All Forum Posts by: Toby Fellows

Hi Jerene, When is the next meet up. thanks Toby

Hi Brooke, Thanks For your reply, thats really helfull info!

Hi Everyone, Im looking to get some advice on evicting a former owner who isn’t playing ball after a foreclosure sale.

I purchased the Property on the 5th November, it appeared to be empty but turned out to be occupied. I left numerous contact me letters to speak to the owner to discuss options and potentially cash for keys. Ive also knocked on the door on multiple occasions. No response! I know there is someone in there as i can here a dog inside and the letters are gone every time i visit.

I then Issued a 3 day Notice to Quit last week, no response! So now i need to file a dispossessory action to evict them under unlawful Detainer.

How do i do this? do i need a lawyer and a specific one at that? Any advice would be appreciated.

Thanks

Toby

 Thanks Josh appreciate it. 

 Thanks For the Advice @lydia &  @Ray Hage, thatsh helpful. ive Just started the online training and about 3hrs into the 75 hrs so Wish me luck! If you have any recommendations for brokers in the Atlanta area please let me know.Thanks 

looking for Some advice. Like many investors I'm looking to get my real estate license to help speed up gettong access to, view properties on my schedule, have access to the mls etc. From what I've read The Georgia Real Estate Commission requires that a broker sponsors you before you can apply for/reciece your license. Is this correct? and if so I have a few Questions.

1. What broker would sponsor me considering I'm not intending to become a full time Realtor and give them regular business?

2. If I act as my own realtor and end up purchasing a property and receive a commission does the broker I'm affiliated with get a piece of that? its fine if they do as its not my main motivation for getting my licence but keen to understand how it all works.

Any advice from someone who's done this already would be appreciated.

Thanks

Thanks Bryan, Yes i think having something legally binding ahead of time is a solid idea. Would a joint venture agreement work or is that specifically for invesment properties? 

My good friend went through a messy divorce which hit him hard financially. He wants to get back on the property ladder and we have talked about me putting in 50% of the deposit needed to purchase a house. He has a good job but no savings built up. We have agreed i would be on the deed but not the mortgage. 

We discussed that in 2 years he would either sell, Rent it out ( and we co own the rental)  or buy me out of my share at present market value.  

Pro's as i see it. I am investing in real estate without the need to put in 20%+ deposit, He pays the monthly mortgage which im not liable for, I benefit from appreciation.. I am very handy so would do any upgrades and he would pay for materials. If he sells he wouldnt be subject to capital gains?

Cons', My money is sat in this house which i cant use for any other personal investments. He would need to add me to the deed post purchase. If he changes his mind about selling / buying me out i am stuck owning half a house. 

Is this a good idea & am i missing anything? Thanks

 Thanks Monica. 

I’m looking to create my own lead generation system to generate off market deals but the contract I have with my wholesaler make me wonder whether I’m sailing too close to the wind and if they would potentially have me up for breech of contract. One of the clauses states

‘representatives, and assigns, shall not, for a period of two (2) years, initiate, solicit, negotiate, or enter into a contract for real estate with any of  (wholesalers name) Contacts or seek to by-pass, compete with, exploit, avoid or circumvent (wholesalers name) from any business opportunity by utilizing any (wholesalers name) Contacts or confidential or proprietary information obtained from (wholesalers name) to their detriment.

Is it ok to hunt for deals and just ensure that I document dates of contact so should a situation arise where they also put the same opportunity in front of me I can validate I was already speaking with them or am I overthinking it? 

Thoughts?