All Forum Posts by: Gabrielle Martin

Asset protection is synonymous with anonymity. Those who are trying to hide the connections between themselves and their assets (and those who have done so successfully against litigation) aren't going to blab about it on a public forum.

@Max Tanenbaum is correct. As a result of that lawsuit, which a long time ago now, I learned asset protection. I would not have been sued if I had not shown substantial assets. Now I have everything layered and I don't brag about what I have or don't have. I don't exist. I have No facebook presence, I don't use twitter, or any social media. I give generously but anonymously. I don't divulge who my partners may or may not be. I protect the information of anyone I may or may not work with, with great confidentiality. It is very foolish for someone who has assets to post & boast.

In court, one of the ways the plaintiff identified me was "he was driving that Silver Mercedes of his when he came by". Lesson learned. I bought an additional car, an older sedan, which I use for driving neighborhoods & for when I buy a house or when I show a property to a prospect Tenant Buyer. I save the nicer car for taking the Mrs. out to nice restaurants, but I use my "work" car when dealing with real estate.

Very interesting perspective. Just got a Tesla and this is making me rethink selling the Honda... Thanks for sharing!

2 Votes

Welcome to BP Jeff! Congrats on closing on your first property. I currently have 5 doors in Cleveland and under contract for a duplex...Not sure about overpaying. I just know the cash flow's been great to me in that area.

1 Vote

I'm interested and will be sending an email.

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Originally posted by @Bob Green:

Gabrielle,

Does the property require rehab or is it turnkey?

It's turn-key and already has a tenant.

0 Votes

Hello BP Community -

I made the mistake of making too many rental property write-offs on my tax returns (newbie) and am having trouble getting a loan for a property I have my eye on in Florida ($83K).

Does anyone know a Lender that can help me finance this deal (found on roofstock.com)?

Also, does anyone have any tips to fix this or to avoid this mistake the next time around?

Thanks guys!

- G

1 Vote

[email protected]

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@James Wise Thanks for the perspective. The risk seems to greatly outweigh the reward. I will likely pass.

Thanks for the advice BP fam!

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I live in Los Angeles and have an opportunity to buy a 4bd/1ba home in Cleveland for $13,000. The section-8 tenant brings in $700/month (direct deposit from gov't). The house is in solid condition due to the annual Section-8 inspections.

However, its a bad neighborhood .. alot of boarded up houses on the block (East Cleveland, OH 44112)... with no signs of appreciating.

The selling point to me was that its already cash flowing, no rehab costs, and its pretty cheap.

The concerns: Wholesale via Quit Claim deed, Bad neighborhood.

Would you take this deal?

Also, are there other factors I should consider? This is my first out of state opportunity.. I found a PM that would be $70/month minimum.

0 Votes

All Forum Posts by: Gabrielle Martin

Gabrielle Martin has started 11 posts and replied 67 times.

Post: Looking for a stable rental market

Post: Will renting ever Die?

Post: Been sued? Please share.

Post: First Deal- Cleveland Market

Post: Foreclosure Bail Out Opportunity Baton Rouge, Louisiana

Post: Seeking Financing for New Property / Tax Write-Off Gone Bad

Post: Seeking Financing for New Property / Tax Write-Off Gone Bad

Post: Moving must Sell my portfolio of Turnkey SFH in Chicago

Post: Is this a good deal? (wholesale in cleveland)

Post: Is this a good deal? (wholesale in cleveland)