All Forum Posts by: Gene Hacker

History shows that the event will be not be easy. Most episodes of hyperinflation or currency collapse were accompanied by price fixing by the government, this includes rents. So the big wild card is what policies are forced upon the landlord. If rents are locked and property taxes are increased...it could get uncomfortable very fast. But similar risks exist for all investment classes.

The good new is that if you come out the other side intact you would be pretty well off. Inflation and hyperinflation is a transfer of wealth from the savors to the debtors (govt are the greatest debtors). Some of the wealthiest people in world history were created during the Wiemar hyper-inflationary period. Real estate is one of the best ways to hold real assets with debt. The debt would be wiped away with a period of hyperinflation.

Personally I have buying tangible investments including cash-flow rental properties with long term fixed financing. They need to be good investments today...and an excellent hedge if there is a collapse. I have also invested in tools and equipment. I bought a lot of equipment in 2007/8. I was getting dump trailers/ backhoes/ etc for pennies on the dollar at auction. These are already worth 100% more than what I paid.

We have been using CRM Express free edition for the past few months. So far so good.

This thread reminds me of the book "Black Swan". Everyday the status quo holds firm, folks are more assured that nothing will change.

But the reality is...the dollar is screwed. The growth we are experiencing right now is not organic...it was created with massive amounts of cheap money and debt. This cannot go on forever. Politically (and mathematically) there is no solution to our debt issue. History shows the possible outcomes...hyperinflation is one of the most likely.

It could take years, possibly even a decade...but I would rather be a few years early rather than one day late.

Thanks Dale. That makes sense.

I received a copy with notice. I will call the issuing bank and as soon as there is funds I am good to go.

When I was selling...I had a different strategy for each. My main influence was the supply/demand equation. If there were similar listings then I would be very competitive. If there wasn't much for sale...I would shoot for the stars.

I haven't sold a house since 2006...and it was a different market then.

I guess I should expand...I usually do not take checks. This was a tenant that was moving out at the end of month, the rent was late and that is what they paid with (the lease said money orders or certified checks only). Needless to say I wasn't surprised when it bounced.

I decided it was better to get them out, and let them go rather than risk having a bigger issue if they decided to go the eviction route.

We are in California and the check was for $700.00

Anyhow, I am just looking for recommendations for a collection service.

Very true Ibrahim.

This experience reinforced my notion to treat everyone with respect and honesty. I was completely honest and transparent with the inspector and he worked with me. I was always totally respectful and empathetic to the previous owners daughter.

This has always been my philosophy. Its not just the right thing to do but its also the best business choice.

Anyone service that is recommended?

UPDATE:
The title company clearly stated in a letter that I in fact own the lot and they paid the overdue property taxes that were not paid during escrow.

I posted on the property that I would be putting DMV liens on the trailers, and hauling off everything in 72 hours. The owners daughter called crying that her dad has passed and that she just wanted a few days to get some stuff off the lot.

Over the past several weeks, she has moved off all of the trailers and most of her stuff. She is saving what looks to be total trash, furniture that has sat out in the rain for more than a year, scrap metal...crazy. But everything she takes is less loads to the dump for me. 90% is gone and the rest should be gone this week. I think a big part of the solution is that I have helped her by letting her use my large enclosed trailer. I drop it at the site in the morning, and then move it to her new place in the evening. It usually takes her a day to unload, then we repeat. Her new place is only a few blocks away so its WAY better than the 25 minutes each way to the dump.

Overall its all going much easier than I could have imagined...hopefully there are no new surprises down the road.

I got my brokers licence in California mainly to have more control of my own transactions.

The education was worth the effort, it was mostly real estate law which every investor should study anyhow.

I love having full access to the MLS and it has paid for itself many times over, saving me the fees and commission from representing myself.

I just wish I made the move sooner.