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All Forum Posts by: Ronald Rohde

Ronald Rohde has started 17 posts and replied 5103 times.

Post: Commercial Lease Question: Tenant pays proportional share of T/I?

Ronald Rohde
#2 Commercial Real Estate Investing Contributor
Posted
  • Attorney
  • Dallas, TX
  • Posts 5,324
  • Votes 2,247

Everything is negotiable, depends on the market

Post: Tenant in default in Texas

Ronald Rohde
#2 Commercial Real Estate Investing Contributor
Posted
  • Attorney
  • Dallas, TX
  • Posts 5,324
  • Votes 2,247
Originally posted by @Jim Cummings:

@Ronald Rohde. Thanks for the input and correction.  Does your statement mean it's possible / probable the Owner could file for Garnishment and collect from wages if the sum is less than $10,000 allowed in Texas JP Courts? 

 You can garnish any judgment, its just not cost effective...

Post: Learning to buy from owner - no realtor

Ronald Rohde
#2 Commercial Real Estate Investing Contributor
Posted
  • Attorney
  • Dallas, TX
  • Posts 5,324
  • Votes 2,247

The title company handles most of the heavy lifting, whats the purchase price?

5 hours is about $1,750? are you saying that is more than 6% which would be paid as broker commissions?

Post: Commercial/ Industrial Lease Space - help with exposure

Ronald Rohde
#2 Commercial Real Estate Investing Contributor
Posted
  • Attorney
  • Dallas, TX
  • Posts 5,324
  • Votes 2,247

Signage on property, does it have renderings?

Post: Downpayment for commercial loan

Ronald Rohde
#2 Commercial Real Estate Investing Contributor
Posted
  • Attorney
  • Dallas, TX
  • Posts 5,324
  • Votes 2,247

Depends on the terms of the loan, most lenders require DP to be equity or gift not debt.

Post: Looking for a team in Houston

Ronald Rohde
#2 Commercial Real Estate Investing Contributor
Posted
  • Attorney
  • Dallas, TX
  • Posts 5,324
  • Votes 2,247

A duplex should give you that with 25-30% down.

Post: Tenant in default in Texas

Ronald Rohde
#2 Commercial Real Estate Investing Contributor
Posted
  • Attorney
  • Dallas, TX
  • Posts 5,324
  • Votes 2,247
Originally posted by @Jim Cummings:

@Harsh Singh.  YOU CAN DO THIS YOURSELF - DO NOT NEED AN ATTORNEY!
 

YES - Texas has very Landlord Friendly Laws. 

Your best option is to take the matter to Justice Of The Peace (JP) Court in the JP District in which the property is located. Make a Claim for whatever rent is owed, and any damages to the property. Most likely the JP will allow you the back rent and damages. Some will allow you to add Late Penalties, others won't. Total amount of Claim CAN NOT Exceed $10,000.00. 

You can Sue Tenant(s) for the Monies owed. JP will most likely issue a Default Judgement in your favor. You can record the Judgement in County records and file with Credit Bureaus - Not sure how to do the filing with Credit Bureaus. Constable will serve the Notice of Suit, if you can tell Constable where to find the person(s). Constable will probably make 1-2 attempts at Service, and that's it! It's a Civil Matter, so NO real out of ordinary action will be taken to serve the civil suit. Your real difficulty will be in collecting anything from the Tenant. Don't think Texas law allows you to Garnishee Wages for payment of Back Rent.(I Could be Wrong!!) . 

If you file with County Records and credit bureaus, and you're lucky, one day in future, the person(s) will attempt to buy property, auto, etc, and the judgement will show up on their file. At which time they may need to clear it up before can proceed with the purchase. And, if you're luck you may finally, receive some of the Monies owed.  

Best Action is put your property on the market and get it rented again.

NOT LEGAL ADVICE!!

 No need to shout here. If the amount outstanding is greater than $30-50k, I would hire an attorney because you can garnish bank accounts, file notices and liens, depending on the credit of the tenant they will eventually settle rather than declaring bankruptcy over such a small amount. 

Post: book suggestions for apartment complex

Ronald Rohde
#2 Commercial Real Estate Investing Contributor
Posted
  • Attorney
  • Dallas, TX
  • Posts 5,324
  • Votes 2,247
Originally posted by @David Morehead:

Thanks everyone for the awesone advice. I really appreciate it. Ill let everyone know how it goes. BTW closing soon on our first property for a flip. Looks good. First one is the most important right!!!

 Good luck!

Post: analyze commercial deal please help Under Contract

Ronald Rohde
#2 Commercial Real Estate Investing Contributor
Posted
  • Attorney
  • Dallas, TX
  • Posts 5,324
  • Votes 2,247

I would suggest finding a local trusted broker or attorney who can advise on specifics for a fee.

Post: Passive syndication investment vs other REI options

Ronald Rohde
#2 Commercial Real Estate Investing Contributor
Posted
  • Attorney
  • Dallas, TX
  • Posts 5,324
  • Votes 2,247
Originally posted by @Scott Price:

Thank you everyone for the responses! It does help me sort out things as I weigh out my options.

 I think recourse and liability are also important. If something goes wrong and you lose your principal, blame the fund. Buying physical assets is unlikely to lose principal unless you're over leveraged...

To me, the control is more valuable with direct investments, passive investments are for later in my career.