All Forum Posts by: Lance Borden

BP,

Today was a first - I received a rent check with the name and address of someone I've never heard of. In the memo line, the name of my tenant was written along with the address of the rental property, and it was made out for the correct amount.

Do I need to know who this person is? Are there any tax or legal implications to cashing a check from someone I don't know, or that is not listed in the lease as a tenant?

Thanks,

Lance

BP Nation, Can anyone recommend a good bookkeeper familiar with RE transactions in DFW, and preferably Frisco/Plano? Thanks, Lance

Great to have you, Michael! Let's meet up soon at the North Texas REIA. Check it out online with meetings happening once a month on Thursdays.

@Brad Thompson welcome, Brad! I'm in the Frisco area and have enjoyed the North Texas REIA meetings that usually happen in North Dallas or Richardson. I have rentals but am on the quest for more as well as doing flips - so if you end up finding a deal that is too long term for you and want to pass it on, let me know.

@Jay Hinrichs thanks for the reply and recommendations. I am in contact with a an HML here and will continue to pursue them per your advice.

@Jay Hinrichs I currently have buy and hold properties, but would like to learn the ropes of note-buying. What's a good way to get started? Books you'd recommend? Websites? 

Welcome, Ron! Let me know what areas you are looking in and I can offer some direction.

Jesus Betancourt welcome! I live in Frisco and invest in buy and holds there. Check out the North Texas Assoc. of Real Estate Investors. Just went to their monthly meeting tonight. Always a great source of knowledge and networking!

BP Colleagues - Pools - if a property has one - does that make it a definite no-go as a buy and hold due to liability? If so, has anybody ever bought a property with a pool and Demo'd it? Is it cost-prohibitive? Sometimes I find great deals that have pools - so I'm just wondering how BPers approach them. Thanks, Lance

Welcome, Michael! I'm a buyer looking for good wholesalers in DFW. Let me know when you start finding properties!