Rentals: Maximizing Cashflow

[don]

no calculator necessary in this approach to income property investing . . .



A former real estate agent has been arrested for allegedly taking over foreclosed homes in Contra Costa County that weren’t his and renting them out to unsuspecting tenants, authorities said. Alfonso Salazar, 62, a Martinez resident, is accused of moving in on foreclosed homes, having the locks changed and renting them out to tenants who didn’t realize he didn’t own the properties, prosecutor Ken McCormick said.

Salazar’s scheme involved at least 20 properties in Walnut Creek, Brentwood, Antioch and Hercules, authorities said.

Prosecutors filed charges against Salazar on Friday, but didn’t know where he lived. But when investigators were searching one of the Brentwood properties for evidence later that day, they got a big surprise.

“Lo and behold, (Salazar) rolled right up” and was arrested, McCormick said.

Salazar allegedly posted signs on foreclosed properties telling the owners that unless they objected, the homes would be taken over by the National Alliance of Homeowners for Justice, a Southern California mortgage counseling organization with which he was employed.

If he didn’t get a response, Salazar had the locks changed and posted the properties for rent on Craigslist, McCormick said.

Salazar used his status as a former licensed real estate agent to appear legitimate to potential tenants. His license expired in 2011.

“Any con man is charming and gregarious, and this guy is a professional,” McCormick said. “People felt confident in renting from him.”

http://blog.sfgate.com/crime/2012/02...n-homes/?tsp=1

[don]

Re: Rentals: Maximizing Cashflow

we can be your buyer's agent because we can get you what you want . . . and more importantly we get them more than what they want . . . we get them what they can't get . . .and we know what they can't get . . . .

Is Ron available for an update of Death of a Salesman?

[cjppjc]

Re: Rentals: Maximizing Cashflow

no calculator necessary in this approach to income property investing . . .



A former real estate agent has been arrested for allegedly taking over foreclosed homes in Contra Costa County that weren’t his and renting them out to unsuspecting tenants, authorities said. Alfonso Salazar, 62, a Martinez resident, is accused of moving in on foreclosed homes, having the locks changed and renting them out to tenants who didn’t realize he didn’t own the properties, prosecutor Ken McCormick said.

Salazar’s scheme involved at least 20 properties in Walnut Creek, Brentwood, Antioch and Hercules, authorities said.

Prosecutors filed charges against Salazar on Friday, but didn’t know where he lived. But when investigators were searching one of the Brentwood properties for evidence later that day, they got a big surprise.

“Lo and behold, (Salazar) rolled right up” and was arrested, McCormick said.

Salazar allegedly posted signs on foreclosed properties telling the owners that unless they objected, the homes would be taken over by the National Alliance of Homeowners for Justice, a Southern California mortgage counseling organization with which he was employed.

If he didn’t get a response, Salazar had the locks changed and posted the properties for rent on Craigslist, McCormick said.

Salazar used his status as a former licensed real estate agent to appear legitimate to potential tenants. His license expired in 2011.

“Any con man is charming and gregarious, and this guy is a professional,” McCormick said. “People felt confident in renting from him.”

http://blog.sfgate.com/crime/2012/02...n-homes/?tsp=1

This is not uncommon at all. Nosey neighbors are a good thing sometimes.

[wayiwalk]

Re: Rentals: Maximizing Cashflow

at an abandoned superfund site I was involved with recently, there was a business using the premises for storing their equipment/supplies. They left before work started, but I had to wonder if they were paying anyone rent anywhere.....I asked, not surprisingly, they didn't not give me an useful answer.

[cjppjc]

Re: Rentals: Maximizing Cashflow

at an abandoned superfund site I was involved with recently, there was a business using the premises for storing their equipment/supplies. They left before work started, but I had to wonder if they were paying anyone rent anywhere.....I asked, not surprisingly, they didn't not give me an useful answer.

Lol. I think I know where that is. Walking distance from Route 23?

[flintlock]

Re: Rentals: Maximizing Cashflow

we can be your buyer's agent because we can get you what you want . . . and more importantly we get them more than what they want . . . we get them what they can't get . . .and we know what they can't get . . . .

Is Ron available for an update of Death of a Salesman?

Not only a RE agency, but construction company too! Is there anything a RE agent says he cannot do?!!! I know some who'll swear they can turn water into wine.