Yea def. interested in an update on this

I promise to do it soon.

maybe very soon...

one dead, disgraced doctor

Being drunk and bored I figure I'll update this.

Very quickly ofc.

Ok, so the medical facility we bought for 5k(the deed transfer actually cost us a few hundred more) at last update I believe I stated we had won the appeal and had set up a meeting with the prior owner.

OFC this guy never showed up. Additionally, it turns out this disgraced former doctor was actually living in this now defunct medical facility.

we at this point are of two minds. It is bad that he lives there as he could (and as history would show) could complicate things. OTOH hey he's living there and will maintain heat and whatnot through winter and after that we'll hit him our action of ejectment and all that and obv win, but at some not inconsiderable legal-cost.

SOME WEEKS LATER:

I get a call one day from my business partner.

"Have you read the newspaper lately?"

"no"

"Dr. xxxx died"

"what?"

"yea, he was at some recycling plant and 3k pounds of paper fell on his head and broke his neck"

"Uh, I guess that's terrible, maybe"

"well, I hate to be happy that someone died, but what's the difference if instead it had been someone in China instead?"

"I see your point"

Now I actually did feel bad about this incident. The guy had 7(!) kids and the picture accompanying the article showed family members crying.

This guy was a disgraced FORMER doctor for a reason. He did prison time for his crimes. I won't get into that though.

After his death , my partner got in touch with his ex-wife and agreed upon a set time for her to enter the premises and remove whatever she wanted. She was very cordial.

In the subsequent weeks while attempting to hire workers for our other properties, this Dr.'s name came up. When we mentioned the medical property as one we'd like work done on, more than one mentioned they'd been approached by the former,then disgraced,now dead doctor, to do "work" on the place.

Apparently he was in the process of hiring ppl to COMPLETEY gut the place.

To paraphrase him according to a potential hire: "They will get the building, but that's all they'll get"

He wanted to tear out the plumbing, wiring, ceilings....just everything.

But now he's dead, and not only did we save legal costs we fully anticipated, but also all the costs we would have incurred had he followed through on his plan.

Great thread. Subscribed.

Never let a previous owner stay in a building you just foreclosed on.

Boot them out as fast as possible and right away.

I really appreciate your hustle, I can't imagine there is not a better avenue for all the work you are putting in. I'm not 100% clear on what is happening though, so I guess I could be wrong. In these markets, there are a quite a few avenues that don't involve dog poop and dead bodies. Amazing thread, good luck! Lucky the doc bit it. Agree with Tien, foreclose and tell them adios pal, hit the road. They are loose canons in there.

It's funny I give the advice and go against it.

I "foreclosed" on a property with the seller still living in it. Only let her stay in there because that's the only way I could get her to hand over her property for her mortgage.

I did boot her out the first chance I got, but I got back a vandalized property + huge bailiff expenses.

I only did this because there was so much money to make.

But if you ever take back a property and don't have any obligation to keep the previous seller, than kick them out ASAP.

Keeping fighting the good fight, OP, but stuff like this is why I'm getting out of REI.

You are certainly stronger than I.