Finance Friction

@PerrySolem Interesting. I’ve gotten a few of those done. Look at Credit Unions. What state are these in?

@FinanceFriction they still want a rich guy on the hook and many of them don't/won't ever do what you described

couple friends of mine are buying sub-$10m value add deals this means small banks for debt small banks want a recourse guarantor they have one. he charges half the promote. these guys are not stupid. they're relatively connected. have done a bunch of deals. great reputation. I'm sure a slew of know-it-alls will reply to this with magic answers, but my point is, people have no idea how badly diluted some operators are. they like what they do, but they'd be the first to warn you, there are much easier ways to make money in this world.

@PerrySolem @REDevManager They will still request a bio and a PFS even if the recourse is removed.

@REDevManager @FinanceFriction interesting ok so... there's a warm body there? is it the ceo of the dev co?

@PerrySolem @REDevManager Ha. No doubt

@FinanceFriction @REDevManager not a lot of personal guaranties occurring among billion-dollar loans

@Greiser Solid and simple plan

Safe advice will get you wealthy. Eventually. But there’s a gap between what the default financial playbook builds and what’s actually possible when you pay attention. The default: max your 401(k), keep 6 months in savings, dollar-cost average into index funds. The upgrade: layer in Roth conversions during low-income years, harvest losses systematically, build a taxable brokerage alongside tax-deferred accounts, structure withdrawals to stay in the 0% capital gains bracket. Same inputs. Very different outcome. The difference isn’t risk—it’s intentionality.

@REDevManager @PerrySolem Is the LP’s recourse at the entity or individual level?

@PerrySolem What we try to do is find an LP to go on the gty with us. We try to get ‘joint’ and then basically bc we own so little of the deal (>1%), the bank isn’t going to chase us bc we will owe them so little. We do give up some promote for this. But overall it’s large $ so it’s fine.

@Taxguy33962 @LoZabransky Plus fees, penalties and legal costs through the audit. You actually saved them money

Just had a call with a potential client who used a “tax strategist” influencer 👀👀 Wrote off $150k of life expenses, explicitly told spa and hair days are deductible - all against $20k of realtor income. Just ruined their weekend by telling them the truth about their return and the $50k tax liability they’ll get hit with when it’s caught.

@jonbrooks No. So much emotion in home buying. They need a shoulder to cry on more than sound advice

Will AI replace realtors? Just be honest with me. And if so, by when.

Junk property hard money take outs to banks aren’t easy, especially with high initial leverage.

@diegometrotax Most should as they’ll be billing again to defend you for the work they performed in the first place

This is a message for all taxpayers and business owners: Make sure your “tax strategist” picks up the phone when the IRS comes knocking on your door about certain tax strategies.

@BBGreatMoments If the officer asked, then do it and don’t be an ass. Plus, he was probably blasting Taylor Swift

Police got called because this dad was playing walk up songs too loud 😅

@benkellyone Buy investment real estate

If I were 25 again: • Skip the MBA • Read every SBA loan resource online for free • Open SMBmarket instead of scrolling • Find one Boomer-owned business in my city • Learn what SDE means and how to calculate it • Get pre-approved before finding the deal • Talk to one broker every week until I closed The path exists. Most people just never go looking for it.

@LoZabransky Cost Segs

Hey tax friends - over the past couple years what types of things are you seeing on returns pulled for audit, want to make a video on it #taxtwitter

@Tekeee Buy a home if you can afford it and need it. Or even if you’re rewarding yourself. Homes shouldn’t be piggy banks. And if you can afford it now and rates dip, then it’ll be a win. If you wait, everyone and their mother will be doing the same

DON'T buy a house. Unless you are a millionaire. Rent for now. Wait for a 2008 type market crash to buy your first house. Listen?

@dougboneparth They likely want to see you’re trying to hedge costs or save vs shrugging your shoulders and paying whatever

There’s nothing worse than older generations telling younger generations how to spend their money. It’s not our fault college educations and homes no longer cost $75.

@TroyPSilva Yes because it’s important to be there with your kids and help their friends / teammates

You wanna be a coach? ⚾️ You will feel unappreciated ⚾️ You will have people talk bad about you ⚾️ You will be consumed by the “job” ⚾️ You will have people question your every move ⚾️ You will be taken advantage of Is it worth it? Every coach who actually cares about his players and the team culture loves the process and the development. So yeah, it’s worth it in the long run and it’s incredibly rewarding helping young men develop into the people God created them to be… but man, it is really hard sometimes to keep going! *Coaches: You are needed, you are appreciated, you are important. Keep giving your all! #BaseballTruth

@rickycarruth Facts. All this in hopes the deal closes

Your real estate agent coordinated the inspection, the appraisal, the lender, the title company, the attorney, and your emotional breakdown—all while working for free until closing.

Borrowers: if you introduce a new debt structure a few days before closing, expect delays and don’t act like it’s no big deal to for lenders to conform to you.

@SteveOnSpeed 9-5 jobs helped my family get to the point we could start our companies. They provided serious value

I'm proud to be that account on X that won't shit on you for working a 9-to-5 job to provide for your family.