All Forum Posts by: Michael R.

Based on the rents alone I would pass. Here the rents are 500-600 for half a house. Can you raise the rents? How are the comps? Does the roof need tear off or can it be reroofed?

I have about a 15% response rate to my mailers as well. Infact I now only am buying properties that are a direct result of my mailers. I hooked up with 2 realtors but they have yet to bring me deals like I find on my own.

Hello All,
I bought some land in pa back when I was 18. I bought it directly though the county and it was a vacant lot. Now 10 years later I just want to dump this land as I dont plan to live there and have moved on to other things. I have not had the land perked so I dont know if it is build able or not.

Anyway I have hoa fees due for the last few years that I have not paid. I owe about 900$ and now I am getting letters from a collection agency. I am wondering what they can do if I dont pay the HOA. I know they can lien and I dont care about that. I am more concerned about my credit and can they garnish wages etc. I would rather just let them lien and take back the land but I want to protect my credit as well. Can they report to the credit agencys? They dont even have my ss #.

I bought the land for about 200$ and have been paying for the HOA for the last 8 years. I feel like a deadbeat for asking this kind of question but I really have no other way out of this.

Thanks in advance

If they didnt pay him welfare he would have less time to be in court and have time to get a job. Also if they would start charging him court fees as well I bet he would stop his bs. Article just highlights some problems with our system.

It sounds like you are working on a real limited budget. I would try to work out a payment plan directly with the HOA and see if they will allow you to take title and then pay them off. I would not pay this owner directly just offer to take the tile from him so he can walk away from it. I also second the idea of title insurance. You seem to be new at this and operating on a slim budget so you might appear as a target to others. Also do some reading on here about HOAs and what not. If units were selling for the price you stated a few years back and are now selling for 15k I would bet that there are many vacant units and the HOA is not bringing in what they should. HOA is probably unstable and fees may increase substantially. Also dont listen to what this "liaison" is saying. I never heard "Usually when these sort of things happen the HOA picks up the tab because the properties are empty encouraging the owner to get people in them or sell them. The HOA didn't do this leaving the Seller screwed again." Why would the HOA pick up the tab for what the owner is responsible? Never heard of this and seriously doubt its true. If owner doesn't pay the HOA files a lien and may foreclose. The seller didnt get screwed he screwed the HOA.

Hi Greg,

I have had my share of bad managers in Rochester as well. How many units do you have and where are they located? You may want to find a good handyman for repairs and require the tenants to either mail you the rent (po Box) or deposit into your bank account. This is what I do and it works out quite well. I do use a management company for 2 properties that have been a headache for me. I require the company to call or email me when something needs to be fixed and Ill send my handyman over to repair at a fraction of the cost that the management company would charge. Consider all your options before you hand over the 10% to someone else. Sorry I could not recommend a good company as most companies I have used in the past have been crooks. The company I use now is still on probation lol.

Jeremy is a member here.

http://www.biggerpockets.com/forums/92/topics/55546-anybody-bought-with-urban-detroit-wholesalers-

No to knock you but why would you just hand over that kind of money? If you were funding a deal for them I would have went though an attorney and made sure I was a lien holder at closing.

I agree with Rob. This does not look like a good deal from a rental standpoint. I get much better returns with my units.

what is wrong with this guy?? why do you keep lying more and more? I saw your past posts and you seem to have a hard time running comps and understanding what something is worth TODAY not 5 years ago. Also the buyer on that ebay castle does not have 0 feedback so why did you lie about that as well? we all saw the link. And also you dont have a ebay account? then how did you contact the seller after the auction? you need an account..

Sorry to hear that. Here lots of houses have cedar that has been re-roofed over. Never heard of the bank not financing the house because of the cedar though. I know of a few houses here that sold recently with bank financing that had cedar on the roof.