Hi Linda, Thanks for your reply, I am asking about my friend, he was tenant, he lost the case, Actually landlord didn't return security mentioning different damages which were not significant in ration of charges/security, so my friend has filed for security return.just before the court session, defense(landlord) lawyer asked him to withdraw the case , lawyer told him(friend, tenant) that if he(tenant) doesn't gets win then his client(landlord) will demand for lawyer's money from my friend, because it's mentioned in lease.Judge in his judgement said that charges are justified so case is dismissed, now my friend is wondering when and how landlord will claim his lawyer's charge. will he open a new case...

They know they owe the money and that they don't have a defense so they typically won't bother fighting it.If you wait five months for the issue to resolve itself but it doesn't, you are five months behind and then start the process to evict.

I tend to latch on to ideas then work feverishly to become the consummate subject mater expert in each field, I have learned a little of real estate and now want to really dive in.I am educated in business finance, with an MBA, I have worked as a Financial Analyst  for that past 6 years for a large defense contractor. 

It’s as if you went to law school graduating at the top of your class and then first day going into court as lead defense for a murder trial, you would lose because you are out the experience and field knowledge.Also, the big item that I mention above is lawsuit and loss of money.

Quitting my job is definitely not an option, except when the time is right (actually investing in the company shares... its an Employee Owned Company in the Defense-Engineering industry).I thought that 401K (at least a % of my contributions to the plan) could be used as a line of credit somehow?

This is not intended to be a doom and gloom thread about any potential economic downturn some time in the future, but rather discussion regarding the proper position oneself to benefit resulting from such an event.I would imagine that the buy and hold investors would be playing 'defense' first -- meaning making sure that their tenants are able to pay the rents/that they have liquidity to service debt.

The landlord policy and the umbrella policy both pay defense costs outside the liability limits and technically there is no limits on defense costs.

Increasing your portfolio increases your income (offense) and paying down/off rentals reduces your debt exposure and your debt : income ratio (defense).

A few phone calls later when I bring it up the wholesaler started to get defensive and said this was an odd request and made all kinds of excuses to avoid presenting a signed agreement!  

He always feels that a mortgage broker does so much more than a realtor when it’s actually the reverse, so maybe that’s why he’s so defensive.