All Forum Posts by: Jose Garcia

good evening everyone! 

                 I have a question which I was asked and since I'm not a lawyer or have experience this maybe someone on BP has.

                  Tenant been in the property since 2009. She signed a one yr lease at the sum of 1300 after that lease has expired the tenant became a Sec 8 tenant  (I believe during the year lease) then went month to month. Now the trickey part is according to Sec 8, the tenant was allowed 1000.00 for property tenant paid 600 and sec 8 paid the 400. The issue is the property manager was still charging 1300 which it's more than sec 8 approved. Tenant signed a contract with the property manager stating she would pay 1300 now in my opinion that's illegal on both parties. Fast fwd 5 yrs later tenant has moved out. Tenant has late fees dating for over a year and now is pursuing the deposit.  Tenant basically told the owner if they dont refund the deposit they would report to sec 8 that they were paying 1300 vice the 1000 like sec 8 approved.  I believe it's a felony but I'm not a lawyer

@Bryce Kemmerer I suggest you start in va beach. Create a system and get the experience while you can (make $$$ at the same time) so when you make that transition to FL you already have a system you can follow. Best of luck to you

Greetings BP

I'm a little curious on what to do since there's so many ways in REI. IMO this is one way that have crossed my mind. I have acquired a property with a 3 yr lease option with ZERO down and Deed signed over to me, now what I would like to do is use that property as collateral to acquire another property within the 3 yr and continue that process. What do you think? Thank you for your inputs

@Jay Sebastian congratulations!!!! Awesome work in putting it all together.

welcome to BP Noel! There's a lot of valuable information as well as some great people on here. Research the Podcast section on BP. What part of VA you moving to?

Welcome @Robert Slatkin ! I enjoyed your post. BP has a lot of valuable information and GREAT people from all over! I suggest you search the Podcast and jump right in communicating with others. You just never know what type of relationship you may begin....BTW I have some left over Girl Scouts cookies at half price are you interested?

Good luck on your Journey!!!!!!

Thank you all for your insights and I greatly appreciate the feedback.

The MH balance is 31k IMO too high plus the lot rent is 350, the park once again IMO not appealing so with after taking everything in consideration I definitely would pass.

Thank you all!!!!!

BP,

This deal was just thrown on my lap with a mobile home. They want me to assume the loan which its 456 a month then the Lot rent is 350. I've never dealt with a mobile home and not too sure about any horror stories. I see some people purchase the mobile homes for less than 10k. What do I need to keep a look out for? Or for the experienced investors in the mobile home can you shine some light before I make any decisions? Thank you any advice is greatly appreciated

DONE!!!!!!!!

@Phillip Bingham

Welcome to BP! If you have any questions regarding REI just ask away. There's a lot of knowledge within this forum!You're definitely on the right track. My son will be attending VT next year. Feel free to contact me I will be more than happy to help.