All Forum Posts by: Tom Mole

My son's up in Seattle area, but he wouldn't yet know what to make of BP, landlording or the Brandon Turner eminence. It makes me wish I were going to be there, instead of my boy. Next time maybe both of us could be there. Keep me in the loop for the future.

Thanks!

Wow, Sarah, you just purchase a great property and a lousy tenant. Keep in mind that it does not matter who holds the loan, ownership belongs to the person on title. That being said, if he elects to stay and squat in the property, you will need to evict him like any other tenant, which can take time and court costs.

You clearly are a sweet and sympathetic person. For a "professional" tenant that combination spells "sucker". I'm sure this fellow has a very sad story, but you've already been nicer than the bank would have been to him. You've paid your dues. Now your financial life depends on you taking a very severe and business orient stance.

With all due respect you must begin eviction as soon as tomorrow when the courts open. Don't put it off. Treat him respectfully as a deadbeat tenant. The monkeys on his back must never become monkeys on your back.

Make it eminently clear that he needs to move immediately. Like the bartender says, "you don't have to go home, but you can't stay here!" This is your house, not his, regardless of who's name is on the promissory note. Take care to not get mad, just move the process along and let the sheriff take care of it. Remember, you're an investor and this is just business. These things happen and you can handle it. Get your Grrrr on and make the BP community proud. Show us how this sort on thing is handled by a professional investor.

Let me know if there's anything I can do to help. I can't wait to hear how you resolved this little mess. I'll personally be on the lookout for your story.

I'm not sure what you mean by "fully functioning business". To wholesale you're basically going to want a reliable buyers list, a market strategy for getting word out that you're in the marketplace and a strong knowledge of the acquisition strategies your buyers are using. Once you nail the hard stuff, the rest is easy ;)

If you have a more specific question, I might be able to give you a better suggestion.

BTW, wish me a happy birthday. It's my birthday today!

Welcome Ryan,

What investing strategies do think you might be interested in? Tell us a bit more about your objectives. I think I speak for most of us when I say, it would be great to get know Ryan LaRocca - Real Estate Investor Extraordinaire (in training ;) a bit better.

Like @Ali Boone I'm in So Cal, specifically SF Valley. I'd like to help if I can. It would be nice to have someone in Silicon Valley to go to. Could you be that guy?

I have to agree with @Karen Margrave. If you haven't read the FREE download of The Ultimate Beginner's Guide to Real Estate Investing, then do so expeditiously. You'll learn a lot without having to shell out $997 for a guru course and @Brandon Turner will respect you more (which is a great thing). You can thank Karen later.

I'd like to suggest that you checkout the BP podcasts of which there are currently 72. You can download them as MP3's or iTunes and listen to them in your car whilst wading through San Jose traffic. You'll learn a lot from these podcasts.

Please contact me if you have any questions that occur to you. If I don't know the answer, I probably know someone who does.

Luck is for rabbits. Here's to good success!

No one seemed to notice that you said your name was "Chris". I suspect that Louise is your significant other. Welcome to both of you and your little dog too!

I would be interested in chatting more with you about your RE investing ambitions. Perhaps we could work together of a project when we some mutual benefit. Shirley and I look for opportunities in the IE as well as LA county. We're in the SF Valley, but have held investment property in Rancho Cucamonga and have developed a certain affinity for the area.

If you'd like talk about the options or maybe have a question or two, contact me. I'm pretty sure it's OK to post my email, [email protected]. If not, I figure Brandon will redact this post. (Be kind Brandon. ;)

I feel your pain. I've often wondered if the tables could not be turned on squatters. They often look for unoccupied properties and move in, change the locks and tenancy. I just wonder if there's any reason that the property owner couldn't just have someone watch the property. When the squatters leave to re-up their medical Marijuana prescription your hired 'tenant" is ready with a drill and a new lockset. They then setup shop effectively ending the squatter's tenancy.

I know it sounds pretty risky and not really cost effective, but doesn't it sound good on paper?