All Forum Posts by: Greg H.
Greg H. has started 51 posts and replied 4177 times.
Post: Auction Purchase...Evil Tenants= HELP!!
- Broker/Flipper
- Austin, TX
- Posts 4,356
- Votes 4,255
This article addresses the process for Virginia:
https://grddlaw.com/purchasing...
Have they provided evidence of paying March rent or did they pay you?
Post: Housing Authority not paying their portion of rent on time.
- Broker/Flipper
- Austin, TX
- Posts 4,356
- Votes 4,255
Quote from @Katrina Brewer:
Whats wrong with todays world. Is the fact that there are many that do not have any compassion. IF everyone stay at home and sit on your monies these people will stop being rude and nasty. Why is everyone so money hungry? Put yourseives in someone elese's shoes for Gods sake. How many of you have up to date properties? The law also has tenants rights, and if anyone has read their contracts, you very well know the guidelines and procedures so if you charge the tenant or give them a notice, they can countersue you, so how about that! It would be worse if the tenant owed you full rent and unable to it, so try looking for a brighter solution. You are gauranteed payment from housing no matter what. Also, the tenant is allowed to vacate the premises and sue you for harrassment. People need to realize that what you put out you get back! There was motive when you accepted the voucher in the first place not to mention the fact that just because someone receives section 8 does not make them lower or less smart..when you have ill motive **** happens!
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So if a landlord expects the rent to be paid in accordance with the agreement that the tenant signed they are "money hungry"? How so?
Post: How to handle a brokers commission with a seller accepting RE as a partial trade?
- Broker/Flipper
- Austin, TX
- Posts 4,356
- Votes 4,255
I would expect the commission to be based on the value of the transaction which is $250,000 cash plus $1 million in property for a total of $1.25 million
Post: Buyer reimbursement for expenses
- Broker/Flipper
- Austin, TX
- Posts 4,356
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What were the circumstances of the buyer pulling out? How much was their earnest money? A seller can sue the buyer to perform. However that will cost you thousands if not more and the likelihood of success is low
Post: Strategies for Legally Denying "Fake ESA's"
- Broker/Flipper
- Austin, TX
- Posts 4,356
- Votes 4,255
Quote from @Greg Scott:
Easy
Read this carefully: https://www.hud.gov/sites/dfil...
We built a simple process on these guidelines. Unless a resident that provides evidence that meets every criteria from HUD, we simply hand them a letter that the evidence they provided does not meet the requirements for an ESA. It kills 90% of ESA requests.
Our estimate is that over half of those that meet all criteria are legit ESA requests.
For those bleeding hearts out there, here is my proof of the ESA scams. I paid for this so enjoy. Go to this web site https://usaservicedogs.org/loo... and enter the number "48390909".
Tell me what you see!
Post: Hud homes
- Broker/Flipper
- Austin, TX
- Posts 4,356
- Votes 4,255
Quote from @Sam M.:
I know this thread is OLD but had followup questions. Looking to bid on a HUD home close to where we want to live. The home is in bad bad shape. Estimate to renovate and fix is over $100k. So here are my options:
1. Renovate - probably 6-9 months and then move in.
2. Teardown - probably 1-1.5 years and then move in.
In either case, the place will be vacant until repairs or reconstruction is done. Will this still be considered an owner occupied house in either situation? My name will be on the deed etc.
Post: Never thought I’d say this - But I will be Renting for a Year!
- Broker/Flipper
- Austin, TX
- Posts 4,356
- Votes 4,255
Quote from @Drew Sygit:
@Andre O. your approach shows you are not a true RE Investor, just a TREND investor.
You're probably only looking at properties on the MLS/Zillow!
There are deals everywhere worth buying NOW, you just need a network to find them.
We working on a package of 9 SFR's that the motivated owner is willing to provide seller financing on.
Why would you say that? Seems that @Andre O. has a solid plan. He is a cash buyer earning over 4% on his cash. Are we sure prices will be up over 4% in the next year? Current prices can surely be pressured to go lower. There are some deals out there but they certainly are not everywhere. By his post it appears he is buying a place to live in as well which has much different criteria than just a "deal". Am I still buying? Of course but it is what I do for a living. However, I am much much more selective then I have been for the last decade. Could I be wrong about the market? Absolutely. However my 30 + years for doing this is telling me to proceed with caution
Post: Tenant wants to pay after eviction notice given
- Broker/Flipper
- Austin, TX
- Posts 4,356
- Votes 4,255
Quote from @Harita Konjeti:
Tenant was given 3 day notices, 3 times previously in Dec, Jan and Feb. I also sent a final notice email before filing the eviction. Today tenant received eviction notice from police and now wants to pay the rent. What should I do? The court date is set after 3 weeks.
This is a Texas based answer. I would first call the JP court and ask the courts policy on accepting rent. Technically, the lease was terminated after the 3 day notice expired. However JP judges are elected officials not bound by precedent and many will allow back rent to be paid even on the day of the proceeding. If that is the case take the back rent and be prepared to serve the 3 day notice the day after the rent is next due
Post: Tenant served with Notice to Vacate - Now his rent check has bounced...
- Broker/Flipper
- Austin, TX
- Posts 4,356
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So you sent a notice of termination to end a month to month lease at the end of March per the 30 days notice required to terminate the lease. No this is not satisfactory to begin the eviction process as you gave a specific date of March 31st
Send the 3 day required Notice to Vacate and begin to begin the eviction process tomorrow. The tenant already has received a free month. Do not wait until the end of March and hope he leaves.
Travis county or Williamson assuming the property is in Austin?
Post: FlipSystem by Antoine Martel
- Broker/Flipper
- Austin, TX
- Posts 4,356
- Votes 4,255
Quote from @Neil Patel:
Greg, from my understanding, they're charging a hefty price in order to give you all these facilities.
No doubt they are. I would still ask what they need you for as they are providing every piece of the puzzle?
Also, who pays if the flip loses money?