All Forum Posts by: Kevin Yeats

Keep shopping for a better offer.

Sounds questionable. If these properties were that good of a bargain, why can't you find them yourself (or any other investor). You could call the local banks directly and ask for their REO department. It is possible that this wholesaler does such a large volume that the bank gives a discount .... but I doubt it.

Save your money and look elsewhere.  Save your frustration too.

I learn something from you experienced guys everyday (almost).

Will,

I am so happy that this ended up on the plus side although clearly no nearly as profitable as it should have been (except for the lawyers).

Having gone through this ordeal, I have to wonder if the seller was 'in on it.'  That she sold the property at an attractive price knowing that this "ex" would cause trouble and selling was the easiest way for her to extract herself from the issues.

Looking back, have you thought of specific (legal) action that you should have taken at various stages?  I would have sent communications to the judges in this case to forewarn each that this was a complicated, tangled web ... not just a 15 minute case that the judge can read and decide from the bench.  I'm not a lawyer nor do I know if such communication, even if worded NOT to convey any details of the case is allowed.  Clearly at least one of the judges dropped to ball.

Kevin

Nick, in regards  to this prospective  tenant, move on, as many others have stated.

To learn more about landlording and tenant screening, read Eric Drenckhahn's (a member here on BP) blog ... No Nonsense Landlord.  An overriding theme in his blog is Avoid Drama.

I agree with Mindy.

Offer an early termination and additionally, offer to pay half the security deposit on the day that she vacates *** IF *** the property is clean and undamaged.

Given that today is the 24th, it will be tough to get her out before the start of July.

After this issue is all settled, review your procedures to see how Ms Psycho made it passed your screening.  What do YOU need to change to see that this does not happen again.

Thick skin.

Sometimes you need to develop a very thick skin.

Let the crazy person rant.  When he/she stop, just ask "Are you done?"  Then offer to add their name and address to a non contact list (even though there are no federal, state or local prohibitions against mailing something to anyone (at least to my knowledge)).

I read an email from Tom Ziglar (Zig’s son) where Tom recalled two of his dad’s quotes.

“You don’t build a business, you build people, and people build the business.” Zig Ziglar

In my years working with businesses of all sizes, I have heard the following comment far too many times. “We can’t afford to train our people. They will just leave.”

When I would hear that response I would just smile and give them another Zig quote:

“There is only one thing worse than training your people and losing them, and that’s not training them and keeping them!” Zig Ziglar

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Think about these quotes for a few minutes.

I’ve read the thoughts of others here on BP who state that real estate is a relationship business. You, the real estate owner, whether a landlord or flipper have to relate to quite an array of people - finance partners (lenders or equity partners), property managers, workers (on your payroll or contract), tenants, etc, etc.

Wouldn’t it be great if you had a solid relationship with the people that help your business grow and prosper that you knew the outcome of every new interaction with them? Every time you called your banker with a loan request he/she said “I’ll have the paperwork ready on Friday afternoon.” Or when you called one of your contractors with a new assignment, he/she said “I’m tied up this week but I will work that job is next week.”

These people would respond like that IF you have a good relationship with them - that you have provided them with opportunities and your lived up to your end of the deal.

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I heard another quote from a person similar to Zig Ziglar.

“If you can’t change the people then you must change the people.” - Bryan Dodge

You could search for a "stated income" lender (ie, one that does not require tax returns).  The ones I work with would not offer a loan on a personal residence.

Congrats Brandon on your "smallest addition."

I bet her first words will be "Trust Fund"