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Jan 27, 2022
3:45
:04
pm
panacablue
Truly Addicted User
Tell him to give it to me and I will give him $1 a day for the rest of his life.
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panacablue
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Longseason
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panacablue
Joined
Jul 18, 2010
Last login
Sep 3, 2023
Total posts
0 (0 FO)
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Messages
Author
Time
For all you money guys on the board, if you came into an inheritance of 500K
Ycrazy
1/27/22 3:27pm
Just $500k? I would probably keep it in my wallet as walking around money in case I saw something
kimdaddy35
1/27/22 3:28pm
Never know when you could come across a nice Bentley or Lambo.
Ycrazy
1/27/22 3:30pm
Like a blue Corvette?
Bob Vance
1/27/22 3:32pm
How old is your brother?
DKN
1/27/22 3:28pm
52
Ycrazy
1/27/22 3:30pm
So the 500k is tied up in two condos?
WJCougar
1/27/22 3:29pm
Yes. The condos are owned outright.
Ycrazy
1/27/22 3:31pm
Sounds like they are right where he should want them.
All-American
1/27/22 3:33pm
A ski condo in Park City for $500k....
WJCougar
1/27/22 3:36pm
Right, but it's more than enough for a hefty down payment.
All-American
1/27/22 4:06pm
Keep it in the condos, enjoy the passive income
Crazy Joe Davola
1/27/22 3:29pm
Can he just continue to rent them and maintain ownership?
Beggar
1/27/22 3:29pm
Yes he would have to pay siblings about 100K to buy them out. He has that avail
Ycrazy
1/27/22 3:32pm
I’d go for that. He can always sell them later if needed.
Beggar
1/27/22 3:34pm
#'s seem off. Condos F&C worth 500K. How does he buy out sibling (S) for only 100K? There are other
grandpacoug
1/27/22 4:22pm
There are other assets in the estate. He would be the one to get the condos
Ycrazy
1/27/22 4:27pm
REason for the questions was to suggest the other options. Does he need the cash flow? If not, he might want to ask an
grandpacoug
1/27/22 5:40pm
6.5% dividend before taxes. Assuming no debt on the property? I’d probably keep
Cougforgood
1/27/22 3:30pm
I would acquisition another insurance agency. That would buy a 2.5 million book.
JAGA97
1/27/22 3:32pm
What’s the EBITDA on something like that
kotacoug
1/27/22 3:36pm
<< Deleted >>
Ycrazy
1/27/22 3:40pm
Around 100K a year.
JAGA97
1/27/22 3:41pm
Put it toward my student loans
Slim
1/27/22 3:35pm
He said $500k not $5,000,000
TNT
1/27/22 3:37pm
What school did you go to that charged you 5 million?
WJCougar
1/27/22 3:39pm
Trump U
DKN
1/27/22 3:40pm
That’s why I phrased it put toward and not pay off
Slim
1/27/22 3:39pm
Oh. Gotcha
TNT
1/27/22 3:41pm
Put them in an LLC and earn the rental income.
LifeLongLakerFan
1/27/22 3:44pm
Tell him to give it to me and I will give him $1 a day for the rest of his life.
panacablue
1/27/22 3:45pm
He could then buy tomato plants, brilliant
BYUFootballisBack
1/27/22 3:56pm
What's wrong with holding the condos in LLCs and accepting the rent which
Archaea
1/27/22 3:51pm
Nothing wrong. We were just looking into his options.
Ycrazy
1/27/22 4:31pm
So does that mean that you got a similar inheritance?
D.T. Survivor
1/27/22 4:01pm
Unless it was his brother's wife's family
BYUFootballisBack
1/27/22 4:12pm
Not my family ---in laws. Sadly
Ycrazy
1/27/22 4:35pm
6.6% on gross rents? What does that put you at after all costs? What is the actual historic cash flow over a year?
mvtoro
1/27/22 4:21pm
AMC
BIG XII Coug
1/27/22 4:41pm
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