Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Karl B.

Karl B. has started 14 posts and replied 1795 times.

Post: Melody Wright says the Housing Market is set for a Category 5 Storm

Karl B.Posted
  • Rental Property Investor
  • Erie, PA
  • Posts 1,819
  • Votes 2,867
Quote from @JD Martin:
Quote from @John T.:

Melody Wright says the Housing Market is set for a Category 5 Storm. Great video.

Housing Market Set For A "Cat 5" Storm, Worse Than The Great Financial Crisis | Melody Wright


 Who's Melody Wright?


 No clue. But she's clearly smiling at you! 

Post: Dumping/trash in the back alley

Karl B.Posted
  • Rental Property Investor
  • Erie, PA
  • Posts 1,819
  • Votes 2,867

When I was eight or nine years old my dad found a few garbage bags of trash on one of his commercial properties. Being a little genius, I told him there might be mail inside to I.D. them and of course there was.

My dad went to the police and when they went to the guy he claimed someone stole his trash and dumped it there (absolute B.S.). The police did nothing.

Get a camera there. If you're hard up for cash then spend $50 on a trail cam and conceal it well enough (perhaps behind some garbage) so it's not easily seen. 

Post: Did anybody hear about the guy who got arrested for wholesaling?

Karl B.Posted
  • Rental Property Investor
  • Erie, PA
  • Posts 1,819
  • Votes 2,867

I'm no wholesaling homer but this guy didn't go to jail for wholesaling; he went to jail for being a fraudster con-man who broke the law.

Post: what to do with a nightmare neighbor...

Karl B.Posted
  • Rental Property Investor
  • Erie, PA
  • Posts 1,819
  • Votes 2,867

I would get a few security cameras installed. They would be the kind that records sound as well. When they harass you, swear, party and make noise or do anything else that is wrong you'll have the proof.

If you don't want to listen to them complain about you, wear headphones when you're outside and ignore them. 

Continue reporting them for noise infractions and whatever else they do that is against the law.

I had problem neighbors who were renters and I contacted animal control as well as the police and the tenants moved out as they knew I had their number. 

I had animal control after them for a dog that barked in the middle of the night and when the tenants' brother got drunk and wrecked their car I called the police and told them to give him a breathalyzer and when they showed up and he failed the sobriety test they took him to jail.

Most people fear confrontation. I really don't care about confrontation as what are they going to do? Try and beat me up? lol.

Post: Tenant bailed owes over $4k

Karl B.Posted
  • Rental Property Investor
  • Erie, PA
  • Posts 1,819
  • Votes 2,867

You don't need his current address to sue. 

List the last known address (your rental property address) and the magistrate will take care of it. 

Sue them, then go to the prothonotary with the judgement and get a lien against them. Then find out their place of employment and have their wages garnished.

Post: Application Before or After Showing?

Karl B.Posted
  • Rental Property Investor
  • Erie, PA
  • Posts 1,819
  • Votes 2,867

Most tenants want to view the property before considering applying. 

I ask for credit score, monthly income and if they've ever been evicted or sued by a landlord in the past. 

If all is good I offer to show the place. And if they apply and pay the cost I run their credit and criminal. 

Post: Walnut damaged tennant's back windshield

Karl B.Posted
  • Rental Property Investor
  • Erie, PA
  • Posts 1,819
  • Votes 2,867

She shouldn't have parked underneath the tree if it was dropping walnuts. 

This is one of the reasons I require renter's insurance. 

Post: how to check tenant eviction history

Karl B.Posted
  • Rental Property Investor
  • Erie, PA
  • Posts 1,819
  • Votes 2,867

Many cities have a local Apartment Association. 

I checked and Santa Barbara, CA has one and they also do credit reports for members: https://www.sbrpa.org/member-benefits

Consider joining if you haven't already!

Post: Why John & Jane Smith Can't Afford To Buy A house - No, it isn't interest rates

Karl B.Posted
  • Rental Property Investor
  • Erie, PA
  • Posts 1,819
  • Votes 2,867

While I agree that wage growth isn't  keeping up with inflation... people are paying double the mortgage payment VS what they'd be paying a few mere years ago. 

VERY low inventory is also a factor. 

It's a perfect storm caused by numerous factors and not merely one thing....

Post: Have you done any out of state investing? How did you overcome your initial fears?

Karl B.Posted
  • Rental Property Investor
  • Erie, PA
  • Posts 1,819
  • Votes 2,867

A decent amount of us have done so. 

In late-2016, when I lived in Los Angeles, I bought a 4-unit in Pennsylvania in the town I grew up in. 

I was familiar with the area and the numbers made sense. 

My mortgage is $892 I believe. I get $2,245 in rent every month. When I bought the place it was half vacant and was only getting $822 per month in rent. 

I didn't have fears in buying. My fear was owning zero assets as I watched my bank account dwindle month after month. Real estate fixed that!