All Forum Posts by: Harold Hanover

James, perhaps I missed it. Don't remember commenting on a punishing bust cycle. 

Logan, good to meet you. As anyone with an ounce of experience in central OR will tell you: do all you can to avoid hiring a contractor who works mostly in Bend. No doubt about it, there's the 'let's rip off the richie's in Bend' mentality on the part of many contractors in central OR, esp the lawn mtc folks. i got so disgusted, i personally replaced the lawn with xeriscaping and haven't paid lawn mtc in 5 yrs. you'll pay for it but i highly recommentd Bjork and Sons plumbing. you really want/need an excellent plumber. opinions might vary but i'm still loyal to PLUS properties as a prop mgr. again, you'll learn sooner or later, the subs will work for a prop mgr over an individual landlord, if they have a choice. that's about all that's useful to offer on my end. good luck. always check a contractor's work. (maybe) trust but always verify.

thanks Malcolm, 
And yes, that had also occurred to me but it was obvious as you mentioned. Was reaching for some more obscure possibility that had not occurred to me at the time I heard the podcast. I suppose the only protections, short of taking on more debt against a property, include monitoring the prop at the tax assessor's office but also making it invisible. I would doubt a scam could succeed if the prop couldn't be found. Again, appreciate your succinct reply.

Hi Everyone, I'm a small fry investor. I think it was podcast 569 with Tom Wheelwright (not totally sure) where I believe I heard David Greene make reference to realizing he was a sitting duck with high value visible assets that a disreputable title company went after. I never forgot the reference to this vulnerability. I think David was talking about how to hide one's assets. Can anyone recommend a reasonably priced good attorney to advise on this matter. I rarely need the help of an attorney and the ones in my area charge a lot and want to put you on retainer: something I can't afford. Would appreciate any/all input. Ty in advance..........

Hello Folks. At the time, there was practically a land rush in Bend, lead by a lot of realtors. The realtor with whom I worked and who came highly recommended appeared to be working either against me or taking their time helping me. In other words, it seemed I was competing w/ the realtor for buying up recovering real estate at the time. Although I was inexperienced at the time, that was a teachable moment for me.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Cash invested: $120,000

Home with mother in law studio. Two units.

What made you interested in investing in this type of deal?

Retirement

How did you find this deal and how did you negotiate it?

Realtor. Fast. First to offer as Bend was recovering from punishing bust cycle.

How did you finance this deal?

conventional

Lessons learned? Challenges?

playing the use local contractors and property managers game has paid off.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

absolutely not.