All Forum Posts by: John Cantey

Has anyone taken any programs offered, mentorships etc. on Think and Grow Rich ideas? Bob Proctor is a big one. I was considering being mentored by his company, but it's expensive. $7000. 

Thanks

JOHN

He didn't ask me about getting an inspection. Since it was my first deal, I wasn't aware. 

So, I bought 11 properties in the last year, but the 1st is a lemon. It has preexisting water damage that wasn't discloseded. I've redone both kitchens(it's a duplex) water damage from a leaky water heater, along with severeral other repairs, spent about $13,000 so far. The shower on one side leaks, previous owner put a sticker on it. It needs to be replaced along with the studs behind it. They also called last week about mold in the bathroom. That wall will need to be replaced. about another $10,000. Both tenants have made statements that they have asked for those things to be fixed, but the previous owner did nothing. I've used a buyers agent on all these deals I've made and in each, we have had due diligence and had an inspection done. We did not on this one. We also paid cash, things were moving fast a year ago. He say we can take the previous owner to small claims court, max settlement $7000, He refuses to pay anything now. I have had to push my agent to do this small claims court route. He has little interest. I told him of this new work, he says sell it. Not to lose trust in him, but that's the only way you make money out of this. Does he share in some of the liability, since we didn't get an inspection done?

Thanks

I couldn't find any comps for the rent I was asking. I made it $150 more than the comparable property I have rented right around the corner. That was $1000. I listed it on Zillow and was overwhelmed by the response. I just went to the comp part of my Zillow listing, and it has it as worth $1300 per month. Can I just change my asking price? Even with the people that I've received applications from? 

Thanks

JOHN

I'm just found this discussion. There are several guys that have programs on how to do this. Has anyone purchased those programs? Who's good? 

What's the best way to start searching for these types of properties? 

Thanks

I purchased some properties in 2020 and was wondering what is deductible from closing? Inspections? Appraisals? Fees from lender? Legal fees? Escrow payment? loan origination? anything else? 

Thanks

JOHN

When I spoke to the closing lawyer, he said that the lender kept the prorated rent and security deposit out of the closing. This is odd, because all the other closings that I've done recently included it. He referred me to another lawyer to call. The tenant said he was going to get me half the rent Friday, but then on Friday, he informed me his kids daycare closed down for covid and he wasn't able to work. The hearing is Thursday, would have loved to received something from him. It would have made me feel like we were getting somewhere. Wondering where his stimulus check went. 

I closed on a property, with the assumption that I would be getting prorated rent and the security deposit. I only received half the security deposit and no rent. They let me know that the tenant was being evicted, court case in 3 weeks. They were keeping half the sec. dep. for lost rent. Now I'm stuck with a tenant that can't pay rent, half of a dep. and a court case to kick them out, if possible, not even sure legally if I can. 

There should be some disclosure procedures so buyers aren't put in this situation. 

I need to find more funding, did a cash out for my residence, used all that as down payments, now I'm looking at using a HELOC for down payments. Can you do that?

Let me know if you have a recommendation. I want to have them lined up if I need them 

Plumber, HVAC and Handyman in Myrtle Beach, SC

Thanks

JOHN