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All Forum Posts by: Jeff B.

Jeff B. has started 3 posts and replied 243 times.

Post: Anyone used mediation before?

Jeff B.Posted
  • Real Estate Investor
  • Lake Worth, FL
  • Posts 263
  • Votes 92

I don't know about your state but in Florida the court mediators are lawyers who volunteer to mediate the cases. It seems to work out well when it is a non-payment of rent case or issues regarding an HOA overcharging you.

The main thing people don't realize about court is it's not suppose to be a bonanza for anyone but just make you even or whole before whatever happened.

Since these are lawyers present they will actually educate either side if they interpreted some laws wrong or advise them to consider an offer if it's fair but they are trying to be unreasonable.

Post: First Eviction! Questions...

Jeff B.Posted
  • Real Estate Investor
  • Lake Worth, FL
  • Posts 263
  • Votes 92

The MA state website seems to have some good info on the
eviction process. The link is to long to post here so just google search "Massachusetts eviction laws" and the third one
from the top should be titled "Tenant Rights & Responsibilities"
They have some detailed info on how the process works in your state.

Post: Newbie investor, considering FL

Jeff B.Posted
  • Real Estate Investor
  • Lake Worth, FL
  • Posts 263
  • Votes 92
Originally posted by John Henry:
I'm looking at a property in Canoe Creek Estates in St. Cloud. It has a $322/yr HOA and a community pool.

Does anyone know how to get in touch with the HOA and see just what the deeded restrictions are? I am wary of HOAs. JH

This is the link to the property management company website with the associations contact info.
http://www.myhoasolution.com/Canoe%20Creek%20Estates/default.htm

Post: Getting Title Insurance on Property AFTER getting Quit Claim Deed in FL

Jeff B.Posted
  • Real Estate Investor
  • Lake Worth, FL
  • Posts 263
  • Votes 92

I have to agree with the Title companies. They were burned when some scammer's down here were filing falsified quit claim deeds and transferring ownership when they didn't even own the property. I think they were able to do this for about 15 properties before they were caught. Of course these were vacant and abandoned properties but no one caught on to this until after the sale's were completed.

Post: Marijuana growing in my rental

Jeff B.Posted
  • Real Estate Investor
  • Lake Worth, FL
  • Posts 263
  • Votes 92

Brandon actually has a good idea with the newsletter. As for entering the property as far as you know you heard the water running and knocked and no one answered so you entered because you thought a pipe had burst and the sound stopped and you couldn't find the source.

For everyone who says don't worry about it when their house is seized and being auctioned because the courts proved you knew about the tenants growing pot and found 30 plants in the attic.

Post: My First Flip !!

Jeff B.Posted
  • Real Estate Investor
  • Lake Worth, FL
  • Posts 263
  • Votes 92

J's right I spent almost 13k on a condo flip and it didn't really involve any serious repairs.

As for water damage, mold and everything else I would definitely get some new estimates and remember to add anywhere from 5 - 10 % for the damage the contractors will uncover that you don't see. Don't be afraid to ask the contractor or foundation guy what the worst case estimate would be because this is the bank's problem now not yours so don't make it yours unless it's worth your while financially.

Post: Marijuana growing in my rental

Jeff B.Posted
  • Real Estate Investor
  • Lake Worth, FL
  • Posts 263
  • Votes 92

There is something illegal about it because Federal laws trump state laws and the Feds don't recognize medical marijuana laws.

DEA states it's a Schedule I substance with no currently accepted medical use in treatment in the United States.
The DEA doesn't want a casual user they only want the
growers and trafficker of larger quantities of pot. They currently tolerate the states medical marijuana laws but at any time can arrest and prosecute for breaking them. Not to mention does anyone know the forfeiture laws regarding allowing something like this?

On a lighter note in Amsterdam they tolerate the natural growing of up to 5 marijuana plants as long as it's for personal consumption.

Post: Invest or Pay off Student Debt?

Jeff B.Posted
  • Real Estate Investor
  • Lake Worth, FL
  • Posts 263
  • Votes 92

If you have a solid investment strategy then I would invest and keep paying on the student loans. I still have some at 2.125% and there is no bank anywhere that will lend to me at that amount.

If you have other debt, auto, or credit card I would definitely look at paying those down as the rate is usually high compared to the student loan.

Post: garage door opener - make a copy?

Jeff B.Posted
  • Real Estate Investor
  • Lake Worth, FL
  • Posts 263
  • Votes 92

You should be able to get the make and model off the opener and you can probably find the remote transmitter cheaper at amazon. If it's a rolling code type you have a button on the back of the opener that you push usually then you press the button on the remote a couple of times and it's set.

Post: Property is on an old munitions range--what to tell applicants

Jeff B.Posted
  • Real Estate Investor
  • Lake Worth, FL
  • Posts 263
  • Votes 92

I would also check that your insurance doesn't have a clause that excludes it from covering this type of event.