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All Forum Posts by: Robert Berth

Robert Berth has started 4 posts and replied 9 times.

Post: Note Investing Training

Robert BerthPosted
  • Posts 9
  • Votes 1

Thanks Rick, that's what 'm looking for. For people to recommend some of the classes or webinars

Post: Note Investing Training

Robert BerthPosted
  • Posts 9
  • Votes 1

Hello all, 

Looking into getting into the notes business. Have a good amount of capital (~$300k). I'm looking to get some training, can anyone recommend any books or online classes available where I can get some sort of training and start getting my feet wet. 

Thanks

I was looking for notes training and ran into his sites -- he's very active and has a webminar coming up in Jan 2022. Thankfully I found this post. 

I know @Bud Gaffney, its been a back and forth. Keeping it means a lot more time out of my day and calls at random times which I'm trying to minimize. But a SFH in the area where its at could be worth even more in 10 years. Decisions decisions.

Thanks @Guy Yoes and @Steven Goldman. Actually I lived two of the last five years in this property, so the it would be a tax free sale (Florida law). You guys provide great insights. 

We own two rental properties, both are SFH, one of them I have a 300k loan at 2.65% and rented at $4100/m, my cost all in is $3200/m. In the past year I've had two families moving out early, and about a call once a month because the tenants was super picky.

I can sell this house and make about $300k after taxes liquid. My wife and I are wondering, maybe we can cashout now and invest the $300k in notes (or part of it), or flipping properties which I've always wanted to do. Or keep it and risk a crash (which I don't think will happen).

Suggestions on what to do please!

Post: Will Umbrella Insurance cover this sutiation?

Robert BerthPosted
  • Posts 9
  • Votes 1

Hmm, but according to some online articles it covers libel? This article from AllState mentions civil lawsuits as well:

https://www.allstate.com/tr/ho...

Post: Will Umbrella Insurance cover this sutiation?

Robert BerthPosted
  • Posts 9
  • Votes 1

Hi all, I'm reviewing my insurance for my home and rental property and considering adding umbrella insurance. I can't seem to find the answer to this question, let's pretend I have tenants that for whatever reason disagree with regarding late fees I imposed for paying their rent late, or they broke their lease and I charged the early termination fee, all within the contract but they still want to go to battle for it. We get into an argument and I get sued. 

Will my liability and/or umbrella insurance cover my legal fees and potential judgment against me?

We are in Jacksonville, FL. We rented a property to a couple, after the first month they split up. The guy left and the lady stayed for a month while she searched for a new place. She told us that she needed to move out because she didn't have the means to pay with just her salary. Our lease contract has a very clear stipulation that early termination means forfeit of the security deposit which is two months deposit. 

We were able to find new tenants and sent the previous couple notification of our intentions to keep the security deposit. They called and after many insults, they made it clear that they were expecting their security deposit back and said if they knew the deposit was on the hook they would have completed their lease.

We did find new tenants, however, while I understand they want their deposit back I've had to pay two months' worth of commissions, one for the couple that left and one for the new tenants. So in the last three months, I've to had pay two commissions. My attorney advised us to keep the deposit to cover those costs plus the cost of about a week of unpaid rent while they were moving out.

So legally we are covered, but what has everyone else done in this case?