All Forum Posts by: Andrea Bailey

Thank you everyone for the replies. We were able to resolve the hot water heater issue in less than 36 hours and I offered to pro-rate the rent for one and a half days. They actually declined, were so appreciative that we took care of everything so fast— said they would be happy to pay full rent on the 1st. I’m just glad the carbon monoxide detectors were working, it could have been very bad. Everyone make sure you have them installed and functional. Thanks again!

Our tenants just moved in to a fully renovated B+ property and during the renovation the gas hot water heater was jarred loose and unknown to us started leaking. When they started using a lot of hot water (shower, laundry etc) the Carbon Monoxide detector went off. Gas company came and shut it off and the tenants won’t have hot water for 24-48 hours. They have everything else. Should I (or am I required to) put them up in a hotel? Thanks in advance!

These are all amazing and helpful replies-- thanks so much. The seller has agreed to pay rent (somewhat elevated) and gave us a move out date of between Aug 1-15th. I asked for all of August rent up front, pro-rated to the day they move out. They agreed. Is there anything I should put in the agreement about damages/stuff left behind? The house is a disgustingly dirty and we are going to completely rehab it.

Any trouble collecting the premium rent? This lady is saying she has no money. It's such a crazy story but she sold the house along with her son/step son who was a rep of the husband's estate. So she is trying to move in to low-income housing and is waiting for an "appointment ". (This is based on what little info we have). We did tell her that we needed a rent check & extension of the agreement by the end of the day, or the keys. But all communications are through her agent so still waiting to hear back. Also, since docs were signed all around and it went into escrow and we got a closing date we have been driving by the property. Not only have they NOT moved anything, they've added two satellite dishes, a broken down motorcycle, lawn chairs, and kids toys/scooters to the property. There is absolutely no sign of anyone preparing to move. I have contacted a real estate attorney but would love any additional advice/thoughts!

I looked all through the forums and didn't find anything similar to the situation that we are in: We closed on a property on 6/30, the sellers negotiated 10 extra days of possession of the home because their next residence wasn't ready. The real estate co has a short term lease agreement that all parties signed to allow for them to stay. Wednesday of last (7/5) week my Realtor got a message asking if they could stay until August 1st, which we declined because we have contractors lined up all this week. This morning (day we are supposed to get the keys) my agent gets a message saying they won't be able to leave for "at least a week". These are the SELLERS -- they have our money and the house! Has anyone ever had this? Any advice? Thanks in advance!

Thank You @TomOtt ... including water in the rent has worked great. I'm with @UreilSanchez and @GarthGissel. A little extra once per year is ok if the tenants are keeping the property nice. 

All of our friends know we are RE investors and always  ask how it's going. "We are so lucky" I find myself saying.  Our tenants have been near-perfect and our experience has been so positive. It isn't luck though. I really should stop saying that.  Using the strategies I've learned from BP and the podcasts is our 'unfair advantage' for sure. ❤️😊Andrea

@BrandonTurner... I was just listening to podcast122 w @ChrisClothier and you guys were talking about pros and cons regarding evicting someone for not paying the water bill. I was wondering... Why not just advertise your rentals "water included"? We have the same regulations in my area and we will tack on $60 to the monthly rent and advertise water/sewer/gas included. Is this against the rules? Anyway loved the show as usual.

Does anyone adjust the monthly maintenance allotment for a property that has been fully rehabbed? I am looking at a property that is in excellent condition, fewer than $500 needed in repairs, just minor fixes for a backyard fence. The house was built in 1999. Thanks!!

Joshua Dorkin & @BrandonTurner you guys killed it today in podcast 108 with Grant Cardone. Super motivating, inspirational, one word: awesome. By the way can you leave iTunes reviews /feedback from your iphone? I can't see where to do it.

Martin Scherer I live in Cda and we will be buying our first investment property in the next few months. I would love to pick your brain! Andrea :)