All Forum Posts by: Sean Kremer

I talk to very few people before they are pre-qualified.  The main way to get a hold of me on a rental is to email me or voicemail. Then I pre-qualify everyone before I even give them my phone number.

    You don't get to waste my time or even see my property until I know you are capable of living there without hassles. Then after I have a good list I give them my phone number and the ones that call me I already know a little about.....they look at the home and if they like it we verify back ground checks, and make choice on the most qualified applicant. I ask basically the same questions that are in this thread.  

    I still get burnt, but usually it only happens when I deviate from my script and fall for a line and tell myself, hopefully they are better now and won't tear things up. I'm usually disappointed in the outcome when I do this.  I have no idea why after all these years I still get suckered once in a while. I swear I've heard every story, but every once in a while I get sucked in and can't get out.....:)

 I can't remember when checking out their car has ever not worked to give me an idea of how their house will look. Especially if it has in transits on it from a buy here pay here place.  I always do this and it has worked well for me.....It may not be the end all, be all, but what can it hurt.  it has worked pretty well for me. 

Pay an attorney.......I'm guessing you don't want to be in front of a judge explaining all the mistakes possibly made because you wanted to save a few bucks. Asset protection is too important to do it yourself, then 'hope' it holds up in court. Those judges, I'll tell you can sometimes have absolutely NO sense of humor about do it yourselfers when important contracts need to be executed correctly. A detail or phrase not correct can mean that you have no LLC protection at all when you think that you do.

   Ask me how I learned this important lesson. ;)

If your willing to take back financing with a down stroke, you can make a good residual income......I suggest rent to own if the regulations allow it. That's what i do and it makes it easier to get the non payers out easier so you can turn around and rent to own it again.  

     I had a mobile home that I bought and moved into a small town around me........I probably had around 10 thousand in it and I swear I sold and resold that trailer on a rent to own with $2500 down 8 times with over a 20 year period. 

    Generally people that live in mobile homes seem to always be one paycheck away from disaster in all aspects of their lives.....this means that Divorce, job loss, drugs, problem kids. etc.....seem to happen to these nice people frequently. I know this because I have experience in mobile home parks. 

      What this means is you will probably get the house back many times to fluff it up.....figure some new terms and re sell it. 

      If I told you how much money that old trailer house put into my pocket over the course of time, you would think I'm lying. Believe it or not its final fate ended with a tornado that obliterated it.....the tenants wanted nothing to do with the mess so I bought the land back from them for very little, fired up the cat and cleaned the yard up and resold it for double what I gave for it...(take that California:))  What is a lot worth in Beaver Crossing, Nebraska, (look it up, I'm not joking,)  20 years ago????

 I paid $2500 dollars for it when I bought it and sold it for $5000 when the head hunters came to town to buy up lots in the destroyed town.  Probably could have got more but didn't want to get greedy...:) I would have kept the lot and bought another trailer house to move in so I could start the money machine again, but the village decided after the tornado that no individual mobile homes could be brought into the city anymore. Only houses with a foundation would be allowed. That was my sign to exit stage right. 

 People would literately thank me for taking the house back with no repercussions with only a short time left till payoff just because they were so upset with their current bad situation.....crazy...

It must be hard to be so passionate about something and not being able to make it work close to where you live.  There are so many deals out in the midwest that we take it for granted.  

    I don't know if I'd be interested in investing full time if I could only look at my portfolio by flying across country. 

    Are there NO areas of San Diego that will cash flow a little?  Even in the crappy neighborhoods?  Or inland?  Hows Imperial Beach or El Cajon?  

    Excuse my ignorance, I live in NE 

I use my credit card to buy my coffee in the morning along with anything else that I could possibly use it for, I'll even charge for things less than a dollar if they'll let me.....I don't care to deal with Physical money at all.......Then pay the balance at the end of the month.

     I'm guessing ole Dave wouldn't care for that .  Free interest for a month. :)

The way I see it, If I hoard gold and food for the proposed apocalypse, someone will probably come along sooner or later and kill my entire family to get it.

  If I hoard weapons and ammo, and the crap hits the fan........all i need to protect is my weapons stash and my family......Anything else I may need for survival is just a matter of grabing my guns and going out and "getting" it.  

      Lets hope that never happens, but if it should, I'm hoping that at least all us "idiots" here in flyover country should get a front row seat to watch the BIG cities turn into desperate war zones when their electricity gets shut off and they all go crazy....Giving flyover people plenty of time to prepare for the coast invasion. 

      Or we could just try to get along........

\. 

Get in touch with your attorney General.....believe me, people pay attention when they get a letter from that guy...:)    I know I did. 

I've learned the best method is to screen tenants better..... there's a reason those attorneys don't want to go after them...........there's no money there.......you'll also find that going after deadbeats is an expensive and time killing process.

     Cut your losses and pay closer attention to who you let in your houses...........The last part is the hardest one to perfect.  Good luck :)

My opinion? Take that 3 to 7 thousand and put into into an appreciating asset....not some slick suited dude that charges beginners thousands of dollars to sit there and dream, while he tells you all about how great he is as his staff runs your credit card in the back room.    

    I do think I have bought some of his stuff though on ebay for a couple hundred dollars.......plus someone else underlined all the important stuff for me.....win-win :)  If I remember right?  Its been a while. I'd rather learn my new guru is an idiot after spending a few hundred dollars as opposed to thousands......you can always buy into him if you have to after trying it out a little.