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All Forum Posts by: Jeff Goddard

Jeff Goddard has started 6 posts and replied 28 times.

Post: PETIO

Jeff GoddardPosted
  • Investor
  • Bakersfield, CA
  • Posts 33
  • Votes 18

I saw a recent post wherein the acronym PETIO was mentioned, that is a new one to me so I sent a message to Rick H. (Rick The Probate Guy). He responded to me and suggested I start a new thread with the question so everybody can benefit from his response. Maybe I am the only one who does not know what it means.... Nah.

Thanks Rick

Post: INCOME Producing Las Vegas property.

Jeff GoddardPosted
  • Investor
  • Bakersfield, CA
  • Posts 33
  • Votes 18

Thanks for a more detailed explanation of the situation.....

Two things are red flags from my perspective, the first is the comment about the purchaser relying on an "ambiguity" in Nevada statutes, the purchaser may or may not prevail in his suit in which case he loses the asset.  The second concern is, in the event the purchaser is unsuccessful with the quiet action effort the lender MAY be prevented from foreclosing during the course of litigation....  

I would not rest easy due to those concerns.

Post: INCOME Producing Las Vegas property.

Jeff GoddardPosted
  • Investor
  • Bakersfield, CA
  • Posts 33
  • Votes 18

Robert,

Have you filed a "quiet title action" on the referenced property, or do you propose your buyer file the action after purchasing the property from you?  It seems to me like the buyer could be out his purchase money and not end up with a clear title to the property in the event his suit was not successful....  That sounds like a pretty high risk deal to me....  Maybe I am not understanding the details fully, so feel free to correct me if I am incorrect.

Post: Chinese Drywall Pondering

Jeff GoddardPosted
  • Investor
  • Bakersfield, CA
  • Posts 33
  • Votes 18

Thank you to all who contributed, that is what makes this such a great community.  Best to all!

Post: Chinese Drywall Pondering

Jeff GoddardPosted
  • Investor
  • Bakersfield, CA
  • Posts 33
  • Votes 18

Thank you Sandra for the heads up, I retired in 07 and never encountered it in the field and the damaging effects probably took some years to manifest....  Most products used in the US construction industry have to meet high standards to ensure they do not pose a threat to people, apparently the testing was not adequate in this case....  I feel for the homeowners stuck with this problem.

Post: Chinese Drywall Pondering

Jeff GoddardPosted
  • Investor
  • Bakersfield, CA
  • Posts 33
  • Votes 18

Ok, I am puzzled about the Chinese Drywall problem, issue or hazard....I just discovered the subject as the topic of several posts....  

I had not heard of Chinese Drywall until today so far as I can remember.  The really interesting thing to me is in my experience as a building inspector for two decades and a drywall installer and all around construction type for many years prior to that I never encountered the subject....  I also became a state approved asbestos consultant a couple of years ago...  

I was pretty sure I did not know many things but this is something I didn't know I didn't know....  Well it's never too late to acquire knowledge so if any of my fellow BP members can enlighten me I would be grateful....  From what I have read the wiring and AC systems are thought to be impacted by the dreaded Chinese Drywall issue....  Thank any in advance for enlightening me...

Post: Bakersfield California

Jeff GoddardPosted
  • Investor
  • Bakersfield, CA
  • Posts 33
  • Votes 18

@Jeb Brilliant,@James Wise,@Rachael Collins,@Mark Nolan

Thank you to everyone who took time to welcome me, this is a remarkable site.  

I am suffering from information overload but enjoying soaking up the available information.

I wish you all continued success and joy!

Post: Bakersfield California

Jeff GoddardPosted
  • Investor
  • Bakersfield, CA
  • Posts 33
  • Votes 18

Hello, 

I find this to be an interesting and informational site, I have just joined but look forward to exploring the forums and other resources to expand my knowledge base.

I was in the construction industry doing various things and eventually became a building inspector for the local jurisdiction.  The inspection career was interesting and it gave me an opportunity to meet new people and learn different aspects of residential and commercial construction.  

At present I am not involved with RE investing though I have been in the past.