All Forum Posts by: Harrison Painter

I am in no way stating that you let these folks walk all over you.

If If I have a tenant that has been with me for 2-3+ years (and many of them have been), I am not going to throw them in the street like an animal because they might have had a life problem. I am going to give them one chance to get back on track. It is not only fair, it IS good business, and the right thing to do.

I do not place all of my tenants in "deadbeat" status as quickly as some folks appear to do in this forum. This shows little, or no, respect for tenants right out of the starting gate. Tenants will pick up on the fact that you feel they are a 2nd class citizen and resent you for it. There is nothing that can come good from that.

That said, I will not allow a tenant to walk all over me. One chance is fair, after that it needs to be business as usual.

*As far as the statement about the bank payments, MIke's example is a weak one. My company has helped many folks who have fallen behind on their mortgage payments get back on track and keep their homes. I have yet to find a bank that has refused to work with someone behind on their mortgage.

If you have had a consistant run of bad tenants and/or evictions, you might want to look at where you are investing, stay out of the war zone neighborhoods, and not only improve your screening process, but your attitude as well......... :wink:

I know a few nice landlords, and they tend to be broke landlords!

I also know a few very mean landlords, and they are usually the folks that experience heavy damage by making a bad situation worse than it needs to be.

As with any business, there are rules that need to be followed. When a tenant goes late, we send out all letters to stay within the law and move on the eviction process if needed. However, we talk to the tenants and try and find out why they are late. If we buy their excuse, we will give them one chance to get back on track. We do this by setting a strict deadline. If that is not met, we ask them to move, or evict.

It has worked out very well for us, and we seldom experience damage. Most of our tenants have been very good to us, and they work hard to get back on track. I credit this to our tenant screening.

The few that don't are sent on their way via eviction, and yes, as Josh said, we cross our fingers.

I have not used it myself, but have some friends who are Cat Adjusters and they seem to like it.

I think it runs about $200 a month or so and is a web based program.

I do not think this drop is based on Obama, well, not all of it anyway.

It is just cold hard fact..........things are bad!

The drop today was due to unemployment numbers and holiday retail forecasts.

Tomorrow will not be much better, as the October Employment Report comes out. The numbers I have seen do not look good. This might have been priced in today, so hopefully it will just be a flat Friday..

The auto industry appears to be stepping up to the plate next, as they met with Pelosi and Reed today. So more money will be flying out the doors for these folks soon. They will call it a loan, but we all know the truth.

Tighten the hatches boys and girls, we are in for a long, hard ride.


*I was watching CNBC today, and there appears to be a new term to toss around now......"Obamanomics"

We must agree to disagree on the hunger and school issue......

On the school side, in my opinion, going to the physical school and actually getting an education need to be one in the same. That is simply not happening. For an example, just because I bought a lottery ticket does not automatically make me a million dollar winner.

I will agree with your point as to the "Richest Poor" statement.

I do agree that most folks in America have no clue what "true" poverty is. Speaking as to Africa, unless an American can tell me that they have walked 10 miles with a bucket while be shot at to simply get that water back to their mud hut that sleeps 15, I doubt they can argue that fact effectively.

I have met folks in other countries that are really, really poor. They also have no real hope of a better situation. When you look into a persons eyes and see that hope is gone, it breaks your heart.

I have spoken with him a couple of times, and he appears to be legitimate.

If my memory serves me correctly, he is a real estate broker in the Denver area. Maybe some of our Colorado folks on here can give us some input as to his reputation on the local level.

Trying to think Macro based on Micro observations will never get the solid facts needed to make some of these claims my friends.

The fact is that good people do go hungry in this country every day. I have worked in soup kitchens, and have witnessed a kitchen running out of food with mouths left to feed. Many of us in America are guilty of placing the blame on others and wiping our dirty laundry under the carpet. It is the easiest thing to do.

It is a VERY POOR statement to think that people go hungry because they want to.

While I will agree that some folks ARE their own worst enemy, I would never make an irresponsible blanket statement that all these folks made the decision to wake up one day and starve. Especially when this statement appears to be based upon some full cabinetry one might have seen in OH. :roll:

The fact is that there are too many factors in play for anybody to fully understand what may have caused a persons demise.

Education: It is hard for me to comment on this statement without being rude to Mike, but I will make the attempt. Your comment on "NO child in the U.S, goes without an education, NOT ONE" is simply ludicrous and misguided.

There are schools in many low income neighborhoods where children are being passed through the school system based on political quotas and other financial interests, and not based on any performance. I am even seeing these issues on a smaller scale in my children's school, and we are in one of the best systems our state has to offer. Many of the schools are not getting the job done, and they are robbing children of their future.

At the rate we are going, I will need $10 million dollars to send my kids to a good college. We have many friends and neighbors who made too much money to get aid, and not enough to afford to send their kids to college.

This leaves a HUGE student loan burden placed on our youth. It is difficult to achieve success with that kind of handicap out of the starting gate.

I always ask folks to open their minds to the bigger picture and look at all side before they form an opinion.

As a magician shows us, things are not always as they might appear. Our eyes can easily fool us, and it takes a lot of time and effort to try and fully understand an issue, identify the problem, and form a viable solution.

Unfortunately, it is just a numbers game to find a good agent. It is tough anywhere to find Brokers that understand investing.

My investment network has not done any business up in WI, but let me make a few calls and see if any of our other investors might have done some deals there and would be willing to recommend someone.

Let me address a couple of things here:

This quote is not accurate. Being a Procuring Clause has nothing to do with an EBA. I have seen this situation a few times in my career. If the agent found you the home, showed you the home, and has proof that they have done so, then he will be able to argue for a commission. Also, in the EBA's I have seen in the past, many of them state that if you purchase a home that the Broker showed you within 180 days after contract expiration, they will be owed a commission. So take another look at that EBA to clarify that.

Also, this issue should not cause any problem for your deal on the negotiation front.

If the Listing Agent wants to share their commission and not take the whole thing, so what? This is historically an issue between agents, and by your statements, the Listing Agent called your original agent anyway. My advice is to put the emotions to the side, and just focus on the deal at hand. You are NOT going to save 3% by not using a Buyer's Agent. (See below)





This statement is a bit of a myth in the Buyers world. The listing agent is going to get the "EXTRA" 3%. I am not going to say it is impossible, but odds are you will not get a 3% break based on this issue. ESPECIALLY on a bank owned deal. Like it or not, the Listing Agent has a lot of power to back door you on these deals. (I see it happen everyday!) There are better and more profitable ways to negotiate a discount.



For starters, ask for PROOF that your offer was submitted to the bank. The commission can be disputed after the offer has been accepted, and will be a Realtor Board Issue.

The Listing Agent HAS TO PRESENT ANY AND ALL OFFERS, and they MUST PRESENT IT RIGHT AWAY! If they do not, I would call the Principal Broker and talk a little about legal action if the offer is not presented.

My advice would be to document every step of this transaction, all the way back to when the EBA agent showed you the property. Odds are the EBA agent has not done this, and it sounds like the Listing Agent is very inexperienced as well, so the odds can swing back into your favor due to their incompetence.



YES IT IS!!!!! :wink:

Banks are their own worst enemy in so many of these deals. To be honest, there is NOTHING we can do about it in most cased. My advice is to ask for what is called a full field review, or bank BPO, of the property. Write a letter to be submitted with the offer to the fact of the pipes and other issues that are lowering the value of the home. Send them your own photos of the damage. While I can not guarantee that this will work, it gives you a chance. I have negotiated many bank deals down by using this method with much success.

Bottom line: It sounds like the Listing Agent is inexperienced and does not know what they are doing. You might want to call the Principal Broker of this company and voice a concern.

It sounds like the Buyer's Agent is incompetent, but some of the rules, and the contract you signed, could be in his favor.

The issue above is another reason why you should always have a good Buyer's Agent. If myself, or my company, were representing you, we would easily be able to persuade the first Buyer's Agent to go away, we would be able to hold the Listing Agent up to their responsibilities, and we would be able to pressure the Brokerage to get the job done.

Agents always seem to be afraid of accountability!





*Disclaimer: I am not an attorney and provide no legal advice. These are just my opinions as a real estate professional. It is sad that I feel the need to write this disclaimer, but it is just a byproduct of what our society has become! :roll:

They do not call them "Sliders" for nothing!!!