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All Forum Posts by: Ben I.

Ben I. has started 6 posts and replied 95 times.

Post: How to separate water utility for tenants?

Ben I.
Posted
  • Investor
  • Chicago, IL
  • Posts 101
  • Votes 52

Hi. I was wondering how anyone has gone about separating water utility for tenants and billing it back to them? I have isolated all the water lines for my units but haven't figured out if I should call the water company and have them sell me water meters or if there is a water meter I can buy online that possibly hooks up to wifi to report usage. What have you all done? 

Post: Would you be OK if your realtor had full sleeve tattoo?

Ben I.
Posted
  • Investor
  • Chicago, IL
  • Posts 101
  • Votes 52

As long as you drive a car that screams "I'm a successful real estate agent" you'll do great!

Now if someone's already made that joke, I'll make another. 

No one can tell what you look like when you actually answer your phone, which is the number 1 requirement for a good real estate agent, though it seems many still struggle with that. 

All joking aside, the people who would judge you for a full sleeve would 100% judge you for half a sleeve so it's a moot point. 

Post: I need to hear “I quit my job!” stories, please!

Ben I.
Posted
  • Investor
  • Chicago, IL
  • Posts 101
  • Votes 52

You came in this world with nothing, everything you have was worked hard for. You're obviously a smart man having achieved this. If I were you, I wouldn't be concerned because you are much better off that when you started life and, now that you've done it once, you can do it quicker even if the worst case scenario would happen. Which is almost impossible to happen. 


But your bigger issue is the stress your wife has. Find a way to keep the door open at your company and leave on good terms. Then the wife will be more reassured that you can go back if things don't work out the way you expected. CONGRATS!

Post: BiggerPockets Beach Bash with Brandon Turner & David Greene!

Ben I.
Posted
  • Investor
  • Chicago, IL
  • Posts 101
  • Votes 52

Sooooooooooo who's got an extra bedroom on Maui? Brandon???

Post: Two free stocks for signup up on WeBull

Ben I.
Posted
  • Investor
  • Chicago, IL
  • Posts 101
  • Votes 52

Hi everyone. I hope this doesn't piss anyone off, but I figured if it hasn't been done, I might as well post it. WeBull is a stock trading platform similar to Robinhood. They offer commission-free trades and are a legit app. Honestly, I don't think any of us should really trade stocks cuz ETF's are the best and I wouldn't trust an app like this for long term investing, but two free stocks are two free stocks. Maybe some of you will like the app and continue using it.

If you sign up you get a free stock. Then you get another free stock if you fund your account. They are offering me 3 free stocks for recommending them. You'll probably get the same referral bonus, so you can invite your friends after. I got a snapchat and groupon stock for free. Not too bad.

Here is the link and info.

Open a Webull brokerage account and receive ONE (1) free stock valued between $2.5-$250! Deposit ANY amount and get an additional free stock valued between $12-$1400! https://act.webull.com/i/lVCCmEIb4MGb/rbc/wb_deposit_us_01

Thank you if you do it.

Post: Seller attempting to sue me for not buying property.

Ben I.
Posted
  • Investor
  • Chicago, IL
  • Posts 101
  • Votes 52
Originally posted by @Troy Owen:

@Ben I. When I write offers for myself or clients, I select that Sellers 'may not' be allowed to make repairs.  It's easier to change it later if you decide to let the seller make repairs.  It can be difficult to make that change in reverse.  If you were going to walk away after the inspection your agent should have sent the Cancellation and Mutual Release along with the Notice of Defects.  Hopefully they did that for you.  Also, just because an attorney calls you and tries to scare they cannot force you to do anything; especially if they haven't filed suit.  If you didn't do anything wrong, tell the attorney to pound sand!  If they actually file suit, then you will need to contact a real estate attorney.

-Troy

 What you normally do, is what I will do from now on. The lawyer never made contact and I'm not concerned about this anymore. I've moved on. 

Post: Seller attempting to sue me for not buying property.

Ben I.
Posted
  • Investor
  • Chicago, IL
  • Posts 101
  • Votes 52
Originally posted by @Jack B.:
Originally posted by @Ben I.:
Originally posted by @Jack B.:

I've been sued for unjust BS that went nowhere. It's almost a right of passage these days. 

 There aren't many things I don't like about living here, but this attitude of your fellow neighbors wanting to sue is jacked up. I've heard people say that someone was lucky to get hit by a car because they can sue and get rich. Fundamentally, that's messed up when society thinks that way. Just my 2 cents. 

 Welcome to 2020. One of my colleagues told me his mom's neighbor let her borrow their ladder. She then fell off the ladder and sued, got 200K settlement. She broke her legs. 

One of my employees told me her daughter was in a car accident. She got 250K for her "hand injury". I've met her daughter. Her hand is fine....

A piece of crap colleague claimed he hurt his back trying to sit down in his chair because someone lowered it...funny thing is he never said anything to anyone and has had back pain ever day for YEARS prior to this, get's up and complains about back pain and does stretches daily for years in front of everyone...then claims his back pain is as a result of someone lowering his chair. He is a piece of crap human being...

It's American culture. Something for nothing. In 1996, out of all the law suits filed around the world, 92% of them were filed here in the US...spill a cup of coffee on yourself and become a millionaire...

 It's a tragedy this is how things are. I hope this trend stops but I won't hold my breath. 

Post: Seller attempting to sue me for not buying property.

Ben I.
Posted
  • Investor
  • Chicago, IL
  • Posts 101
  • Votes 52
Originally posted by @Jack B.:

I've been sued for unjust BS that went nowhere. It's almost a right of passage these days. 

 There aren't many things I don't like about living here, but this attitude of your fellow neighbors wanting to sue is jacked up. I've heard people say that someone was lucky to get hit by a car because they can sue and get rich. Fundamentally, that's messed up when society thinks that way. Just my 2 cents. 

Post: Seller attempting to sue me for not buying property.

Ben I.
Posted
  • Investor
  • Chicago, IL
  • Posts 101
  • Votes 52
Originally posted by @Mindy Jensen:

I saw a post that included a screenshot of the contract, stating you can cancel if the seller does not get back to you within the correct timeframe, which it sounds like he absolutely did not.

I know it's scary the first time someone SAYS they're going to sue you. It's even MORE scary when they actually DO file a lawsuit.

You followed the contract. It doesn't matter that he didn't know about the deadline or any other reason he may have had for not following the contract. While I am not an attorney, I would find it difficult to believe that any judge would find in his favor or that he would even find an attorney to file the lawsuit. 

 Seeing how the lawyer hasn't even made any effort to call me back, I take it you are right. I'm not losing any sleep over it after reading how many people have gone through something similar. 

Post: Seller attempting to sue me for not buying property.

Ben I.
Posted
  • Investor
  • Chicago, IL
  • Posts 101
  • Votes 52
Originally posted by @Mindy Jensen:
Originally posted by @Ben I.:

 Yes, this is in Wisconsin. Sadly, the agents got out of this entire thing. It turns out that the sellers never actually had a signed contract with their agency. So the entire thing is off of the agents' table. Right now the seller has the house back on the market but is still pursuing a lawsuit. 

I don't believe they can have it on the market and go under contract with someone else if they are still under contract with you. I think they have to release you from the contract.

Also, your contract should say Specific Performance or Liquidated Damages. Specific Performance is where they can force you to perform, or buy the house. If it isn't checked, they are limited to Liquidated Damages, which is typically the earnest money.

I'm not licensed in WI and haven't sold a house there since 2012, so this is based on my CO license and that state's laws. 

I would also put this on YOUR agent's lap and ask them and their broker for guidance. 

 Well, the contract says this:

If buyer defaults, seller may:

1. Sue for specific performance and request the earnest money as partial payment of the purchase price; or

2. terminate the offer and have the option to: (a) request the earnest money as liquidated damages; or (b) sue for actual damages

If seller defaults, buyer may:

1. sue for specific performance; or

2. Terminate the offer and request the return of the earnest money, sue for actual damages, or both.

I guess it says both things? I'm unsure how this affects anyone.