All Forum Posts by: Marcus Brown

I believe my previous landlord/property manager made an error and I want to know what options I have. I'll be keeping it vague here until it's resolved.

I'm trying to get a copy of my lease agreement along with other documents from when I lived in an apartment building several years ago. The building is currently managed by a different company than when I was living there. 

I contacted the company that ran it when I was there, they said they legally cannot have them on file and to check with the current company. Current company said they don't have it, contact the original company.

I no longer live in the same state, what are my options?

Thanks. 

I recently found a guru offering a course about this strategy and while I will not be giving him any cash, the strategy has intrigued me as I've never heard of it.

He says to find properties that are on the market or under contract and run them through the county court to see if there are any judgments on them. Then contact the creditor of the judgement, negotiate a discounted price for it, and get it under a purchase option contact.

When the property closes, send your option contract to the title company, who takes the full payment for the judgement from the sale of the property and pays the creditor the price you negotiated, and you take the balance.

Assuming this is possible, what else needs to be taken into account?

Welcome. I recommend Cashflow Quadrant by Robert Kiyosaki.

Why not sell or lease option to the tenant and carry the note?

Thanks!

I'm considering marketing to homeowners who own their homes free and clear but haven't been able to figure out how to find this list. Any help is appreciated.

They were planning to list it in the spring as they've outgrown their starter home. Several weeks ago the plumbing backed up and yesterday the plumber came back to run a camera in the lines to make sure everything is clear. He discovered that the pipes leading to the city lines beneath their back yard are bellied and they are facing roughly $6200 in repairs, not including the cost to repair the deck, which will be torn out, fencing, and replacing the landscaping. They are thinking about discounting the selling price by the cost to fix the line, and letting the new buyers design the back yard however they want. I was thinking they should apply for a HELOC and have it fixed, assuming HELOCs can be used for that. The house was built in 1976 and they bought it in the summer of 2011. What's the best thing they can do in this situation?

Thanks,

Marcus

Why don't lenders go below that price? And why would they refi on that but not lend for an initial purchase?

Do it! As a total newbie it was a huge help last week when @Scott Dixon put together a local BP meet up here, especially since this area has no REIA. If I was still living in AZ I'd try to make it too!