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All Forum Posts by: Brook Rieman

Brook Rieman has started 10 posts and replied 66 times.

Post: How To: Cash out 1-4 unit Property

Brook RiemanPosted
  • Rental Property Investor
  • Bloomington, IN
  • Posts 70
  • Votes 78
@Andrew Postell thank you so much for this post. Being new to this, the clear instructions are super helpful.

Post: What questions to ask a prospective private money lender?

Brook RiemanPosted
  • Rental Property Investor
  • Bloomington, IN
  • Posts 70
  • Votes 78

Thank you Aaron!

Post: Renovation Pics for BRRR!

Brook RiemanPosted
  • Rental Property Investor
  • Bloomington, IN
  • Posts 70
  • Votes 78
@Mala S. It looks fantastic. I can see why you are excited to keep going with it.

Post: What questions to ask a prospective private money lender?

Brook RiemanPosted
  • Rental Property Investor
  • Bloomington, IN
  • Posts 70
  • Votes 78

My husband and I are looking to flip and/or BRRRR in Bloomington, Indiana and surrounding areas. We are exploring using private money and have had a few people contact me through BP but how do I know they are legit? I would ask for references from past deals but what other questions should I be asking and things I should be looking for? Any tips on the process of partnering with a private money lender, terms, etc? We are new to all of this and any help would be appreciated.

Post: Inheriting a "sexually violent predator against children" tenant

Brook RiemanPosted
  • Rental Property Investor
  • Bloomington, IN
  • Posts 70
  • Votes 78

Hey all, I wanted to give a final update that we were able to get the sellers to let us out if the contract to purchase, so on to the next deal! You bet I will be checking the sex offender registry next time. 

Post: Inheriting a "sexually violent predator against children" tenant

Brook RiemanPosted
  • Rental Property Investor
  • Bloomington, IN
  • Posts 70
  • Votes 78

Update: We have requested a mutual release of contract due to fears for my and my children’s safety since I am the property manager and complete most small repairs myself having my child with me. Also citing the fact that after contract we found out that the current lease is so vague it does not even state a rent due date, late fee, condition to keep apartment in, etc. Also no deposits. We shall she if she lets us walk away.   I hear what many of you are saying about us being too sensitive and that we will deal with things like this if we are landlords. I hear you, however, this is our very first property doing long-term rental and if we can move onto a deal that feels less icky as a way to start off, I would prefer it. We might not have a choice at this point, we will see.

Post: Inheriting a "sexually violent predator against children" tenant

Brook RiemanPosted
  • Rental Property Investor
  • Bloomington, IN
  • Posts 70
  • Votes 78

Thank you all for continuing to add such thoughtful responses and ideas. For what it’s worth, this guy served 5 years of a 15 year sentence Beginning back in  ‘97. Then he reoffended and got another 2 years and got out in ‘16. The owner had originally said he’d been there 5 years but in reality it’s only been 1.5 years. 

Post: Inheriting a "sexually violent predator against children" tenant

Brook RiemanPosted
  • Rental Property Investor
  • Bloomington, IN
  • Posts 70
  • Votes 78

Thank you all for the suggestions, this helps a lot. 

Post: Inheriting a "sexually violent predator against children" tenant

Brook RiemanPosted
  • Rental Property Investor
  • Bloomington, IN
  • Posts 70
  • Votes 78
Originally posted by @Brook Rieman:
Originally posted by @Gilbert Dominguez:

In my opinon since you will not drop the deal because of having a sex offender against children living in your property then you care more about money than you care about any child so its on you. I could care less about how this all works out or you. 

 I feel like this is a pretty rude reply. I am not unwilling to not do the deal because of it, we are actually trying to figure out how to get out of it. I am just completely caught off guard by this situation being our first deal with tenants and seeking advice. 

 Also, we have little kids of our own and I would be the primary property manager so this is not something we take lightly. I’m completely disgusted and frightened by the whole situation. 

Post: Inheriting a "sexually violent predator against children" tenant

Brook RiemanPosted
  • Rental Property Investor
  • Bloomington, IN
  • Posts 70
  • Votes 78

The current owner isn’t willing to adjust the price but if we get desperate I suppose we could pay him to move ourselves. Ugh.