All Forum Posts by: Mike Reynolds

@Account Closed

No you are right. He didn't tell them their car was nasty though. He never even said he would rent to them either. He said maybe he might have something come up. Now understand, this guy has been dead for almost twenty years now.

But, if a tenant wont take care of a car that they pay for they aren't likely to take of your house that you pay for.

I have to ask the obvious. (disclaimer, I am not a REI yet but will be soon) What is the difference in discriminating against someone because a poor credit rating or discriminating because they don't take care of stuff? Are they both similar?

I once knew a landlord that had many houses for rent. Here's what he told me he did. He told them all that he might have something come up and got their info. Then he would follow them out to their car and open the door for them.

If the car was filthy nasty they would not get a call back or even  a credit check. If it was he vetted them the rest of the way. It seemed to work for him.

I found a property and found the owners name but after looking closer its believed she has been deported back to ?wherever?...Is there any search company that looks outside the US? I would like to buy this before it hits the auction block. In my county that would take ten years or maybe even more. Only one year of taxes are in arrears so far.

I have followed a chain of people that knew her and no one seems to know where she is.

I will soon be a REI when I get all my IRAs in order but I work for a large one now. What he does first is use his money on tile floors on the ones that don't have any. It helps two ways. Increases value and helps stop damage down the road from pets and neglect. Next on the list is bathrooms then kitchens. It depends on the house and neighborhood of course.

@Account Closed

I did a few years as a Lowes sub. Two things to consider. It will be higher than off the street.

BUT

The big box stores will go out of their way to make you happy. I have seen them (Lowes) pay for a whole set of kitchen cabinets that weren't up to par because of the manufacturer. Small blemish here or there. But there is a lot of proof on your side to ever see that happening. Otherwise it will cost you about 30% more than off the street.

How much extra would the house be worth after remodel? If substantial then go to the note holder and make him an offer that you can divide the proceeds of the final sale. It doesn't have to be 50/50 on the profits per say just that he can see more than his 50k owed.

First find out if its an affirmative or a negative easement. Affirmative allows them the right to use it. Negative disallows you the right to use it. If its negative to you then you may have to move the deck.  If its affirmative to them it doesn't necessarily disallow you use of it.

These I have come across in the building trades from time to time. Not sure if the laws are the same in your state.

 @Megan King

It would do wonders to get the magazine's JLC and fine homebuilding. Both have forums too that can help you with a problem in a hurry. 

@Brian Eastman I think I see what you are saying. I can invest in the Solo stocks  but not work for it. I was thinking a Solo was for starting a business.

@Justin Windham Thanks Justin. I Havent really vetted the solo yet. Here would be my situation if I choose to go that route.

I used to have a construction business but shut the doors in 2008. I still have the active DBA but no receipts since then. I have been working for another REI man since then. To make a long story short I am getting laid off next month and will continue with him with his other 4 RE companies. That means rollover time for me.

I want to do the work myself because I think in the beginning that would be the best use of my time. I cant do that with an SDIRA but I don't want to draw any out of the solo either as wages. I am just trying to find the best path for me.

I have a steal of a deal in mind if I can find the owners. What in your opinion is my best option? (Or anyone else that cares to chime is)