All Forum Posts by: Justin Morgan

I don't know Mass laws with ownership, probate (or not) and joint tenant or tenants in common (how title is held).  If there are any Mass Attorneys or investors hopefully they can help on BP.  This is a complicated one!

If it was me I would get a few free consultations set up the probate attorneys, estate attorneys and pick their brains on this situation. 

I would leave the part out about you buying and just solve your mothers "ownership" issue first.  After she "owns it" then you can work with her on that part. 

Welcome to BP and hello from Southern Utah! 

Welcome aboard and hello from Southen Utah! 

Welcome to BP and hello from Southern Utah!  

A little tough love like @Jeff B. gave you:  

Sounds like according to the title of this thread.... "Finally happened" that your mindset has been all along someone would do this to you.  There is zero reason this should happen if your running the rental like a business and "They've been good renters for 3 years".

Why do you believe anything bad should "Finally happen"?

Bad things happen to good people but I would look inside your mindset first to keep this from happening again and manifesting itself. 

TO ANSWER YOUR QUESTION:  Yes go after them and follow the law as stated above! 

Best of luck! 

@Greg F. 

Thanks for sharing what you did but it seems your "bowing out" or "holding back" some of the details because of "previous comments left".  Who cares what other say!

I started this thread and it was hard to say publicly what I experienced as I have a hard time calling people out.  My hope in sharing publicly is to:

1.  Get Joe McCall and Peter Vekselman to step up and put a program together that really helps investors.

2.  Warn the public if in fact it is another crappy scam. 

As you are one of the few that have publicly announced your in the Joe and Peter program the BP nation is counting on you to challenged and change what I experienced IF in fact we need to know something different.

I hope we get to hear more details from you. 

Thanks for the comments about John Cochrans "system"... love BP and the members that share!  

Another guru scheme!

@Jessica H. Yes I believe that your current LLC partner WOULD feel cheated. And that is why I believe @Rob Caldwell  and a few others are suggesting to @John Geldert  to NOT make a money partner 50/50 in the business.

For what it is worth I suggest that YOU own your business (not you and the money guy)... in the beginning the value is not "in" the business or the partnership the value is in the deal you can find.  The deals are the only way the business makes money.   Then money or partners will show up when they see you have value (deals).  

You have heard the saying: "you make money when you buy".  Well that is true and partners are easy to find when you have a great deal, trust that.  Go find the deal!

Getting "out" of a partnership like Jessica is hinting at WILL become a reality when you need to and want to keep more of the profits.  Otherwise you might burn the bridge of a great money partner. 

Find a partner that is willing to loan based on a 50/50 arrangement... PROPERTY SPECIFIC... but focus FIRST on finding the deal.

This has worked VERY well for me... I have done a ton of 50/50 deals when I needed the money partner and lacked the funds.  But the same money partner was/is very willing and very happy for me when I take down deals on my own and use him for hard money. 

I can not fund all the deals I find and it is very nice to take one or two on my own then go to the money guy and say "how about 50/50 on this ONE" because I can't do it on my own. 

That is WIN-WIN and your protecting everyone and maximizing YOUR profits.  

I love 50/50 partners... Until you loose the partners money. So be clear and have written agreements for the "what ifs". I agree with Rob... The money guy needs to be secure as "the lender". They have the most at risk. For the first 6-10 deals plan on getting your feet wet and make your money partner always come out whole. You will learn a lot and they will become a valuable asset.

I'm in the desert... It's required. It's SOOOO cheap to add fans over lights. We always try to do it in living rooms, master bedroom or any rooms with high ceilings. All the comps have it... We need to have it.