All Forum Posts by: Ralph Pena

I personally see great opportunity in purchasing with the tenants in place. Because obviously the squatters and their lack of payment is causing the great motivation for the seller which your trying to capitalize on. 

Best to get it even lower once u see the property saying that it's not what the pictures showed and it may be even more costly than you expected to fix up and get them out.

Once closed start your eviction immediately!! make sure you have insurance on the place. Our last purchased we closed started eviction and tenant faked falling down the steps. we didn't get the insurance company in prior to closing. 

But now is the time to educate yourself on the eviction laws in your county. Even go sit in court tomorrow ( i did this on monday, great education watching other ppls problems first hand. And seeing the attorneys who kick ***)  Get yourself familiar with everything and go take that property down. Don't be scared, fortunes are made in solving other peoples problem. Just my two cents. I hope this helps...  Oh yeah, if you can't afford to wait for the eviction financially you may want to not take this project on. But if so, it may be beneficial to you.

COOL MAN!! Are you going to hit the range and pop a few rounds? Or see if it can be appraised and sold or to a gun museum for display??

now I'm sure that's a paid for service. .. but how much,  and who pays for it. 

no. the person i bought the house from was a realtor. and she took care of it after the deal closed bcuz she sold it saying it was already zoned duplex.

@Luis Rosario, i went down the same exact path with my duplex. Sat in L and I court to change the zoning back to R1, pay the fees and not get my homestead tax break....  But it's worth it when your units cover your mortgage, trash removal, water and still put money in your pocket every month.

@Althea P., welcome aboard. Yeah a lot of ppl have been BP members for years and also have years of experience to share right here.... FOR FREE! But the best thing I can say is pick a path and stick to it. Bcuz it won't come overnight.

What is your involvement in Real Estate now? Or are you just in the education stages?

you'll have to consult with a local landlord tenant attorney. Someone who deals with your situation everyday. Because it sounds like you have the right. But with no documentation you may loose. You might be better in just letting it go instead of days in court and lawyer fees. If the repairs cost more than the lawyer and the time spent in court then it may be worth the fight. just my opinion.

check the resources. there may be some in there.

@Brooks Rembert, how do you report someones credit for on time payments.

Also how do you report someones who has lost  a judgement in court? Really been pondering this question for a while.

definitely look into the local laws. If it's a purchase of your own. It may give you a better purchase price. Motivated sellers can't sell a house no one is allowed into.