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All Forum Posts by: Account Closed

Account Closed has started 9 posts and replied 165 times.

Post: How to invest a 100k

Account ClosedPosted
  • Posts 175
  • Votes 103

Buy a 400K multifamily.

Post: Money Order Lost in the mail

Account ClosedPosted
  • Posts 175
  • Votes 103
Originally posted by @Account Closed:

No, any lender would laugh at your offer of a video and general nonsense. They would tell you to send another check if the first never arrived, they aren't going to care about any video you make, nor would a judge if you had to go to court. It would not prove anything to anybody. I JUST foreclosed on seller finance property I financed because the stupid buyer did all kinds of dumb things like that. All sorts of reasons "it's in the mail", but never in my hand. He'd send pics of the check...but it was already late and showing me a pic proves nothing and does not make me say it isn't late when it finally arrives. If the payment is late because the post office screwed up, it's still your fault. That's just the way it works. In the end he lost about $7,000 in equity for playing his stupid games.

As others have explained, a debt is not paid until the check arrives. Most states have a grace period for this reason. "The check is in the mail" is not and never has been a valid excuse for anybody.

I never said it was paid before the check arrives. If you trust the post office, great! I don't. Therefore I take an extra step just in case. My lenders are down to earth people, who have become sort of like friends. I agree a pic does nothing which is why I literally video the signed checks going into the envelope and into the box at the post office. That's very reasonable evidence it was sent if I ever need it. I don't expect to need it but it's there just in case. I like my 100% on time paid credit report and intend to keep it that way, especially when both lenders have more properties to eventually sell. I pay them before I eat. Sounds like you're doing more of a rent to own type thing and probably enjoy foreclosing so you can sell it again.

Post: Money Order Lost in the mail

Account ClosedPosted
  • Posts 175
  • Votes 103
Originally posted by @Account Closed:
Originally posted by @Account Closed:

I don't trust the post office. SO when I mail checks I literally record me putting them in the envelopes and into the box. 

This would never prove anything to anybody. This is why checks are traceable and cancelable. (and so are money orders) And they create their own receipts! You can record yourself doing whatever you want, it doesn't prove you actually gave that envelope or box to the post office. I had a paranoid/dumb tenant who kept sending checks certified mail signature required. He was paranoid that somehow I was going to "screw" him by saying I didn't get the check. I didn't bother to sign for them because I have better things to do, and that made his rent late. So then he started sending them just certified, which isn't cheap...and he has to wait in line to do it every month.

I finally explained to him that those tracking numbers prove nothing except an envelope was delivered. A judge will feel the same way. On the other hand if I cash a check you can obviously prove that I've done that without needing to pay extra, you can also see if I haven't. I then added if he continues this he will need to find a new home...

As a former ebay power seller I saw all the mail scams. People send back empty boxes all the time trying to get a refund while they keep the item. A tracking number doesn't actually prove anything, other than a box was delivered. No way to know what was in the box. And no, tracking numbers aren't very helpful in court, I've been there.

This is why official landlord notices, like evictions, aren't usually required to be sent by certified mail.

Edit: Not sure why my typing is broken up like that, it isn't written that way. This forum software sucks.

You don't think if my lender (seller financing) calls me and says I didn't get your payment and I show him a video of me putting a check into an envelope and into the mailbox AT the post office wouldn't help to prove I mailed it? If I didn't have this evidence, he would say, oh yeah right sure, heard that one before. Make sense now? What you don't understand is any bit of documentation is better than none at all.  

There is nothing "tracing" that I put it in the mailbox at the post office.Maybe your tenant was paranoid because you think he is dumb? 

Post: Money Order Lost in the mail

Account ClosedPosted
  • Posts 175
  • Votes 103

I don't trust the post office. SO when I mail checks I literally record me putting them in the envelopes and into the box. 

Also, you might want to switch to electronic payment it's so easy. Only time I accept anything else is when they get behind!

Post: Seller Financing with Balloon Payment

Account ClosedPosted
  • Posts 175
  • Votes 103

Hopefully you haven't done anything yet. Last resort is balloon payment. If he requires one and this is absolutely a good deal in every other way, tell him in X years he can request to be paid off. So basically set it up as a balloon but give him the option to exercise it. Even it out wit a price drop or interest rate drop etc.

Post: Dumpster Overage Charges

Account ClosedPosted
  • Posts 175
  • Votes 103

There is a nationwide no public dumping moratorium currently, I think.

Post: Whats is everyone's opinion on paying 100% cash for properties

Account ClosedPosted
  • Posts 175
  • Votes 103
Originally posted by @Kishun Barker:

@Mark H. Porter why knowingly take on debt when i can accomplished the same Financial freedom without every having to beg for loan and can bypass all the stress that comes with having a mortgage

 Why ask for opinions and then argue? If you have enough cash to buy all the property you want right now, then do it.

Post: How a Robert Kiyosaki Seminar led to a $318 Million IPO

Account ClosedPosted
  • Posts 175
  • Votes 103
Originally posted by @Stephen Keighery:
Originally posted by @Account Closed:
Originally posted by @Stephen Keighery:
Originally posted by @Account Closed:

Is this really what BP has become, a link builder for wholesalers?

Is that really your takeaway from my story. I feel sorry for you. 

 No need to feel sorry for me. I read it until I came to your SEO optimized link. It would be nice to have a story on BP that does not have an ulterior motive. Kinda like the podcast....all of the guests selling something now.

You have every right to stop reading and get upset when you see a link to my website.  I do ask you to think about whether that is the best place for your mind to focus from my story? Instead you could ask me how I build a company up to 300 employees, how I applied the sales & marketing systems from that business into finding off market deals, how I have built a property portfolio over 4 States and 2 countries. There are many places you could go with what you choose to take from my article and how you choose to interact with me. You can also do the same with the BP podcast and get upset if the guests have products or are trying to build their brand or you can take the free information to apply it. You are free to go whatever way you like, your choices are just obviously different from mine.

Get over yourself.

Seems disrespectful to me for her to ask, so she can resell it to others. Chap.

Pretty easy to find online, why would you ask others do your work, work you probably will get paid for?