All Forum Posts by: Michaela G.

I refuse to get onto any wholesaler lists and only find my own deals. There's so much b.s. going on in Atlanta. 

I remember, before the market crashed, GA REIA had 3000 members and every guru would come to town repeatedly and hock their wares. I'd go to the main meeting and laugh my a$$ off when seeing wholesale flyers of 'deals' in the neighborhoods I specialized in. The thing is that those wholesalers always found a willing buyer. Can think of one particular wholesaler that got together with money people and they offered their 'deals' with financing rolled in. Every newbie was buying from them and they usually never did a 2nd deal. But there were so many newbies in line, just champing at the bit, that they didn't have to worry about it. Unfortunately, those people are still around.

The problem also is, that it's hard for an honest wholesaler to compete. They might offer properties with realistic numbers - 40K profit, when the others offer 80K profit. It's hard for a newbie to tell the difference., but 80k sounds much better. 

General repair permit. I used to be able to pull them myself, as the owner. They stopped that 3 years ago, unless you live in the property. Either a licensed GC or someone with a trade business license can pull them. It's annoying. I started this in the 90s, when there were no GC licenses. They started those around 2001 or so and I was grandfathered in. I never cared to make it official, because I was only doing my own houses. So, now they won't let me do it any longer. 

Would you prefer to foreclose or would you prefer to work it out? What's better for you?

It could be that he didn't open the envelopes from you, because he's devastated and is putting his head in the sane, like some people do when they get overwhelmed. He may not know that you've offered a solution of some kind but only sees your name and sees it as a demand for payment - and he simply can't do that right now. 

If you're in the same city put a note on his door, that is not in a closed envelope, so, that he will unfold it and read it. If he still ignores you, you will then at least know a little more. 

Good luck thinking that you'll be able to buy another house in a year, once they see on your credit report that you did a deferment. 

While it may not hurt your credit score, it will show on your report that you didn't make payments for 3 months, which means to them that you didn't have any savings or you lied - either would be a red flag. It would screw up your credit for years. 

Wow! With your constant condescension , you must be a joy to be around in real life. 

...

You want follow up? I have 2 tenants who were in eviction before this hit and they're riding out the moratorium, so they don't really count. 

I lowered  the rent on my other 20 tenants for April and 19 paid all of it. The 20th is a family with 4 kids, who have not gotten their stimulus check, but they gave me partial for April. I'm working with them. Have also everything else for May. And my tenants think I'm the best landlord ever. 

Could it be that a number of people broke their lease, knowing that $ 1200 stimulus payment wasn't going to make a dent into the high rent amounts in the city? Moving back in with relatives or renting rooms or couples split up due to the stress of seeing each other 24hr/day?

https://www.businessinsider.com/americas-first-shopping-mall-is-now-micro-apartments-2016-10

https://gizmodo.com/7-dead-shopping-malls-that-found-surprising-second-live-1634073681

@Jay Reddy I've seen that done with malls that have died and I'm sure it can be done with office buildings