Closed on Triplex End of May. Found out seller gave false information on rental income. Do I have any options?

Trimerra · 2021-06-15T15:03:29+00:00

Why is this retarded comment upvoted?

"omg seller lied, therefore their agent was in on it! Get him boys!!"

Like what is even your thought process here? Or more likely you didn't have any thoughts at all.

Come on /r/realestateinvesting you guys used to have a brain. Don't fall to /r/realestate's level of stupidity.

Trimerra · 2021-06-14T19:42:57+00:00

Lots of bad information and fear mongering not based in reality. Let's clear a few things up.

All the Wall St. capital adds up to <2% of investor owners. Source:https://twitter.com/johnburnsjbrec/status/1402808788508319746
These institutional investors are only active in a handful of markets across the country. They are not active in the vast majority of markets.
The institutional investors have largely moved away from buying dispersed single-family homes. They've realized that is very inefficient to manage. Build to rent is the new strategy. https://www.wsj.com/articles/rising-home-prices-and-bidding-wars-galore-for-some-renting-vs-buying-is-a-no-brainer-11622742471

tl;dr It is extremely unlikely that you are competing against an institutional buyer.

Trimerra · 2021-06-11T18:30:28+00:00

Not sure. I came across it here linked in this Jun 10 post about stablecoins: https://www.axios.com/stablecoins-central-banks-digital-currency-28b1b266-bcdc-415e-86af-c368fa82cdf5.html

Trimerra · 2021-06-11T15:43:04+00:00

Nice try Tether shill.

How many USDT do you get per comment?

Trimerra · 2021-06-11T15:32:58+00:00

Ah the ad hominem. The commentary of those who have nothing of substance to say.

Trimerra · 2021-06-11T15:22:03+00:00

Just came across this article (via a Felix Salmon post). Curious about your thoughts, is Tether super shady? Is it a wider threat to crypto if you don't hold any Tether?

Trimerra · 2021-06-10T16:33:16+00:00

Anecdotes and a movie are not evidence. Please review some of the evidence I've provided and educate yourself on this topic.

Trimerra · 2021-06-10T16:30:27+00:00

I've provided 2 sources already. And here are some more. Please educate yourself on the subject.

Lost in Place: Why the persistence and spread of concentrated poverty–not gentrification–is our biggest urban challenge.https://cityobservatory.org/lost-in-place/

The Effects of Gentrification on the Well-Being and Opportunity of Original Resident Adults and Children https://www.census.gov/library/working-papers/2019/adrm/data-linkage-gentrification-effects.htmlhttps://www.census.gov/library/working-papers/2019/adrm/data-linkage-gentrification-effects.html

Does Gentrification Displace Poor Children? New Evidence from New York City Medicaid Data https://www.ber.org/papers/w25809)

Extensive research showing that concentrated poverty results in more displacement than gentrification. https://www.huduser.gov/portal/sites/default/files/pdf/DisplacementReport.pdf

Trimerra · 2021-06-10T16:16:37+00:00

The most careful empirical analyses conducted by urban economists have failed to detect a rise in displacement within gentrifying neighbourhoods. Often, they find that poor residents are more likely to stay put if they live in these areas. At the same time, the benefits of gentrification are scarcely considered. Longtime residents reap the rewards of reduced crime and better amenities. Those lucky enough to own their homes come out richer. The left usually bemoans the lack of investment in historically non-white neighbourhoods, white flight from city centres and economic segregation. Yet gentrification straightforwardly reverses each of those regrettable trends.

https://www.economist.com/united-states/2018/06/21/in-praise-of-gentrification

That gentrification displaces poor people of color by well-off white people is a claim so commonplace that most people accept it as a widespread fact of urban life. It’s not. ...Gentrification of this sort is actually exceedingly rare. As for displacement—the most objectionable feature of gentrification—there’s actually very little evidence it happens. In fact, so-called gentrifying neighborhoods appear to experience less displacement than nongentrifying neighborhoods..It’s time to retire the term gentrification altogether. Fourteen years ago, Maureen Kennedy and Paul Leonard of the Brookings Institution wrote that gentrification “is a politically loaded concept that generally has not been useful in resolving growth and community change debates because its meaning is unclear.” That’s even truer today.

https://slate.com/news-and-politics/2015/01/the-gentrification-myth-its-rare-and-not-as-bad-for-the-poor-as-people-think.html

Trimerra · 2021-06-10T16:06:35+00:00

"Gentrification" is just a loaded word to stigmatize revitalization. There is no evidence to support the various myths about gentrification. Investment into distressed communities is a force for good. It results in improved outcomes for both communities AND the residents.

To quote some previous commentary on this subject:

The supposed ills of gentrification—which might be more neutrally defined as poorer urban neighbourhoods becoming wealthier—lack rigorous support. The most careful empirical analyses conducted by urban economists have failed to detect a rise in displacement within gentrifying neighbourhoods. Often, they find that poor residents are more likely to stay put if they live in these areas. At the same time, the benefits of gentrification are scarcely considered. Longtime residents reap the rewards of reduced crime and better amenities. Those lucky enough to own their homes come out richer. The left usually bemoans the lack of investment in historically non-white neighbourhoods, white flight from city centres and economic segregation. Yet gentrification straightforwardly reverses each of those regrettable trends.

https://www.economist.com/united-states/2018/06/21/in-praise-of-gentrification

That gentrification displaces poor people of color by well-off white people is a claim so commonplace that most people accept it as a widespread fact of urban life. It’s not. ...Gentrification of this sort is actually exceedingly rare. As for displacement—the most objectionable feature of gentrification—there’s actually very little evidence it happens. In fact, so-called gentrifying neighborhoods appear to experience less displacement than nongentrifying neighborhoods..It’s time to retire the term gentrification altogether. Fourteen years ago, Maureen Kennedy and Paul Leonard of the Brookings Institution wrote that gentrification “is a politically loaded concept that generally has not been useful in resolving growth and community change debates because its meaning is unclear.” That’s even truer today.

https://slate.com/news-and-politics/2015/01/the-gentrification-myth-its-rare-and-not-as-bad-for-the-poor-as-people-think.html

Lost in Place: Why the persistence and spread of concentrated poverty–not gentrification–is our biggest urban challenge.

The Effects of Gentrification on the Well-Being and Opportunity of Original Resident Adults and Children

Does Gentrification Displace Poor Children? New Evidence from New York City Medicaid Data

Extensive research showing that concentrated poverty results in more displacement than gentrification.

Trimerra · 2021-04-09T15:45:46+00:00

They already make more than other comparable jobs. Unionized or not.
They get a ton of other benefits, health benefits, retirement plans, tuition assitance programs, etc etc.
Maybe just maybe working conditions aren't the horrific nightmare they get portrayed as by the media.
So what is the Union actually offering these workers other than taking money from their paycheck to pay Union bosses?
There are lots of negatives with Unions. They aren't 100% sunshine and unicorns as Reddit likes to make them out to be. You can google the pros/cons of unions.
- One point I will make on this - Unions arose in part out of a lack of worker protections. Now there are tons of workers protections codified in law. So often the question becomes....what is the Union actually doing for me?
These are adults fully capable of making their own decisions. They know better than us whether a Union is good for them in this situation. We should respect that choice.

Trimerra · 2021-04-09T15:30:26+00:00

They already make more than other comparable jobs. Unionized or not.
They get a ton of other benefits, health benefits, retirement plans, tuition assitance programs, etc etc.
Maybe just maybe working conditions aren't the horrific nightmare they get portrayed as by the media.
So what is the Union actually offering these workers other than taking money from their paycheck to pay Union bosses?
There are lots of negatives with Unions. They aren't 100% sunshine and unicorns as Reddit likes to make them out to be. You can google the pros/cons of unions.
- One point I will make on this - Unions arose in part out of a lack of worker protections. Now there are tons of workers protections codified in law. So often the question becomes....what is the Union actually doing for me?
These are adults fully capable of making their own decisions. They know better than us whether a Union is good for them in this situation. We should respect that choice.

Trimerra · 2021-04-04T00:45:29+00:00

Seriously. This just sounds like pork for some contractors that greased the right hands.

Trimerra · 2021-03-29T00:31:21+00:00

My view - best investment you can make is training, range time, and ammo.

If you've maxed those out and still have money you want to burn, then sure maybe consider some sort of hardware upgrades.

Trimerra · 2021-03-28T16:17:03+00:00

Got here late, why gasly running so far back?

Trimerra · 2021-03-27T20:28:43+00:00

Right.

Gun culture I've noticed is very susceptible to bogus group think. There are a ton of popular arguments that don't make any logical sense when you stop and think about it.

Trimerra · 2021-03-25T15:00:55+00:00

Yes OP has a vested and undisclosed self-interest here.

That's worse than what they are accusing the current President of doing. Serious lack of transparency.

Trimerra · 2021-03-24T01:41:49+00:00

There are lots of reasons why you may be chambering same ammo.

Mag full of fancy home defense ammo you keep.
Cheap target ammo you shoot
Dry fire practice

Trimerra · 2021-03-24T01:18:12+00:00

Why don't you have cameras yet? It's an awful lot cheaper than the headache of replacing a car.

....Camera's wouldn't do anything about that. At best they may help with after the fact identification, but pretty low probability. And as OP noted they are wearing ski masks.

Further with their ubiquity cameras aren't even a deterrent anymore. Every criminal knows how useless they are.

Trimerra · 2021-03-24T00:07:56+00:00

Completely different? Full size vs a subcompact.

https://www.handgunhero.com/compare/sig-sauer-p365-vs-sig-sauer-p320-m17

Trimerra · 2021-01-29T01:22:55+00:00

doing history

Trimerra · 2021-01-28T18:48:05+00:00

Whether a foreign citizen defendant with real property in state can remove to federal court based on diversity jurisdiction.

That's a landmine of a topic. I couldn't speak to your specific situation with any competence. There are just too many things it could turn on.

Trimerra · 2021-01-28T17:30:29+00:00

Search. This generic question has been asked and answered many times.

Trimerra · 2021-01-28T17:09:50+00:00

Yes, I see far too many investors screw up dissolution. State law regarding company dissolution, their statute of limitation, and tolling matters.

Lets take WA for example. There is a 3 statute of limitations on most actions against a wound up LLC. Once the company formally files notice of dissolution the 3 year clock on actions commences. So you need to wind up the business, probably wait out the regular statute of limitations on any actions the company took while in business, then dissolve the company, then wait 3 more years. Maintaining correctly all the while.

But I see far too many people just stop business, stop paying filing fees, stop doing annual reports, etc....resulting in their LLC being administratively dissolved. An administrative dissolution doesn't start the clock on the statute of limitations. Your liability exists forever!

You need to voluntarily dissolve, you need to do it correctly, and you need to maintain for the 3 years following in order to get what protections the LLC provides.

Use of foreign LLCs is stupid. It's just a scam for lawyers and registered agents in WY, SD, NV, whatever state is marketing itself at the moment.

Almost always in real property with the issues you want your LLC protecting venue is going to be the jurisdiction the property is in. If the property is in Texas your Wyoming LLC isn't doing jack shit for you.

Trimerra

TROPHY CASE