All Forum Posts by: Ben S.

@Luciano A. Man this is why I love BiggerPockets forum!  All of the great advice that I get from everyone!  This is incredibly helpful!  I use the TenantCloud app to manage my rentals and they have an option to send a notice to the tenants that would require their signature and let me know if they viewed it or not.  So I plan on sending the notice via that app. Makes it super quick and easy to do and definitely official so they know I mean business.

Originally posted by @Bruce Woodruff:

Forget the main topic of this thread. Your takeaway has GOT to be this.....tenants do not demand anything. Ever.

If you can't wrap your head around that then sell and go do something else. The risks are too high for you.

And this is a no-brainer. The answer is "no, I will not test it, and no, you will not either." Put it in writing and make them sign it.

This is great advice, and I definitely plan to follow it!  I'm consulting with legal to ensure I'm not breaking any laws.  But I plan to get it in writing that I will not and they will not test for meth.

Originally posted by @Jaquetta T Ragland:

@Ben Spader if the test comes back positive, what will they do? Move out, file a lawsuit...what’s the point of the test is what I’m trying to figure out?

So they say they would like to have a baby and want to be sure, but honestly, I can't trust that this is true based on other actions they have taken against the previous tenant when moving in.  They are threatening legal action in other issues because they feel they are treated unfairly which isn't true at all.

@Patricia Steiner Thank you! That's what I needed!  I have done some research on it and found in many cases they actually have to have my consent to test for meth and without that, they can not test.  So I plan to take the hard-line with them just as you laid out. 

@Greg M. Thank you also, I really appreciate this.  I had brought this up with my realtor that I use for rentals in a different area and she gave me the link for home testing and basically said I have to do it and don't have a choice so I'm very glad to hear from others it's actually not like that at all!

@Greg M. I would like to tell them they can pay for a test themselves, but then what happens if it comes back positive?  I fear that my investment would lose a lot of its value. 

I've attempted to tell them no and they won't accept that answer I've also tried the happy clause and they love the place and don't want to move out.  So now I seem to be stuck with them testing it on their own and potentially having it blow up on me.

@Will Gaston I wish that was possible... I just started a 1-year lease with them and I can't just cancel it right away without possible legal ramifications.

I just purchased a duplex about 3 months ago and recently had the lower tenant move out because I raised rent higher than she could afford.  That said the new people moved in and they are demanding that I test the property for meth because they say the previous tenant's boyfriend is in jail for meth dealing.  Also the back door has some burns on it that "could" be chemical burns.  Otherwise the property is in really good condition.  The upper unit was where the previous owner lived. I have a hard time believing that the lower tenant had a meth lab with the owner living above and him not knowing. 

Anyway, I need suggestions on how to handle this!  I have never had a tenant demand the house be tested for meth.

I have an interesting opportunity to co-sign on a property that has been rented out via Airbnb and Weddings.  The downpayment of 125K will be donated.  It is a 500K house.  So they are asking for someone to take on the 375K note and put it in their name.  A woman lives there and runs all of the operations for the Airbnb and Weddings.  So the question is what should I expect in return to put this note in my name?  What should I look out for?

I am selling a rental that will get me about 120K in proceeds that I intend to use to purchase another rental property using a 1031 tax exchange so I don't have to pay capital gains.

So far I have found a duplex for 250K that will need about 52K in a down payment.  That said the buying market is super hard to find good deals that fit my criteria right now. 

So should I just dump all 120K into the down payment on that property.  Then use leverage the extra equity that I have in that property to purchase another rental without a requirement to purchase within 180 days?  Or is that not a good idea? 

My lender is actually the one that suggested doing this and they do it all of the time.  So it seems pretty logical just wanted to reach out here to see what other think about that.  I would hate to have to pay taxes on 70K if I can't find another property.

Thank you all!

Could I get some recommendations on people to work with to sell on of my rental properties?  I think I need a real-estate attorney to help me go through the process and get the paper work right.  I'm thinking that I may end up doing a 1031 exchange also.  

I believe I have found a buyer and will need to start this process early next week.  Any suggestions?  The property is in Wisconsin but I live in Minnesota near the twin cities.

Thank you in advance for any recommendations!