All Forum Posts by: Ronald Rohde
Ronald Rohde has started 17 posts and replied 5108 times.
Post: Just approved on HELOC & my husband wont sign in Texas. Help
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,329
- Votes 2,254
Originally posted by @Jerry W.:
http://www.biggerpockets.com/forums/48/topics/1865...,
I am sorry I cannot find the other links. I have dealt with this in some fashion for over 20 years. Some folks say you cannot make it without the support of your spouse, I disagree. It is hard, but not impossible. For what it is worth I am technically becoming unemployed from a government job in January. I worked there for 12 years. Folks are asking me what I am going to do. The fact is I don't have to worry about it. I have made a little money over the years as an attorney, however my real estate net worth is 3 times what my assets are from working my regular job. My wife said we need to ramp up our law practice and be going by January, I said lets take January off. This is only possible because of real estate. She said you know you I am glad you invested in real estate it really worked out. (I nearly fainted) Of course I told her I had two houses I wanted to buy and she said we didn't need them and walked away. The security from real estate is worth the risk. I lost my job of 12 years and have absolutely no fear of the future thanks to real estate investing.
It is hard to get your spouse to see your vision. Be kind be honest, and ask them to be the same. Will they fight you or block you from pursuing your dream? Or will they believe in you and love you even if you don't do what they want you to do? Hard questions, but they need answered.
What kind of law do you practice?
Post: How to find prime land to develop in Miami?
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,329
- Votes 2,254
Originally posted by @Angel Pedroza:
What is the best way to find the best pieces of land left in Miami where the price is not an issue?
I have worked with the type of client you refer to. Chinese "investors" who care less about making profit or building something but they have tons of cash and need to park it in a safe asset. Honestly, your clients should not have a problem finding what they need if they work with the right providers.
Have you done any deals with these guys? Have you verified proof of funds?
Post: What is the best way to find hotels for sale?
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,329
- Votes 2,254
You can read REIT filings and see who owns your property type that isn't in line with their core anymore--geography and asset type. Write them letters, I have clients that acquire 3-6 hotel assets at a time from REITs this way.
Post: Question on Commercial Lease
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,329
- Votes 2,254
Originally posted by @Frank Painter:
Anyone operating such a property, can you share your utility cost ? That is the one unknown factor for me.
Few hundred a month??? Likely less than $1,500. You should ask your local attorney or CRE broker. They will have all this information and more, but no one on BP can answer this question reliably.
Post: Builder not follow thru with repair request. What to do?
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,329
- Votes 2,254
Originally posted by @Richard Sherman:
@Trinh Huynh It is time to find a local (in TX) attorney who specializes in construction defects and go after the builder and/or their bond company. I would also consider hitting the CCB board in TX with a complaint.
Maybe 1 more call/email laying it out. Listen, here is the new report, and I want the following
1. Repairs made and I will have them inspected
2. You are covering all costs for inspectors
3. You are covering any lost rent or other issues
4. If these are not done, I am
A. Filing a complaint with your licensing board
B. We will be filing suit against the builder, the selling agent and their construction insurance.
Pretty good post, but Texas doesn't license general contractors so not much recourse there. Jump right to filing suit and if he's still building then he has cash flow we can attach.
Post: LLC Repurpose - Texas Lawyers
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,329
- Votes 2,254
If there aren't other assets or businesses in the LLC, you can "re-purpose" you can file another DBA as well.
If there is any chance of prior liabilities, I would form a new LLC.
Post: Transfer Ownership of an LLC from one person to another
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,329
- Votes 2,254
Originally posted by @Derek Rice:
Also, does a seller then save county recorder & conveyance fees selling this way? Any other savings or costs vs traditional sale?
There is no search for LLC's, yes you would typically save on recording conveyance fees. really depends on your local jurisdiction.
Post: No interior tour until under contract?
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,329
- Votes 2,254
I would factor in a discount for worst possible scenario of interior condition. Submit offer.
Post: Investing in assisted living
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,329
- Votes 2,254
Your Operator should have experience with referral fees. As part of many management agreements, they must provide you with an annual budget both for their reliance and for your information. Referral fees are a line item in any decent budget.
Post: Arlington Texas for investment rental property
#3 Commercial Real Estate Investing ContributorPosted - Attorney
- Dallas, TX
- Posts 5,329
- Votes 2,254
Can you link me to the $1,800 one for $200k?