All Forum Posts by: Chris Rich

@Scott Mac

She refuses. When I asked her what she would want to do, she said that she likes the properties & wants to keep them. The seller/her dad wants to sell them & doesn't want to pass them down to her because they haven't been on good terms in years

Good morning everyone. I apologize in advance for the lengthy post but I'd like to paint as clear of a picture as possible to explain this scenario. I have a seller that is 81 years old that wants to sell his property. He gave his daughter power of attorney 25 years ago & he says that he now regrets, as they are no longer on good terms. The owner's grandson lives next door & he saw his grandfather & I going to check out the vacant unit of the duplex. His grandson called his daughter over (she lives about 3 minutes away) & as we're walking the property, she walks in, introduces herself & states that she has power of attorney, her father has dementia & any contracts that I sign with him will be void. Immediately after she says that, the 2 of them start arguing as I'm standing there. After things cool off, the daughter leaves & the owner & I walk back over to his house (he lives next door to the rental). We continue to talk, in his house about the entire situation, for another 30-45 minutes. During the conversation, he explains to me how he built his daughter the 1 million dollar house that she currently lives in, years ago & he believes that his daughter is trying to block him from selling any of the rentals because she's just waiting for him to die so that she can try to take over his properties. He stated that nothing is wrong with him mentally & he's never been legally labeled as having dementia or declared incompetent to make legal decisions. He says that his daughter is currently trying to make that happen, legally (although I'm unfamiliar of how all of this works). He says that his plans are to sell the property that he has in Virginia & move back to Florida (he also owns 2 properties there). He also says that he's currently working with an attorney to try to get his daughter's POA revoked so that he can sell. He did let me know that in the meantime, if there's anything else that I could do to help, to let him know. This is a new one for me & I'm not sure if there's anything that I could do to assist. I'm wondering if anyone here has come across this situation. If so, how did you handle it?

This is great & inspiring! I'm thankful to witness stories like yours in this business.

@Anthony Rosa

I wasn't going to respond to you but you accused me of wishing death. I never wished death on anyone; talk about "twisting everything". You slightly twisted that one just like you twisted the original post. Not wanting to join the work"force" does NOT mean not wanting to WORK. That clearly means not wanting a 9-5, working for someone else. You should've thought about that before you spoke. If anything, you could argue that instead of wishing death, I wish you had never been born in the first place. I'm pretty tired of seeing these forums here where people are genuinely asking for help & getting made fun of & criticized instead of receiving real advice. If you didn't have any to offer, you should've stayed quiet. Worthless poser?? I'm so dumb & don't even know it?? Ok that's your emotions talking, not facts so I'll leave those ones alone. You're correct about not having to explain yourself. I never asked for your explanation, you could've kept it. Had you put that much thought & energy into advice for the original post, me & you wouldn't even be talking. Remember this conversation the next time you see a forum here where someone is asking for help. I won't say anything else about you here. I think my point has been made clearly. You can have the last words if you want them. I know your ego probably can't resist it anyway haha. I won't respond anymore because now I'm continuing the bad energy. Good luck with everything buddy.

@Rebecca McDonald

First I want to say thank you for posting your question. No matter how some folks will try to make you feel (for asking for ADVICE, which is what you SHOULD do when you need help) please still continue to ask you questions. These forums here were provided for investors to "HELP" & "UPLIFT" one another in the business. With that being said, scrolling through & reading some of the rude & negative replies & comments didn't surprise me at all. It's actually quite filthy & disgusting that people like @David Barnett @Tim Johnson  @Anthony Rosa  @Scott Mac  @Syed H. @Jordan Woolf exist in this business, or even exist at all; very disgraceful.  It's funny how the fake ones will be very condescending initially but then pretend as if they don't know what they did wrong after receiving flak. @David Barnett @Anthony Rosa That's a very typical tactic by folks of their like-mind; it never fails to amuse me haha. What I would do in your position is get good at wholesaling, find a good hard money or private money lender, roll your wholesaling profit & real estate commissions into down payments for BRRRR deals. It may take some calling around to find a lender that will be willing to refinance you out but that's nothing but effort; there are plenty of lenders out there that will refi you based on a performing asset. You just have to put the technology (phone) to heavy use. You could also always network & find a credit/capital/experience partner to help with qualification for loans; especially commercial. I would also suggest business funding to help with rehab deals (funding down payments & rehab costs) & also "subject to" as another low-money-down way to invest. It would be a bit much for me to detail those methods here if you're not too familiar with them but the good thing is that its 2019 & nearly everything about anything is on YouTube. You can definitely search all of my suggestions there; thats how I was introduced to most of them. There are so many ways to invest & the creativity to invest in real estate is nearly endless. There is always a way to get a deal done. Please don't ever get sidetracked by foolery & negativity from characters like the ones that I tagged above. Despicable people & energy will always be around but they're to be used as fuel. They're more effective than motivational speakers haha. Continue learning, networking & obsessing over real estate investing & you'll find a way that works best for you @Rebecca McDonald  Drive & resilience are undefeated.  

$55k purchase price & >20k rehab. Property is in the Campostella are & is newly vacant. Great for a flip, rehab or tear down to build new. ARV at least $135k. Rental comps in the area are all around $1200. There is new construction all around this property, which all have sold for over $230k within the last year.

Great Post.  This story kinda gives a "refresh" to my motivation to stay consistent.  Thanks & I definitely wish you much more success.