All Forum Posts by: Brian Feltz

Namon Thorn They think it is worth more because they are adding value for emotional attachment. Some people have their entire lifesavings tied up in a house that, before the crash, was only supposed to appreciate. You put $100k into and in your head you will DEFINITELY have $150k in 10yrs... then the bottom fell out and your $100k became $50k... That hurts! It is tough when you have to explain to a person who only has their house that it is only worth 1/2 what they paid for it. Most wont accept it, the rest are just ready to move on. The ones who wont accept it now, will come to the realization you were right after a few months of not being able to sell.

Go Fishing! :)
WI 704.5 (
5) Storage or disposition of personalty left by tenant.

(a) Procedure. If a tenant removes from the premises and leaves personal property, the landlord may do all of the following:

1. Store the personalty, on or off the premises, with a lien on the personalty for the actual and reasonable cost of removal and storage or, if stored by the landlord, for the actual and reasonable value of storage. The landlord shall give written notice of the storage to the tenant within 10 days after the charges begin. The landlord shall give the notice either personally or by ordinary mail addressed to the tenant's last-known address and shall state the daily charges for storage. The landlord may not include the cost of damages to the premises or past or future rent due in the amount demanded for satisfaction of the lien. The landlord may not include rent charged for the premises in calculating the cost of storage. Medicine and medical equipment are not subject to the lien under this subdivision, and the landlord shall promptly return them to the tenant upon request.

2. Give the tenant notice, personally or by ordinary mail addressed to the tenant's last-known address, of the landlord's intent to dispose of the personalty by sale or other appropriate means if the property is not repossessed by the tenant. If the tenant fails to repossess the property within 30 days after the date of personal service or the date of the mailing of the notice, the landlord may dispose of the property by private or public sale or any other appropriate means. The landlord may deduct from the proceeds of sale any costs of sale and any storage charges if the landlord has first stored the personalty under subd. 1. If the proceeds minus the costs of sale and minus any storage charges are not claimed within 60 days after the date of the sale of the personalty, the landlord is not accountable to the tenant for any of the proceeds of the sale or the value of the property. The landlord shall send the proceeds of the sale minus the costs of the sale and minus any storage charges to the department of administration for deposit in the appropriation under s. 20.505 (7) (gm).

3. Store the personalty without a lien and return it to the tenant.

(c) Rights of third persons. The landlord's lien and power to dispose as provided by this subsection apply to any property left on the premises by the tenant, whether owned by the tenant or by others. That lien has priority over any ownership or security interest, and the power to dispose under this subsection applies notwithstanding rights of others existing under any claim of ownership or security interest. The tenant or any secured party has the right to redeem the property at any time before the landlord has disposed of it or entered into a contract for its disposition by payment of the landlord's charges under par. (a) for removal, storage, disposition and arranging for the sale.

(d) Other procedure. The remedies of this subsection are not exclusive and shall not prevent the landlord from resorting to any other available judicial procedure.

Orlando Centeno I got this property under contract with NO EMD! :)

Orlando Centeno Yeah, I called the title company I would use but the closing agent I want to deal with was away on a closing so I left him a message. I just emailed the end buyer telling him it would be 1/2 my fee as a nonrefundable deposit and the remainder of the sale price due at closing.

Hey! Did you get your signs today?!?!

Orlando Centeno He is aware I have the property under contract and that it will be an assignment. So, is it typical to get 1/2 my fee as a nonrefundable deposit or the whole thing and also, do I start the escrow at a title company so there is somewhere to wire the money to or does he and would that process begin only upon him signing the assignment agreement?

Samantha M. I post 2 ads 3 times a day on Craigslist, 1 for buyers and 1 for sellers and then direct them to my squeeze page. I also search it for properties that look like deals, do a little research before contacting the seller and see if we can come to an agreement.

I have a guy from out of state ask me what it would take to lock this property up today! Now for the part of the process I am not too educated on... do I tell him my whole assignment fee (nonrefundable) deposit now, or 1/2 my fee and balance of sale price due at closing? When do I initiate escrow so the funds can be deposited for "Safe Keeping" until closing??? Please advise! :)

Adam Demchik In some counties and cities you can find the tax bill and utility bill information online. I know here in the Milwaukee area, most of the cities I can find the tax and utility information online. You could also see if there were any city violations, building permits, etc...
I have had someone ask me for copies of bank statements to prove that the rent stated in the leases was actually being collected. I hadnt even thought about checking that. Not sure how often a seller will produce bank statements to you though.

Namon Thorn If nothing has sold for over $30k in the last 6 months I think $16.5k would be too much. Now, I dont know what the property condition is, but I would assume it needs a good updating. If you ran the 70% figure and lets say for ease of calculation it would take $10k work you offer should be around $9,500 IF using $30k as your ARV.
To answer your question, I would not increase your offer. IF he has an offer for $20k let him take it.
Just my quick 2 cents worth. Good Luck!

Dawn A. Yeah, it wouldve been nice to meet up with you as well! We wouldve had our own little BP section at the meeting!