All Forum Posts by: Stephen Masek

I've corresponded with Ellis off-line, and understand that the speaker that evening can come-off different than he is, so we'll try going tonight (September 3) to the OC FIBI to see if we like it.

Welcome! Many of us have talked about getting together, and some of us did at a recent event where Will Bernard spoke.

How about this - meet at BJs in Laguna Beach for Pizza one evening? They can put tables together to make a long one. How about a week from today (September 10), meeting at 5:30pm?

Too far to drive is no problem, as you can fly;) Property managers work for 8% of the rent per month. If you have the time and desire to be a property manager and an owner, then the properties need to be closer.

There are many places with good deals - we all run out of money before we run out of properties to buy. There are two basic kinds of single family places most investor seek:

- Newer nicer in good neighborhoods with good schools, convenient travel to work, and plentiful shopping. Some of these will provide appreciation as well as cash flow.

-Older, C-class neighborhoods, which can provide even better cash flow, but little appreciation

Of course, there are also flip opportunities for those able to do that, luxury/vacation rentals, and so forth.

Where did this tenant work? If they are still employed, you could collect on a judgement by garnishing their wages. Of course, if you rent it quickly, you would not have much of a loss, so it would not be worth all of that.

+1

Such events do not happen overnight or by surprise.

Fake license? What is the state going to do?

I'll disagree on FIBI. We went to one in Orange County and the "guru" flatly stated that anyone buying with cash is either lazy or stupid. My wife and I are neither, so just sat there thinking we wasted our time and a bit money coming to the thing. They were pitching expensive "classes" by this "guru." There seemed to be many wanna be investors present.

Just be glad he did not get hurt on your job. People who hire an unlicensed contractor are considered to be their employer for worker's compensation purposes.

I know about being busy, but if you have a standard contract with plenty of protections for you, how long does it take to E-mail it or to give them a paper copy?

I doubt Fannie did any inspection work.