All Forum Posts by: David Dachtera

@Margie Butts,

I don't actually recommend mentorship programs. IMO, you're better off taking some education.

"But, David, we have 10 properties already, we're experienced. Why do we need education?"

You'll learn what you've been doing well along with what you could be doing better, as well as costly mistakes you should avoid, even if you've already been making them.

A community of fellow students usually comes with the education - people with whom you can network and benefit from their experience. That's in company with your instructors with whom you will likely have personal contact. The education I'm connected with has around 29 instructors, as opposed to the one or the few you may have in a mentorship program.

My $0.02 ...

Whether she's eating it or not, she's doing damage to your rental unit.

Consult your attorney, and take the appropriate action. Be prepared to make provisions for someone who may be mentally ill.

My $0.02 ...

I sent a connect request. 

Admittedly, I am biased. My recommendation would be to look into Renatus's offerings. The courses are now available "ala carte": you don't need to put out tens of thousands of dollars just to get the course(s) you want.

The Tax Liens and Deeds instructor is a licensed broker in Idaho with 16 years experience including 14 years coaching both new and experienced investors.

Message me privately to discuss ...

Important to remember: It says "Z-ESTIMATE", not "Z-appraisal". Software is making the best guess it can based on the available data - no human is involved.

You may have paid "cash" "off-market". However, as soon as anything is recorded or published which indicates a more recent purchase price, that change in the data will effect the outcome of the calculations.

Hope this helps ...

Yes - talk to an attorney.

I'm not an attorney. However, from what you've posted, I believe that since you're still on title, you have an ownership interest and since you're still on the financing you have a liability for that debt.

From my own experience, my ex quit claimed the house to me even though she was awarded the house in the divorce decree in 2010. However, she was still on the mortgage (which means it showed up as an open account on her credit report) until I sold the house at the end of 2016.

My $0.02 ...

@Mike Boss,

We have the expression, "cut your losses". That may apply in this case.

My $0.02 ...

Just heard about this tonight ... Google: "corporate transparency act summary"

It's set to take effect Jan 1, 2024, apparently. Here's a little of what may come up:

"The Corporate Transparency Act (CTA), enacted in 2021, was passed to enhance transparency in entity structures and ownership to combat money laundering, tax fraud, and other illicit activities. It is designed to capture more information about the ownership of specific entities operating in or accessing the U.S. market."

Consult your legal counsel.

Another item to Google is "FinCEN"

An important point to remember about U.S. housing is the Crash of '07 / '08. At the time, economists pointed out that some 80% of builders and developers went under resulting in new construction coming to a virtual stand-still. This housing shortage was predicted back then as a result of this temporary slowing or stoppage of new construction. 

Even with few or no new homes being built, people continued to graduate college, get married and start families. The refugee and immigrant issues made that even worse.

My $0.02 ...

Good Morning America this a.m. (10/29/2023) had an interview with the late Matthew Perry ("Chandler Bing" from "Friends") from a little while ago where he talked about how bad his addictions got at one point in his life. Real estate agents/brokers and others should take heed. He used to visit open houses and check the medicine chest for pills he needed to support his addictions (mostly opiates). He would steal people's prescription medications.

One might be wise to admonish sellers to secure their prescription medications before letting people wander freely through their home.