All Forum Posts by: Michael Johnson

Come to the Thursday lunch meeting again and you'll find a reference for one. I have a GC, but not a handyman. I don't think you're looking for that level of work. =-)

Property M.O.B. looks like they have it all together in that package. I went back there a few minutes ago to purchase it, since I had to upgrade my Zoho to the premium version, and the page is suspended. If anyone knows the people there, let them know they need to pay their bill. =-)

Not yet. I'm going to ask around in one of my local REI groups to see if there's anyone who can help.

Having looked at several of the offerings for a CRM, I think I've decided on Zoho. The free version is a great starting point, especially due to the price point. =-)

While I'm sure some of you have opinions on using something different, I'd like to get Zoho set up and running well. I was hoping someone here had already done it and could help me build the right interface to make it work. We can do a remote session with TeamViewer or something like that, so you can kind of point me in the right direction.

Once I understand it better, I think I can expand and improve on what we started, but I need someone to help me get a self inflicted kick in the pants.

-Michael

With my new set of REI eyes, I see this differently than the general public might. Politics aside, people are going to see this as someone "stealing" a house for $6. We all know the house wasn't purchased for that price. Someone got it for $116k. That person could turn around and resell it to her for $150k, make a nice profit, and then the woman would very likely have a much lower mortgage on the property. Even with a lease option, she'd be in good shape while this gets out from under her credit (but I'm not sure it's even going to be a blemish...don't think it will).

I hate to see such a negative light shined on what we do. Personally, I intend to be as helpful as I can to someone. If she was being an asshat about the $6, then maybe she got what she deserved. I'm curious to see more of the story. Most of what I've found has been her claim she didn't know about it. Apparently her right of redemption had expired. There are a couple of versions with minor changes to them out there. I'm looking forward to reading the final chapter in this novella.

Hi BP community

I know we're all out there looking for a good deal. Every once in a while an unbelievably fantastic deal shows up. Imagine being the person who found a quarter million dollar house for $6 (actually more when you add in the penalties and interest). Here's the story of exactly that:

http://abcnews.go.com/US/wireStory/judge-upholds-sale-widows-home-bill-23503592

How does this make us look? Are we ruthless land grabbers who are out to make a fortune on the backs of "innocent" victims, or are we helping to make the world a better place by assisting people who are in a bad place financially? Maybe somewhere in between. I'm curious to see what the thoughts of the general BP membership are on this. I know what my thoughts are, but will save them for later in the thread.

Questions:

1. Is this ethical?

2. Should the investor have worked with the homeowner?

3. Is this going to make our job harder?

4. Is there more to this story I haven't found? (I've looked all over for info on this and have a lot more than the single article I posted.)

Bonus question - Are you envious of this deal?

-Michael

The only time I've met a real estate agent at the office is when I was picking up my girlfriend for a lunch date. Whenever I've met an agent, they either met me at my hotel when I was checking out a new area when moving out of state, or at my current home. They came to me...not the other way around.

You could download Brandon Turner's Spreadsheet - Rental/Flip/Hybrid Calculator and see what the numbers look like from there. It's in the FilePlace under the Resources tab.

Not to dredge up an old topic, but I'm going to dredge up an old topic. =-)

Why would a guru group like RDPD or Fortune Builders advocate getting a NV LLC set up. I was at an investors event Friday evening where a Fortune Builders alum stated she was getting her LLC in NV because it's impossible to break the corporate shield/veil there, but in TX (where she lives and works) it's easy. From reading this thread, and simply not being gullible, I know that's crap.

Without attacking the guru nature of the advice (like they have an "approved" attorney who does your whole LLC package for only $5,000...seriously, that's what they're charging), why would someone be given this advice?

There's also a lot of information being tossed about in the secret trust and land trust arena being touted as a perfect shield for your personal assets.

If there's a TX lawyer on this site, I'd love to see some specific Texas examples.

-Michael

(Yes, I spelled out Texas as well as TX, and used lawyer and attorney, both to help with people using keywords.)

Hi Randon

I'm kind of in the same boat with you. I live in Austin, and most of my searching has been outside the area. Houston and DFW still have deals to be found. San Antonio is starting to pick up. The opportunities in other states are possibly great, at least from what I'm seeing.

You'll probably want to consider a JV with someone before you dive head first into a market too far from where you live (or have close friends or family).

-Michael