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All Forum Posts by: Jim K.

Jim K. has started 77 posts and replied 5316 times.

Post: Evicting My First Tenant

Jim K.#3 Investor Mindset ContributorPosted
  • Handyman
  • Pittsburgh, PA
  • Posts 5,465
  • Votes 13,779

Hi, @Jamaal Smith

I've been in your shoes. As I'm sure you understand already, the ra-ra gurus of real estate try to say as little about eviction as possible. It's one of the absolute worst parts of rental property investing of any variety.

Your first step is going to be to research Texas law, and then narrow it down to the particular county and municipality this property is in. There's a great book called Every Landlord's Legal Guide published by NOLO that will give you some great basic advice on how the process works, you may want to buy that. But while evictions have many similarities throughout the country, scrupulously following local law and procedure is the key to getting through the process with as little pain as possible.

You will probably want to also find and consult a local real estate attorney who does evictions on the process, especially this first time, especially if you suspect you're going to be doing this multiple times in the future.

I can't answer your first specific question better than that. Find descriptions of the process, and study the process. I'm even hesitant to give you the web address I'm about to give you, because if you haven't looked for it and found it already before coming to the Bigger Pockets forums to ask strangers for help, you're way, way behind the eight ball. But here's where to start your research in Dallas County: General Procedures for Filing an Eviction for Non-Payment of Rent


I also can't answer your second question successfully from my perspective. For me, operating in Pittsburgh and Allegheny County, where Pittsburgh is located, it's always better not to accept any sort of payments once eviction proceedings have started. It always tends to complicate the case. What you always want, in any eviction before any district magisterial judge here in my area, is a clear open-and-shut case where you are obviously high on the Mountain of Right, while the tenant is deep in the Valley of Wrong.

But I don't operate out of Dallas and I really can't tell you with any real authority what's best there. Good luck, Jamaal.

Post: What mentorship changed your life?

Jim K.#3 Investor Mindset ContributorPosted
  • Handyman
  • Pittsburgh, PA
  • Posts 5,465
  • Votes 13,779
Quote from @Justin Brickman:

I agree with many of the comments here. Be careful not to get scammed when looking for a mentor. Many people can make it look like they're doing much better than they are.


 Why, Justin, what a suspicious thing to say! It can't possibly be true, can it?

(I would post Fat Joe's and Li'l Wayne's video of the song "Make It Rain" here if the BP comment moderating staff would let me.)

Post: Historical lending question

Jim K.#3 Investor Mindset ContributorPosted
  • Handyman
  • Pittsburgh, PA
  • Posts 5,465
  • Votes 13,779

@Andrew Postell

@Scott Mac

My question is very narrow in scope. Thanks for touching on it, Scott, but you didn't come near it, Andrew. Maybe you thought I was asking about the creation of FDIC insurance and portfolio loans, which would be a more intelligent banking question, I'm sure. I'm nowhere near as sophisticated.

No...what I want to know is how and when the duplex, triplex, and quadplex ended up eligible for FHA residential loans, while anything larger is not, even if you live in it. Who decided this, and when? I think a trend is developing in the national economy around quadplexes and some triplexes that some investors were able to buy with FHA loans, small down payments, and lower interest rates compared to those available today. One is certainly developing in Pittsburgh.

Post: Historical lending question

Jim K.#3 Investor Mindset ContributorPosted
  • Handyman
  • Pittsburgh, PA
  • Posts 5,465
  • Votes 13,779

@Chris Seveney

Thanks. Do you have any general idea when it happened, or during what time period?

Post: Historical lending question

Jim K.#3 Investor Mindset ContributorPosted
  • Handyman
  • Pittsburgh, PA
  • Posts 5,465
  • Votes 13,779

I'm not even sure how to looking it up, so I'll ask the community. When did the shape of the current lending status of small multifamily begin to exist, that is, what year and in what legislation did the federal government decide that for lending purposes, a quadplex was the largest multifamily building that could be considered to be a residential property, while a fiveplex or larger apartment building was always to be considered a commercial property, even if the buyer lived in it?

Post: What mentorship changed your life?

Jim K.#3 Investor Mindset ContributorPosted
  • Handyman
  • Pittsburgh, PA
  • Posts 5,465
  • Votes 13,779
Quote from @Nathan Harden:

What up BP?!

I have been investing for about a year now and I am starting to experience some growing pains. I have been going strong with Youtube university, but I think I am ready for a little more hands on/over the shoulder learning. So, I have been looking into mentorship type programs and it feels like wherever I look there is some new "guru" charging $5k+ for their course because they have done a few transactions. In other words, I just do not want to drop a decent amount of coin and be underwhelmed.

There are so many programs, courses and mentors out there right now it is almost overwhelming. 

So my question is for the people who have taken courses or learned from mentors, personally. How and why did you choose the course/program that you did and how did you justify that it was a better fit for you than the hundreds of others that are out there?

Yeah, I'm just along for the ride here. But just one point about the words you're using: you pay for a coach, a mentor mentors you for free. I've learned more than my fair share from mentors. The most I ever paid for coaching was $150 for a general three-day seminar, where I learned that if you beg on the phone just right, credit card companies will just raise the hell out of your card's spending limit.

Post: Thank God I had an LLC!! - Said no one ever!?

Jim K.#3 Investor Mindset ContributorPosted
  • Handyman
  • Pittsburgh, PA
  • Posts 5,465
  • Votes 13,779

@James Wise

No, just a stain on the sublime artistry and good name of autotuned gangster hip-hop.

Post: Buying first investment property

Jim K.#3 Investor Mindset ContributorPosted
  • Handyman
  • Pittsburgh, PA
  • Posts 5,465
  • Votes 13,779

@Devin Woods

Curses! Foiled again!

Post: Thank God I had an LLC!! - Said no one ever!?

Jim K.#3 Investor Mindset ContributorPosted
  • Handyman
  • Pittsburgh, PA
  • Posts 5,465
  • Votes 13,779
Quote from @James Hamling:
Quote from @Allan C.:

@Marcus Auerbach I won’t refute the importance of insurance as a line of defense, but my read on the WY examples are charging order protection.

Most of the LLC arguments center around protecting assets outside of the LLC from liabilities inside the LLC. However, an equally important aspect of LLCs is protecting the assets inside a LLC from the liabilities outside of the LLC. I'll draw an analogy to FDIC insurance. Why would you keep deposits in excess of FDIC cap within a single bank if you can have all of your money insured splitting it within multiple banks.

Only a few states have charging order protection for single member LLCs, so that’s where you’ll need to get creative.


Marus's whole point of this post was "can anyone lend 1 real-world example where the LLC / split-LLC's protected anything". And so far nobody has given 1, not a 1, just theories, we were try to break past theory and find facts.

What you saying here Allen is the problem at heart of what discussion is, because people think just having LLC gives protection. If have 10 LLC's with let's say $250k in liquidated asset's potential for each and get sued for, and loose, on $2.5m the point is in many cases a decent attorney can go around and "pierce the vail" and attach from each, if all one has is single member LLC's. Or comingles fund's. Or or or.

There is this false notion out there that attorneys are highly restricted in suites, and I assure that is not the case, the reality is very opposite, attorneys have all kinds of options in suites, it's why you see commercials all the time for joining this or that class action. It's why McDonalds get's sued over hot coffee and hot McNuggets'. 

Again, the point was not to keep arguing on theory but for actual historical fact to be used, does anyone know of a LLC entity "saving" anyone. So far, only instances of insurance "saving" persons.

Maybe Marcus should do an alternate of does anyone know where multiple LLC's did NOT help, were "pierced" and the person was "burned at the stake"? I lent 2 examples I know of this. And I know of more.


Exactly. I found it highly telling that this thread was supposed to be about reality and ended up knee deep in hypotheticals.

I mean, if Marcus had asked, for instance:

1. Has any landlord here ever saved a tenant's life?

2. Has any landlord here ever had to evict a morbidly obese bisexual drug addict, her fetishist feeder boyfriend, and all their sex toys and vintage fat-fetish porn VHS video collection?

3. Has any landlord here ever had to explain to a tenant that the "German Shepherd" he adopted at the shelter was actually a pit bull terrier?

4. Has any landlord here ever received an inquiry about an open apartment on FB marketplace by an applicant whose profile included a rap video of himself self-produced and filmed while he was actually incarcerated in the local county jail?

Well, I'm pretty sure this page is full of landlords who have actually seen all four of these things happen, and wouldn't have to veer into hypotheticals to talk about the possibilities such questions raised.

Post: Thank God I had an LLC!! - Said no one ever!?

Jim K.#3 Investor Mindset ContributorPosted
  • Handyman
  • Pittsburgh, PA
  • Posts 5,465
  • Votes 13,779

@Marcus Auerbach

I agree. We're finally getting down to hard brass tacks in a real-world discussion that, once again, you'll only ever find in the Bigger Pockets forums in the entire universe of real estate training and educational offerings. Thanks for starting this thread.