All Forum Posts by: Christopher Wand

I believe you're going to need to focus on your subject matter. There isn't a specific way to make this known on the MLS via check boxes but, if your listing yourself you could post it as a duplex for an initial time which will market it to people looking for multiple units. Otherwise focusing on an single sentence in the beginning of the message body may do you the most good. Hope those options help.

The area around the base is building up so West shore/ Interbay may not be a bad place to look. Seminole heights is gaining in popularity also. As far as specifically around UT and south Tampa your best bet may be to drive and knock on the doors... Its definitely a hot market currently and finding a nice deal has a bit of leg work. 

I'm finishing a duplex on the other side of US 41. 

Good luck and let me know if you want to meetup and have a look around.

@Scott Schultz

Sorry about misleading the well problem. I need to filter out problems in the water. Heavy iron, sulfur, and tannins. The price I've received was for a filtration system.

Septic system is failing mostly because of the water table. The drain field has been damaged by trees but, I'm limping along currently. I just don't want to lose a tenant and then start construction and then try and perform the repair while attempting to relist.

@Nicholas W.

I'm kind of thinking you're correct. I probably just need to look further for financing. Currently I've been looking for cheapest.

The water filtration system I need I know I can finance. The septic is what I'm more concerned about.

Thanks for the input. I probably just need to continue searching. I'm running out of time though...

@Robert Berganza

No, the sanitary lines and water lines are literally less than a 1000 yards down. I've called for pricing on both to extend and they were something ridiculous $20,000 for each. 

The pricing for the well I should of been more specific. The cost is to treat the water, heavy iron and sulfur. The cost is for a water softener and filter system.

I might try and be a little tricky if you are really nervous. Depending on how you have their rents and deposits setup...

If you have something like $1200/ month rent. $1200 deposit.

I'd explain to tenant A and his new tenant you need to collect a separate deposit from them so you can release the previous due to different tenants.

You would also collect the first months rent from the new set of tenants.

Overall this would make you cash heavy and put a huge "personal responsibility on Tenant A" to help make this transition occur because he would have possibly $600-$1200 coming back to him depending on who covered the deposit and last months rent. 

I'll try and follow up with you late in June to find out how this turns out. Probably worrying for nothing. 

-Good Luck,

That does seem tricky... Is it viable to put it on the market and have others look at the property? it may be simpler to replace them both... Or maybe this will be the best way to scare Tenant B to know you mean business.

Out of curiosity, if the lease ends in June why would you need any release forms? Why not just end that lease agreement and execute a new one with Tenant A & "X"? That way there wouldn't be any paperwork on Tenant B just a notice to not renew. This may resolve the legal issues and move a lot of the problems onto Tenant A & B aka "friends" but, remove you from the equation.

So a little back story before this question and I'm hoping I can get some ideas on how to resolve it.

I've purchased a duplex property on well and septic.

$89,500

2/1 800sf & studio/1 400sf.

(Terrible buy in and a bad deal situation that I should of walked away from when the previous owner wouldn't negotiate at all.) That being said, it's mine and I own it now. We finished the interior renovation and cleaned up the exterior for the most part. I assumed we would have another year on the septic and well before needing anything major.

The studio brings in $650 currently and the front unit I'm staying in.

I 've spoken to a couple septic guys and water guys. The septic system needs to be replaced because of the water table in our location and the damaged drain field. The well water needs to be treated for the sulfur and Iron content to really make it useable. All in these items are respectively $8,200 septic and $6,000 for the water.

I'm tapped out... I have $5,000 left on my line of credit and I need options. I'm scared of going for an ARV appraisal this soon because I didn't pull permits for the interior work and in this county it may be big negative.

I own a townhome that I've been wanting to unload but, currently cashflows so I haven't really done anything with it.

Any ideas would be great. I feel like I'm leveraged up and I'm concerned about more unbacked credit and paying it off.

Good Morning,

I know I'm late to this post but, I did want to ask if you ended up renting to them and if you did 1 more counter maybe extending to 4 years with a rent increase to market level?

Hope you're doing well in the area.

Congrats on the Reno going so smoothly. So far I've not had the best luck with my handymen...

Glad you're finding good ones in Lafayette.