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All Forum Posts by: Cecil Russell

Cecil Russell has started 17 posts and replied 70 times.

Post: Finding a start

Cecil RussellPosted
  • Mobile, AL
  • Posts 80
  • Votes 13

Have you considered finding a motivated seller property-FSBO-and lease it with an option to buy using your non real estate income stream-assuming you have one=to cover your lease payment & household expenses. Use you VA combined with a HUD Section 221(d)(4)
(http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/mfh/progdesc/rentcoophsg221d3n4) loan to invest in multi-family units which HUD specializes in anyway. The combination of your VA to make the purchase combined with a section 221 loan to refurbish could-theatrically-put your real estate investment program where you want it to be.

Lee Russell: CLeeR Enterprises: Amarillo, Tx. 806-316-8642

A 17 year old with a 15 year old is not a sex offender although our very corrupt criminal justice system says otherwise and that is actually what happened. The problems you will encounter will be from neighbors and other "civic minded individuals" and not so much the offender per se. Follow your gut instinct, because a general rule, you can tell about people from the condition of their clothes and their demeanor. From the wording of your question, it sounds as if the apprehension isn't as much the sex offender as it is the "civic minded." Another avenue you may investigate is the possibility of getting him to buy a inexpensive home with a payment in range with the rent he would pay.
Your best option is to contact the department where he is required to register with. He should have some kind of sex offender identification or registration card issued from that department. If you think he would be a good client, make that call while he and his wife are there in your office. By doing this, he will know that you don't look down on him for what he was convicted of. Ask the officer in charge what the state requirements are for sex offender residence in your area. He will probably have to register with the local police department if in the city and the Sheriff Department if outside the city. Most can't reside within 1,000 feet of a school, park or other places potential victims spend significant time. Ask the registrar what, if any, requirements he has to fulfill: eg; is he required to register quarterly, annually, etc. The more information that you get from the registering authority the more information you have to work with AND you have a contact at the police department ro report any harassment of you by "civic minded" individuals.
The fact that you would even consider renting to someone with such a background shows your decency and kind heartedness.

Lee Russell; CLeer Enterprises: Amarillo, Texas.

No matter who covers this, if it isn't a GOOD product, it is irrelevant. There is an excellent odor removal product call Odorxit. (http://odorxit.com/) It will get rid of any odor-even that of skunk.

Post: Tenant Screening

Cecil RussellPosted
  • Mobile, AL
  • Posts 80
  • Votes 13

Another one recommended to me is http://www.screenthetenant.com/

Gentleman also helps potential buyers with credit issues get their credit cleaned up and assists with their loan applications with lenders he works with. Hope this helps.

Post: From Amarillo, Tx., an information sponge.

Cecil RussellPosted
  • Mobile, AL
  • Posts 80
  • Votes 13

Thanks Mr. C.

I have had to have work done on my house and the best place to find RELIABLE contractors nationwide is at http://www.homeadvisor.com/ This is a nationwide service. Hope that helps.

Cecil Russell

Post: Effective but inexpensive method to form a business?

Cecil RussellPosted
  • Mobile, AL
  • Posts 80
  • Votes 13

I see that forming an LLC isn't going to work for me as I am doing this alone. No family or friends so what kind of company can I set up that provides asset protection that I can do by myself?

Post: Effective but inexpensive method to form a business?

Cecil RussellPosted
  • Mobile, AL
  • Posts 80
  • Votes 13

Thank you for all the excellent information. I can see I'll be up burning the candle low reading all this. Again thank you.

Post: Effective but inexpensive method to form a business?

Cecil RussellPosted
  • Mobile, AL
  • Posts 80
  • Votes 13

I guess the proper term is what Ron leGrand calls a transaction engineer. Lease option to purchase with intent to sell my option. Something called ACTs. I keep hearing that in Texas, I cannot take an assignment fee when I sell out my option and I should use a land trust. There is still a lot I dont understand about ACTs.

Post: Effective but inexpensive method to form a business?

Cecil RussellPosted
  • Mobile, AL
  • Posts 80
  • Votes 13

I have notices in the past 10 telephone calls to seller that many are hesitant to enter transactions with someone as inexperienced as I. I would like to form a business structure to operate within but not sure which is the most cost effective. Any ideas, suggestions? Is this even a good idea?