All Forum Posts by: Brandon Battle

Employers will only verify information already given to you by the applicants which is that yes they work there and how much money they gross per month.Don't bother asking personal questions about work ethics and other things that can expose them to slander lawsuits,they won't answer and don't have to under the law.Landlords who aren't stupid enough to answer your personal inquiries will also only verify that they lived there and left them on good or bad terms without going into too much detail.

You need a local real estate lawyer to help you deal with this mess(literally).You need to be sure of what your rights and their tenants rights are before you make a move against them.

You need a lawyer to determine the current status of ownership of the property and to determine how to legally force his removal from the partnership.You should have done that immediately when the trouble began.Most likely is you will have to sue him for breech of fiduciary responsibility to your partnership and force him to sign away any ownership rights.That will take a long time and money however.You may be better of financially by offering to buy him off the title for a reasonable price.He may have family members desperately needing money to survive after he goes to jail,you can use that as leverage.

I would try more affordable cities that are growing well like Memphis,Indianapolis,Cleveland,and Kansas City.

It must be your primary residence I do believe

My family law attorney is Karen Stevenson in La Mirada,near Buena Park.She has a comfortable office in her family home as is wonderful to work with in a comforting environment.Not allowed to post her phone number here.Google her name for her office number.

To be absolutely honest with you,it sounds like you wasted your time and money getting a license you have no intention of actually using at all.You don't wanna give up your full time job,don't wanna work on behalf of buyers,and you don't actually wanna sell real estate even if it's your own acquisitions,correct? It would be far easier and probably  cheaper to just establish a relationship with an investor savvy realtor who can locate the desired investment properties and do the work for you.Any brokerage you hang your license with is going to expect you to pay the office expenses and franchise fees just like every other agent and it's just not worth it.You might find an independent broker who is primarily an investor and is willing to let you pay as you go.You should attend real estate club meetings to find a few and see what they would charge you for it.

Straight talk from me.Deal #1 is a loser.2 bedrooms on second floor and no bathroom? Unacceptable.The second floor needs to be redesigned to add a master bathroom or a Jack in Jill bathroom depending on space available.I'm guessing the kitchen and first floor bathroom needs replacing or at least major redecorating.Paint inside and out.Your rehab costs are closer to 50k or more if the roof and electrical needs repairs as well due to age and deterioration.Again,I am guessing at it because I haven't seen it.Deal #2 is another potential problem with a deadbeat tenant not wanting to leave their free home.The inside is probably trashed and needs a gut job.No way I buy it with the tenants still in there.Getting them out should be at the sellers expense.Another 50k rehab or more.No garage really stinks too.How is the parking situation? Parking on street only or exposed driveway?Either way it devalues the property.I say renegotiate for a much lower price to account for the actual rehabilitation costs or let them both go.

I am in the same situation in California.We bought a property that should easily sell for 950k after repairs but my partners wanted to be cheap with the rehab and now no one wants to even make a lowball offer.Hard money loans are destroying us and we're looking at a minimum 50k loss or more.

Gary Cooper ( great name by the way),do what is best for you.Selling an income property is a short term gain long time loss.If the property is in a good location that is steadily growing in value,is in good condition with no major repairs needed in the next few years(roof replacement,electrical,etc.),and is providing good cash flow,then I say hire a tough property manager,raise the rents to an appropriate level and tell the tenants to clean up or get out.