All Forum Posts by: Robert Leonard

@Grace Mason welcome to BP! I'm right down the road from you here in Lafayette.  I recommend "The RING" (Real Estate Investors' Networking Group) to everyone in the Baton Rouge Area.  We meet every 2nd Tuesday of the month, but this month its on the 3rd Tuesday.  You can find the group on meetup.com. I'm a member there and it's a very active group that I think you will meet many active investors in the BR market.

You can learn a lot here on BP.  Give me a call or email me anytime I might be able to help you.  See you around BP and hopefully we'll meet soon!

@John Blackman that's a pretty impressive story! Congratulations!

@Elizabeth Colegrove I don't think its a violation of SCRA to deny someone with short term orders if you require a one year lease.  When I went to schools that were less than year, I asked if there was an exception or didn't inquire to those properties.  I never thought it was violation of SCRA to deny me when they required a one year lease.

In the case of denying a renewal of a lease because a service members orders would end, that would create a hardship that is unrealistic for the service member to overcome.  If they've rented from you for a year and only have 4 months left on orders, making them move for 4 months would create an undue hardship.  Most places require at least a 6 month lease and month to month rentals usually cost more.  I'm pretty sure it's seen differently when you are starting a new lease as opposed to renewing an existing lease. 

Your best bet is to get clarification from your JAG.

@Elizabeth Colegrove I don't quite understand your question, but I am military retired and a landlord.  Can you rephrase your question?

Well @JC Gauthier thanks to BP, you can't go back and erase what you wrote. I'm not accusing you or anyone else you're trying to make yourself akin to of anything.  You wrote get "10k or more and hope that they default." If you or anyone else thinks that's how you help anyone achieve the American dream, it's a good thing you aren't TRYING to steal from them.  I think you care more about trying to build an empire than helping anyone else achieve a dream.

@Account Closed the best I can do is to give you an actual example, not an unfounded accusation.  Yesterday, here on BP, an investor inquired about a bad investment they made where they owed 185k on a property that was worth 162k or something close to that.  You can see the entire discussion at this thread:

http://www.biggerpockets.com/forums/52/topics/135640-what-should-i-do-with-this-negative-cash-flow-rental?page=1

I gave a detailed case against the way I see it used on page two of that discussion.  I think its wrong to set people up for failure or to make an agreement that you hope is a failure for the other party for your own financial gain.  It's just that simple.

@Account Closed you can team up to get them over the hump!  That sounds like a setup for success!

DISCLOSURE:  I have no affiliation with any of the websites/companies I mentioned above.

To answer @Albert Bui 's question.  Yes I am referring to what you need to do in terms of setting up business credit and doing your investing like a business.  The 4 loan limit and other conventional loan limitations are the reasons why you would want to start out as I suggested as opposed to dealing with those limitations. 

@Rob Nichols I'm not an HML, but if a person can't come up with 15-20k and they are trying to buy/hold a nearly 200k property, they are getting ahead of themselves. He needs to wholesale the property until he is in a position to have some cash reserves to be a buy/hold investor. IMO.

@Edith TenBroek thanks for the great question!

1. Self determination.

2. Family time.  I make my schedule and I schedule my priorities.

3. Exponential growth of my personal net worth/income based on my strategic decisions.

4. Intrinsic reward of taking properties nobody wants and making them into something anyone would want.

5. The opportunity to set people up for success.

Just to name a few ...