All Forum Posts by: Peter Lee

I need your help guys,

I live in Las Vegas NV and this month, my tenant was late on her payment. So, I served her with a 5 day pay or quit.

Today, I just got an email from her attorney saying that she just filed for BK and that I can't do anything about it because of this automatic stay.

Has anyone ever tried to file for a motion for relief from automatic stay?

What happens when I get a court date to meet with the judge?

My lease says that if she defaults in her lease, that forfeits her security deposit, however, her attorney is telling me that I have to pay it back due to the forfeiture clause!?!?

Please Help! :oops:

Any stories?
Details?

For example (not me), purchase a high end SFR for $1M in gated golf community in 2003, 3 years later sold for $3M?

To not steer this threat off the wrong course, we're talking about wealth made from RE. Not net worth.

:)

Thanks for your reply Charles.
Is that appreciation mostly from SFR's, apartments, condo/townhouse, commercial property?

I'm assuming your net worth came from mostly RE investments, and NOT your business, stocks, inheritances, etc.

Hi guys, this is my first post as I'm a newbie to this forum, but not Real Estate Investments.

That said, with so much debate regarding strategies on building wealth (appreciation / cashflow / flipper / etc), how much wealth have you made in [b] and how did you do it?

As for me, I started about 10 years ago with my first owner occupied home and a year later turned it into a rental. I have since purchased almost a dozen SFR after. I have profited just about $500k all from appreciation during the boom. I have had properties in Las Vegas, Phoenix, San Antonio, Austin, and Tampa.

What's your story? :D