All Forum Posts by: Paul Winka

What if he signed some sort of release? Would this help to protect? At the very least, it puts the idea in his head that he cannot come after you in the case that he would get hurt.

Yes, I too am curious about the handyman signing a document indemnifying the landlord. IANALB wouldn't that be the trump card to squash a lawsuit from an ambulance-chasing attorney?

I truly doubt a release form is any real protection, but even if not, it can't hurt much to do it in a pinch. Those release forms I sign when I do a high-risk activity like white water rafting certainly make me think I have no options to sue if I get hurt, so it should work for handymen working on a rental house too.

Just my opinion, but hiring licensed/bonded workers is just the cost of doing business to avoid lawsuits and shoddy work.

0 Votes

Originally posted by @Jay Hinrichs:

If you want in the industry get a job in the industry apprentice then move up the ladder like most folks do in life... the idea or romantic idea that you can just sprinkle holy water on a real estate deal and turn your life around etc etc.. is just folly.. can it happen sure.. but its about as common as well, winning the lottery..

good places to start are just answer phones at a real estate company. Escrow assistant... work for a closing attorney or title insurance company.. go to work with apartment complex leasing apartments ( requires a license in some states).... etc etc... get in the game by going to WORK in the game..

When you say "answer phones at a real estate company", do you mean become an agent? Or does that mean apply to be a secretary for the local Century 21 or Keller-Williams office?

1 Vote

Originally posted by @Huiping S.:

Originally posted by @Paul Winka:

I just recently listened to the Jonathan Twombly podcast (#172) and at the end he mentions the value of logistics centers to real estate value in which "the mode of transport changes from one form to another." It creates heaps of jobs and housing demand.

The inland logistics port in Winter Haven (Polk County) just opened in 2014 and is close to St. Petersburg, Tampa, Lakeland, and Orlando. To those that are in the area, has this been the juggernaut it seems to be? Has the market already adjusted and it's too late to come to this party? I am curious to know the opinions of the veteran investors in the area. I don't live in the area yet, but this seems like a huge deal.

I have to change my way to office to avoid CSX's last century train system. Globally I doubt how many countries still use so slow train and to block the main traffic few times day. Without analysis the poor designed system to block major traffic, just see the last century speed of CSX train, I think this will have good impact on this region only if the speed can catch-up this information century. Now, it is impossible.

I agree after experiencing the speedy passenger trains in Shanghai and Japan that these CSX trains are really slow. But do you think the port itself is a boon to the area for jobs and real estate?

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Originally posted by @Tzvi Balsam:

@Paul Winka

Are you really in Kandahar Afganhanistan ?

Hi Tzvi: Well, that's where my work place has been. I was a contractor employee there. Now I am here on BP soaking up what I can, making a post here and there, and hoping my new path to financial independence won't be laden with the sound of rocket and mortar attack alarms in the middle of the night. I am forcibly on the sidelines now since I am not in the USA, but soon will have to find that zen between "damn the torpedoes I am going to act now" with my first deal AND forever posting with analysis paralysis.

What about you?

0 Votes

Originally posted by @Jay Hinrichs:

@Cameron Tope curious about your emphasis on a title company in this transaction

before the anti equity stripping laws went into effect on the west coast I did well over a hundred of these and ( we were buying pre foreclosure normally 1 to 3 days before the sale) So we did not use a title company.. My title company would do a date down for me on the phone.. which gave me a 97% assurance title was OK and we were only risking 20 to 40k usually so if we missed one no biggee we just lose the 20 to 40k...

But then all we needed was the authorization form you speak of signed by seller... then off we went Never needed a title company.. we prepped our own deed got it signed walked it into the court house and recorded that sucker LOL.. along with bringing the loan current last second.. lots of sad faces at the courthouse next day :).

But that's no legal these days ( well its legal) but there are a lot of rules that make this prohibitive practice in our area if you don't want to get into serious trouble with the regulators.

I assume you keeping yours as rentals... ?

but for a fix and flip in and out in 6 months.. I would not get to worked up.. he only has to put 12k up and 25k to rehab.. if it all went turtle he is only out a few bucks anyways.. I see no big risk here.

you do want to check though with title prior to doing this what type of deed they want you to take title with.. in some states Quit claim works fine in others you fubar yourself and cannot get title insurance for the next buyer.

Hi Jay: I'm trying to understand what you mean by equity stripping and the law in the above context. Could you explain it in dumbed-down terms for me? I'm learning a lot from you on just this one thread. Thanks!

1 Vote

@Jeff Copeland

Too bad about the ferry project getting delayed. I found this Best Buy Cities: Where to invest in housing and was happy to see Tampa was high on the list for 2016. Is this a surprise to you, or is this just someone making armchair speculations from a desk a thousand miles away?

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@Adrian Smude

What are the other reasons you choose Lakeland and Winter Haven then? In Plant City you are equally close to Tampa too, so I figured there is a reason.

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I just got through reading this article here:

https://www.rocketlawyer.com/article/mortgage-vs-d...

Today I learned that owners/lenders in mortgage states (i.e. FL) must take back their property through a process called judicial foreclosure. This is opposed to nonjudicial foreclosure that is involved with a deed of trust. Some states allow mortgages only (16). Some allow deed of trust only (26). Some allow both (9).

https://www.rocketlawyer.com/article/which-states-...

I am curious if there are any advantages to judicial foreclosure. And in the interest of fostering confidence in property transfer and commerce in general, what would be some reasons why a state would not allow a deed of trust?

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@Don Yacono

Most of the information you can buy from places like www.listsource.com, www.agentpro247.com, and www.usleadlist.com are available in some way through public forums. They just aggregate it and sell it to you, often adding in algorithms to infer certain characteristics, such as equity % or owner age.
I think of it like eating a restaurant. You can buy all the ingredients for the same dish in a grocery store for less money and cook it home, but it's not as convenient, and may or may not be made as well. On top of all this, you may not enjoy cooking. :)

What's your time worth and how much do you enjoy the tedium of getting all this information from public sources?

2 Votes

All Forum Posts by: Paul Winka

Paul Winka has started 83 posts and replied 312 times.

Post: Uninsured Handyman?

Post: No experince, No money

Post: CSX rail hub in Lakeland / Winter Haven, FL, a game changer?

Post: Vacant. House lists

Post: Buying a flip subject to

Post: CSX rail hub in Lakeland / Winter Haven, FL, a game changer?

Post: CSX rail hub in Lakeland / Winter Haven, FL, a game changer?

Post: CSX rail hub in Lakeland / Winter Haven, FL, a game changer?

Post: Are there any advantages to judicial foreclosure?

Post: Vacant. House lists