All Forum Posts by: Eric Bilderback

Thanks guys lots of good advice.  I don't have an illegal clause in my applications believe it or not.  So I now need to document all of the weird stuff she does and get some other tenets to file a complaint.  Then the next time something like this happens I can give her the boot.  

It is frustrating to see some lady not only make my nice little apartment scuzzy, but become so self destructive her own kids have to watch their mom overdose.  What a shame.  I hate dealing with these situations from a business mindset but that is all I can do.  The fact of the matter is she will most likely be dead in a few years and her children have no future.  

This is a housing authority.  Whatever that is.  Everyone else has good jobs and are together people.  I don't have anything specific like incidence on her just a general feeling that she is a lost soul.  She asked for help babysitting from other tenets all the time.  She has excuses for everything, nothing is ever her fault.  Just an all around sorry sack.  The paramedics came, then the cops came and went through her place.  Her cop father came and got his grandkids.  She went to the hospital hopefully they will put her in a rehab.  I will talk to the housing authority.

Can I stop her from having kids there I am worried about them in the apartment with a mom that is higher then Everest.

Also I live in Oregon.  We love tenets and hate landlords here.

Help me out here.  Me and a buddy put in a fire pit all day yesterday at my apartment complex.  This tenant was hanging out creeping us out.  Turns out she is the same lady that my manager advised against letting her lease again.  I said she has to go after being around her.  Got an email today she ODed last night.  It is a nice apartment good people there this is disturbing.  The girls lease goes until November can I give her 30 days?  Or do I need to honor the entire lease?  Everyone wants her gone there.  It is a sad situation 2 little kids (that were not supposed to live there).  God help those little guys they are screwed.  It is a damn shame and my good tenets hate watching it everyday. 

PS She never would have gotten an apartment but I did not own the place when she came in.  The landlord at the time wanted her in because the government pays automatic every month and prospective buyers wanted to see it was going strong.  

I don't think I would invest in Bend if I were you.  I am a little outside Bend and it is tough to cashflow there.  It could appreciate big time but don't buy it for cashflow.  What part of Bend are you looking in?  For appreciation you want to be where the college is going on Westside.  That could be YUGE! (Isn't that what they say in Jersey.)

Nic,

I found it to get good cashflow you have to go out of town.  Hit me up some time I can tell you what I have going on.  But I don't believe you can find much in Bend for cashflow purposes.  Lord knows I have tried.  I think .4 would be on the low side though.

Can an individual 1031 from the sale of a building into another building with a partner?  I don't see why not but my client thought adding a partner to his next transaction would ruin his 1031 status.

Thanks for the helping out

But have a great time gardening!

I am not a doom and gloom guy.  All I am pointing out is that the time to create a good amount of wealth simply by using a buy and hold strategy has come and gone in my mind.  So guys like me and you who want to ride there bikes, coach tee ball, and spend more time on the lake can't we have to work (at least I do).  Thats it not saying you can't still have a great life.  I agree there is a lot more to life then creating passive income.  But the conversation I was hoping to have was hearing other investors opinions on specifically creating passive income.  And if they are considering looking into alternatives to real estate as it seems to not be putting out the returns it was only a couple of years ago.  I would love to hear other investors opinion in regards to at what point they would stop looking at real estate so intently and go back to putting money in IRAs or something less time consuming.

I do currently have real estate investments and I do love this stuff.  My problem is I think the market will slow way down and cashflow on leveraged properties is becoming a thing of the past.  More then that I want freedom.  I don't see how appreciation gets you to freedom at least not unless we are looking for the long run like 15-20 years.  It would be a lot more exciting to keep accumulating properties with cashflow from your other properties.  But in the current market would not advise someone that real estate is the most reliable & safest way to wealth.