All Forum Posts by: Account Closed

I'm in the middle of probate hell with my mother's estate.  In my opinion, the biggest problem here would be any other heirs suing over her selling you the property and contesting the sale.  Considering the state it's in, etc., along with the possibility of heirs suing you, I really don't think it's worth it.  Either let her leave it to you, and even then it could be contested, or look somewhere else for an investment.

And then, just offer to take care of her.  Odds are that's what she's really worried about - either having someone to take care of her or enough money to pay someone else to do so.  

She could always just sell it on the open market, and then pay you or someone else to take care of her.

Just require your tenants to carry renters insurance, including a rider in case they are displaced from the unit because if it being flooding or burning down, etc.  That's the only time, in my experience, it was a pain when a tenant didn't have insurance.  They have to move out temporarily because the unit was flooded, for instance, and they didn't have insurance and expected the landlord to pay for a hotel room and I'd have to explain that that's what renter's insurance is for and remember that clause in the contract that suggested they get renters insurance?

Anyway, if it was up to me, I'd require renters insurance and specifically that rider.

You need them to get their own insurance in case whatever happens is their fault and not yours - they left the stove on and it burned the place down, they left the tub running, they let someone in who broke their leg, etc., etc.

Just today I was listening to a radio show on NPR about people from CA moving to TX and there was a story about a family who had a son with developmentally disabled issues.  They hadn't considered this when they moved to TX and it turns out that there aren't the same amenities for their son in TX as there were in CA.

Whenever taxes are cheaper somewhere, you will have less amenities.  And if you do have amenities, the taxes will be there in some form or another.  Maybe not sales or income, but maybe in property taxes, etc.

Anytime it's cheaper to live somewhere else, you really need to look at why.  Are you sure you won't actually pay more in the long run per some tax or other, or will your property be up for reassessment every year and can it be taxed to the point of pricing you out of your home?

You just really need to look at everything.  When you leave CA, you lose your Prop 13 benefits and lots of amenities that those other higher taxes pay for.  Sure you want to give those up?  

I have friends who left southern CA to move to NV and after just one winter there, moved back to southern CA.  

I've lived in other places and there are so many things about living in CA that are unique and priceless, like low humidity and pretty much zero bug issues.  Pretty much anywhere else is going to have cockroaches or mosquitoes that can carry of small children - and TX has scorpions.  Just sayin'.

That said, even though I'm a Democrat, I do really like TX.  But, I really hate their bugs, etc.  If I had to leave CA, I'd consider TX, but I wouldn't be thrilled.  I'd rather visit there.  Nothing like TX hospitality and Tex Mex.

I've purchased 3 properties over my lifetime with seller financing.  The only reason a seller will consider it, is either because they want to make more money by financing the deal with a higher interest rate than they can get from other investment options, or they can't sell it to anyone else with traditional financing.

So, the good news is that if they are considering financing the deal, they are basically desperate for some reason.  

The bad news is the same as the above - why can't they sell it to someone with traditional financing?  Something is wrong with the property probably.  A very tiny possibility is that they are just greedy.  But, more likely is that something is wrong - something's hinky with building permits, etc.

 Don't know about there, but in CA, if you are an on-site property manager, you don't need a license.  So, maybe you could look into that.

You don't need a license to manage your own properties either.

If you don't want to re-do and are concerned about sale value, then go with the granite type counter tops for sure.

Google the landlord-tenant laws for where your property is.  Different cities/states have different laws regarding what's allowed.

  I could not disagree with you more.  Your education or experience as a lawyer has zero to do with how to approach someone like me, and in fact, it gets in the way of it.  This is exactly, exactly, exactly what my point was, and you refuse to take it.  If you were to actually see the situation from the heir's point of view, no doubt your success rate would be much higher.  But, I fear that you are so married to your idea of yourself and your method that you won't see a higher success rate because of it.

The entire industry of people who seek to benefit from the loss of others is truly despicable.  It's the rare person who is truly trying to help, who is honorable and respectable and is able to communicate this, while both parties truly profit.  I fear you are not one of these people, who actually are respectable and honorable, with the best of intentions.  It's too bad, because you would probably actually make much more money if you were.

What a great lesson for all of us.  Well done. 

 If you say so.  One day, you may be the one receiving these letters.  Let's see how you think about it then.  I just got another one today.  Hello shredder.

You can learn from what I'm saying or not.  I can't make you become more successful, if you won't listen.  Your loss.