All Forum Posts by: Chinmay J.

Not following you here.. What do you mean by "and the court said..which she agreed to". Did the judge give judgement in your favor?  When the judge gives a judgement, the paperwork goes to the sheriff's department, and the sheriff will come and evict her. You will end up changing locks at this point.  Who cares what she wants..  Are you trying to handle this eviction without sheriff's department being involved? 

Does this include all the material also, or its just the labor.  Based on the estimate, I think this will include all the material also, otherwise its very high. Seems a little low when you consider material cost as well, to be honest.  How about the flooring? Are you replacing that as well, or that's in good condition.  How many coats of paint? One or two? 

My friend...  You haven't learned yet how to deal with these kind of people. You send the notices, you file the paperwork with the court, and you just keep it moving. Don't answer any phone calls, any texts... nothing.  Someone sends you texts and harasses you, just read it and laugh.  Don't even respond.  You can never win an argument with these kind of people.. They are uncivilized critters, and any valid point you make, they will shout you down, or change the subject. They will use threats, coercion, fear..every kind of tactic to stay rent free. Best dialogue you can have when them is none at all. 

If you can't handle this by yourself and its mentally overbearing on you, remove yourself from the equation and hire a PM. 

 Sometimes, the question people ask reveals a lot about them. BP is not a place to come and post..."Hey guys... I am here.. Teach me all you know..". No one can do that, and no one has time to do that.  

Go read some books.. Study the market and when you have done enough study, and have some intelligent questions to ask, come back and ask them. People will be more than happy to share their knowledge.

 Building a team in vacuum means nothing. The professionals are going to think you are wasting their time.  If you are working with a broker/realtor, try finding the deal first. Once you find the deal, slowly everything will start falling in place. 

I believe this is a CFPB requirement, which is a federal department created under Obama. Why would there be exemption for Vermont. Probably not a requirement if its not a government backed mortgage.  Maybe that's why...

 Doesn't the CD (Closing disclosure) has to go out 3 days before the closing?  I believe the rules changed Oct of 2015 for that. 

Did Grant Cardone sit one-on-one with you over cup of coffee, looked at your situation and provide you with a tailor made advice? I am willing to wager that he did not. Until that happens take everything you hear on books/tapes/CDs/podcasts with a grain of salt. Also try to trace back and see the desired audience, and assess whether you fall in that category or not. 

Like in most cases in life, the answer is it DEPENDS.  In investing in small multi family units, I always look at the neighborhood. If its a decent B- neighborhood, I will go ahead and buy the property. Sometimes small MFs are located in pretty rough neighborhood.  In that case, you are better off finding a single family house, in a decent neighborhood. You will attract better tenant. 

I have both.. Small MFs in OK area, and SF in good areas, and I will decided whether to invest or not based on the deal. 

With most Sec 8 tenants, I have noticed that they have an entitlement mentality, however they don't mess around with non-payment, and even taking it a step further, not letting RRHA pay me by not signing the HAP contract.. She was batsh1t crazy. No doubt. It was also a transferred voucher from Troy, NY, and RRHA did everything to help her. She wanted to get evicted for sure. 

Another tidbit I didn't care to share earlier, but I think would be worth mentioning is that she sent me a barrage of text messages laden with anti-immigrant, racist, and xenophobic rhetoric. Perhaps she was trying to trap me into retorting back in same manner, so as to give her fodder to go back the courts, and complain that I was not following the Fair housing Laws.. But again, I am too smart for that.  I ignored over 13 of her hateful and vile messages. 

That's a very academic stance.  In reality, the court system wants to keep the docket moving. When the defendant (who lives 3.5 miles from the court)  doesn't give two ***** about showing up on time and the plaintiff drives 125 miles one way, and gets there 15 min before the scheduled time, you can't really blame the presiding judge for not reopening the case.  

Whether the defendant had money to open it on appeal or even a legitimate case against me, is a secondary question.