Mr.LA's secret sauce

[Fernando]

At my age, I'm tired of dealing with tenants. Every one of my properties even if in prime location have problems throughout the years especially in maintaining and all had a tenant in the building one time or another not paying their rent. But no choice since I don't want to pay capital gains and have to stay diversify.

 

[Fernando]

Bro. Fire dude! Tenant burned downed the house. Lol. Insurance saved me. I had to put in an extra 40 45k but I just did a full remodel so it's worth it. Lol. But, they also paid all the lost rent too! Lol

My insurance helped paid my claim along with lost rent several years ago and they jacked up my premiums. Got no choice. Many insurance companies are increasing their premiums so much and few didn't want to renew. I'm still looking for one for my prime property.

 

[Freash1]

You must be still young and ambitious.
I lost my mojo 10 years ago and just taking it easy now.

Nope. I'm 50 now. But, I am highly motivated. My mom died last year. Then, my father in law. My eldest went to a Top 10 University to become a MD PhD. So, I have to keep going to hold it down for my family. My youngest wants to go to Duke University. Plus, my brother in laws depend on me. My sister is disabled so I provide financially for her too. That's my life bro. I keep on trucking for my family.

 

[Freash1]

You must be still young and ambitious.
I lost my mojo 10 years ago and just taking it easy now.

Nope. I'm 50 now. But, I am highly motivated. My mom died last year. Then, my father in law. My eldest went to a Top 10 University to become a MD PhD. So, I have to keep going to hold it down for my family. Plus, my brother in laws depend on me. My sister is disabled so I provide financially for her too. That's my life bro. I keep on trucking

At my age, I'm tired of dealing with tenants. Every one of my properties even if in prime location have problems throughout the years especially in maintaining and all had a tenant in the building one time or another not paying their rent. But no choice since I don't want to pay capital gains and have to stay diversify.

Yes, I get it. My rule of thumb is 6 units max. Middle class to upper end areas. Get high rents. Manage less doors. No leverage.

 

[Fernando]

Nope. I'm 50 now. But, I am highly motivated. My mom died last year. Then, my father in law. My eldest went to a Top 10 University to become a MD PhD. So, I have to keep going to hold it down for my family. My youngest wants to go to Duke University. Plus, my brother in laws depend on me. My sister is disabled so I provide financially for her too. That's my life bro. I keep on trucking for my family.

You are still young. I was peaking when I was 50. Sorry to hear that your mom and father in law passed away. Glad your eldest got his MD degree. I know it takes years and years to become a doctor. My daughter didn't have to go thru and married a doctor. The hospital working him so hard working at the nightshift. Terrible for his health. By the way my son in law went to Duke and loved it there.
You have a lot of people depending on you which is motivating and pushing you to do what you have to do.
Just remember your health is most important and not overdo it physically. At my age now, I'm trying to stay healthy and I exercised more than ever in my life.

 

[Freash1]

You are still young. I was peaking when I was 50. Sorry to hear that your mom and father in law passed away. Glad your eldest got his MD degree. I know it takes years and years to become a doctor. My daughter didn't have to go thru and married a doctor. The hospital working him so hard working at the nightshift. Terrible for his health. By the way my son in law went to Duke and loved it there.
You have a lot of people depending on you which is motivating and pushing you to do what you have to do.
Just remember you're health is most important and not overdo it physically. At my age now, I'm trying to stay healthy and I exercised more than ever in my tha

 

[Freash1]

Thank you!

My eldest is actually my eldest daughter. Johns Hopkins. I'm proud of her. She works diligently.

My youngest wants to go to Duke. She's doing well. So proud of her too!

And, yes....still playing tennis. That's my fun sport to do.

 

[Fernando]

Thank you!

My eldest is actually my eldest daughter. Johns Hopkins. I'm proud of her. She works diligently.

My youngest wants to go to Duke. She's doing well. So proud of her too!

And, yes....still playing tennis. That's my fun sport to do.

Great that your children have the ambition to do better.
Eight years ago, my wife saw AI was going to be important and encouraged my eldest to major in data science.
Back then at Berkeley, the major was just starting out. Today it's a popular major.
Don't know what will happen in the future but be prepared to meet those challenges.

 

[Freash1]

Great that your children have the ambition to do better.
Eight years ago, my wife saw AI was going to be important and encouraged my eldest to major in data science.
Back then at Berkeley, the major was just starting out. Today it's a popular major.
Don't know what will happen in the future but be prepared to meet those challenges.

You mean my exit plan. About 6 years. I have no debt. Rentals bro and private part time work for my attorney clients, when all loan origination stuff goes to ****. That's my exit plan. My rents alone are solid. It can replace my business income. Plus, zero leverage.

 

[Fernando]

You mean my exit plan. About 6 years. I have no debt. Rentals bro and private part time work for my attorney clients, when all loan origination stuff goes to ****. That's my exit plan. My rents alone are solid. It can replace my business income. Plus, zero leverage.

That's like my life now. Debt free. Except I don't deal with attorneys. I dislike attorneys and don't want anything to do with them except for estate appraising.
I don't need to work but appraising keeps me doing something when not taking care of my properties.
Anyway, good night.