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All Forum Posts by: Scott Meredith

Scott Meredith has started 4 posts and replied 37 times.

Post: Property Stolen Marion City Cops Do nothing!

Scott MeredithPosted
  • Real Estate Investor
  • Redondo Beach
  • Posts 37
  • Votes 18

Bill Gulley got it thanks

Post: Property Stolen Marion City Cops Do nothing!

Scott MeredithPosted
  • Real Estate Investor
  • Redondo Beach
  • Posts 37
  • Votes 18

Yes Bill, any one can do "citizen's arrest" a good cop though will help you determine if you have probable cause for arrest before they take them off to jail for you. This way you don't have to worry about false imprisonment issues.

As far as the cameras go, that is more from my personal experience. I had my house burglarized, and the police for where I lived couldn't do anything because there was no evidence to link to a person. The disappointing thing was I had already purchased the system, but had not installed it yet. Average police response times for an alarm call is 45-60 minutes or more (panic activations is different). So the best case scenario is you get a police report for the crime that occurred at your property. I would rather spend the few hundred dollars for the camera system, than waste $30/month on a monitoring service and security alarm. The alarm will never catch them, cameras will.

As a side note, how do you tag someone with the @ symbol here on BP?

Post: Property Stolen Marion City Cops Do nothing!

Scott MeredithPosted
  • Real Estate Investor
  • Redondo Beach
  • Posts 37
  • Votes 18

In my day job I am a cop so I am understand both sides of this story. I have worked in almost all the capacities I will be detailing here, a dispatcher, a street cop, and an investigator. Here are some tips for everyone to get a little more responsiveness from cops as they show up. Now these tips may or may not work. As with any crime, you need to be able to prove who did it. A lot of times this is impossible because you did not witness your tenant actually steal or destroy your property. This is why in almost all cases it is a civil matter, not criminal. The reason it is civil is because the tenant is entrusted for the care of the property during their lease according to the contract. So while you can easily prove responsibility, it is a much harder thing to prove guilt of the crime. Think OJ, not guilty of the crime, but found responsible for it.

First get familiar with the sections of law that pertain to Theft, Grand Theft, and Burglary. There are websites where you can search your laws, usually it is all in the penal code (CA website is http://leginfo.legislature.ca.gov/faces/showCodesTextSearchResults.xhtml a good search term is “find (your state) code”). Theft and Grand Theft are basically the same, but the dollar amount is different (in CA Grand theft is anything over $950). Burglary is basically entering a structure and taking anything no matter the cost (at least in CA it is). So once you have this knowledge you are more prepared to call the cops and get past the first screening from the dispatcher. Realize in most cases the dispatcher answering the phone and sending the police to your location is a civilian with much less training than the cop coming to your house. When it is a landlord tenant issue they will usually only come out and keep the peace because most calls they do get are for civil matters that only can be handled in a court. But if you call to report a theft, or burglary, there is no question it is a criminal matter.

Second, when the cops do show up, be prepared to wait, because it is not a high risk priority, have all the information ready for them. All the recruiting video I see put out by different agencies show the fun and exciting part of the job, but most of our day is filled with writing reports, this is extremely boring and as you can guess, a lot of cops try to get out of writing a report if they can convince the person they are dealing with it is a civil issue. So they way to be prepared is to have a report already typed or written up explaining the circumstances, property stolen and/or damaged with the costs and serial numbers if you have them in the case of them being stolen, and any opinions you may have to lead the detectives in a direction. Cops cannot put their opinions in a report, only fact. Things that will help a lot are any neighbors that saw them loading the property into their vehicle or witnesses to them taking a hammer to your walls. I personally plan on having a $300-$400 camera system that monitors the exterior of the building that will record a month of activity. I also plan to do monthly inspections of my properties so that if something does happen, I still have it on the camera system. Things that would prove guilt in a criminal court. Some agencies without this type of information may not take a report.

Third is the Detective. He/she has to prove reasonable suspicion that the person committed the crime you allege. Like I said earlier this is done by witnesses and or video. Once the detective has enough information they can go to the district/city attorney to file criminal charges against the suspect and get an arrest warrant. If you get this far, plan on coming to court to testify, you would not believe how many people go free because the victim does not come to court.

Final tip, if you truly believe that the cop or detective is not doing their job ask for the supervisor. Field cops will always have a supervisor available to come to you. Hope this helps.

Post: Creating a Website

Scott MeredithPosted
  • Real Estate Investor
  • Redondo Beach
  • Posts 37
  • Votes 18

Another great website to get things done for your website is www.fiverr.com I had a logo designed there for my wife's restaurant/catering business for $5 and it came out great. They will also make web graphics for you and videos. As far as "dressing up" your website also I use wordpress for all my sites and I can download and install themes that let me do a lot of things without needing to know how to do any code.

Post: After i buy, how to rent???

Scott MeredithPosted
  • Real Estate Investor
  • Redondo Beach
  • Posts 37
  • Votes 18

You may have already done this, but double check and make sure the park owner/manager knows you are renting the mobile home. I had a deal killed because no matter how much smoozing and explaining I did a park would not allow me to rent the mobile home. Also remember that in a park usually the tenant you pick will have to pass the park's requirements as well, so find out what those are before you start your screening.

Post: Inherited Property Trust Leads

Scott MeredithPosted
  • Real Estate Investor
  • Redondo Beach
  • Posts 37
  • Votes 18

I recently went to my REIA meeting and heard about sending marketing pieces to a list of people that inherited their real estate outside of probate through a trust. I came here as my first resource and found this thread

https://www.biggerpockets.com/forums/93/topics/75086-probate-list-vs-inheritance-list

My question is....has anyone found a way to derive this list on their own without having to pay for the list, which from the aforementioned thread seems to be a little iffy at best. Thanks in advance...

Post: Probate Lead

Scott MeredithPosted
  • Real Estate Investor
  • Redondo Beach
  • Posts 37
  • Votes 18

Basically you still have the same exit strategies, it just takes more understanding when you set up the terms for the exit strategies you plan for. It is based on what you want to do with the property. If you want to keep it as a buy and hold, negotiate terms for a long term contract that will have a low enough payment that you can cash flow. If you are going to flip, you can ask for no payments, or very small payments until you sell and then cash him out. If you are going to wholesale, like I said you need to make sure you know what your end buyer wants to do and set up the terms for them. The only difference between buying on cash and terms is the seller is the bank, so instead of having to go to a team of different financing partners (hard/private money, conventional, etc) you only deal with the seller and they act in what ever capacity you are looking for. The key to getting terms to work is to find out their problem and solve it for them. For example, if he only need $300 a month because he is retired and bought a new car, and that is the new payment amount for his car, then offer him that. If they need more, set it up kind of like a reverse mortgage where they get a bigger amount each month. The great thing with selling on terms is you can set it up anyway you want as long as the seller agrees.

Post: Probate Lead

Scott MeredithPosted
  • Real Estate Investor
  • Redondo Beach
  • Posts 37
  • Votes 18

Would he sell on terms? You could potentially get closer to his number if he is willing to sell on terms. I had a mentor tell me we can only really buy a house two ways ( I think more like 2.5) with cash or on terms (the 1/2 is a blend of the two). The different strategies (sub 2, lease option, etc) are different methods of terms. So if he does not want your cash offer, try terms. It also depends on your exit strategy though. But even on terms if you were to wholesale it you still could if you had a good buyers list.

Post: what should I be looking at when I analyze a market?

Scott MeredithPosted
  • Real Estate Investor
  • Redondo Beach
  • Posts 37
  • Votes 18

Thanks Chris

Post: Finding off-market Multifamily Deals: In Detail!!

Scott MeredithPosted
  • Real Estate Investor
  • Redondo Beach
  • Posts 37
  • Votes 18

For evictions, I have been calling the courthouses that do eviction and ask for the Sheriff Levy Crew. These are the guys that actually show up for the the eviction after the judgement has been decided by the Judge/Commissioner. I network with them and get leads of evictions from them and then offer a referral fee. No fee unless I buy and I get all the info for free.