All Forum Posts by: Tracey B.

Andy, you are saying I am putting words in your mouth and that I am attacking you but you don't make any sense. I quoted you and put in a specific situation that I was referring to. Next time you want to disagree with someone, don't get mad when they state facts to you. I didn't start investing yesterday which is why I made it a point to point out something specific that rebuts what you said and at the same time I agreed with you that having receipts is good. There is no debate on that. Needless to say, it is clearly a simple misunderstanding. The quote you took from me mentioned craigslist so clearly I wasn't talking about million dollar purchases. No need to get mad, no one is upset, its just you and I are talking about different things.

"I would disagree with this. If I'm going to do anything I absolutely want it in writing. When you have a transfer of funds and no documentation to back it up, then it's suspicious. If however you have a bill of sale for some appliances at or below market value then you have covered your butt with proof of what you did. Plus, with the receipt you can write off the purchase on your taxes."

Andy, you dont know what you are talking about. If I pay someone $200 for a washer and dryer set from craigslist, which I have done numerous times, it is under $600 and I do not need a bill of sale to write it off on my taxes. If your accountant tells you that then fine but don't post on a forum your opinion and state it as a fact. Yes a bill of sale would be great, but it is not necessary in small amounts and that is what I am referring to in this situation. Either way, the person who posted it knows what he is asking about is wrong and thats all that matters.

Giving them untraceable cash is definately not an option for me and shouldn't be for anyone who wants to last in this business.

You are joking right? I didnt say untraceable cash I said paying in cash for items someone is selling in untraceable. You are talking about people lasting in 'this business' yet you post a question that is very clear what you are trying to do is fraud, ok? I gave you an easy way to legally do what you are proposing. Guess you know it all . Good luck to you.

Lafi, there is nothing wrong with what you are suggesting per se. The issue is that you want it in writing. If I need a washer and dryer for a rental, I go to craigslist, find someone who has it and then buy it. There's no receipt or anything proving how much I paid for it or who sold and who bought. Everything people have told you is correct but what I am saying is, if you put something like that in writing, you are asking for trouble. If you want to buy some of the homeowners belongings and pay them in cash so it is untraceable, that is the way to go. Anything other than this approach is trouble if you ask me. The seller can just as easily post on craigslist his appliances and sell them for cash to anyone other than you and the bank wouldn't care. That's the way you need to look at this.

Put a tenant in a house with bad mechanicals? That's a recipe for disaster. On November 26 at midnight, the furnace will stop working. Happened to me last year. Took 2 days to get it back up and running, then I had to replace the hot water heater. Different strokes for different folks I guess. What I have learned is replace any major things that need replacing prior to moving tenant in, then at least I only have to worry about clogged drains.

Please elaborate Jeff. Which bonds do you like and why?

Mike, so funny. I did a showing today to a section 8 prospect who wanted to make sure the closet was big enough for her shoe collection, she had 2 cell phones, a car, an expensive hair weave, fancy clothers and told me the 1200 sq ft home was not big enough for her and her daughter. Yeah I know what you mean.

Josh, I wouldn't get out of bed for $300/mnth. Since you say the neighborhood is bad, is it possible you could put section 8 in there and get higher rent? I would have to say stay away from really rough neighborhoods, but if you insist on making money there and many people do, then I suggest you try to get government tenants at top dollar rental rates and screen heavily. If you cannot get more than $300/mnth, I would pass. I have a duplex in a middle class neighborhood rented to 2 government tenants (1bedroom and 2 bedroom) and I get $1800/mnth for it. So you may want to examine if you could get a decently priced duplex elsewhere that may be a little better neighborhood that can bring in the same amount each month. At the end of the day though, you have to go to the neighborhood, so if you can handle it I say go for it. I am a wimp when it comes to the ghetto.

Ok Josh just for you

Billy, dont let this lady play games. You need to get a little aggressive. How did you find her or did she contact you? Is she motivated to sell to you at all? Is it a listed property? If you are seriously interested you need to tell her that you are interested in making a deal happen. Clearly she wants something she doesnt have or she would have accepted the offer she currently has. "Maam, if I could buy this house within 30 days would that work for you? Ok at what price would we be able to wrap this up today? There are a lot of deals out there right now and if we cannot work something out, I will have to move-on. I want to take this off of your hands but you need to tell me what I can do to make it happen. Would 90k seal the deal? Ok then tell me what number will seal the deal so we can write this up and get the ball rolling. Well if you can't tell me what I can do to take this house off of your hands today, here's my number. When you're ready to sell, I am ready to buy."