All Forum Posts by: Barbara Eichlin

Have any of you done anything more with Sunrise Capital Investors since this thread two years ago? I am wondering how they are as an investment these days. Any complaints, praises, things to look out for, etc. Thanks. Barb Eichlin

Hi Sophie. Did you ever get a resolution to this? Did you invest with them? Thanks.

Barb E.

My son and I would love to catch up as we are looking to do a similar action plan and are currently looking at a 19 unit. Problem is, we don't exactly know how to value the property or what it will be worth when rehabbed. I have general idea, but the whole thing is a little overwhelming. Any suggestions?

Some suggestions, as we are going through this right now.

1. As SOON as you see the place going down hill, FILE for eviction. This is what FINALLY lit a fire under our Section 8 tenants who did very similar damage to our house. We are in the depths of this right now as we write this. She is making every effort, finally, to fix the gigantic mess so she doesn't lose her Golden Ticket. We go back up there tomorrow to see how she is coming along, but we are prepared to follow through with the eviction. The judge granted her a continuance to get more cleaned up and repaired.

2. Never carpet the steps or hallways, and maybe not even the bedrooms. they will only get trashed!! Find the most durable floor covering out there and stick with that. The Commercial Vinyl Tiles are good for this use.

Good luck to you and wish us luck as we are going through the exact same thing right now, but at least she is trying to clean up the mess.

-Barb E

While I haven't used these folks myself, yet. They came highly recommended by a fellow investor.

Solomon & Jeffries LLP

(404) 591-7229

Patricia:

What is your exit strategy on this home? You have no margin for error with those numbers. Are you planning to keep it as a rental? Where do you see yourself making any money on this deal? I would think long and hard before diving in AND I would enlist the help of an attorney and/or title company to make sure you are keeping everything legal. You don't want the seller to come back (after she is better) saying she was not competent/coherent at the time to make the transaction valid. There are many pitfalls here. Tread carefully.

We acquired a piece of property through a Tax Lien Certificate in Arcadia, Florida. Its a SFH/residential property. Former owner deceased. The house (if you can call it that) needs to be taken down. The land and improvements MAY be worth $5k to $10k (not sure if the sewer is good). We're into it for $12k. The area is on the poor side. The church across the street has some interest in the property. Mobile homes are not permitted in the township. Seeking suggestions on what we can do to make some money on this property? We've talked about donating it, selling the land only. Building something on it. Any creative ideas out there? Thanks.