All Forum Posts by: Zoran Stanoev

Cynthia, if I may make a suggestion.  Instead of saying, I'll help do whatever.  Maybe provide a list of some of your skills that someone may need or even better, what exactly you can do to help someone find deals.  A general statement saying you'll help, puts the ball in someone else's court to find something you can do, which at that point, is counter-productive for them.  Best of luck

Is it too obvious to suggest googling the names of the companies?  

Another idea is to check with your secretary of state's website.  Assuming the companies are incorporated in Florida, they have to file papers in Florida, pay fees, and have a registered agent listed.  The website should have the name of the president and registered agent, and their contact info.  

And your'e not a desperate wholesaler.  You're a wholesaler with properties.  you've taken some initiative and if you bring them properties, they'll be grateful that you found them. 

Good luck

@Account Closed it doesn't matter who the tenant has helping him/her, if the landlord has an attorney and the tenant isn't paying rent, the tenant is going to lose and get evicted.  Even in Chicago, a very pro-tenant forum, a judge will have no choice but to enter an eviction order.  it's just a matter of when, not if.  

Jay, it sounds like you're a novice in the eviction process. I'd recommend that you hire an attorney to help you out. Any money you may save by doing it yourself you'll lose in the long term. The attorney will know exactly what to do at every turn. Whereas, you can get caught in a situation where the eviction can't move forward because you don't do things properly and it could be a year before you figure it out and get the tenant out. Also, it sounds like you're tenant is a professional, and you'll need one as well. Good luck

Based on the info you provided, if your number priority is to get out of that house, I think you're going to have to become renters.  The lending requirements are very different now than they were in 2007, so with no cash and marginal credit, it's going to be very difficult for you to qualify for a bank loan.  

With respect to what to do with your house, you can sell or rent.  If you choose to sell, contact a realty office and ask for an opinion as to its value.  If it's less than what you owe, a short sale is what you'd need.  There are people that specialize in them, so I'd recommend finding one of them.  If you want to rent, again, you can speak to a realtor and ask what the rental market is like and you can then see if that's something that works financially.  But don't forget the other part of being a landlord . . . dealing with tenants.  It sounds great to tell people you have a rental, but it can be a rude awakening.  Best of luck.

Sarah Montes can you please direct me to the section of DF where it says 6 months. Trying to keep up. Thanks!

I like that idea too. Good luck! 

Andrew, first, usual disclaimer, talk to an attorney and tax professional. With that said, a good place to start, even before talking to either because they'll ask, what do you mean by "they'll put it in the business." Will they loan it? Contribute it as part of their capital contributions? There will be different implications based on how the business receives the money. Also, careful with how the purchasing business handles the money. There will be tax implications there as well. This will depend on how it's formed, what tax election it took, and how it distributes the money. Good luck

You don't personally have to be on the board to change the rule. I know HOA can be crazy, but have you reached out to the current board? Maybe they have other ideas too.

I like WI Eric 's idea. I know when the market fell in 2007, 8, and 9, that a lot of HOA's changed their rules on how many units could be rented out. So many owners were getting crushed and needed to get out, but couldn't sell. I'd try to sell it as, it's what's best for the health of the building. HOA's have that rule cause they think renters won't treat the building as nice as owners. But if the building/owners are having such a hard time, what's best for the building is to get units filled and help out the owners. Good luck