All Forum Posts by: Dick Green

Hi Randy,

Welcome to the site. Nice overview!
Sounds like you have a solid plan and have gotten off to a strong start. You'll find Biggerpockets a great place to share, exchange and network. You may want to check out some of the short sale threads.

Looking forward to chatting with you.

Communication is the key to this situation. You should probably talk to the landlord and ask him directly about his situation. Maybe there's a way to come to some type of aggreement that will benefit all parties.

Can you buy the house? Ask him if he would sell you the home. Can the owner modify his loan? Can you make the modified payments directly to the lender by sending them in his name? Talk to the owner about some of these options? Make sure to ask him directly whether or not he owns the home. Ask him how much he's behind?

Remember, to be apologetic. If he is in a financial bind, which it sounds like....it's partly your fault. Also, he's not trying to remove you personally from the house....he just wants someone in there who's willing to pay the rent. He may be willing to work with you regarding the arrears. Explore various options with him. You may discover that what initially appears to be a problem can actually be an opportunity to profit.

As for rents....the previous posts are accurate. Your agreement is between you and the landlord, not you and the landlord's bank. In my opinion, there's no excuse for staying in his property and not paying the rent other than being denied safe/peacable and or healthy/sanitary habitation. Eviction processing may vary from state to state and sometimes from county to county. The rule of thumb is "don't pay, can't stay!"
Check the eviction laws within your locale.

Hi Braxton,

Welcome to the site from a fellow Texan!

Hi Nick,

Welcome to the group! Jump right in, make yourself at home. You'll find the members here cordial and professional. If I can answer any questions for you, feel free to ask.

Looking forward to chatting with you.

I would check with an accountant who works with investors and understands your entire picture.
http://www.nuwireinvestor.com/articles/real-estate-dealer-or-investor-51401.aspx

Hi Doug,

Welcome to the group from a fellow Houstonian. Looking forward to chatting and networking with you.

Hi Dustin,

Great post...it's probably harder to master a camera than it is to learn how to invest in real estate. I'm sure you'll do well. Welcome to the group!

Hi Andy!

Welcome to Biggerpockets. Looking forward to chatting and hearing about your real estate successes.

Hi Ron,

Glad you joined! Looking forward to chatting with you. Can't wait to hear you insights in reference to real estate and taxes....lol

Hi Jamie,

Welcome to the site! You'll discover that the BP site is a great to share, network and to further your real estate education.

Make sure to fill in your profile and to upload a pic or avatar to give the members a point of reference.
Looking forward to chatting with you.