All Forum Posts by: James Wise

Quote from @Nick C.:

Hopefully more states will follow. It's unreal that squatters have rights at all, and laws like this are needed in the first place. 

 The Red ones will. Lord help those poor souls living in the Blue ones.

Removing squatters from private property just got a lot easier in Florida thanks to Governor Ron DeSantis and his new squatter law. During the 97th episode of The Ask James Wise Show, James Wise explains why Florida's new anti squatter law makes is as close to perfect as you can get and why all of the other liberal cities in the USA need to end squatter's rights and pass common sense housing laws like this one.

CLICK HERE TO WATCH THE VIDEO

What do I think about Florida's Anti Squatter Law? | Ask James Wise 97

CLICK HERE to talk to me about investing in real estate in the following cities.

- Cleveland, Ohio

- Columbus, Ohio

- Akron, Ohio

- Canton, Ohio

- Cincinnati, Ohio

- Dayton, Ohio

- Miamisburg, Ohio

- Elyria, Ohio

- Lorain, Ohio

- Toledo, Ohio

--- I work with that Australian slice of man pie @Engelo Rumora & the blonde bombshell @Dominique Osborn as well as the rest of the OzRealty team on my Toledo deals. Ask them about it.

- Warren, Ohio

- Hamilton, Ohio

- Lakewood, Ohio

- Garfield Heights, Ohio

- Euclid, Ohio

- Maple Heights, Ohio

- Ashtabula, Ohio

- Conneaut, Ohio

- Sandusky, Ohio

- Vermilion, Ohio

- Lima, Ohio

- Dublin, Ohio

- Springfield, Ohio

- Detroit, Michigan

--- I work with those pieces of juicy man meat @Drew Sygit & @Michael Smythe as well as the rest of the Logical Property Management team on my Detroit deals. Ask them about it.

CLICK HERE for Lender Financing

CLICK HERE for Seller Financing

CLICK HERE for General Contractor Referrals

CLICK HERE for a Personalized Turnkey Experience on ANY Property in Ohio &/or Detroit.

Quote from @Geetansh Sankhla:

Hello BiggerPockets community! I'm Geet Sankhla from Cleveland Ohio, I will be moving to Dallas Tx to get started with my full time career. I'm interested in getting started with real estate investing and excited to learn more! I would love to get connected with the community down in Dallas!

Excited to learn and connect with you all!

 Welcome aboard playa.

Quote from @Yocheved Beer:

Hi all,

I have found a house in Lehigh acres Florida for a purchase price e .75 of of the appraised  value and it is for sure a 1 dscr.

can I immediately buy this for  0 Dollars down

 If you live in it you can probably do 3.5% down. If not, you're looking at about 25% down.

Quote from @Kyle Doherty:

I've started working with a builder locally on our first Development/Build Project. Essentially I am finding and procuring the land/lot via traditional financing and funding everything through the development phase until we get to Construction Loan. 

The structure we landed on was as follows:

- Fixed Builder fee of $300k (each project varies but are 2-6 units, and 5,000-9,000 total finished sq ft)

- Fixed Return on all my initial capital invested of 50% (plus return of 100% of initial capital)

- Remaining Profit Split of 60/40 (60% to me, and 40% to him)

I understand a lot of this hinges on how accurate the proforma is and how close we can get to actually hitting our development costs estimates, build cost estimates, and sales per sq. ft. estimates. But assuming I feel extremely confident in the proforma numbers, does the structure seem fair for the risk and requirements from each party? This should be a win/win for both of us.

Would love input/opinions on this structure and if there are other ways I should be looking at it. Thanks in advance!

 Why partner at all? Why don't you just pay him to build the building and call it a day?

Adele Andaloro was arrested in Queens, New York for trying to evict a squatter from her own home. During the 96th episode of The Ask James Wise Show, James Wise explains why property owners should not be allowed to perform on the spot evictions without law enforcement the fact that it's completely insane for squatter to get away with stealing a person's home.

CLICK HERE TO WATCH THE VIDEO

Woman Arrested for Evicting Squatters from her $1 Million Home in New York | Ask James Wise 96

CLICK HERE to talk to me about investing in real estate in the following cities.

- Cleveland, Ohio

- Columbus, Ohio

- Akron, Ohio

- Canton, Ohio

- Cincinnati, Ohio

- Dayton, Ohio

- Miamisburg, Ohio

- Elyria, Ohio

- Lorain, Ohio

- Toledo, Ohio

--- I work with that Australian slice of man pie @Engelo Rumora & the blonde bombshell @Dominique Osborn as well as the rest of the OzRealty team on my Toledo deals. Ask them about it.

- Warren, Ohio

- Hamilton, Ohio

- Lakewood, Ohio

- Garfield Heights, Ohio

- Euclid, Ohio

- Maple Heights, Ohio

- Ashtabula, Ohio

- Conneaut, Ohio

- Sandusky, Ohio

- Vermilion, Ohio

- Lima, Ohio

- Dublin, Ohio

- Springfield, Ohio

- Detroit, Michigan

--- I work with those pieces of juicy man meat @Drew Sygit & @Michael Smythe as well as the rest of the Logical Property Management team on my Detroit deals. Ask them about it.

CLICK HERE for Lender Financing

CLICK HERE for Seller Financing

CLICK HERE for General Contractor Referrals

CLICK HERE for a Personalized Turnkey Experience on ANY Property in Ohio &/or Detroit.

Quote from @Rob Pattison:

James, agree with your post, which is why I refuse to own real estate in California.

The other side of the coin is that an elderly Korean War veteran on a fixed income is also being kicked out alongside everyone else.    

 He should have bought a house 50 years ago.

NYC's woke housing laws are at it again, making things worse for the people whom they are trying to protect. The woke housing law we're talking about in the 86th episode of The Ask James Wise Show is called RPL 235-f. New York Law RPLY 235-f is commonly known as the New York Roommate Law. The New York Roommate Law allows a tenant of any private residential apartment to share their apartment with their immediate family members, one additional occupant and any dependent children of that occupant so long as the apartment is the tenant's primary residence & so long as there is only one tenant on the lease. Unfortunately for single mothers out there, James Wise believes that the liberal politicians got it wrong with this New York landlord tenant law. James Wise believes that like a lot of liberal housing politics, this liberal roommate law is going to discriminate against the very people they were trying to help, New York tenants. The New York renters whom James Wise thinks will get the most amount of discrimination because of this law, is going to be single mothers. James Wise believes that by tying the hands of New York landlords, the liberal housing policies like this one cause landlords to push back. In this case, the landlord push back is likely to result in single moms being denied housing because the landlords are fearful of their single mother tenant moving in a boyfriend or baby daddy whom the landlord was not able to screen. Forcing landlords to accept tenants whom they were not able to perform tenant screening on is not logical. Forcing landlords to accept tenants whom they will be unable to evict is not a smart housing policy. The New York Roommate law is liberal nonsense that will likely make finding affordable housing in New York a lot harder for single mothers.

CLICK HERE TO WATCH THE VIDEO

Does the New York Roommate Law Discriminate against Single Mothers? | Ask James Wise 86

CLICK HERE to talk to me about investing in real estate in the following cities.

- Cleveland, Ohio

- Columbus, Ohio

- Akron, Ohio

- Canton, Ohio

- Cincinnati, Ohio

- Dayton, Ohio

- Miamisburg, Ohio

- Elyria, Ohio

- Lorain, Ohio

- Toledo, Ohio

--- I work with that Australian slice of man pie @Engelo Rumora & the blonde bombshell @Dominique Osborn as well as the rest of the OzRealty team on my Toledo deals. Ask them about it.

- Warren, Ohio

- Hamilton, Ohio

- Lakewood, Ohio

- Garfield Heights, Ohio

- Euclid, Ohio

- Maple Heights, Ohio

- Ashtabula, Ohio

- Conneaut, Ohio

- Sandusky, Ohio

- Vermilion, Ohio

- Lima, Ohio

- Dublin, Ohio

- Springfield, Ohio

- Detroit, Michigan

--- I work with those pieces of juicy man meat @Drew Sygit & @Michael Smythe as well as the rest of the Logical Property Management team on my Detroit deals. Ask them about it.

CLICK HERE for Lender Financing

CLICK HERE for Seller Financing

CLICK HERE for General Contractor Referrals

CLICK HERE for a Personalized Turnkey Experience on ANY Property in Ohio &/or Detroit.

Quote from @Mary Osborne:

Hello,

I just found out my section 8 tenant passed away.  She lives alone.  I was looking for help in the next steps I should take.  Any advice is helpful. No live in Pennsylvania.

thank you

 Have the family clear out the unit. Trash everything they don't take. Do a unit turn and then re-rent it. One thing to note, gotta be careful with the family. Sometimes some lowlife family members will squat in the dead tenants unit and you've got to evict them. I've had to do that 2 or 3 times in my career.

Quote from @Rob Pattison:

I own real estate outside of CA, both in the country and internationally but have chosen to rent in Hermosa Beach due to the high cost to buy a home in coastal southern California.

The apartment complex I live in was bought April 1st by an private equity company who gave all the residents a 60 day notice to vacate so they could due a total rehab.   

They are offering two months of rent as compensation (around a total of $3 for me).    Last week, I learned about Section 8.52.110 which is an LA County regulation requiring an owner to compensate residents they are evicting through the Ellis Act (no-fault) anywhere between $7k and $20k depending on the number of rooms in the apartments and the age/disability of the resident being evicted.

I believe Hermosa Beach follows this rule, the city lies within LA County, but can't verify with anyone from the City if the City has a rule that supercedes the LA County rule.

Can anyone with knowledge of this rule and how it is applied point me to a website or other source of information that would answer this question?

 Man being a landlord in California sucks. Gotta pay $20k to your tenants! Good god socialism blows.