All Forum Posts by: Christine Kankowski

Yes, I think letting them know the circumstances and changing the locks is your best bet.

NIce!

I read that article too and that is why I absolutely require someone have good credit to rent my properties.  Sometimes people have a sad story (I'm sure at time some are true and some are not) but unless they have a proven good credit rating and good employment, they will not rent a house from me.  Sorry.

I have had problems with people whom I have given a break to, but I've never had a problem with someone with good credit.  Someone with good credit will find a way to pay their rent.  

Our company has an excellent track record for on time rent payments, and I know it is because we are not afraid to say no to people with marginal credit.

If no one rented to these people who have been evicted in the past, they woudl have a much harder time finding a home in our state...  

I guess it really depends on what the damage is:  for example if the walls are in need of repainting, after 9 years... it should be done regardless, i would not charge tenant.

If there are holes in the walls and need significant drywall repair, charge tenant.

If they didnt report a roof leak, and not the damage is $2000, instead of $200 to fix the roof, because now there is mold 2 years later, I thin you can charge them some of that.

The key is to make sure you have everything documented.  Bring out the pictures from when you bought the place as your basis of the condition o the property (unless the prior owner provided with a move-in inspection)

Dirt and or broken is not wear and tear, but carpet & paint will wear over time, so that would be owner responsibilty. 

If the first person applied first and qualifies nicely, go with that person.  Bleeding heart will make you feel sad for that first person too if you deny them...

Once they accept, let the 2nd person know the prior application was approved and since you didnt process her application you are refunding the application fee. 

This is a business, and you have to treat it as such...

Hi Kris,

You have the right idea.  I started the same way you did.  Jumping in for my first one was the biggest hurdle.  Once I did that, and saw that the tenant was paying my mortgage and more, it really motivated me to save and save for the next one.

I am local here to Temecula/ Murrieta as well and am very happy with my properties here.  Great tenants, increasing rents, All good. 

Best of luck to you!

Hi Chris, Welcome to the group.  If you want to stay close, but want to invest at a cheaper price point than San Diego, you may want to consider Temecula- Murrieta-Menifee.  You can get a 3 bedroom for $275 K on up.   

PS- I am an agent and super honest Property Manager. (I can give you several San Diego referrals, if you like.)  I am also an investor owning several of my own homes in this area. 

This area is growing very well and has lots of commuters to san diego and orange County.  Since we are drivable to both and have excellent schools, there is a large influx of people moving here.  Property values and rents are increasing at a solid pace.

Just a thought.  I have a lot of investors from San Diego that have invested up here and are happy with the growth and the type of tenants we place in their properties.   Feel free to give me a call.

I think foreclosureradar provides this.  It is a pay web site, but I used it when I was buying at the courthouse auctions. 

I am investor, as well as an agent, so I totally understand giving lowball offers.  I do.  Every once in a while the seller will agree and you get a great deal.  however... In a probate deal, there has been an assessment as to what the home is worth.  They have to approve the sale price based on comps and get court approval.

If the comps dont reflect that price, it will not be approved. Also someone can come in an overbid at the last minute and leave you out to dry if they see that that is the sales price.

The judge will say to the seller, try selling for $320, if it is not selling for $345. and go down from there incrementally. 

In my probate sales, the judge asked a lot of questions of the listing agent as to how the place was marketed, how they came up with that price, etc. 

I understand the agent not wanting to waste his time on a probate offer.  

If it is a regular sale and on the market a while, there is no judge trying to make sure nothing is selling for under market value, there is a better chance. 

It's not about having the numbers work for you in this case, it is a bout market value and probate court.  Hopefully this helps a little...

Good for you and welcome!

All it takes is 1 property to start!