All Forum Posts by: Arthur Royale

@Brian Ploszay Thanks for the recommendation. Have you used Lesley Robertson for a similar situation? The current lawyer I'm using turned out to be a dud.

@Patricia Steiner, thanks for the advice and well wishes.

@Bob Floss II, I got a default judgement against their LLC. For the first flip, I have a promissory note and a deed to secure debt with 2nd priority. For the second flip, I have a JV agreement and 2 deeds to secure debt (one on the property itself and one on another property). All the deeds say that, in the event of a default, I can take actual possession of the premises and, once the default is cured, I'd surrender the premises back. It also states that, when the indebtedness secured becomes due, I may sell the premises.

@Curt Smith and @Jeremy England For the first flip, I have a promissory note and a deed to secure debt with 2nd priority. For the second flip, I have a JV agreement and 2 deeds to secure debt (one on the property itself and one on another properity).

@Karen F. Yes, I will share the company name and involved individuals as soon as I consult with an attorney. 

Hello, I entered into a contractual relationship with an Atlanta-based company I met on these forums to loan them money to do two Atlanta flips. The deadlines came and went and they didn't pay me back my capital or profit. I got a default judgement against them and now I need to collect.

I've asked for a local lawyer recommendation in the Georgia forum but I'm also trying to understand the best course of action for this type of situation. Someone recommended starting with an asset check. Has anyone encountered this situation before and any best practices I should follow?

Hello, I entered into a contractual relationship with an Atlanta-based company I met on these forums to loan them money to do two Atlanta flips. The deadlines came and went and they didn't pay me back my capital or profit. I got a default judgement against them and now I need to collect.

Any recommendations for a lawyer? Thanks!

@Samuel Sedore Can you send me some information on these cash-flowing SFH or multi-family apartments in KW? Thanks.

@Roy N. Thanks, I'll look into your posts about apartments in the Maritimes.

@Samuel Sedore How's the market in KW for SFH, multi-family, and apartments?

@Abhi Golhar Those are two of the three markets I was looking at! Can you PM me more info?

@Ryan Landis Yes, the student rental is doing well. I was apprehensive getting into that market due to the nightmares I've heard about students but it really hasn't been that bad. However, the city I'm in is now saturated with newer student apartment buildings so filling the building has gotten more challenging. We haven't had vacancies but there's definitely competition. I don't want to do another student rental since I'm looking to diversify.

@Account Closed Thanks for the tip. I'll look into Vancouver. How's cashflow out there?

@Roy N. Thanks for the feedback. I don't have much confidence that the CAD will drop significantly more against the USD so that's why I was thinking about doing the exchange now. Can you tell me more about apartment building investments in the Maritimes?

Hello all, I just joined this forum and I'm excited to be here!  A few points about myself to give you some perspective. I'm a Canadian that now lives & works in the US and am a part owner of a student rental apartment building in Canada.

I have saved up around $400K USD to be used for investment purposes and I'm debating what to do with it in the real estate world.  The options are: convert it all over to CDN to benefit from the +40% exchange rate and invest in the Canadian real estate market. Or invest in the US market given the possibly better deals here. Or a combination of the above. Or convert to CDN but wait for the CDN housing market to correct. Etc. Many options!

In terms of my goals/needs, I don't need the income from the investments since I will be in the workforce for a while. I am more of a buy & hold investor so not interested in flips. I'm not into loaning money. I'm not a handy person that wants to buy fixer uppers. I'd rather build up a portfolio of buy & hold real estate that will appreciate over time and allow me to eventually live off the proceeds. I do have access to credit in both the US and Canada.

Any thoughts on the options I mentioned?  Cheers!