All Forum Posts by: Bryan M.

Thanks for all the good advice. I'm weighing the collections vs court because I'm under contract to sell the duplex later this month. I'm making good profit on the sale, even if I have to eat the $6K. I've never dealt with small claims court so I'm not sure if I even want to deal with the hassle. Thanks again!

Good advice, @Joe Splitrock. Thank you. Can I still send them to collections if they never receive the initial notice and bill - if I decide to go that route?

My tenants moved out of one of my rentals leaving a mess and a German Cockroach infestation. I have incurred around $6K in expenses getting the place back to normal. I have sent the Deposit Disposition with documentation of what they owe via Certified Mail w/Return Receipt. The post office has been trying for a week to get it delivered but has failed. First time the reason was, "Unable to access delivery location", second time, "Unable to deliver due to animal interference". I know I have 45 days to get them the bill which I have 10 days left. If the post office gives up and returns the DD back to me what do I do? Are there any alternatives that are accepted by courts to get it delivered? Thanks!

My leases state the rent must be "received" by the 5th. 

I've tried to get them on ACH but that's been a struggle. It's crazy how a piece of mail addressed to the same city takes 2 weeks.

Is anyone else having their rent checks delayed in the mail? One tenant who has pre-addressed and pre-stamped envelopes from me has had their checks delayed multiple times. One time it took 2 weeks. The postmark was dated the 1st and I received it on the 14th. I just acquired a new rental and they said they mailed their rent on the 1st of this month and it still has not arrived. If this is happening to you, how are you handling late fees seeing as it's known the post office is super slow now and that's not the tenant's fault? Thanks!

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Hey guys. I have an opportunity to purchase this property that is currently starting a new 2 year lease with a community nonprofit. They have leased this property for the past 6 years. A couple things about the numbers. 

- My bank allows me to borrow 100% of the purchase and roll in closing costs and fees. I do not need to layout any cash.

- I have set the vacancy rate at 0% because there is a very small chance this property will be vacated in the future. This organization is actively searching for more properties in the area. There is plenty of need. 

- Management is 0% because I will manage.

- Current owner is a personal friend and has had zero issues with late rent or tenant issues for as long as he's owned it. 

This is my first time using the calculator to make a buying decision so I wanted to see what you guys thought on my results.

Thanks!

*This link comes directly from our calculators, based on information input by the member who posted.

I'm working on designing my next project and need some advice on the configuration. It is currently a 4/2 Cape Cod style home built in the 1940's. There are 2 bedrooms and a bathroom on the main level and 2 bedrooms and a bath on the upper level. The main level bath is adjacent to the smaller of the 2 bedrooms. The bathroom is VERY small. Barely enough room to turn around with a small vanity that only allows for a sink. The bathroom on the upper level is also very small and due to the roof line you are not able to have a shower, only a tub. 

This project is a flip so I'm looking for marketability and top dollar. What's your opinion on blowing out the wall between the 2 bedrooms on the main level and making one large master suite with a decent size bathroom? I'm also looking for a way to bring the laundry from the basement to the main level. This bathroom could also have laundry. 

The basement is unfinished and could potentially be semi finished by adding a bedroom but now we are pushing the budget too far I think.

All thoughts welcome.

Thanks.

@Justin Robert

Thanks, calling them in the morning!

@Bill O'Donnell I've worked in the insurance industry and have only dealt with TAPCO and Loyds of London for surplus lines. Do you have any carriers you can think of that I can reach out to? Thanks.

@Jonathan Watt Well put. Thank you. It’s hard to see a child living in a filthy situation where the caregivers don’t seem to care. All under the roof you own.