Good morning, everyone! I’m Robert Kelley, and today I’ve got Kristen Gary Saad with me. We’re taking you on a wild ride through some real estate horror stories. These aren’t your everyday mishaps; these are the kind of tales that leave you shaking your head in disbelief. So, grab your coffee, and let’s dive right in.
Meet Kristen: The Real Estate Pro
Kristen wears many hats in the real estate world. She’s deeply involved in lending, focusing on hard money with Bay Mountain Capital. She buys and sells owner-financed mortgages through her company, Capricorn Mortgage Investments. Kristen’s depth of experience means she has seen it all, making her the perfect co-host for today’s horror-filled journey.
The Pleasant Grove Nightmare
Back when Kristen was flipping houses left and right, she came across a seemingly perfect home in Pleasant Grove. She was all set to rent it out, and everything looked fine until the day of the lease signing. What was supposed to be a simple walk-through turned into a horror scene straight out of a nightmare. The back wall of the house was entirely gone, the wiring and HVAC were missing, and to top it off, there were smoldering dog carcasses inside. Yes, you read that right—dog carcasses. It was a gut-wrenching moment that no landlord should ever have to face.
The Flea-Infested Escape
Picture this: a tenant stops paying rent and then disappears without a trace. Kristen went to check on the property, only to be attacked by a swarm of starving fleas. These little pests were so desperate for a meal that they started biting her through her jeans. Kristen ended up stripping in her car to get rid of them. If you’ve ever dealt with fleas, you know how persistent they can be. It took bombing her car to finally get rid of them.
The Blind Conman
This story takes the cake. Kristen rented a house to a man claiming to be legally blind. He even showed up in court wearing dark glasses and using a cane. However, the jig was up when he lifted his glasses to read court documents. The judge was not impressed, and neither were we. But that wasn’t the end. The man and his girlfriend borrowed six dogs and locked them in the house with bags of cheap dog food and tubs of water. The dogs destroyed the property, turning it into a biohazard zone. The cleanup was a nightmare, involving bleach and professional services to restore the house to a livable condition.
Public Service Announcement: Beware of Bandit Signs
Kristen once got caught by animal control while putting up bandit signs. Yes, you heard that right—animal control, not the police. The officer threatened her with hefty fines, but her quick thinking and a silent phone saved the day. She convinced the officer that she was just a hired hand and promised never to do it again.
Arbitrage: Turning the Horrors into Profits
Despite these horror stories, Kristen has successfully navigated the tricky world of real estate. She’s an expert in arbitrage, buying and selling owner-financed mortgage notes for profit. The key is to buy notes, refinance them to make the paper clean, and then sell them at a higher rate. It’s a complex but lucrative business, and Kristen has mastered it.
Wrap-up
Real estate isn’t always about glamorous properties and high-stakes deals; sometimes, it’s about navigating through the unexpected horrors that come your way. Kristen Gary Saad’s experiences highlight the challenges and the resilience required to succeed in this field. From horrifying discoveries to dealing with deceitful tenants and overcoming obstacles, Kristen’s journey is a testament to her expertise and determination.
Her ability to turn even the worst situations into profitable opportunities showcases the true spirit of a real estate professional. So, whether you’re a seasoned investor or just starting, remember that every horror story is a lesson in disguise, and with the right mindset, you can turn any nightmare into a success story.
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