All Forum Posts by: Carlos Flores

I have been on bulletin boards since the 80s. We used POTS lines and a modem to dial up ONE computer at a time. I can tell you from experience, every point system can be manipulated.

For example, the rep based system mentioned here has been around a long time in numerous forms. People just end up sprinkling pixie dust on their buds. Then as soon as someone outside the klick disagrees...bamb!..negative influence.

I propose NO point system at all. NOTHING - NO number of posts, NO influence, NO awards, NO points, nada!

I suggest this be like real life, except you have no opportunity to judge anyone by how they are dressed or whether they are tall, short, fat, beautiful, ugly, or what ever.

We want people to spend time on this site, we want them to read, we want them to learn. Right?

Well then, force everyone to read posts and determine for themselves who they find credible and trustworthy.

Jon - You can force CL not to display the email link at the top of the ad. When creating the posting, click the Hide radio button.

Just curious...Who paid to fix the garage door they broke, you or the tenant?

Also, are you increasing rent this renewal? 300/12=25 mo. Could be a wash anyway and they'd be happy.

Do you think it's just a spurt of accidental landlords desperate to stop the hemorrhaging or an ongoing concern?

I'm getting images of flop houses from the movie Taxi Driver. Well you're in Florida so maybe not.

Let me throw some questions out there for you (to start) to get you thinking....

- Section 8, section 8 with rehabilitation money, or just straight up rentals?
- All bills paid?
- Lawn care?
- Co-ed?
- How would you handle pregnancies? You can't (shouldn't) have children in these situations.
- # of people allowed per room?
- College town/area? Some areas are restricted to no more than 1 unrelated person in house.
- House rules in place?
- Common area privileges included in house rules?
- Parking rules?
- Bedrooms secured?
- Where did you get lease? Does it say you can assign any room to any tenant at any time?
- What kinds of neighborhood is this in?
- What areas would you target and why?
- Are you renting to transients?
- Local ordinance issues?

I can see old hotels or maybe even motels, but SFR units with 4 or 5 or more bedrooms could become a nightmare real quick.

Everyone needs to read Josh's post a few up from this one. This lady appears to be defrauding the BiggerPockets community.

Tershant Rhodes changed her pic, locked her profile, and slithered away without so much as an apology. Guess she read Josh's post.

Here is Ms Rhodes as her alter ego, Rich Lady Business Partner, spouting off about ethics http://sta.rtup.biz/profiles/blogs/what-are-your-ethics-saying. Wish she had displayed some ethics here.

Hey Stinson, didn't you promise me your next wholesale deal???

No, seriously, congratulations! I was hoping to see you dancing in the clip. Another let down. Oh well....

We pretty much paid retail for our primary in 2002 but put a wad down to get the payments where we wanted them. Excellent schools, centrally located bedroom community, top 3% household incomes, etc, keep the values stable in this little pocket of suburbia. With all that said, we'd be happy to sell if anyone wants to pay retail. :D

There were some crazy loan programs out there in the early to mid-2000's though. We got into on our first investment property in 2006 for slightly over $1000. That was the bottom line out of pocket number on the hud-1 with an 80/20 loan.

Lets focus on the 70 year old tired landlord for a minute. You need to really determine what is more important to him - more up front cash (down) or a greater income stream (monthly payments).

Did he tell you how much more of a down he wants? Would another $5k do it, 7.5, 8, 10k, or is he wanting 20% or half down?

There's an old saying about naming your price or your terms but not both.

Can you afford to up the ante? I would be questioning your reserves if not. Assuming you can increase the down stroke, then offer him a lower purchase price.

@ Tershant - Forgive me if this has been asked/answered as I only scanned the posts. I can see that you might be frustrated. If you wouldn't mind, please answer these questions for us. BTW, if you don't feel comfortable answering the questions, at least tell us what actions you plan to take.

Have you read any beginner books? What action did you take as a result? What was the outcome?

Have you reached out to active investors at your local REIA meetings? Did you call/meet with them outside the meetings? What happened as a result?

Have you attempted to contact people on this board that are in your local area? If so, how / what happened (no names please)?