All Forum Posts by: James Wise

We manage 400 units and as someone who has been purchasing more and more C (ok C-) class properties we have plenty of evictions. IN total last year, we had exactly 20 evictions that we filed. Of those 20, roughly half went the distance (6 months). Of the other half, we were able to get a lot of them out early through careful, hands-on management.

Of the 20 evictions we filed, all 20 were legacy (inherited) tenants. We filed zero evictions last year on a tenant we placed. None.

Also, most of them were in buildings we had purchased that were distressed so that is part of the game.

Hell ya brother......Gimme so eviction best practices that have worked for you.

0 Votes

Chicago, Illinois

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0 Votes

Philadelphia, Pennsylvania

If you're going to invest in Toledo, it's a good idea to have an attorney draw up an LLC for your rental property business. Tune in to HoltonWiseTV for more free real estate investing tips from experienced real estate professionals like OzRealty Property Management owner Engelo Rumora.

Do Out of State Investors need an LLC to Buy Property in Toledo Ohio? | HoltonWiseTV Highlights

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- @Engelo Rumora & @Dominique Osborn as well as the rest of the OzRealty team are the HoltonWise Property Management partner in the Toledo, Ohio real estate market. Reach out to them for more information on investing in Toledo, Ohio.

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1 Vote

Toledo, Ohio

Quote from @Kasi V.:

Investors Beware: My Costly Experience with Rent to Retire (RTR)

I strongly advise against blindly trusting the data provided by turn-key investment providers, including Rent to Retire (RTR).

I invested in a property in Texas City, TX through RTR, and it has been a financial disaster. Their projected numbers were wildly inaccurate, particularly regarding property taxes. RTR estimated taxes at $6,400, but the actual tax bill came in at $14,300—a staggering 2.23x higher! How can a supposedly professional company with an experienced team make such a massive miscalculation?

This unexpected expense turned what was promised as a cash-positive investment into a cash-negative one—the first in my investing career.

To make matters worse, I lost $21,000 due to the property managers recommended by RTR. While RTR compensated me $10,000, the remaining loss is still significant.

Bottom line: RTR’s data is unreliable. If you're considering investing with them, verify every number line by line to avoid costly surprises.

I imagine you are aware that the taxes will go up when the assessed value goes up yes?

0 Votes

Quote from @Ozzy Sirimsi:

If this you have squatter, you go to the first floor of court, file paper work as "All Occupants"go to case and done with it. Unless some information is missing in this scenario, I don't know why you would even need an attorney.

Why would any attorney say, you evict them as tenants, does not make sense unless there are more into this scenario.

but Diana Khan work in the Baltimore city, she is also an investor, she can help you out but again it this is all it is, I dont think you need a lawyer.

Send a dm if you need her info

Doesn't work this way bro. If this was the case any landlord could just say anybody not paying rent broke in and was never a "tenant". The Police can not act as a judge out there in the streets. These people have utilities in their name and are clearly living there. The eviction process is what will determine if they are actually squatters or not. Based on what OP says, case will be pretty easy and then they will be evicted under the same process anyone else is evicted. This is not complicated. I dunno what everyone is so confused about. This is normal stuff. File the eviction. Get the deadbeats out. Simple.

0 Votes

Baltimore, Maryland

There is nothing better than evicting some deadbeat tenant who's been stealing money from you. However, thanks to Cleveland Mayor Justin Bibb and his radical left wing cronies, a new law was recently passed in Cleveland, Ohio that makes it illegal for out of state landlords to evict their tenant's. That's right, if you are an out of state landlord who has a tenant stealing money from you, you are not legally allowed to evict that tenant unless you move to Cleveland, or hire a local agent in charge. According to the new law, this local agent in charge is someone who becomes legally responsible for your property. Luckily for you, HoltonWiseTV has got you covered. Local Cleveland area resident Zak Burkons has created a new company called CleLocalAgent that provides local agent in charge services for out of state investors in Cleveland, Ohio.

Mayor Justin Bibb makes Evicting Tenants Illegal in Cleveland | HoltonWiseTV Highlights

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Do you want to get started investing in real estate?

Do you want to learn how to make money with rental properties?

Do you need help figuring out your next steps?

Do you wanna make a whole bunch of money investing in Section 8 properties?

Do you wanna learn how to make more money out of state than your friends who only buy turnkey properties?

Do you need a mentor who will teach you?

Do you need a coach who will hold you accountable?

Do you want someone to show you how the business really is without all the get rich quick fluff?

Do you want to skip all that Guru crap and see how the business really works?

___

CLICK HERE TO GET STARTED FOR AS LOW AS $4.99/MO

___

- Do you want 1 on 1 Daily Coaching & Q&A with James Wise?

- Do you want 1 on 1 Weekly Coaching & Q&A with James Wise?

- Do you want Access to Seller Financed Single Family Houses?

- Do you want Access to Seller Financed Multi Family Properties?

- Do you want Access to Seller Financed Apartment Buildings?

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0 Votes

Cleveland, Ohio

Philadelphia has a squatter problem. Philly landlords have enough to deal with when it comes to chasing down deadbeat tenants for their rent check. Now you throw a flooded house on top of it, being a Section 8 real estate investor in Philly is one of the toughest jobs in the world.

Squatters Flooded Landlord's House in Philadelphia | HoltonWiseTV Highlights

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CLICK HERE TO GET STARTED FOR AS LOW AS $4.99/MO

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Do you want to get started investing in real estate?

Do you want to learn how to make money with rental properties?

Do you need help figuring out your next steps?

Do you wanna make a whole bunch of money investing in Section 8 properties?

Do you wanna learn how to make more money out of state than your friends who only buy turnkey properties?

Do you need a mentor who will teach you?

Do you need a coach who will hold you accountable?

Do you want someone to show you how the business really is without all the get rich quick fluff?

Do you want to skip all that Guru crap and see how the business really works?

___

CLICK HERE TO GET STARTED FOR AS LOW AS $4.99/MO

___

- Do you want 1 on 1 Daily Coaching & Q&A with James Wise?

- Do you want 1 on 1 Weekly Coaching & Q&A with James Wise?

- Do you want Access to Seller Financed Single Family Houses?

- Do you want Access to Seller Financed Multi Family Properties?

- Do you want Access to Seller Financed Apartment Buildings?

- Do you want 15% off all HoltonWiseTV Merchandise For Life?

- Do you want Access to 1,000's of VIP Member Analysis videos?

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CLICK HERE TO GET STARTED FOR AS LOW AS $4.99/MO

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0 Votes

Philadelphia, Pennsylvania

Do you love watching deadbeat tenants get evicted? Do you love watching some freeloader get thrown out in the street? Do you love seeing someone get the boot for not paying their landlord the rent? During the 323rd episode of The Tenants From Hell Show, you'll see the HoltonWise eviction crew and the Police evict another deadbeat renter who thought they could get away with stealing money from their landlord. Subscribe to HoltonWiseTV for more live eviction footage. Nobody features more evictions caught on tape than HoltonWiseTV.

Bye Bye Deadbeat (Eviction Caught on Tape) | Tenants From Hell 323

CLICK HERE TO WATCH THE VIDEO

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CLICK HERE TO GET STARTED FOR AS LOW AS $4.99/MO

___

Do you want to get started investing in real estate?

Do you want to learn how to make money with rental properties?

Do you need help figuring out your next steps?

Do you wanna make a whole bunch of money investing in Section 8 properties?

Do you wanna learn how to make more money out of state than your friends who only buy turnkey properties?

Do you need a mentor who will teach you?

Do you need a coach who will hold you accountable?

Do you want someone to show you how the business really is without all the get rich quick fluff?

Do you want to skip all that Guru crap and see how the business really works?

___

CLICK HERE TO GET STARTED FOR AS LOW AS $4.99/MO

___

- Do you want 1 on 1 Daily Coaching & Q&A with James Wise?

- Do you want 1 on 1 Weekly Coaching & Q&A with James Wise?

- Do you want Access to Seller Financed Single Family Houses?

- Do you want Access to Seller Financed Multi Family Properties?

- Do you want Access to Seller Financed Apartment Buildings?

- Do you want 15% off all HoltonWiseTV Merchandise For Life?

- Do you want Access to 1,000's of VIP Member Analysis videos?

___

CLICK HERE TO GET STARTED FOR AS LOW AS $4.99/MO

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0 Votes

Cleveland, Ohio

Quote from @Muhammad Danish:

Hey everyone, I'm Danish Mohamed. I am new to BiggerPockets, and I'm also new to real estate investing in the United States of America. I came to the United States from my old country, Vietnam, around four years ago, and I am blessed to have some extra funds to invest in the BRRRR strategy of real estate in the Seattle and its surrounding markets.

At first, I initially looked at the Cleveland market as well, but the anxiety built up in me because of the fact that I'm out of state, and obviously, Washington and Ohio are not really close. And especially for my first deal in the United States, it made me anxious.

(I would love to hear some professionals give me unbiased perspective between Seattle and Cleveland market)

So I decided, you know what, I will try to stick to the Seattle market where I am staying to see how it goes.

I would love to build a team or network with real estate professionals in the Seattle area, like a real estate agent who knows a lot about investment properties and the nuances of the Seattle market.

Even though I have done my homework for the past two years, I also want to connect with a property manager who specializes in Section 8 rentals because I'm planning to rent it out to Section 8 after I rehab the property.

Additionally, I would love to connect with some hard money lenders in the area or those who have a footprint in Seattle, Washington, that are investor and beginner-friendly.

Although this is my first time doing deals in the US, when I was in Vietnam, I did something quite similar to the BRRRR strategy, but in my home country. And that's also where I get the fund from, liquidating the one in Vietnam :)

Obviously, the market nuances are different, and everything is different, but I would say that I do have some indirect experience, and I just want to get my first deal done in the United States.

Most Importantly, I also want to connect with a general contractor who specializes in rehabbing.

So yeah, I would love to connect with people in those professions. Feel free to reach out to me directly instead of posting if you would love to network.

Thanks, all.

There ain't no such thing as unbiased feedback on BP bro.

1 Vote

Seattle, Washington

Quote from @Don Konipol:

Quote from @Rachel Weiss:

Hi everyone, We are new flippers in desirable towns where remodeled homes sell for 1.8m - 2.5m or more. I am having trouble understanding how paying the realtor 100k in fees on the resale alone (not including what they get paid when they are used on the buy) is acceptable. I searched other threads on BP about this, and the explanations were about a 400k home, for example, that works out to a modest amount per hour. However, this explanation no longer makes sense when it comes to homes that are much more expensive. Why is it not common to negotiate flat fees that are more reasonable? Why is it not enough for a realtor to get paid $10k for their service? I think that's a nice amount of money for their work. There is no other profession where someone makes so much money for doing so little. I find it difficult to wrap my head around, and I'm looking for a better solution.

I understand they service builders/flippers by advising them on what's best for their investment and managing the selling process. Still, even lawyers don't pay such high fees for professional time spent with clients.

it's a FREE MARKET. you can list with a flat fee limited service broker (as I often do) for $500 - $1000. Other times (situation specific) I NEED full service of a TOP PRO and pay the full boat.

Your complaint seems to be that Realtor MAY be "overpaid", according to YOUR personal opinion, which seems to be based on a perceived HOURLY RATE. MY hourly rate works out to a MULTIPLE of X the example you give. WHY am I able to obtain that rate? Because I have a unique ability shared with very few people enabling me to successfully conclude deals most others can not.

Hourly rate is a very poor indicator of whether a given service provider is "worth it". Successful track record is much more important.

Seems like you want FULL SERVICE by the BEST REALTORS, you just don't want to pay for it. You want to keep more of your gross profit and think it would be a good idea for others to accept less so you can have more. Don't disguise your GREED as some kind of social justice outrage!

All this crying in here. Seems like these people want what these Agents provided but don't wanna pay the bill lol. You don't wanna pay the bill, don't take the product.

5 Votes

All Forum Posts by: James Wise

James Wise has started 2838 posts and replied 27428 times.

Post: You're gonna Evict a lot of Crappy Tenants if you Invest in Chicago

Post: Section 8 Inspection Philly

Post: Do Out of State Investors need an LLC to Buy Property in Toledo Ohio?

Post: Rent to Retirement ?

Post: Wrongful Detainer Attorney in Baltimore – Dealing with a Squatter & Bad Legal Advice

Post: Mayor Justin Bibb makes Evicting Tenants Illegal in Cleveland

Post: Squatters Flooded Landlord's House in Philadelphia

Post: Bye Bye Deadbeat (Eviction Caught on Tape)

Post: I'm looking for a team for my Investment Properties in Seattle

Post: High Realtor Fees, Can someone explain?