All Forum Posts by: Ryan M.

This is also the direction I am turning. With values up on income properties, the numbers/returns are not stellar like they were. For a strong return on cash I can put up with the bs/problems with rentals.

But with the returns on new properties now after running the numbers it makes more sense to turn to the note buisness.

On a side note, when people say cash cow I get nervous. Either there is a ton of future maintenance or someone is trying to unload a problem.

If it was in fact a cash cow why would anyone sell?

Has that bank check cleared?

How long were the people there?

If that's the only things wrong I would be happy and move along.

Be sure to follow up on how this plays out.

It does get recorded and shows up on every credit report I have pulled on myself or others have pulled.

It shows paid in full but that was more messing around because the tenant never reported it.

I had to go back to court and the judge had to approve with supporting data to just have it say paid.

How many pads?

I have had this. IMO try to settle. The one time I did end up in court they determined there was a small amount that needed to be refunded. No big deal, however, it shows up as a judgement on the record.

The court can and will award triple damages. It's not something worth playing with to prove a point if it can be worked out on the front end.

While this may be 10% of gross it may be 100% of net on most properties people are buying financed to the max.

It still boggles my mind how people can get a decent return while losing this much net. There are easier ways for better returns on cash.

Just my $0.02

Bedbugs or anything weird that is relatively easy to correct are deals I jump on.

They are all little dollar bills that stay in my pocket during closing.

I was under the impression that I'm already retired :)