look alike audience be built on fb from an email list someone put together on another platform?
Yes, I believe that was the original look alike audience. The list needs to be of a certain size or bigger to be of value. I want to say 800+ names but I'm not sure.
 

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Shit... I'll be like 35 names short. :arghh: Think I can just fill it in with randos without blowing up the effectiveness?
Just keep it like it is. It just get better with more names
 

BellaPippin

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@CareCPA if you could give me your thoughts on this I'd appreciate it:

Got $5,500 on my previous work 401(k) that haven't rolled over yet. Cashing it would put me at $14k savings, along with the first home owner grants/help I might make my goal of being close to $20k available to purchase my multifamily. What would be best? :

1)Cash it, get 5k after the 10% penalty and see if the mortgage interest deduction helps me balance the taxes on it at the end of the year
2)Take a loan against it (but that's gonna mess up my debt to income ratio as I will have a loan)
3) @ZCP mentioned self-directed IRAs where I can use the funds to invest on the property directly?
 
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CareCPA

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@CareCPA if you could give me your thoughts on this I'd appreciate it:

Got $5,500 on my previous work 401(k) that haven't rolled over yet. Cashing it would put me at $14k savings, along with the first home owner grants/help I might make my goal of being close to $20k available to purchase my multifamily. What would be best? :

1)Cash it, get 5k after the 10% penalty and see if the mortgage interest deduction helps me balance the taxes on it at the end of the year
2)Take a loan against it (but that's gonna mess up my debt to income ratio as I will have a loan)
3) @ZCP mentioned self-directed IRAs where I can use the funds to invest on the property directly?
Sure thing!

With #1, and the little I know about you, the mortgage interest deduction probably isn't going to help you.
In taxes, you can take the standard deduction or itemized deductions. Mortgage interest is an itemized deduction (along with real-estate taxes, state taxes, and charitable contributions being the biggest factors).
The standard deduction is $12,400 for 2020. This means for the mortgage interest to benefit you at all, the sum of your itemized deductions needs to be over $12,400 ($24,800, if you happen to be married). This is a high threshold for most people to get over.

#2 is an option depending on your 401k plan. However, you're limited to 50% of your balance, or $50k, whichever is less.

#3 will be tricky. You can invest with a self-directed IRA, however, there are self-dealing rules you need to be aware of. You essentially can't manage the property or do the work yourself. If I remember correctly, you also can't personally guarantee the loan or mix personal funds without some massively complicated tax ramifications.

So I really see two options here: roll the money into an IRA and forget about it, or cash it out and eat the penalty/taxes. It depends on how badly you need the money and what your return on investment will be compared to the penalty you'll pay.
 

BellaPippin

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Sure thing!

With #1, and the little I know about you, the mortgage interest deduction probably isn't going to help you.
In taxes, you can take the standard deduction or itemized deductions. Mortgage interest is an itemized deduction (along with real-estate taxes, state taxes, and charitable contributions being the biggest factors).
The standard deduction is $12,400 for 2020. This means for the mortgage interest to benefit you at all, the sum of your itemized deductions needs to be over $12,400 ($24,800, if you happen to be married). This is a high threshold for most people to get over.

#2 is an option depending on your 401k plan. However, you're limited to 50% of your balance, or $50k, whichever is less.

#3 will be tricky. You can invest with a self-directed IRA, however, there are self-dealing rules you need to be aware of. You essentially can't manage the property or do the work yourself. If I remember correctly, you also can't personally guarantee the loan or mix personal funds without some massively complicated tax ramifications.

So I really see two options here: roll the money into an IRA and forget about it, or cash it out and eat the penalty/taxes. It depends on how badly you need the money and what your return on investment will be compared to the penalty you'll pay.

Thank you! Yes you're right-- I never get more itemized deductions than the standard deduction.

I'll look into the self-dealing rules and if that isn't an option I'm just going to get the cash.
 

MTEE1985

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Thank you! Yes you're right-- I never get more itemized deductions than the standard deduction.

I'll look into the self-dealing rules and if that isn't an option I'm just going to get the cash.

@CareCPA was spot on about those. You cannot invest in real estate that you or any relatives are going to live in using a SDIRA. Investment property yes, but a house hack, no.

I’d caution you against cashing out the 401k as you’ll get hit with a mandatory 20% withholding as well as the 10% penalty.

Best approach I can think of, and I know you’ll do your homework, you can rollover the 401k into an regular IRA. Withdraw it penalty free because it is for your first home purchase, and you can dictate the tax withholding at that time which is typically 10%. Should allow you the full $5,000 after all taxes/fees.
 

BellaPippin

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@CareCPA was spot on about those. You cannot invest in real estate that you or any relatives are going to live in using a SDIRA. Investment property yes, but a house hack, no.

I’d caution you against cashing out the 401k as you’ll get hit with a mandatory 20% withholding as well as the 10% penalty.

Best approach I can think of, and I know you’ll do your homework, you can rollover the 401k into an regular IRA. Withdraw it penalty free because it is for your first home purchase, and you can dictate the tax withholding at that time which is typically 10%. Should allow you the full $5,000 after all taxes/fees.

Thanks a bunch!! I will look into doing that as I search for properties, that way it won't be sitting frozen since it's not vested in anything. Very much appreciated. :)
 
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BellaPippin

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30630

giphy.gif
 

BizyDad

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Entre Eyes

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I've read both books. If you refer to 2) and 3) why yes, I'm following my passion. They are hobbies. I'm doing it through the Fastlane/Unscripted /CENTS framework, though. What I'm aiming to make a living out of is rental properties (1). The other two is what I'm setting up to do with my time, they are my purpose and what makes me happy. I wanna give and I wanna paint. How I do it doesn't matter.

If you still think I'm in the wrong direction, then please go ahead and make a case of why you think that.

You know one day I read that you had not made any money online yet and another day I was reading your interesting share about Matcha.

And I was thinking she probably has an entire Library of knowledge she could be selling in her head if she wanted. :)
 
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BellaPippin

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I feel as wide eyed as that gif. Congrats!

Now I've got the put paint to paper because there's a community happening!

Thank you! Get those painting sessions going! Next thing you know you're going to be posing for them HAHA

You know one day I read that you had not made any money online yet and another day I was reading your interesting share about Matcha.

And I was thinking she probably has an entire Library of knowledge she could be selling in her head if she wanted. :)

Haha you know what, the reason I didn't go into Matcha was I felt I got late to the party. There could still be opportunity in Yerba Mate though (not the same thing, that's the one we have in Argentina) you can find it in several energy drinks and supplements if you look at the ingredients. So far they haven't been using it as we do (the infusion in the cup), even though luckily I can find a few Yerba brands in Amazon to keep stocked on that and rotate with coffee.

Anyway point being I did realize at the summit how all over the place I was all this time. The 10-5-1 really helped me just pick ONE thing, the most important thing right now. Once I tackle that I have stuff on the back burner I can pick ONE from and go with that and give it my all for a good chunk of time, and so on. Jumping from one thing to the other probably didn't let anything actually work.

I have a thing for Real Income Statements! You made my day. :) Congrats!

Thank you! I was ecstatic when I actually saw the slope in the graph go up haha. :D
 

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Already following, but for some reason it's not notifying me, so now I'm post-following it, if that makes sense! :rofl:


Good hunting ;)
 
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Entre Eyes

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Thank you! Get those painting sessions going! Next thing you know you're going to be posing for them HAHA



Haha you know what, the reason I didn't go into Matcha was I felt I got late to the party. There could still be opportunity in Yerba Mate though (not the same thing, that's the one we have in Argentina) you can find it in several energy drinks and supplements if you look at the ingredients. So far they haven't been using it as we do (the infusion in the cup), even though luckily I can find a few Yerba brands in Amazon to keep stocked on that and rotate with coffee.

Anyway point being I did realize at the summit how all over the place I was all this time. The 10-5-1 really helped me just pick ONE thing, the most important thing right now. Once I tackle that I have stuff on the back burner I can pick ONE from and go with that and give it my all for a good chunk of time, and so on. Jumping from one thing to the other probably didn't let anything actually work.



Thank you! I was ecstatic when I actually saw the slope in the graph go up haha. :D


Awesome all over the place. Yea I had that problem for a while reading Entrepreneur stories every day will have your head spinning on what direction to go. I did not know until this week Bloomberg quit his job at 39 then became a Multi-Billionaire AFTER.

I think my cure was the fact that you can always Flip a site and begin fresh and while you build one that thought will keep you motivated too.

OK looking forward to your next milestone!
 

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BellaPippin

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Congratulations! Been a while I haven't been on the forum. It is nice to see you are making progress. Cheers! Keep em coming!

Thank you Aum!
 
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BellaPippin

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Update time-o

30920

Got one more. Can't complain since I'm not working on promoting it at all, I'm focusing on [see below]

*

During February I did more in a month towards my house hack than I did the previous year, all thanks to @ZCP and @Greg R :D

I've now finished reading the two books @SteveO recommended at the summit and I'm somewhat comfortable running numbers as I look for deals. I know to steer away from the ones where they're trying to sell me on future value that I have to create.

I went to see a property and I think I'm going to put an offer on it, I'm just waiting for the owner to come back from Mexico this Friday and I'd like to arrange to see it earlier in the day to judge it during daytime. I already know what my working numbers are and what my max offer should be for it to make sense. @Suzanne Bazemore was nice enough to get on a call with me to help me think out loud about repair costs and what to look, as well as another acquaintance of mine who helped me figure out some estimated costs as well.

Getting more and more close to the end of this thread and the start of BellaPippin 2: The Landlady Chronicles :p

In case it wasn't clear this acceleration is powered by the big impact the summit had on me! I've been thinking of this a lot lately. Look at me inspecting houses! I'm having fun by the way.

Peace
 

BizyDad

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I've now finished reading the two books @SteveO recommended at the summit and I'm somewhat comfortable running numbers as I look for deals. I know to steer away from the ones where they're trying to sell me on future value that I have to create.

That's awesome @BellaPippin. You're going places...

Mind sharing the book recommendations?
 

BellaPippin

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srodrigo

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How is this going?
 

BizyDad

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