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Message
re: Giving an eviction notice on a violent renter next week. (UPDATED IN OP)
Posted on 12/27/16 at 12:02 pm to GenesChin
Posted on 12/27/16 at 12:02 pm to GenesChin
Agree that immigrant work ethic built this country. But so many of the most fervent anti-immigrant voices aren't objecting to new immigrants on logical grounds---they're objecting on the basis of race/color/primary language/national origin. We wouldn't be talking about building a wall if the people coming across the border were, say, English.
Students of US history realize that anti-immigrant fervor gets stirred up periodically in this country: when Chinese coolies were flooding the West, helping to build the transcontinental railway & supplying the gold fields of CA, people worried about (and newspapers fanned the flames of the) "Yellow Menace". Result: Chinese people were prohibited by law from immigrating to the US while we accepted millions of European immigrants through Ellis Island. The fear of non-Christians who didn't look like Europeans led to long term barring of Chinese immigration....the Chinese Exclusion Act was passed in 1882 and not repealed until 1943. Today, Chinese ppl are the third most common immigrants to the US (after Mexicans and Indians).
Students of US history realize that anti-immigrant fervor gets stirred up periodically in this country: when Chinese coolies were flooding the West, helping to build the transcontinental railway & supplying the gold fields of CA, people worried about (and newspapers fanned the flames of the) "Yellow Menace". Result: Chinese people were prohibited by law from immigrating to the US while we accepted millions of European immigrants through Ellis Island. The fear of non-Christians who didn't look like Europeans led to long term barring of Chinese immigration....the Chinese Exclusion Act was passed in 1882 and not repealed until 1943. Today, Chinese ppl are the third most common immigrants to the US (after Mexicans and Indians).
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Posted on 12/27/16 at 12:13 pm to I Love Bama
quote:
About 2 years ago I bought a foreclosure for around 15k in cash that needed a lot of work. I "sold it" for 35k (2 days later) to a guy on a 10 year payment plan at 9% interest. Easy home run deal for me.
Bribing him is the right move, but I just want to point out that dealing with the occasional violent batshit renter is the downside of the "home run" real estate model you've been bragging about for the past few years. If anything I'm impressed you've made it this far. There's no such thing as a business model with a risk free 9% return.
Posted on 12/27/16 at 12:19 pm to I Love Bama
quote:
I won't make that mistake again going forward. My hispanic tenants are PERFECT.
Not to go Poli Board, but concern about immigration laws is one reason the Hispanic renters are so punctilious. They would much prefer not to have the possibility of a visit from the sheriff's office.
Posted on 12/27/16 at 1:11 pm to GaryMyMan
quote:
Or people who balk at paying triple market value @ 9%?
Your postings prove you do not get it. These people do not qualify for traditional financing.
They are being provided a chance at housing of which they can own with lease-purchase plans.
Private lenders do long term deals all the time @ 10%.
Hard money even higher but usually not past a year.
The OP is the bank here. he can foreclose on that property whenever the hell his lease-purchase agreement allows him to should the buyer default on those terms.
Posted on 12/27/16 at 1:19 pm to StealthCalais11
quote:
"Subtle" Porsche brag
prolly leasing it like thabigfella does with his rolls royce. remember that pic in that whataburger drive thru?
Posted on 12/27/16 at 2:49 pm to GaryMyMan
quote:lmao....that watch is crap.
Message
Giving an eviction notice on a violent renter next week. Thoughts? by GaryMyMan
Well I paid $200 for it but I'm leasing it to a guy with no credit for $150/mo for the next decade
Posted on 12/27/16 at 4:42 pm to Cold Cous Cous
quote:
There's no such thing as a business model with a risk free 9% return.
Check your math
And I agree....learning lessons as I go. Still worth it...
Posted on 12/27/16 at 4:48 pm to I Love Bama
Call your local marshal and let them know what's going on. They should send a deputy out there with you.
Posted on 12/27/16 at 4:51 pm to Fat Bastard
this thread made me laugh because I think Gary used to be a landman, which also involves striking disadvantageous deals with ignorant po' folk. 
Posted on 12/27/16 at 7:13 pm to boosiebadazz
What's the *worst* thing a landman can do? Lease at 1/8? I don't even know anyone who does that anymore.
Swindling minerals is much more likely to be done by a relative, in my experience.
Swindling minerals is much more likely to be done by a relative, in my experience.
Posted on 12/27/16 at 8:56 pm to GaryMyMan
Just sayin, bruh, you've been balls deep in capitalism, private property rights, and securing the best deal for your client.
This newfangled moral Marxism is a new look for you.
This newfangled moral Marxism is a new look for you.
Posted on 12/28/16 at 8:22 am to boosiebadazz
Do you use a PO box for the tenants to mail their checks? If you are renting to lower class you really should so they don't have your address.
I would do as said and offer him money to move. I'd start lower than you are willing to go though.
Also, you have made good money here so why sweat it? I mean make him an offer over the phone or personally, if that doesn't work then just pay for the police and courts to do the work and don't stress about it even if it takes 4 months.
I would do as said and offer him money to move. I'd start lower than you are willing to go though.
Also, you have made good money here so why sweat it? I mean make him an offer over the phone or personally, if that doesn't work then just pay for the police and courts to do the work and don't stress about it even if it takes 4 months.
Posted on 12/28/16 at 11:26 am to GaryMyMan
Damn i always thought you were black, not pasty white.
Posted on 12/28/16 at 11:38 am to diat150
promise tenant off camera $1000 if he gets out without destroying place. Get him out, don't pay him shite. 
Posted on 12/28/16 at 12:18 pm to baldona
quote:
If you are renting to lower class you really should so they don't have your address.
they can still find him through the tax assessors office and public records online.
Posted on 12/28/16 at 12:32 pm to Fat Bastard
We both know they have no idea how to do that.
Posted on 12/28/16 at 12:32 pm to Fat Bastard
If my broke dick tenant is that sophisticated then he deserves to kill me and frick my wife.
Posted on 12/28/16 at 12:33 pm to I Love Bama
quote:
There's no such thing as a business model with a risk free 9% return.
Anything investment has risk. Hell, cash has inflation risk. They key, which I think you are doing, is to reduce and mitigate the risk as much as you can.
in the market you play in, you are going to have some unexpected and expensive issues. Such as this. That is risk. I think, based on your prior discussions over time, that you are still being handsomely rewarded for your risk, and you are taking steps to mitigate (not eliminate) your risk. Steps for which make sense.
Posted on 12/28/16 at 12:36 pm to I Love Bama
Posted on 12/28/16 at 12:57 pm to I Love Bama
quote:
I Love Bama
Can we get an update? How did the notice go?
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