All Forum Posts by: William Coet

I signed a 2-month rental agreement with some engineer contractors from out of U.S.. They are refusing to pay and will not leave the property. The apartment is in very nice condition and they are entirely unjustified in not paying and refusing to leave. They want to live for free for the second half of their stay. I have another short term rental possibility with another group if they leave, and I do not want to lose the income.

Any suggestions on how I can get them to leave?

Thanks!

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Originally posted by @Jay Hinrichs:

Originally posted by @Max T.:

How did u get the 500k?

I think I recall like many aussies they had massive appreciation .. so many in that country back then did a few things.

they either sold and moved equity or they borrowed against their equity and invested in the US.. some did great like the OP others got hammered because they bought C D F class.. in many other markets.

on top of that the AUD was at a historic high against the dollar.

Class F? Yikes! I didn't know that asset class even existed! I saw the Aussies get hammered when they were buying rough sfh in a working class town with one major employer that lays people off on a regular basis.

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Originally posted by @Jennifer Bryant:

I live in Washington, DC. I used to work at a community organization that helped tenants organize to purchase their building and convert them to Limited Equity Housing Cooperatives (DC has the Tenant Opportunity to Purchase Act, TOPA, that gives tenants the first right to purchase when buildings are listed for sale).

Anyway, one day we went to door knock at a building in Brookland to let tenants know their rights. Almost every person that came to the door was a senior citizen or a child. It's a bigger issue than re-skilling people to get better jobs and being adaptable. Senior citizens and children make up a significant portion of the country's rising homelessness population and they are at the whims of the market. As someone else mentioned, it's a larger issue than real estate investing - it's a societal issue and an issue of the nature of capitalism.

Lastly, people lament identity politics but race and class matter in a society where the playing field has never been level. The Color of Law: A Forgotten History of How Our Government Segregated America by Richard Rothstein is a great book about how the housing market is not neutral.

You refer to historical problems, however there are currently racist laws that disciminate and disadvantage people based on the color of their skin. These are laws and policies that are written and exist today. I was raised to believe that all racism is bad, yet there are currently racist laws and policies in the US.

Despite these racist policies, Asian and Indian Asians earn more than any ethnic group in the US. I think this speaks to their cultural desire and ability to improve their lives.

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Originally posted by @Nick Rutkowski:

@John Moorhouse

I see the cons of college being a good reason not to go but dropping out of high school is a bad idea. How many contractors would you hire without a high school diploma?

Who has ever asked a contractor for a diploma?

To the OP: Regardless of the type of degree you get (or do not get), you will have to develop a knowledge base for the subject you are pursuing. You seem like the type of person that will never stop learning and improving, so that should not be a problem.

It also helps to have good "soft skills" and write and speak well. Best of luck to you!

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Asian students are suing Ivy League Universities. They are required to have higher grades than others to get in. This is an example of legalized racism. Despite being discriminated against by universities, Asians and Indian Asians are the highest earning racial groups in the US.

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Prices seem awfully high for boring looking two-family homes that are almost 100 years old. 1.2 million??

Looking for better understanding of who is paying these prices, and why?

Thanks!

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Tyron, There were no photos attached. Would be great to see what you've done.

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Originally posted by @Armando Payano:

Update: After having these listed for 3 months with out an offer, we sold (under contract) both in2 days.

Funny how things turn out. We discounted them as the market shifted on us. Both closing at the end of May.

Net profit: $203,888.

As the market shifted so am I. I am taking the intital investment and profits that total roughly $534,888 and instead of allocating those funds to the development arm of my business I am shifting that to boost my multifamily portfolio. This will put me overweight rentals as a percentage of total working capital. This is mostly due to what I saw during the time the fed was raising interest rates and we were sellers. The market slowed down tremendously add to that where we are in the cycle it seems prudent to make the shift now. We also have a healthy portion of working capital allocated to development with 6 more townhouses that should be complete by the end of June and 4 more in permitting breaking ground in July/August.

Congrats on the sale. Multifamily is priced very high these days, you will most likely have to look at hundreds of deals before finding one to pencil out.

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"I am Lt. Gen. Zachary John commander of US Central intelligent unit here in Syria. After intensified bombing yesterday after here in Syria after President trump announced withdrawal of US military from Syria, I discovered a fortune, which is why I am contacting you. First like I said I am Lt. Gen. Kenneth McKenzie, single, and a father of one daughter. I discovered a huge amount of money yesterday in five trunk boxes and I will like to partner with you as to move this fund to your country for safe keeping since a Red Cross Jet will be living Syria to your country next week. Please get back to me as soon as possible if you can help me keep this fund until my arrival in your country.

I have trusted you after going through your profile via the internet.

Get back to me as soon as possible.

Lt. Gen. Zachary John
US Central intelligent unit"

1 Vote

All Forum Posts by: William Coet

William Coet has started 207 posts and replied 570 times.

Post: Short Term Rental Squatters. Won't Pay, Won't Leave!

Post: Short Term Rental Squatters. Won't Pay, Won't Leave!

Post: Foreign Investor - How I turned $500K into $2M

Post: Congratulations! You Gentrify: Displacing a Community

Post: Dropping out of High School.

Post: Congratulations! You Gentrify: Displacing a Community

Post: 1.2 Million for Brooklyn 2-Family Homes?????

Post: No one builds Small Multi, So I Build My Own!

Post: Developers: How Do You Guys Make So Much Money?

Post: The Email I've Been Waiting For... Finally an Opportunity