All Forum Posts by: Ron Drake

Is Louisiana considered Landlord or Tenant friendly? How lengthy is the eviction process and costs involved? 

Thinking about some out of state buy and holds and just want to know what I am getting myself in to.

TIA

Thanks Bruce, You too!

I think it was my 3rd deal after going full time fix and flip. Had just got a $1 million credit line and went to the trustee sale and bought a property for $1,185,000 using all of the credit line (commercial bank that advanced cashier check) plus some personal funds.

Kind of sad that the Owner had buried her head in the sand but in the end sold the home with minor paint and landscaping for $1,625,000 off of a sign call. No commissions paid.

thanks James

Hi Everybody,

Just found this forum a couple days ago and thought I would jump in to see what I can contribute and what I can learn from others. 

Been flipping full time since 2006 and things have slowed down a bit here in San Diego County as I am sure they have in other parts of the country. Reading about others' success here has me feeling super excited about Real Estate again as all the business done in the last 8 years left me taking a couple months off to recharge my batteries. Will continue to concentrate on SD County but may branch out to some other markets as well and think this will be a great way to meet others.

All the best,

Ron

Of course you liked your Buyer, they offered full price.

Often with the first course of shingles it will appear that there is an additional layer when there isn't, so you may very well only have 2 layers. However, I wouldn't ever install a 3rd layer even if code permits so may be a problem for your Buyer too.

Is there any room in the deal for you to either reduce the price or do part of the repairs? If you lose this Buyer the next one will have the same issues with your house so try to get them back and get the deal done if you can.

I have sold houses with knob and tube wiring and nobody likes it and even though it maybe 75 years old as was my case, is still considered a fire hazard.

Be very carefull when entering this arena or you could end up buying a second trust deed like the seller you met. Do not trust title companies to verbally do a sarch for you unless you have a relationship with a title officer AND have allready looked at either the grantor grantee index online or actually gone to the county recorders office and looked up title for yourself. Property Radar is also not 100% accurate so be careful there as well. And don't even think about going to the sale and piggy backing on the investors there. You may get away with it a time or two but the wolves may eat you alive.