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How long for eviction?

This topic contains 32 replies, has 0 voices, and was last updated by Avatar of ericw ericw 12 years, 8 months ago.

Viewing 15 posts - 1 through 15 (of 34 total)
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  • #3615
    Avatar of ericw
    ericw
    Member

    How long is it from the court appearance to eviction if the tenant don’t show?

    #21759
    Avatar of peter@amakya
    peter@amakya
    Member

    In Texas, it is 6 days for them to lodge an appeal. They need to put up the rent with the court, so that is unlikely.

    You then can get the Court to issue a Forcible Detainer and have the local Sheriff take it out. If they still do not move you put their stuff on the sidewalk.

    Total time from default to stuffs on the sidewalk dependent on your local Sheriff – two weeks.

    #21760
    Avatar of dbhenderson
    dbhenderson
    Member

    I guess I don’t understand. Why all this talk of evictions? If you use the NEHT and sell the “dream” of home ownership and sell the net lease, and sell the tax benefits and sell the instant equity in every lease payment there shouldn’t be ANY eviction problems AT ALL!

    #21761
    Avatar of scott_l._moyes
    scott_l._moyes
    Participant

    What if, what if, what if, what if, what if, what if, what if…..

    What if you never made an offer?
    What if you never closed a deal?
    What if you never put a Qualified RB in a property?
    What if you didn’t get out of bed in the morning?

    Well, then I suppose you wouldn’t have to worry about evictions then, would you?

    #21762
    Avatar of dbhenderson
    dbhenderson
    Member

    What if…you made a Full Price Offer, PLUS?
    What if…you sold the “dream” of home ownership with No Qualifying, No New Loans and No Credit Checks?
    What if…you passed through all the home ownership Tax Benefits and effectively added $400 to $800 to the RB’s paycheck by adjusting their W-4?
    What if…you split any appreciation in the property (after stipulated expenses) while they were leasing 50/50 with the RB?
    What if…you showed the RB that almost 75% of his lease payment was going to Instant Equity (because of those tax benefits and share of appreciation)?
    What if…you explained to the RB that in a few years when they are ready for permenent financing, that because they have been considered owner occupied they can re-finance instead of go for a new loan with all the hoops and down payments?
    What if…you showed them how because of the contigency fund they could get a “lenders letter” that says they were never late or missed a payment for the term of the lease (how do you think that helps their credit?)?
    What if…you showed them how you’re a partner with them to help them achive their “dream” of home ownership and not just some uncaring landlord or RE promoter?
    What if…because you sold all these things up front you never had any defaults or evictions or landlord problems?

    Sorry Scott, just thought I’d add a few more what ifs.

    #21763
    Avatar of sstanton
    sstanton
    Member

    Chill guys. I didn’t ask the “what if ” questions in the beginning and got my donkey burned later.

    This is a place to learn and ask questions, even “what if”.

    I have a few of those to pose myself.

    Stu

    #21764
    Avatar of peter@amakya
    peter@amakya
    Member

    Dave, sadly stuff happens and evictions occure. Have had it happen to me far to often in spite of all the checks. Last one the guy developed something or other and had leg amputed. Not good, but he could no longer make the monthly payments and so on.

    The orignal question was framed in a way suggesting the person has a problem now that he has a court date or something like that

    #21765
    Avatar of scott_l._moyes
    scott_l._moyes
    Participant

    All I’m saying is why worry about evictions if you’ve never done a deal? In over 5 years I’ve only had one eviction in dozens and dozens of deals. The fear of one or even going through one didn’t stop me from doing business. You need to have faith that the “system” works. And I can personally promise you, it does!

    #21766
    Avatar of ericw
    ericw
    Member

    Sorry for the briefness of the question. This was more so a general rental eviction. My moron friend I found out was getting evicted and skipped his court appearance and didn’t know what to do.

    Thanks for the replies though!
    Eric

    #21767
    Avatar of tom
    tom
    Member

    We have the ability in our bill paying service ???Equity Management Service??? to via ACH take the monthly payment directly from the Resident checking account on a date specific and apply it according to the agreement.

    If you want to take advantage of this aspect of the Trustee???s capabilities, just contact Thomas IV and he can set it up for you.

    Using this feature you should reduce and just about eliminate evictions, that is as long as they have funds in the account.

    #21768
    Avatar of ericw
    ericw
    Member

    Well that is good to know. I didn’t know that was an option. I have told a few people I would check into what I could do about direct withdraw from their checking account. No I know ;-)

    #21769
    Avatar of unclejim
    unclejim
    Participant

    @tom wrote:

    We have the ability in our bill paying service ???Equity Management Service??? to via ACH take the monthly payment directly from the Resident checking account on a date specific and apply it according to the agreement.

    If you want to take advantage of this aspect of the Trustee???s capabilities, just contact Thomas IV and he can set it up for you.

    Using this feature you should reduce and just about eliminate evictions, that is as long as they have funds in the account.

    I have a home owner who “calls in” their monthly mortgate payment. I don’t actually know what that means (I should ask). But my question is: Do you also the ability to “electronically” pay the lender?

    #21770
    Avatar of tom
    tom
    Member

    We do not pay out of the contingency fund any money via ACH.

    Have had problems in the past trying to track payments made to investors or beneficiaries and have found it to be difficult at best to determine where the funds went.

    So until I feel the system is perfected all funds paid out will be on regular checks.

    #21771
    Avatar of jerry carey
    jerry carey
    Member

    Hey Guys … Regarding an RB eviction, In the Success Pack, either in the Big Book or on one of the audio CDs … “Bill says he and his wife throw a Parade” and have celebratory dinner with a “bottle of the bubbley”!

    Think about it …The IB has the contribution money to lay-out for the eviction costs and RB replacement costs, which will all be deducted (paid for) later from the RB’s settlement amount. Plus a $2,000. penalty!

    And aint it awful that you get to collect another 5% contribution from a new RB! :D

    Jerry

    #21772
    Avatar of ericw
    ericw
    Member

    Definitely JCAREY! If you are smart you wouldn’t run out and spend all your money is coming in. Whether doing this or not you should always have some sort of buffer if possible incase something unexpected comes up. I am going to just assume that replacement will be necessary and keep the appropriate funds for such a case that I won’t touch. If it is never needed, great but until later down the road when I am a little better well off it makes sense to have those funds available “just in case”.

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