All Forum Posts by: Scott Mac

It also might be wise to speak with your escrow company about how they intend to handle the LLC in its closed down condition with the state due to non-payment.

Good Luck!

Is there enough of a data set of these tax sales In your area, during the recent economy, to come up with a statistical likelihood that is reliable??????

If you have to ask that question, nobody knows your situation better than yourself, and you could not answer yes your income is fine-  most likely it is not.

That is my thoughts on how you would know.

Good Luck!

What kind of maintenance costs are you running into?

Much of What remains of Detroit appears to be brick, a low maintenance exterior.

Many of the refurbished structures seem to have new windows put in.

When you do a rehab are you using new appliances or used appliances?

Are you upgrading the old 110v electrical system to 220v 3 wire?

Are you sludge hammering out the old coal heating systems for modern natural gas Forced air HVAC units?

Exactly what kind of maintenance costs are you having problems with?

Let's turn this crystal ball a little bit, and look at OWC from another angle.

Something that hasn't been brought up is the no money down dreamer who is just starting out with empty pockets.

And also the risk that may be associated with not having experience in this business handling a refurbish and bringing a property up to stabilization.

What I'm saying is, a cash cow for some, might be a very sharp tooth alligator for others.

Just my 2 cents.

If it were mine, I would have the same company come out that did the install and refurbish the area back to its original condition.

And dun the security deposit for the amount that it cost to restore it.

All the while remembering- there are no pit cats, only pet cats (and dogs using the backyard as a restroom is one of the reasons I think cats make better renters than dogs).

And the reason I say cats and dogs are both renters, is because the signatory to the lease typically considers them to be family members.

Move to ban their pet, and see how long the signatories continue to pay you rent or just move on. 

Good Luck!

Your outdoor setup reminds me a little bit of this classic movie scene:

https://www.youtube.com/watch?v=JrYtD7gSWsI

I think this owner needs to screen his renters a little better, And fix that hole in the wall.

 For @Carl Stenberg' .....

It seems like that would be a question to ask the attorney that set up the trust up.

Can you not get courtroom legal defense from the attorney that set this up - or is this person just telling you comply with the subpoena you have no choice ? 

Good Luck!

Small claims against the lender maybe, maybe, maybe???????