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All Forum Posts by: Stone Teran

Stone Teran has started 53 posts and replied 369 times.

Post: Multi-Family Properties

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120

Yup.  Old buildings, party animals as tenants but the demand is strong and rental rates high.

Post: Is 10 days Enough Time to Close?

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120

Who cares how much they owe?

Do you have a lender?  The banks are the reason closings usually don't happen in 10 days.

Post: New Apartment Owners

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120
Originally posted by @Marcus Tanner:

@Andy D. She informed me that the owner of the apartments are changing the apartments to government HUD assistance or something like that. And they want her to provide them with 8 weeks of paycheck stubs and any other income information she is receiving. Then he stated to her that if she don't qualify because of her income being to much, she has to leave within 30 days. She knows she won't qualify because they lowered the rent also. Can she be evicted if she refuses to give her info. She just wants to stay in her apartment until the lease is up because it's going to inconvenience her because she has to buy things for the home. Is this legal giving her 30 days?

Unless I'm missing something, I don't see how their eviction could possibly prevail.

Post: Assessing Value on a burnt home

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120

Does the city allow occupancy in the building?  Many of my concerns would be on that end.

Post: Buying an 8,000 property

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120

Banks probably don't want to go through the hassle of a mortgage for so little.

Check out lendingclub.com if you have good credit.  They are great.

Post: Tenant not giving firm date of vacancy

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120
Originally posted by @Wesley W.:

Not to be cynical, just prepare for her not to follow through.  I learned pretty quickly not to pay much attention to what a tenant says, but what they actually do.

 Yup.  If they say they are gone Aug 15, NEVER ask for half of August.  Get full August rent and settle it when they return their keys.

Post: Tulsa, OK Homeless Handyman

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120
Originally posted by @Thomas S.:

Investors need to question why a individual with skills does not have a job and a place to live. The answer is usually obvious and the reason is the same reason why it is best to rely on licenced contractors to do your work. He most likely has mental issues and is unreliable.

It is nice to be able to help others but regrettably the reason they often need help is why you can not help them. Been there done that.

If someone truly wants to help him the best thing anyone can do is try to find him a regular job and hope he can hold it down.

 It depends on what you're willing to pay for.  Most of these guys have "professionalism" issues, such as being lazy and unreliable and some aren't the brightest but they can thrive on the right team.  You get what you pay for and sometimes you need cheap labor.  

Post: Landlord Breaking Lease before move in date

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120
Originally posted by @Account Closed:

If the landlord wants you out at this time, he has to evict you, and for that to happen, he needs a very good reason. It takes a whole lot more work than just saying "no, you can't have it".

 I believe you are incorrect.

Post: Motivational

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120

If I followed your rules, I'd be making a lot of offers haha.

Post: I Am Fifteen, What Can I Do Now?

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120

I disagree with Joel.  Adrian, you should work on your grades, go to college, get a good job in a related field and get into real estate for yourself once you have some money and experience.