All Forum Posts by: John Cimino

@Rocco Grossi I'd defiantly be interested in a meet up with fellow Delaware investors.  I'll let you know if I find any. 

@NA Rumsey I'm looking for the same thing myself.  I just bought my first duplex and need some good solid tax advice for the coming year.  

I just closed on my first investment property, a duplex in Wilmington, last Friday.  I've used Robert Forestor for this deal and a refinance on my primary home.  He has done a great job and is really knowledgeable of all the newer programs available.

Robert Forester

Aurora Financial Group, Inc.

1630 New Road, Suite 2A

Northfield, NJ 08225

Office 609-484-0533

Fax 609-484-8906

I would go ahead with the execution as planned.  The tenant obviously didn't put your feelings into consideration when he forced you to go though the eviction process.  Also I don't know what California law is, but in Delaware we have to give 60 day notice to increase rent on a month to month policy which means he would have had ample time even before making those partial rent payments to find a new place.

I also believe you are within your right to extract late fees and court cost from that deposit as well.

Nature's Miracle and a steam cleaner works pretty good for pet odors, but if you're to the subfloor you'll have to follow @Account Closed advice.

• Buy an outlet tester from the Hardware store for 5-10 bucks.  That way you can check for potential electrical issues.

Outlet Tester

• Bring a long screw driver to poke at the rafters in the basement to find potential termite damage.   Also do a google search and familiarize yourself with what their mud tunnels look like.

What areas and price point are you looking at?  There are defiantly some safe areas in and around Wilmington that go for a good value.  I'd also look in Elsmere, DE.

Trulia's crime over lay is a good start for investigating the safety of an area.  I'd still walk the area and talk to a few people before you pull the trigger.

The cheapest, most efficient and versatile is a mini van with all the rear seats out.  It holds a ton of tools and supplies under lock and key and has high roof space like an SUV.  All while knocking down high 20's in mpg due to better aerodynamics.  My college boss was a DIY real estate investor in philly and swore by them.

Personally I wouldn't want to use this agent anymore just because he is an extortionist.  He has no legal right to the money, but wants to use is influence to strong arm you into paying.  Don't give in to it, he will be the real loser in the end.

Even without getting into the questions of if he is trustworthy or not, think of where his head will be when the split finally happens.  You will most likely be on the bottom of his priorities list.  He will be in court fighting over his assets and children, and you will be left picking up all the slack on the business.  If you are expecting to share a substantial amount of work with him involving this deal don't be surprised when its all your problem.