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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] They get the cash after they're loaded Posted by Tom on May 06, 2009 at 1:51 PM In Reply to: Re: Cash for Keys posted by Kristine-CA on May 06, 2009 at 7:30 AM Boy have you learned the hard way, but that's usually the best way in the long run. We would pay up to $3,000 which amounted to roughly 2.5 - 3 x monthly rent for equivalent living accomodations, so I'd say 5 x is rather steep from my experience. I've never heard of any institutional lenders paying that much. We netted out estimated moving expenses, deposits, etc from the cash given to the squatter. We tried all the precautions, as we were usually working with experienced PM. You brought up some good points and I suspect it also depends on how much advice the squatters are getting from Legal Aid, et al and how sympathetic the local courts are. BTW did you see the article in the WSJ yesterday or Monday where a TX bank demolished 19 (?) houses in Victorville because they determined it was the cheapest out vis-a-vis completing the subdivision? Victorville is crying around about it, but with all demands that cities are putting for property maintenace and repairs on lenders I think that cities are getting what they deserve. From experience I can tell you that some cities while technically within the law can make some pretty unreasonable demands given the situations, so I feel some cities have brought this on themselves. Follow Ups: Re: They get the cash after they're loaded Kristine-CA 4:51 PM, 05/07/09 (0) My experience is... Rick, the Probate Guy 7:36 AM, 05/07/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Boy have you learned the hard way, but that's usually the best way in the long run. We would pay up to $3,000 which amounted to roughly 2.5 - 3 x monthly rent for equivalent living accomodations, so I'd say 5 x is rather steep from my experience. I've never heard of any institutional lenders paying that much. We netted out estimated moving expenses, deposits, etc from the cash given to the squatter. We tried all the precautions, as we were usually working with experienced PM. You brought up some good points and I suspect it also depends on how much advice the squatters are getting from Legal Aid, et al and how sympathetic the local courts are. : BTW did you see the article in the WSJ yesterday or Monday where a TX bank demolished 19 (?) houses in Victorville because they determined it was the cheapest out vis-a-vis completing the subdivision? Victorville is crying around about it, but with all demands that cities are putting for property maintenace and repairs on lenders I think that cities are getting what they deserve. From experience I can tell you that some cities while technically within the law can make some pretty unreasonable demands given the situations, so I feel some cities have brought this on themselves. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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