All Forum Posts by: Rod Sanford

This is a common situation.  The owners will until the last minute and file for bankruptcy.  This throws a monkey rench in everyone's plan.  The cure to the problem is to find out what has caused a dramatic change in income, and come at it from a different standpoint.  Maybe lease option purchase buy back.  The objective is make something rather than nothing on the job.

I have done a little research for you.  The louisville housing and trust fund was set up for people with vacant and abandon properties.  They have a web site with the guide lines.  Louisvilleky.gov.  They also have other agencies on there that  might help as well. They deal with developers, for profit, and non-profit agencies as well. Good luck.  In think this will help.   

It is not a hard situation.  You need to find a local non-profit in your area like Habitat for humanity. You can donate the property for a write off.  They will in turn negotiate with the city to have the liens reduced or removed.  Non-profits deal with these types of situations every day.  Go online and see who is building affordbale houses in your area, and this could solve your problem.

Also, in floida and a few others states.  The owner has rights to the difference between the high bid and the tax deed amount by simply filling out the proper paper work.  This applies to the foreclosure auction as well.

I live in the Jacksonville market.   It is considered one of the best markets for 100 plus units.  In 2014 it was in the top 5 for commommerial real estate.  There is a lot of hedge fund activity in the area.  There has been a lot of large commercial purchases lately,  which indicates a growing market.  The San Marco area and Avondal are very hot areas but the prices are skyrocketing.  The city is planing a huge project on the shipyard.  The rendering calls for commercial and residential communities.  It should be a 100 million dollar plus project.

It sounds like you have a irresponsible tenant that calls you when the least little thing happens.  You should do an addendum to the lease which states that the tenant is responsible for damages incurred by neglect or destruction to the properties and it's contents.  Also, stated that repairs that are continuous in nature will cause automatic eviction.  Switch the responsibility back on the tenant.  You are a landlord not a babysitter.

if you are going to form a team, make sure the your objectives are spelled out clearly.  Make sure that your funds are in a business account, and you have a good lawyer.  Good being the key word.  Teams are good if everyone on the team has the same agenda.  The accountant has to be a intricate part of this formula.

 Give me another email address

do you have another email address that one keeps returning

Let me no that you received it.