Real Estate Family Feud Sets Off Nerve with a Lot of Us

Will your children end up having a family feud over the real estate empire you are building? How can you stop it?

Real estate family feud

Real estate family feuds are more common than any of us would like to admit.

Here is the Sakow story of two sisters, Evelyn and Diana, who have been fighting their brother over a real estate fortune for 30 years.

Beware: It ain’t pretty.

Here’s another heads up. 

As your own mini real estate empire begins to emerge, one property at a time, keep in mind you could acquire quite a cache of properties by the time you retire.

What will your children do with it?

What if they have major differences on how it should be maintained, etc.?

These are things we all need to think about now.

Read Family Feud Over Real Estate

Contaminated Drywall Haunts Real Estate Investors and Homeowners

Warning: If your house is less than five years, the drywall could be crumbling… it may have come from China and may be contaminated…

Contaminated DrywallContaminated drywall is getting to be a big problem for anyone buying a house that is less than five years old in the South and California.

Problem is during the building boom, drywall supplies were running low, so drywall was imported from China.

Some of that drywall is now proving to be defective.
Here’s what is happening in some of these new homes.

walls are cumbling
appliances are breaking down
electrical wires are eating away
bad noxious smells forcing families out Continue reading “Contaminated Drywall Haunts Real Estate Investors and Homeowners”

How to Evict, Part 1

Here is a vid on how to evict some really bad tenants.

One of my most fav real estate investors, Jerry Pierce of REI Rebel, takes us through the first step in his first step vid.

Here is a vid on how to evict some really bad tenants.

One of my most fav real estate investors, Derek Pierce of REI Rebel, takes us through the first step in his first step vid.

Derek apparantly bought this property and the tenants came with it. 

You must honor the lease when you buy a property, but the tenants are supposed to honor it also. 

These tenants have not paid the rent to him for whatever reason and they are now two or three months behind.

What he is doing is legal in most areas, but here is a disclaimer.  Always check your local laws to see exactly what you can and can not do.


 

I guess it’s just me, but I was hoping for a little tad more drama.

But if you caught what he said about the “big dog” that’s enough excitement for me. 

I think he handled it very well.  He didn’t show fear and that’s vital.

However, here’s an important point.

The eviction process is really just like anything else you learn to do.  It’s systematic and just happens because you as  a real estate investor or landlord can make it happen

Tenants in Foreclosure Forced to Move

Tenants in foreclosure are those who are getting stuck when their landlord defaults on a rental property’s mortgage. Who is to blame?

foreclosure tenants

Tenants in foreclosure are those who are getting stuck when their landlord defaults on a  rental property’s mortgage.

This is a difficult situation, but as the economy works its way out of this downturn, more and more tenants will find themselves forced to find new housing.

As a landlord, I think tenants sometimes overestimate their connection with a property. It is not their home in the sense that they can always live there.

It is a rental. They are only connected by a lease, and many of us think a lot of tenants don’t care about following it.

But now we have tenants who are hurt, angry and upset because they may have to move.

CNN has a story about a lady caught up in this gray area between lease and leave.

Her landlady rented to her even though the property was in the foreclosure process.

I think in this case, this tenant does have a point. I also believe she was misled believing everything was okay between the landlady and the bank.

So here’s what we can expect.

Some of our future tenants, the smart ones, may be asking us if we have a mortgage or if we are behind on our mortgage.

We shouldn’t take offense at that.

Read Tenant evicted even though she pays rent on time

How To Buy Foreclosures

Buying foreclosures is getting easier than ever. You can check out the deals on the Internet and you can go to the auctions plus bankers want to talk…

foreclosures  How to buy foreclosures?  It’s getting easier than ever.

Not only can you now check out foreclosed properties on Internet sites, but as always, you can go to the bank and talk deals.

Bankers don’t want to be landlords as we’ve already talked about. 

They also don’t want to be rehabbers.

So what happens when a bank doesn’t want to spend a measly $15,000 to fix up a repo house?

That’s where you and I come in.

Think getting really good deals is impossible?

They’re doing it in Phoenix, which has been considered one of the worst markets during the last few months.

Here’s an example: A Phoenix home that sold for $190,000, recently sold for $45,900.

Read Buyers Flocking to Cheap Foreclosed Homes