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All Forum Posts by: Brian Johnson

Brian Johnson has started 8 posts and replied 223 times.

Post: Tenant moves in and the 2nd day wants out of lease!

Brian JohnsonPosted
  • Rental Property Investor
  • Oldsmar, FL
  • Posts 238
  • Votes 61
Originally posted by @Nancy Curran:

I'm not sure you can evict tenants for complaining and or not liking cabinets. Is the mother a tenant? If not, who cares what she thinks. Didn't just the son sign the lease? In any case, give them a 5 day notice demand of payment. If they don't pay, you can easily evict on non payment. Don't even get involved in who threatened who. So for an easy non payment eviction, those are clear cut cases and you don't really need an attorney. They have to pay or they can't stay--judges know this.

 I like you idea Nancy.  So demand the rest of the money.  If they don't pay I already have the 7 day notice in action.  If they do deal with the son and avoid the mother while keeping a close eye on my unit.

Post: Tenant moves in and the 2nd day wants out of lease!

Brian JohnsonPosted
  • Rental Property Investor
  • Oldsmar, FL
  • Posts 238
  • Votes 61
Originally posted by @Bill S.:

All I can say is a saying I once heard. Any time to have a conversation with this guy keep telling yourself this. "See tenant's lips moving, see tenant lying ."

Swiftly and quickly proceed with eviction. You may want to hire the best landlord attorney you can find in your town. Check court records find the firm that does most of the evictions in your area. Hire them even if they are the most expensive. Time to bring your Sherman Tank to this gun fight.

 That sounds very good but why do you think I need a attorney?   

I contacted the son and told him that I can give him to the end of the month to move out.  I will write up a lease termination letter and get him to sign it.  This will put the date of the exact move out.  This will give him enough time to move out and buy me some time to cover my bases.  This seems to be the cheapest and easiest way out.  If I go thru the 7 day notice I am not sure if they can find a place to stay in such short time plus the extra $800 or $1000 (depending on area of town) to move.  I told him I do not want to deal with his mother and I will only talk with him.   

Post: Tenant moves in and the 2nd day wants out of lease!

Brian JohnsonPosted
  • Rental Property Investor
  • Oldsmar, FL
  • Posts 238
  • Votes 61

Well,  I was going to collect the rest that day but got distracted with all the drama.  I needed to take a few steps back with the issue.  

So if I can get them to agree to stay for a agreed short term like 1 month or 2.  Should I ask for the full amount due.  Then if they don't give it to me.  Can I not give them the 7 day notice and file eviction for not paying what is due?  That will be breach of contract.

Post: Tenant moves in and the 2nd day wants out of lease!

Brian JohnsonPosted
  • Rental Property Investor
  • Oldsmar, FL
  • Posts 238
  • Votes 61

Thank you for posting.  Yes that was a very bad move on my part.  I made some very bad judgement calls.  This is a mistake I don't want to make again.  

Post: Tenant moves in and the 2nd day wants out of lease!

Brian JohnsonPosted
  • Rental Property Investor
  • Oldsmar, FL
  • Posts 238
  • Votes 61

So I find a tenant that appears to be pretty level headed. He works and takes care of his disabled mother. So we walk thru the unit and he likes it and wants to rent it. So make a long story short we sign the lease and I give him the key and he starts moving in. The next day I start getting these text messages complaining about little things. I tell them that I will be over the next day and take care of anything they need and to make a list so I can check them off. So the next day I come over and they have the refrigerator pulled out along with the stove saying it is dirty behind them. They also mentioned a couple other things. So I have my tool box and start on making the adjustments.

From the lease signing and texting I have never met the mother until I walk the door to do the repairs that next day. When I first meet her she starts complaining about the cabinets been to outdated and ugly I tell her they are old but they are functional. Then she talks about the floor in the living room. She tells me “do you know these are not real wood and that you can't say they are real wood?” I tell her I never said they are real wood. So at that point I try to avoid her and make the repairs but she keeps barking in my ear about the cabinets being to outdated and that she can't live with this. Then she comes out with this craziness that really makes my blood boil and is the breaking point for me. She said that they want out of the lease if I don't replace the cabinets and they will sue me in court. (she said she knows a judge) So I stop doing the repairs and pack my stuff up. I tell her I will be happy for them to move out and to please go. We have some words with each other and I leave.

I fill a 7 day notice and text the son to come out so I can hand him the 7 day notice. He tells me he is sorry and his mom is on lots of meds. He also tells me that they used all the money they had to pay me and move into this unit. I tell him that is not my problem and she should have thought about that before threatening me. I tell him that I will give him some of the rent back depend on how fast they can move out. The less days they stay the less it cost them for the rent per day. He also did not pay me the other half of the deposit which I was going to collect that day upon agreed when he got payed that day.

So after all this did I forget any steps to start the legal system? Should I come up with a lease termination letter and make him sign it. Keep in mind that He did not give me all the agreed amount of money. He is on the lease she did not sign it. As we are talking about it he is desperate in trying to talk me out of it. He is getting emotional and starts telling me he got a letter last night that the company he works for might lay him off. So I am thinking WOW!! How did I screw up so bad on this screening process??

I need some advice on this very unusual situation that I have never encountered.  Did I say this is crazy?

Post: Ramsey vs Kiyosaki - To borrow, or not to borrow?

Brian JohnsonPosted
  • Rental Property Investor
  • Oldsmar, FL
  • Posts 238
  • Votes 61

I am a big fan of RK and I do think DR is great to keep your personal debt in control.  RK is more business focus which is why I focus more on his approach.  Love how he makes it simple story approach.  I have yet to make it into the buisness quadrant.  

Post: How Do I Refinance Out of 10 Properties?

Brian JohnsonPosted
  • Rental Property Investor
  • Oldsmar, FL
  • Posts 238
  • Votes 61
Originally posted by @Mike F.:
Originally posted by @Evan McMullin:



Also, if this is the case, why don't more investors get 4 properties, refinance, acquire 4 more, refinance, and repeat. They could get 40+ instead of 10.

Because if you buy 4, refinance and buy 4 more, you have 8, and the limit is 4 mortgages.

 Mike is correct.  I am referring to residential loan.  I spoke with Aimloan and they said they will carry up to 10 loans.

 I believe the Fannie Mae and Freddie Mac standard are set at 4 loans.  Most investors have to go into commercial loans once you tap out all the residential loan resources.

Post: How Do I Refinance Out of 10 Properties?

Brian JohnsonPosted
  • Rental Property Investor
  • Oldsmar, FL
  • Posts 238
  • Votes 61

I had the same problem with 5 mortgages.  For traditional banks the magic number is 4.  Once I sold one of my properties I have not had any problems. (Knock on wood) 

Perhaps call quicken loans or maybe Aimloan to see if they will.  Don't put any money down for appraisals until it is in writing that the loan is approved.  I have read that portfolio Leanders are a good source but I have never contacted one.  Sorry I am not much help.  I just wanted to express what I went through.  I tried 3 times to refi with 5 units and was unable to until I sold one. On the 3rd try I had Greanlight loans (online service part of Nationstar) approve me but would not let me do a 20yr.  They said my debt to income ratio was not to new standard.

Post: Florida Real Estate License

Brian JohnsonPosted
  • Rental Property Investor
  • Oldsmar, FL
  • Posts 238
  • Votes 61

thanks for the input.  My situation is different.  I have not moved to Florida yet.  I wanted to do the class before the move.  My intention is to study all the way up to the move and once I move then take the test.

Post: Tiny home development

Brian JohnsonPosted
  • Rental Property Investor
  • Oldsmar, FL
  • Posts 238
  • Votes 61

very good post Bill. Thank you for giving me the nuts and bolts of this topic.