All Forum Posts by: Mark Kemp

thanks Phillip 

Phillip, where in the restaurant will you be. I went last month but couldn't find you. Do you have a sign on the table?

Mark

Most States want you to use an attorney, and don't like you doing your own evictions. Courts will sabotage any attempts you take to do your own Evictions, don't ask me how I know that.

I understand the process completely, and don't need an attorney, but the courts won't let me get it done on my own, so even I have to hire an attorney. I do suggest you learn the process, so your attorney can't lie to you and have it take twice as long to get an eviction done. Understand and learn, so you can supervise what is being done and when, so your eviction can happen quickly. 

Also find an attorney who works on a set price, as if you do it hourly, he will turn into twice the cost - don't ask me how I know this.

Mark

Well said Jason. Some will sell at the beginning, and that will convince the owners it was a good decision. But they aren't looking at where the economy is really at. They wouldn't be building anything over $100/ft if they saw what is coming. I am a realist and I have involved in Real Estate back in the 70's. I've seen too many bubbles, too many crashes. A crash happened in 1979 (anyone remember 18-21% interest), 1994, 2001 & 2008. Notice it's every 7 years, people never learn. Next one is 2015, yep, that's next year. 

If you are actively chasing deals, I wouldn't try to be your own landlord, I would get someone who can manage it for you, as your time is your greatest asset. You can't deal with tenants and repairs, etc, and be chasing more deals.

I've tried that before, just handling 8 rentals, and it was just too much, too many little time consuming details.

If you are not chasing deals, and only want to do 1 deal a year, you can collect your own rents and be the landlord.

Mark

I have a 2 bdrm and 2.5 bath Townhome with a 2 car garage and it's an end unit. Has many extras. Already has tenant. Renter pays $800 for 12 more months. Will sell for $141,000 or best offer. Value is $155K. No fixup required. Please PM for more info and comps.

Mark Kemp
385-204-1001