All Forum Posts by: Tevis Verrett

Go Super Bill Gulley Go! Welcome to the noobs and I am learning a great deal, as I have a property mgr here in Cali holding onto the security deposit of a property I am getting make ready, and he is acting like the past tenants best friend. . .

. . . to the financial detriment of the owner!

Buhring the knowledge,

Tevis

Hey Alan Langer the tax lien always will have first priority, even before the first mortgage.

You can do the subject to, or master lease, or whatever. . . but that tax lien will eventually need to be paid for clear title.

If it is a good enough deal, have the guy deed the house over to you, OR put it in a land trust, and once in your name pony up 15K in food stamps to Uncle Sam.

Keep us informed, and a warm welcome to BP,

Tevis

Good Lord Katie DeLorme

I feel for you and the hairs on the back of my neck are standing up with rage.

Lawyer up, go to war! She has scammed you. My sage brothers and sisters have given you wise advice.

She didnt pay rent, everything else is moot. Start eviction proceedings and chalk this up to lessons learned.

I have a half a million dollar property out here in Southern California, that I have just rented. Even though the tenant is a senior level executive, I vetted him bigtime, checked every orifice, and made sure that his credentials are solid. . .BEFORE HE MOVED IN!

Also, CASHIERS CHECKS, credit cards can easily be put into chargebacks.

Also, with high value properties, it is prudent to be patient. Easier said than done.

Guns now placed back in their respective holsters,

Tevis

Brandon Turner I am sure you are already the MASTER OF THE DEAL. . . and this is a good discussion, and here is my 0.02 from a noob RE investor& dealmaster:

We all negotiate to get through our daily interactions, be it bosses, spouses, friends. . .

. . . and even though I wear my heart on my sleeve. There is just sometimes it doesn't matter if they like me. This is one of them. I don't give an excuse to justify an offer that makes sense to me vs. the overblown expectations of a sentimental seller.

. . . so insulting offer away. If they don't counter, when are you going to see them again?

Now, start worrying if they giggle at your offer and quickly accept!

What have you missed?

YMMV and much good luck out there all,

Tevis

Will F. I am right smack dab where you are with my eviction also. Yours has already tolled to I offer this to my other BP brethren.

Screw trying to squeeze blood out of the rock that is your deadbeat EX-tenant.

Go buy Nolo's The California Lanlord's Law Book: Evictions.

In Chapter 7 it goes over what to do after the Sheriffs Lockout, go back to court and git your money!

It is just a bit more of paperwork using the same form (CIV-100) to request a court judgement awarding you damages.

. . . then comes the process of collecting!

I looked at your Rent Recovery Svc link, thank you for that.

Be well all,

Tevis

Hey Cody C. put your right hand over your back pocket, rise from the chair, find the nearest exit. . .

Good for you, and brother you came out of it unscathed.

Now, do what all my above brothers and sisters have opined.

Moog the library (dont really know what 'moog' means, just hit me at the moment. . . insert synthesize a la Robert Moog)

Secondarily, find a mentor building the empire that you want to build, and create maad value for them. . .before you ask for help.

Thirdly, welcome home. You will find BP an invaluable resource.

Looky here:

http://www.biggerpockets.com/renewsblog/2013/04/09/how-to-buy-a-small-multifamily-property/

Brandon Turner has such a big heart, and is ALWAYS helping. Colleague him and follow him. He gives out sage musings on a regular and consistent basis.

Above all, enjoy the camaraderie of entrepreneurial folks like us, building legacies for our children, our children's children. . . .

Blessings all,

Tevis

George Paiva thank you for creating this thread. Got my cup O' Joe and getting comfortable. . . ready to learn from you titans.

Blessings on this Wednesday,

Tevis

Brother Laurence Bealer thanks for starting this post. Great advice given all.

I was moved to comment on Michael Heisterkamp's response.

My 0.02:

Fear manifested in protecting one's nest egg. How much risk can be tolerated. In my 20's, I was immortal, now at the wise old age of (gud lord you are how old?) I have to calculate, ". . .will this one bankrupt me?"

An mentor and old friend Ned Carey shared with me the age old wisdom, ". . .the deal of the century/deal of a lifetime. . .

. . . comes around once or twice per month!"

So, smartmoney sits and waits. . .

How much risk can be tolerated!

Good Business, All!

Tevis

I come to BP every morning, with a cup of coffee to be inspired and to also learn about the whacky world O' REI.

Brother Josh W., thanks for this one. . . This is a doozy!

Tevis

I agree with Karen Margrave, be your tenants knight!

Look in your area for nonprofits that are guardians stamping down racial injustice and harassment. Contact the fair housing authority.

Once she sees that you are your brother's keeper. . . Not only do you gain a lifelong tenant; you will also have an grateful fan.

Help her cowboy up, and if necessary lawyer up!

Tevis