All Forum Posts by: Detra Harris

Great, thanks Sonny. I will be attending a REI meetup this evening.

Hi J- please send me the address.  I would love to attend.  There are several other members that may also need the address on meetup.  Thank you for the invitation.  I'm looking forward to meeting everyone.

Welcome Paul! I joined BP not long ago and have found the site to be awesome! I hope to meet you at one of the local REI club meetings soon.

Thank you for offering Sonny.  I would like to know the best approach to soliciting new investors to partner on a deal before making an offer?  I'm hesitant to submit an offer on a deal before finding an investor, however, I don't want to lose the deal during my search for an investor.

All great points.  Please look up your state laws before proceeding -- very important.  In Oakland, California, if a resident indicate a disability check is delayed, we must accommodate that resident if we receive notification of evidence. This is unfortunately common and often takes a few weeks to receive.  We lost an eviction case in court due to a disabled person indicating they could not pay on time due to a delay of their disability check (which was not the resident fault). We served a 3 Day notice and moved forward with filing the UD. The judge allowed the resident to stay and granted the resident with monthly payments over one year on the arrears. We, of course, was left with attorney fees and court costs.  

Great information Brandon and Darren.  I will be sure to read it all.  I found Biggerpockets through a Google search and it's wonderful.  Thank you!

Hi Christopher.  Thank you.  

Hi there! I live in San Leandro, CA -- the East Bay of San Francisco. I have 25 years experience managing multifamily apartment buildings; conventional and affordable housing, 6 to 900 units. I'm in the process of renewing my real estate license and would like to buy and hold small to mid size apartment buildings. I'm seeking to learn more about financing apartment buildings, as a corporation (LLC) -- buy and hold. Any tips and/or suggestions will be helpful.

Hey Jeff, you're on the right track at least.  It's a start.  Good Luck! 

I'm also a newbie, can anyone tell me how to find the nearest REIC in my area?  

I agree -- the answer is B.  The rent is late at 12:01am on the 6th.  In California, our leases also indicate rent is due on the 1st and late if not paid by the 5th.  There is a grace period to avoid a late fee, however, I suggest offering the $50 discount to residents who pay by the 1st of each month, according to their lease, and not by the 5th. Of course always check your state laws which can vary regarding permissible late fee charges.