All Forum Posts by: David Stratton

Joel,

Thank you very much. I want to first thank you for all of the great information you have given out over the years. With the advice you posted on BP I have evicted a tenant and garnished their wages for $2500, without hiring an attorney in Cobb County. It was especially sweet because they trashed the place on the way out.

The accountant I am working with works for one of the big firms in ATL and I was referred to him from the tax attorney that I hired to check everything when setting up the SDIRA. He is not a Mom & Pop accountant and he deals with a lot other alternative investments, but he does not have much experience with this type of investment. I had not found BP before I set it up everything, otherwise it probably would have been much easier. You are 100 % correct, I need to find someone that is an expert in dealing with this issue.and they do not need to be in Georgia. I guess I need to change the title to my post.

Thanks,

Dave

Hello,

I was wondering if anyone works with an accountant in the Atlanta area that is familiar with filing 990T. I own 2 properties in my SDIRA and have UBTI for 2013. I have been working with an accountant that is some what familiar, but I am looking for someone who deals with these types of things on a regular basis. The return is very simple, but it is filing the 990T which is the problem.

Thanks,

Dave

George,

I am in the same situation, I have been trying to learn as much as possible about the note business. I am a buy and hold investor, but decided to diversify into notes. I know you are out of the country, but do you get back to ATL? The Atlanta REI has a note group that meets every 4th Tuesday of the month in Smyrna. I went last month and planning to attend this months meeting. Looking at your profile picture I assume we both have the same non Real estate job.

Dave

First I would like to thank everyone for all of the great information. I live in Atlanta and had a few questions about the requirement for needing a license in Georgia to purchase notes. When I looked it up online it looked like there was a requirement of 30 hours of education and pay a fee for a license. Is this like a Real Estate license which you still need to work under a broker? I figure the education would be good, but do you think it would be worth pursuing or better to look for notes in other states? Thanks again for all of the help.

Dave

I had a similar case in Cobb County, GA. I had a mother and daughter on the lease and only the mother responded. I received a judgement against the mother, but they told us we would have to go to small claims court to get a judgement against the daughter. I think if the sheriff had served them in person and not tacked it on the door it would be different. I had to file the garnishment in Fulton County because that is where the mother worked. I filed it in the middle of February and just received the paperwork back from her employer stating that they had sent the garnishment to the court. So hopefully I will be receiving the check soon. I think the big problem in Fulton is it took a long time for the sheriff to serve her employer. The whole process was fairly simple and I did it all with out an attorney thanks to some great advice I received on BP.

Joel,

Thank you for the advice. I am currently in the process of evicting a tenant in Cobb County GA and your information has really helped. One question, once you win the judgement, how do you start the process of garnishment.

Thanks,
Dave