All Forum Posts by: Rob Gillespie

@Sarah Williams

Unfortunately you are at the mercy of the courts.

I would not lose sleep over it because it is not worth your health to stress out over some sticks and bricks. I know this is easy for me to say, but it is just part of the business.

Now for a solution!

I would begin by offering them money to leave. Explain your concerns tell them you’re sorry that it did not work out and perhaps be willing to give them back their security deposit to turn over the keys even though the property has been destroyed. I know this sounds completely crazy, but if the house is getting more damage by the day, it could be a cheap fast solution.

Depending on the amount of damage they are doing, it could be construed as malicious vandalism. This could become a police report with an insurance claim.

Of course you can always still get an attorney go through the proper channels of letters and filing a case in the court system, but with everything going on it could take quite a bit of time.

I hope things work out for you!



@Joseph Wise

I am the president of the greater Cleveland real estate investors Association.

We actually have a weekly money zoom call that is kicking off next month. We have done is in the past but in person. Ours are focused on finding money for One project matched with one investor. We never got into discussing syndication.

My question would be if you were discussing syndication, what would be the purpose of the meeting? Would you be discussing how to do it? Would you be trying to raise money on the call? That is regulated activity by the SEC , so I would definitely consider how the Meeting with Look before launching it.

Do not let me discourage you, I’m just telling you what some of my questions would be.

Good luck! 



@Scott Gordon

I’m not sure if there’s a one size fits all calculator to tell you how much money you need to buy a rental property.

There are so many different options available on how to bring money to the table and how to structure a deal that there is no single answer that’s accurate.

Depending on the property cap X might be coming into consideration. Does the house need work immediately to be made habitable?

I think if you posted the deal on here and put all of the details and even added a couple of pictures that there are enough people that could give you in accurate answer.

Good luck!

@Jeff Castro

You cannot make this stuff up, LOL

I can just picture exactly what you walked into because I have seen it so many times.

It clearly sounds like you already have such a strong case with breaking the lease early and damages that there is plenty to go after in court.

With that said, there is a big difference between winning the case and getting a judgment and COLLECTING on a judgment!

In the event Your tenant was running a legitimate elder care center out of your house, they may have business insurance that you could go after. I highly doubt that is the case, but I’m trying to give you some glimmer of hope.

I would definitely take the time to go to court and to get a judgment, I would just not count on getting the money easily.

Good luck!!!

Hi Abraham, 

Welcome to BP! Great place to ask. 

I could answer a few ways depending on your offer, but do not want to add to the confusion. 

Lets say the house is 100k

There is 50k owed on it. 

You just offer the 100k and your buyer is to deliver a free and clear home.

The title company or the attorney will do a title exam and get payoffs for the liens. 

You bring your 100k in, the title company or attorney pays off the liens and then gives the balance to the seller. 

This is a very watered down answer, but wanted to keep it simple. 

Hope that helps. Good luck!

Hi Ronaldo!

Welcome to BP! Great place to find answers. 

I am actually looking in that area for myself as a second home, so ya have a buyer you can call right here! 

 It has been 9 years since I wrote this blog post here on BP, but this may give some insight. 

https://www.biggerpockets.com/...

Do not over complicate it.

Some simple things to remember. 

Do not start out trying to wholesale off of the MLS. Find non listed property.

Know your numbers. Do research. make sure you know how much it can sell for and how much work it needs. 

The right deal will bring the buyers to you. Do not get caught up in building a buyers list before you even have a deal.

Hope that helps. Feel free to reach out to me on anything ya run across down there!

Good luck!

Hi Veronica, 

I am not an agent, but I did take all of the classes. 

What you can do will depend upon your state laws and who what your broker will allow. 

just a few things. 

Represent sellers

Represent Bank owned properties 

Represent Buyers

Perform BPO's (Brokers price opinion)

Manage Rentals

Generate referral business for other agents in or out of your area. 

These are just a few. I would pick one thing and be really good at it. 

Being a jack of all trades usually means that not a one of them can pay the bills alone.

I use the name Rob The House Guy because I specialize in residential investment opportunities. 

I have done commercial and I have sold to retail end users, but I SPECIALIZE in working with investors on houses.

Hope that helps.

Remember this...

NOTHING WORKS UNLES YOU DO! :-)

@Gayle Eisner 

This is a tough one. I have had to evict friends and it NEVER goes well. Kicking a child out is even worse. 

I can not tell you how many homes I have purchased with grown kids that came with the property. I would walk in and it would be a Tuesday at 2 pm and a 40 year old man is smoking weed and playing video games. The parents just shake their heads and tell me that is why they are selling to me!

I would find another reason to have her move. Tell her you are doing a full remodel, you are selling, you are doing Air B and B. Whatever the reason, do not make it about her or her actions. This could drive a wedge between you.  I am sure by the way you are talking that you do not care, but mad wears off  and then the damage is done. 

You may even turn yourself into the city and get a citation to clean the house up and show her. Give her a deposit and first month at a better place while you are "Remodeling" this one, with the idea that she may be able to return. 

Good luck with this one!

It is defiantly time to clip that umbilical cord! 

Hey Nake!

Love Clearwater! My wife and I go there a few times per year. Pan Filo's Co. Bar & Grill has  the best Mexican food in the area, and of course they carry Muscle Vodka!

Now lets talk real estate. I do not like any areas that the purchase price is significantly higher than the replacement cost.That just screams bubble to me. Being close to the water also is gonna be tough on insurance rates. 

Parish Florida which is about 45 min outside of Tampa seems to have a pretty good bang for the buck. 

Florida in general is really getting  more popular by the day. Whatever ya invest in, you should be fine because demand is on fire!

Good luck and Cheers!

Hi Jeffrey.

Welcome to BP! great place to ask that question.

Most owner occupied houses are sold on the MLS by an agent. With that said, I do not feel that the LISTING agent is needed. There are discount brokers that will pop that house on the MLS for 500 bucks and the BUYERS agent will be the one that shows the house to their clients.

Have them offer a 1k bonus for the buyers agent in the brokers comments. This will motivate them to push your property over other ones. ( yes I know the is not ethical for an agent to have their bonus in mind over their clients best interest, but people are people) 

The listing agent will still be involved, but not there showing the house. This strategy will save them a few grand.

The good news in this market, it is gonna sell either way if it is priced half way right. They can interview a couple top agents and have them show comps and this will give them a better idea of how much to ask. 

I am sure I will have some haters on this post, LOL. 

good luck to your folks!