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Renting a house?
- Thread starter clp
- Start date
beejium
Member
My buddy has a place on a land trust. From what i understand is that it's similar to owning... there is still a mortgage and all that jazz. He pays a mortgage like i do, but when he dies the property goes back to the orrigional owner/corp. It's a contract like everything in life. Make sure you get some sort of legal represantation to help with the paperwork, just to make sure there is nothing hiding on you.
that was the orig. intent....kinda like the r.i.c.o. act was just supposed to be about the mob.
or the p.a.t.r.i.o.t. act was just about terrorists
bobbyjames
New member
My buddy has a spot he rents, runs 6k in a 3br, but doesn't use much power otherwise, his electric bill is the same as it was at his last house with no grow. He likes the property management deal, They're really easy to deal with.
Have cameras looking anywhere you want but IN the grow. You don't want to broadcast your growroom on the internet.
No one gives a fuck how you pay your bills, do em with a money order.
My buddy has a 2nd set of ID, so the spot is in his other name, but that is just in case he has to make a quick getaway.
Be 'cordial' with the neighbors. Friendly but not too friendly, you don't want invites over for the family BBQ.
You need 6 months worth of money put away BESIDES the setup. If you're starting from seeds you're gonna do one run just to dial in the room and find moms, you won't get efficient until the 2nd run at the least. the 10k is probably gonna cover your equipment- thats about it. Double that number or you're gonna be stressing the fuck out about money.
You have to be there sometimes, or tell people you have a girlfriend you live with mostly or whatever. My buddy just tries to have a good reason why he's only home a little bit. His wife booted him so he's really living there now....poor guy.
Don't let people tell you you can't do something. Make it happen. I've told you some obstacles so you know what you'll be facing, but people do this shit all the time. Make sure you know someone to push the weight to though...you don't wanna be growing LBs and slanging quarters, that is how people get busted. I think growing is safer than sales as far as in the biz, you just have to think ahead and be smart. If you don't already have a custy, you need to forget this and grow in your closet, or start buying herb, you're gonna get desperate if you have all this pot and no one to take it from you.
Have cameras looking anywhere you want but IN the grow. You don't want to broadcast your growroom on the internet.
No one gives a fuck how you pay your bills, do em with a money order.
My buddy has a 2nd set of ID, so the spot is in his other name, but that is just in case he has to make a quick getaway.
Be 'cordial' with the neighbors. Friendly but not too friendly, you don't want invites over for the family BBQ.
You need 6 months worth of money put away BESIDES the setup. If you're starting from seeds you're gonna do one run just to dial in the room and find moms, you won't get efficient until the 2nd run at the least. the 10k is probably gonna cover your equipment- thats about it. Double that number or you're gonna be stressing the fuck out about money.
You have to be there sometimes, or tell people you have a girlfriend you live with mostly or whatever. My buddy just tries to have a good reason why he's only home a little bit. His wife booted him so he's really living there now....poor guy.
Don't let people tell you you can't do something. Make it happen. I've told you some obstacles so you know what you'll be facing, but people do this shit all the time. Make sure you know someone to push the weight to though...you don't wanna be growing LBs and slanging quarters, that is how people get busted. I think growing is safer than sales as far as in the biz, you just have to think ahead and be smart. If you don't already have a custy, you need to forget this and grow in your closet, or start buying herb, you're gonna get desperate if you have all this pot and no one to take it from you.
What I am saying is if you do your homework, you can buy a house cheaper than you can rent and have the security of no landlord.
The land trust and subject 2 are two different aspects. Subject 2 is how you finance, basically take over payments.
Land trust is how you actually own the property.
I had legal ownership, had built two rooms, and had plants in before I ever made my first payment. The mortgage was current when I took over. If I had too, I would have just not paid the mortgage for two months, I would have had a harvest, then brought it current.
It takes a lender around 3 months of no payments before they even blink. Plenty of time to get a crop in, harvested and sold if planned right and you are not lazy. A LL would have started eviction after two weeks of non-payment.
A land trust is more of an estate planning tool. The property belongs to the trust, and control of the trust can be transferred any time to anybody.
There is a clause in the mortgage that says when the property changes ownership, the lender CAN (can, not MUST) call the mortgage due. It is called a "due on sale clause". In this market, NO lender will enforce this clause on a performing loan. When you put the property into a trust, the bank has no idea who owns it and there is a federal law that says the lenders can NOT enforce the due on sale clause when put in a trust.
Nobody can find out who controls the trust w/o a subpoena. The bank has no justification for a subpoena. So if the trust is labeled "123 mary jane avenue" The owner is "123 mary jane avenue" The bank thinks nothing of it if they ever look into it or when they see tax bills etc.
Two reasons as a grower for the trust. First the bank. like I said banks do not want properties back, but in the .0001 % chance they raise a stink, you are covered because the house was put in a trust which is allowed and protected by federal law. SECOND, is if you get busted driving, selling etc, and they run your name, no houses will come up that you own because the trust owns the home. You also have to do something with electric, water, utilities, etc
I am thinking of starting a thread and explaining this in detail. maybe tomorrow
clp
Member
Yes so do I, I will definetly need a plan, I will have numbers of rental places + lawyer saved and have a plan of action
That sounds perfect! Will definetly look into a lawyer unless I think I can figure it out. I'd rather not pay the money, but I want to be as safe/secure as possible..
RICKY_BOBBY
New member
.. .. ..
...and you can smell it down the block
clp
Member
Not if you seal an entire bedroom and either run CO2 with recirculating filter or just vent it all out through a filter
Well, I know I've learned a thing or two.
Sheep In Shoes
Member
Let's assume you find a absentee landlord you never see and a perfect rental house. You do all the right things and no one knows a thing.
Now you have to keep an eye on your landlord i.e, making sure he pays his mortgage, taxes on the house, and homeowner association fees, insurances, his last utility bills lawn care, and any and all other financial obligations on the house.
Especially if he defaults on his mortgage, in 90 days or so you could have the local law show up with am immediate evicxtion notice. Like, NOW.
This is by far your WORST case scenario. The local law showing up without notice and with a evict now decree.
Solution? Watch the foreclosures in public notices, get a foreclosure notice website and pay them to hunt preforeclosures (Lis Pendens Notice), tax liens, workmen's liens, etc and notify you by email.
Remember, 1 in 5 homes is or will be foreclosed. Of those, 1 in 5 will be people who can easily pay their household expenses but refuse to do so. A wealthy landlord iis no guarantee of continued ownership.
Now you have to keep an eye on your landlord i.e, making sure he pays his mortgage, taxes on the house, and homeowner association fees, insurances, his last utility bills lawn care, and any and all other financial obligations on the house.
Especially if he defaults on his mortgage, in 90 days or so you could have the local law show up with am immediate evicxtion notice. Like, NOW.
This is by far your WORST case scenario. The local law showing up without notice and with a evict now decree.
Solution? Watch the foreclosures in public notices, get a foreclosure notice website and pay them to hunt preforeclosures (Lis Pendens Notice), tax liens, workmen's liens, etc and notify you by email.
Remember, 1 in 5 homes is or will be foreclosed. Of those, 1 in 5 will be people who can easily pay their household expenses but refuse to do so. A wealthy landlord iis no guarantee of continued ownership.
look around lots of good stuff around.
I just bought a trialor on about 5 acres on land riduculiously cheap!!! needs some work, but i think i'm safer here than in an apt. oh yea it's only 10 mins to the nearest town and 15 mins to the nearest hospital. gotta go for now, going to play outside
Listen to this!!!
A friend of mine recently bought a trailer for 3000 dollars, in canada. I went looking and in the many trailer parks around here there were dozens of trailers for $8000 or less.
Think about that. A house is going to cost you at least $800 a month, so that is only 10 months rent, and a trailer of $3200 is only 4 months rent.
Granted, if you live in a park you have to pay lot fees, like $200 a month, but the good thing about it all is that when you are done you can either sell it or rent it out to pay you lot rent and make a few bucks. Worst case sell it for scrap or tear it down. In a year you will easily make the money you invested.
Edit - I forgot to mention that those big rental companies usually have inspections at least once a year if not twice, to check out fire alarms, sprinklers, etc. The trailer is the way to go, and the best thing is to look for one on it's own land so you don't have to pay lot rent.
The rental companies will give you notice if they are coming. If you can't afford to chop a round early you need to rethink your plan. And how much can you feasibly do in a trailer. My grow room is bigger than a trailer(I don't use it all). I don't know how you could grow any substantial amount in a trailer?
The companies only need to give 24 hours notice around here, and in fact the law enforcement have been cheating by bringing in the fire inspectors and doing inspections on the spot, with no warning. Now I have read an article that said some judge ruled this was wrong and they couldnt do it it, but it did not stop the BC police from doing it for the past 5 years or so.
Anyways when I say trailer I don't mean something like this:
I mean something that is 15+ feet wide and 40+ feet long, I guess mobile home is the more accurate term:
If you can't get any kind of quantity from that, well i think you're doing it wrong, or you grow soooo big, well wanna be my friend?
. You could easily light that up with 10K in lights.Peace!
I like the trailer idea
