All Forum Posts by: Ron Fletcher

Today the Supreme Court overturned the administrations extension of the moratorium. So does this supersede all state extensions? For example, last week the governor of Illinois extended the state moratorium to “match the federal ban”. Please no political ranting. I just want to talk law and where we go from here.

@Terry Fox

Your accountant will need to be involved because while 1031 is a fantastic provision of the tax law, there are some rules that must be followed. Your account may even have previous experience and be able to make it legit and painless. That would be my first phone call.

@Andrew Carlson

So here is a great chance to keep turning it around. As everyone has said, on a month to month just give a 30 day notice. You don’t need to explain your reasons. Then maybe do a little upgrading and increase rent.

@Alex Kovalenko

Too fishy. Reject.

@Patrick Flanagan

My understanding is Ramsey didn’t go bankrupt from normal RE investments. He was doing some extremely leveraged gambles. For anyone else, buy properties in good areas and decent down payment, you should be fine.

@Gerardo Hernandez

If you really want out when they counter just drop out. But remember some deals that start out lean

End up being great investments over time. Especially if you are young and have a long term view. Additionally if the location is good it should help long term.

@Johnny Quilenderino

I treat a medical related bad credit issue very differently than not paying credit cards, etc. Look past the score to income bs rent ratio, other bill paying record, recommendation from prior landlord.

@Breelon Bryant

Don’t try to use maintenance as a leverage to get rent paid. Bad legal move.

@Kevin Huang

If these people are pulling the lawyer card, I would get them out as soon as their lease is up. Last kind of tenant you want if something serious happened.

@Elijah White

You don’t mention how long you’ve owned the properties but in my experience it takes about a year to “stabilize “ a property before the repairs get a little more reasonable. Think long term and it’s less frustrating.