All Forum Posts by: Account Closed

Your too busy to sit down and write your rent check, or set it up to auto draft out of your account? I take it this also means that you don't have time to shop, cook, eat, etc etc etc.

Well if you signed a lease your current rights are as follows. You have the right to be evicted, and to receive judgment against you for the past rent owed. And if you forget to pay that you receive the right to daily telephone calls from the collection agency he uses to get his money. You have the right to have all three credit bureaus contacted monthly. If he feels that is not enough and you still don't pay you have the right to have a court order that your earnings be garnished or that your bank accounts frozen......there are many others however you should get the point.

You owe so pay.

dice,

for someone that has dug a ditch and buried himself you putting off quite a few people and their advice. Simply put you have 21 post you apparently haven't been at this very long. This business is like any other put your time in take you knocks learn a bit and make your money.

Some of the people you say are "sand bagging" are actually giving you good advice, and are certainly successful in this business. If you can't be a student and learn in this business you certainly can't be a boss and certainly won't be successful.

I was much in the same boat you are I'm finally am getting my credit fixed and can hopefully can do some commercial stuff soon, but in the mean time I have taken the time to learn from this website, and the people involved with it, because these are some of the most successful people I have ever seen. I could only hope to ever be as successful as rich, john, j scott, finance etc. etc etc. sorry for anyone I haven't named that deserves it.

stop bit*hing and get to work.

this sucks. sorry john. hopefully you will be able to salvage the deal and at least come out on top with something

Marc,

I wouldn't think he would be responsible for the rent due. You don't have a contract with him, your contract is with the female that rented the apartment from you. That is the individual you should get the judgment against.

Vic is right where are you getting your numbers from?

Second who is telling you about the needed repairs? Get a few contractors to walk through the place get their thoughts.

I think you may be posting prematurely. You need to see a current water/sewage bill to determine how much of a problem this is.

Do you require your tenants to pay flat fee on water? or a percentage? or what?

If flat fee then I would recommend that once the lease is up maybe not up rent (depending on current rent market in area) but either separate meter or use a percentage to calculate their part of the water bill.

I'm all for any of it, doesn't really matter how it happens. Josh could make the names a banner on the website, that would actually be pretty cool.

I'm trying to figure out how everyone is defining slander, I mean I'm not an attorney, but I have one and I have studied legal issues most of my adult life. While slander is not something I have studied my general knowledge of the laws is that for me to slander someone I must say something that is false that harms that person in some way. Keyword being false as long as the person reporting it can back it up who cares if someone does a little pissing and moaning.

I don't think you confused anyone. I think one of the major questions asked was what is 2 to 3 days late does that mean she paid on the 3rd instead of the 1st or the 8th instead of the 3rd? Do you have a grace period that says due on 1st late after so and so.

Reread John's post. She paid the 80% so you know she's not just dropping the ball and leaving you high and dry. Like the previous post, what is this tenant worth to you.

If he was able to get the contract signed with the bank knowing he was looking for an end buyer then that sounds like he got them to sign an assignable contract, without knowing exactly how he did it I couldn't answer your question.

However I can answer your transactional question a little better.

Transactional funding is where you are given a loan for a very short amount of time, the longest I found one for is 30 days. Basically I put the house under contract, use the transactional funds to buy, now I own the house. I get up from the table walk into the next room and sign the papers selling the house to whomever I am selling the house to, this is an ideal use of transactional funding.

Like I said it was an extreme example, but the stealing part wasn't what you should look at it. My main example is that in what your talking about and what I'm talking about the rationale is the same, and that is the big picture.

I think using the word expects is ludicrous, a lender might project that a certain number of loans will be defaulted, they may plan for. However I can assure you they never expect a loan they write to default, I sure as hell wouldn't give anyone money expecting them not to pay me back.