All Forum Posts by: Tiger M.

@Royce J. There are enough boarded Vegas 4 flexes available why bother with the buried note, boarding, servicing, missing assignments, forced workout and foreclosure. How many do you want? 

@Bob Malecki

Sounds like its time for a phone call or certified letter. You do not have to accept partial payments. Borrower should be informed that the arrears are due and any funds will be applied to the taxes and late fees so you suggest a payment plan that increases the monthly payment until settled. Thats a starting place. I assume you don't want to file fcls and prefer him to perform. 

Bob,

You have the right to preserve the assest and collect rent through the assignment of rents it seems from your comment. You may need to have the assignment filed in court so you are the established landlord. Then you can tell the occupant to enter into a rental agreement or be removed from the property by the court.

We used Sun Title in Miami to track down an HOA, I think we paid $69.00

We have seen this a couple times. We had our attorney appointed to become the executor for the probate, then completed the redemption through the probate court. Attorney didn't charge us anything as he was paid from the estate proceeds.

@Account Closed well look who came out of the shadows. Welcome to the forums Miss C!

@Devon Garbus

We have Arts District projects that are top shelf if thats in the wheelhouse.

send me info. Jeez, I thought you would call me about stuff like this.

@Eric Everstine You should get with @Phillip Dwyer if your looking for a good manager that works hard and is honest as the day is long. 

They should have told you not to waste time marketing the property until it was vacant. The Las Vegas market moves quickly and folks like to see the place vacant movie ready. Common sense would say start a couple months early but it rarely works out. Those folks that show up with a Uhaul looking at rentals can't wait. I will never understand why anyone would move across country without a rental secured but thats Vegas.

Even though the parking lot was recently slurry coated and the roof was redone, I added in a reserve amount of $1000/month in expenses on the APOD. May be a bit high. All refrigerators, HVAC, carpets were replaced in past 36 months as well as the stairways resurfaced. The below are owners actual numbers

NOI=@128800

Contact me and I will send the APOD