All Forum Posts by: Ralph R.

@Jason Yuan. Have the Attorney do all the dealings with sec 8. Your interference my inadvertently make it harder for the attorney to defend you. Don’t start down one road only to find there’s another option.

@Dennis M. Why does it matter he was not stateside? I regularly travel outside the USA and keep 16 units rented and self manage a 36 unit self storage facility. RR

@Tom Gimer. Ok missed that. Your still screwed because the minute she died that property became part of her estate. The heirs have no obligation to you. Worse the hospital can freeze all her assets until they get paid. It’s what you get when you try to rip off an old person for 40k

@Michael Ablan. I would sell any houses that fall under rulings similar to the ones you have described. If you can’t /aren’t allowed to manage your investments for profit then take the loss and get out. Your first loss is always your cheapest loss. It makes no sense to invest money and then have no way to collect your rent. Better buy something else.

@Tom Gimer. All that stuff may be correct AFTER she signs. There is No contract without her signature. If that was the case I could sign a contract with anybody’s name on it (yours??) and enforce it after you die right?

I have a self serve storage facility with 36 units and 16 rental units. I use a PM for the rentals. I could never waste my time chasing down repairmen, evicting tenants, and collecting rent every day as I work too. I want my rental income passive so it’s better to do it that way. My rentals are spread all over Colorado so I end up managing PM’s. They do all the books for each property too. I’ve done it that way since day one. I let them deal with tenants like that. Imagine what your going to have when you get 20-30 rentals?? RR

@Jim C. Whose going to give you 10% interest on a seller finance?). RR

@George Savaricas. George if that triplex cash flows at 3.5% down its one in a million. Many or most lenders require 25% down payment. If you need to put in 11% to get the loan and the property pays you are still getting a very good deal. My experience tells me you don’t have a bunch of experience with rentals and are trying to buy this one with no cash. That leads me to believe you haven’t vetted this thing very well and are going to have bigger troubles down the line. RR

@Anthony Vangilder I did for 10 years or so.

@Diane G. I like the other poster do get this. I don’t know how a sink drain in a house can run 50ft and nothing else is affected. His camera should have shown you the blockage. I’m thinking your drain isn’t even hooked to a sewer line. 50 feet should be out side the house. He can locate his camera with a simple metal detector. If the drain is outside the house already ( a very old Grey water line common many years ago) then find your sewer line and hook it to that. RR