All Forum Posts by: Darrin Carey

I'm totally biased; I think you should do both flipping and rentals. Which category you put this specific priperty in depends in your goals and current situation. If short capital, it is a flip, if plenty of capital, and its in a neighborhood you like, keep it.

It's not always about the ROI; drama, or the lack of it, matters.

@Joe Fairless  I look forward to it, it'd be good to talk for a while again. 

We are getting together the second Monday of every month. Dec 8 will be the next one.

@Engelo Rumora we regularly have 25-30 people. We get the private room now, not just a corner in the restaurant.  Just networking though, no speakers. However, we going to put together a Saturday training. We can talk about that offline.

If you're in town, you're always welcome to stop in again.

@Seth Grusenmeyer I can introduce you to the local Subway guy. I'm sure you'll have plenty of tales to share.

@Rashida Adekoya Here is a link to the meetup notice.

https://www.biggerpockets.com/forums/521/topics/244696-dayton-real-estate-networking-11-9-15

Get to know other local investors and landlords.

No formal presentations and no specific topics. Ask questions, start and join conversations.

You're encouraged to bring your deals and what you're looking for.

RSVP for location.

Event Details

@Seth Grusenmeyer Welcome to BP, glad to see you jumping in. I recognize the logo in your pic. Good food. I didn't realize there were any locations closer than Tylersville Rd.

As @Christina Carey, you're always welcome to join the networking meeting, and we are here to help. Feel free to give us a call.

Assuming you had a licensed property manager, filing bankruptcy will kill his real estate license too.

If he filed Chapter 7, and you have a secured note (recorded mortgage, or even recorded land contract), you can petition the court to release the property and have it deeded back to you now, instead of waiting until the end of bankruptcy. As there is no equity, they are very likely to do that.

You may need to explore further options if he filed Chapter 13.

Either way make sure you pursue your options to collect as much as you can from the court, although with a Chapter 7, that's likely to be near zero.

With possession, you can start collecting rent. Hopefully.

There are other insurance companies that will insure the slate roof.

Then you have the same options you have already identified and these

The city won't take the property, but there are charities that will.

• If you are part of COREE, offer the property for sale there.
• Simply list it.
• Sell it on owner finance again, but choose a better person.

The money lost is lost, so now you just need to maximize what you can do from here that works for you.

@Steve ChristensenA "net listing" is strictly a licensed agent activity. I am not an agent. I've been told that net listings are not permitted in most states, and discouraged in the rest. An agent has a duty to represent the seller in a transaction; a net listing does not keep the agents motives aligned with the seller's best interest.

Numerically, a net listing has the same result as wholesaling. However, the wholesaler does NOT have a duty to represent the seller.

Interestingly enough, in Ohio, assigning a contract is permitted, but not an Option.

We're in the real estate business.  Our product is most people's largest purchase in their lifetime, and highly regulated and scrutinized. You must ensure you do it right.

"Just do it" is a great slogan for Nike, but it's terrible for anyone in real estate. You've been doing property management long enough, How many set of laws do you have to comply with for yourself, your owners, and your tenants?

@James S.We do a monthly meetup at Logan's in Beavercreek. While I can't promise a specific mentor, we do have a lot of experienced people who like to help.

I post the meetup here on BP, but you can contact me directly for details.

If you want to meet even more people, I will be at the OREIA Convention at Great Wolf Lodge  from Nov 5-8. about 700 people; around  300 from Southwest Ohio. www.oreiaconvention.com

If you want to chat in the meantime, I'm right here in Beavercreek.

Joe Lucas in Dayton Ohio. He's also a real estate investor, so he really understands what we need,

http://lucaslawcounsel.com/