All Forum Posts by: John Rooster

My guess would be that he got the credit card in 1979, but did not default till 2010ish. I very much doubt he defaulted in 1979

Rooster is a graduate of J W Worrall elementary school

I would not give any of them any special status as a destination because I know these internet "top tens" are generated by people without any special insights on the topic and those people don't put a lot of effort into the lists. Last week they did a top ten on cars for singles moms, next week they will do a top ten for valentines day gifts, so on and so forth.

The easy was to add square footage is to finish a basement, I have done that many times. I have done the not so easy way, and I am sure the way you are talking about, one time. It was a big headache, it added months to the rehab time frame, and it did not return the effort for me. But the ROI had more to do with the market dynamics in Denver at that time. For the past 6 years in Denver it just didn't make sense from an ROI stand point to add sq footage. It is now a viable strategy in parts of Denver, and probably more viable in much of SoCal. This is beyond the scope of most rehabbers, and would greatly limit wholesale buyers.

It would help to know the interest rate on the cards. Since you don't state the interest rate in the original post, I can conclude you are of the opinion that she should file BK and discharge the credit card debit. I agree.

Which "law" are you referring to? The Federal Tenants in Foreclosure Act? I was referring to the foreclosure action and whether the lease survived the foreclose sale due to possible flawed service. It was not my intent to imply that his rights under the Federal Tenants in Foreclosure act were in any way compromised.

Not sure what the law is in Floridah regarding service of tenants, but even if they were required to serve you personally, and they didn't, it does not void the sale, it only gives you a possibility that your lease may survive the sale. I think you said that you recently renewed your lease, thus the new lease date is almost certainly after the Lis Pendens was recorded, thus I don't think it matters that they did not serve you, even if they were required to serve you.

Although it is possible that the (former) owner didn't know about the foreclosure, the odds are pretty steep that he is lying to you.

I suspect the problem has little to with poor screening, and everything to do with 'creative' placement. The fair market monthly rent for these two duplexes is probably not even close to $1,400 and $1,300. The prior owner probably advertised them at these prices with a heavily discounted first month's rent and a low move in amount knowing very well that the primary applicants were going to be problem tenants.

Agreed. I do not let me tenants hook up the water either for this reason. On the properties I remodel for sale I never hook up the ice maker water line, and refuse to do so if asked by the buyer.

Similarities to life estates, reverse mortgages and viatical settlements. Viatical settlements are not real estate, but insurance polices that dying people sell, it is usually a lumpsum payment though. vente en viager is not an investment I would want to be on either side of.