All Forum Posts by: Adrian Tilley
Adrian Tilley has started 22 posts and replied 371 times.
Post: Getting started with finding deals!
- Residential Real Estate Agent
- Broomfield, CO
- Posts 390
- Votes 125
Foreclosure information can probably be found on something like listsource.com, but they will charge a fee. I somehow got on a weekly email list of foreclosures. If you want me to forward last week's list, shoot me a PM.
For eviction information, you have to go down to the courthouse. That wouldn't be bad practice anyway. There may also be companies that will aggregate that for you.
Adrian
Post: Options for Family Member Private Loan in Colorado
- Residential Real Estate Agent
- Broomfield, CO
- Posts 390
- Votes 125
Originally posted by @Brian Kraft:
@Upen-- the credit union keeps loans in-house.
Something is wrong here. If the CU keeps the loans in house, then why do the Freddie/Fannie requirements matter? You may want to speak with an attorney about this. More info is needed to figure out exactly what everyone's desires and concerns are, then it would be possible to draft an agreement that addresses everything.So, if my sister and I create a side-document with our own shorter terms, late fees, etc and sign (and notarized)... I would imagine the stricter terms legally supersede the looser ones, yes? Not asking for legal advice, of course. :-)
I would not recommend creating a "side document" for several reasons. First, it may be difficult to tell which is the superseding document, which may depend on date signed, etc. Second, I don't think you need to do that. I bet there is a way for everyone's concerns to be addressed in one document.
Post: Looking to build contacts (power team) in Aurora
- Residential Real Estate Agent
- Broomfield, CO
- Posts 390
- Votes 125
@Jonathan Bendickson Welcome (soon) to Colorado. There are a lot of people from the PNW - I'll include you even though you're over the border. Feel free to reach out for help with whatever you need.
Adrian
Post: Investor NOT protected by LLC?!?
- Residential Real Estate Agent
- Broomfield, CO
- Posts 390
- Votes 125
Originally posted by @Mindy Jensen:
Thanks for the back story, @Mark Graffagnino. I read a few of the articles, but I didn't come across that one. Not a really smart move on Warren's part.
@Rob Beland, thanks for the clarification. That is what I was trying to point out. His whole defense was that he didn't own them, the LLC did. An LLC is not a suit of armor, and it won't protect you from everything.
@Mindy JensenYou certainly started a firestorm with that post! Interesting stuff, and I think the takeaway is that an LLC is not bulletproof. The Courts will generally find a way to hold the right person responsible. Here is Colorado, it is clear that you can be held liable for your own actions even if acting on behalf of an LLC/Corp/etc. I wrote a blog post about it here. Follow the laws and you should be fine. This guy was a flagrant repeat offender, which is why he's going to jail.
Post: Engelo Rumora & Ohio Cashflow - Media Spotlight
- Residential Real Estate Agent
- Broomfield, CO
- Posts 390
- Votes 125
I don't know if BP really has a place for self-promotion, but my understanding of this forum is that it's for advertising properties for sale. I'd suggest your blog, your website, etc. The posts are actually "ads". That's exactly what "build personal and business brand along with getting more exposure and other investors familiar with what we do" is. Advertising. No problem with that, I'm just not sure this is the spot for it.
Cheers.
Post: Engelo Rumora & Ohio Cashflow - Media Spotlight
- Residential Real Estate Agent
- Broomfield, CO
- Posts 390
- Votes 125
Hey Engelo,
I know you have a great story, but I'm not sure the marketplace is the right spot for repeated ads for your company.
Post: What to do when tenant breaks lease the day before moving in
- Residential Real Estate Agent
- Broomfield, CO
- Posts 390
- Votes 125
@Account Closed
Wanted to make sure you saw this correction. You can use the security deposit for unpaid rent. As someone stated above, that probably (depending on lease) continues until you can re-rent the property, assuming that you are being diligent about doing so.
Post: What to do when tenant breaks lease the day before moving in
- Residential Real Estate Agent
- Broomfield, CO
- Posts 390
- Votes 125
Originally posted by @Account Closed:
They didn't pay rent so rent for that month will be deducted from the Security Deposit.
This is not correct in colorado. Security deposits cannot be used for rent. The terms of the lease will control.
Post: Has anyone had success marketing to probate or divorce attorneys for leads?
- Residential Real Estate Agent
- Broomfield, CO
- Posts 390
- Votes 125
Originally posted by @Michael G.:
@Robert Davidson - Thanks for your response. I am a licensed realtor and I always send my business card which is a very professional heavy stock card with embossed raised lettering. Even if I were not a licensed realtor(which I wasn't at the time) I don't see the liability in selling to a company that provides the benefit of buying a house in as-is condition, quickly for cash. with no contingencies except clear title. That was the message I believe they were attracted to. I'm sure they advised their client that the house would never sell through traditional marketing methods via a licensed realtor. The house was a total demo complete with the not just the proverbial hole in the roof...it actually had a visible wide gaping hole in the roof.
The liability would be for a claim that you didn't get the most money for your client. If it's marketed to the general public for a reasonable amount of time, it by definition sells for FMV. If you sell it to some investor on the side, there is at least a claim that it should have sold for more. How do you know if that was FMV if no one else had the chance to make an offer?
Post: How Do I Find Denver Evictions In Process
- Residential Real Estate Agent
- Broomfield, CO
- Posts 390
- Votes 125
Originally posted by @Bill S.:
@Walker Hinshaw each county has it's own court house. You have to get with each one. With probate there are services you can purchase the lists from. With evictions unless you have online access to the lawyer data base many actions show up the same as an eviction. If I recall correctly, it's "return date of summons". These are the dates that are set for court the "summons" is issued for a variety of cases which includes evictions. Unless you can see the actual filing you don't know what it's for. Cases can be viewed online. Denver has it's own site for it's court system. The rest of the counties use the state court system web site to post their cases.
FYI most property management companies also sell property for the owners when they choose to sell. They get an RE commission for that. Through my direct mail, I have been approached by a number of management companies to purchase their client's property that I mailed to. So far they have been over priced, even for retail IMO.
Good luck to you. Send me a PM if you want to discuss further.
This is all correct. The denver system is lexisnexis and the rest of the courts are on ICCES. However, having access to that system doesn't help much, because accessing each case costs $10. Not worth the money for one potential lead. You just need to go down to the courthouse as everyone has suggested. Good luck.