All Forum Posts by: Charles A.

@Grace Carol Quickbooks.

@Thomas Labo TV and radio commercials are replete with law firms offering to help folks “trapped” in their time shares. Time share is not investing. Stay away. Unless of course you just have extra money to throw away every month. My own 2c *From someone who had to be smart to get out of his time share within a month of being sucked in by the pressure sale tactic about 10 years ago and now see friends we got it same time still struggling to get out of theirs!

@Craig Z. That didn’t stop LA and San Diego.

@Tim Kanak

I do have experience in FL and currently own 30 units in Jacksonville.

If you’re afraid of investing OOS I would advise you stay in-state until you overcome that fear or educate yourself enough to mitigate it.

Cheers.

@David Waddleton

Cleveland all day long.

It’s the new Dallas.

There’s a reason it’s been the most popular answer on your thread.

I’ve bought 34 units there in the last 12 months.

It won’t last long.

Those who keep talking about “population decline” in relation to Cleveland probably know nothing about the market.

Do yourself a favor and visit.Talk to operators on the ground,not some data wonks on BP who just simply regurgitate what they’ve read on some blog article (probably also written by some paid author who hasn’t visited Cleveland in 10 years).

It is also slowly but surely changing from a strict “cash-flowing market” and is sure to be seeing some crazy appreciation soon.

It’s the law of demand and supply.Investor interest (especially OOS) is just manic at this time!...again just check out responses on this thread alone.

Once it completes this cycle like Dallas,it will be clear who missed the boat.

Then they’ll be saying how they should have bought in Cleveland “when prices were still affordable “.

**Just avoid EAST CLEVELAND no matter how good the deal looks on paper.

Oh last but not least:

I live in Jacksonville.

Ignore anyone telling you they have properties less than 100k.

They’re trying to lure you into war zones.

It will end badly.

So I inherited a squatter at closing. He was listed as “boyfriend” of previous tenant on lease I inherited from seller. Problem is that lease expired May 2018. The original tenant on the lease moved out on expiration of lease and i never met her. Now this boyfriend is late on rent. He’s technically not on lease. I’m planning to ask my agent to post a 3-day notice on Monday. But I’m not sure that even applies as technically he’s not my tenant as he never signed a lease. Has anyone dealt with this situation?

@Louie Pullen RE 90% SDIRA 10% Of RE: SFR 10% Multi family 90%

@Dave Foster

Thanks.

I decided to just go ahead and close.

But that’s a wealth of valuable information you just dropped.

I will add you to my orbit.

It’s rare that I have a real estate question that doesn’t return useful results on a simple search in BP. This doesn’t. So here’s my situation: I’m closing on a duplex tomorrow.I went under contract on it 6 weeks ago. However,I recently found last week that I have other pressing needs for the cash I was going to commit for the downpayment. So 3 days ago,I asked my agent to list one of the other properties on my portfolio for sale in order to raise that cash. Except that I suddenly realized I could have done things in the exact reverse order and just 1031 exchange the properties while holding the cash I will now be wiring tomorrow as downpayment in the duplex purchase for my other liquidity need. I called my attorney. He says there’s actually something called a reverse 1031. But he’s not sure if things can be arranged in time now since the duplex closing is tomorrow. Has anyone else done a reverse 1031? How long did it take to set things up?

@Lee Ripma

Thanks for mentioning @Michael Blank.

The app is now letting me mention him too ;)

He’s a key factor in how and why I was able to do this.

Thanks Mike!