All Forum Posts by: Courtney Duong

@Natalie Schanne

Natalie. I really like the way you do it. I bought 2 rentals the last 2 years and didn't know about LLC and asset protection until I joined this site a couple weeks back. So I was thinking about creating then moving them to LLCs, but then thinking that might eat up to cash flow since I only have 2 rentals and there is annual fee for LLC?

Anyway, just like you it will be 3 houses for me (2 rentals) and a car.  A  million policy is enough.  Can I ask which insurance company do you buy it from?  And how does it work?  I have no idea how an umbrella policy works.  So you still have a regular policy, then have an umbrella policy?  Or just 1 policy called umbrella that will cover for all things under (in this case 1 primary, 2 rentals, and 1 car).  And the 1 million is for liability, right?

Thanks.

Anyone have any info on how will it go if she appeals?  Will the judge make me take her late payment and dismiss?  

in the article Brandon posted about how to evict he only said that if tenants won't show then landlords win by default.  But didn't talk about when tenants appeal so I don't know how the process will go in the case tenants appeal.  

@Jason Cacioppo I agree.  Which is why I went to court yesterday.  She didn't show and I was so happy thinking I will get her out by 7/6.  This morning she texted me saying she will file an appeal and pay this month rent to court registry so she can get another court date.  She obviously knows this process very well.  I told her I will see her in court.  Not sure how it will work out if she appeals but I am willing to take a chance.  Worse case is the judge won't kick het out.  If so, and if she doesn't pay July by 7/3 I will deliver notice to vacate and file for eviction again 3 days later.  No more late payment for her, not a single day.

@Stephen Willis  I didn't know about these online platforms.  this is my second year at this so still learning.  Will definitely check into that though. Thanks.

@Rachel Foster I didn't know about Tellus.  I will look into it.  

Court date was today at 1:00 pm.  She was still trying to scam me by calling me 7:30 am Saturday morning saying she smelled foul smell from attic (we had rodent issues back in March which I already paid a rodent company came taking care of it).  Good thing I called and rodent guy came and said he smelled and found nothing (I think she was trying to build a case if I didn't not act promptly when she said she smelled foul smell). Then in afternoon she texted me saying lots of trauma in ER so she could not step out to pay ( she is not an ER nurse or doctor!).  So I told her I would see her in court.  Went to court today and she didn't show.  Judge said 7/2 is the day I can come back to file for writ of possession.  Sheriff will come to remove her 3 days later.  So we are looking at 7/6 for her to be gone because 7/4 is a holiday.

@Gordon Starr I already told her that on Friday, that if she paid June rent along with all late fees and court filing fee on Saturday then I would withdraw eviction first thing on Monday morning.  She promised Saturday which didn't happen.  So I went to court today.  I am not putting up with her anymore even if tomorrow she has the money.  This is second time I filed for eviction on her already.  First time was in February which she did pay before court date so I withdrew it.  I now just want her out so we can move on.  

The way I see it, I can keep security deposit for back rent of June.  If she is gone by 7/6 then I will only lose the month of July, plus some fixings.   Just hope she won't cause damage to the house when she moves out.  I did waive late fee for her on the first 3 months that she was late so if she has any decency then hopefully she will go without breaking things.

@Trey Golston

Hi Trey,

Do you have experience with foreign investors? If yes, for foreign investors which structure gives best tax advantage: LLC, S Corp, C Corp?

Thanks.

@Tanya Rooney my thinking is exactly the same as you said.  I told her I want June payment tomorrow including late fee, if not I will go to court on Monday.  Only if she pays tomorrow then I will withdraw the eviction on Monday morning (because I am afraid if she has money to pay now and shows up in court with cash on Monday then the judge won't make her leave and I will waste my time going to court).  Then on top of that I want the last month rent in advance breaking/spreading/adding into rents of July, August, September.  She can pay 2 times each month (because the payment is now stacked and higher than normal) on the 3th and 20th, but has to be on time because I don't accept late payment anymore.  So if I don't get payment on the 3rd or 20th then eviction will come again. My agent will only draft the amendment tomorrow after I get the June payment.  if she won't pay on time from now on then eviction will come.  If she pays on time then I will wait until end of contract which is 4 more months and will NOT renew.  I don't mind the house sitting vacant for a few months, I rather get less money in the end and not having to deal with the stress of having someone like her. I also try to avoid any additional stress or anxiety.  Just not worth it at all. I'll be very patient and screen way more next time.

On a good note, I have a second rental where I have the perfect tenant everyone is looking for.  She has been paying not even on time, but always early, like 3-4 days early each month!  She takes really good care of the house and there is only her and her daughter so way less normal wear and tear.  Sometimes I think because God is so good and gives me a perfect tenant like her then I should not complain about the bad tenant who always pays late : )

Thanks for weighing in though, really appreciate it.  Have a good night.

@Nicholas Aiola 

Hi.  Do you have any clients who are foreign investors?  Or have any experience in providing tax consultations to foreign investors?

Thanks.

@Anthony Wick

I thought of what you said but then don't think she will move out early.  She has been telling me that she likes the area and the schools for her kids and she would like to stay.

She works 2 jobs, both with good pay.  Believe it or not, her salary is twice as mine and I am a programmer.  So her income is 3.5 x rent.  Credit score around 620.  No eviction before.  So I don't understand how/why she is always late either.  Unless all information she submitted during application was fake.  She has 5 kids though, and single mom which is why at the beginning I had sympathy for her and waived the late fees the first 2 months.  But then it became every month late.

This morning we talked and she said she will pay for June tomorrow.  I said If she pays tomorrow, along with all late fee, and cost of filing for eviction then I will withdraw the eviction on Monday morning.  But if I don't see anything tomorrow then I will go to court on Monday as planned.  Court time is set for 1:00 pm Monday.  

Also, I want to get the last month rent in advance but spread it out in the next 3 months, starting July.  She agreed to that and asked to break it down to 2 days, 5th and 20th.  I agreed to that.  So let's see if she will pay tomorrow or not.  If she pay then I will ask my agent to create an amendment so we have everything in writing.  Oh, I also said I won't accept late payment anymore starting in July.  So if she won't pay on the 5th, or 20th then eviction again.  I should have thought more of the offering her to move out by 6/30  in exchange for withdrawal of eviction.  Just that I didn't think she will want to move out early or have enough time to do so.  You have no idea how this lady is in terms of keeping things moving and be on time.  Last night she said she would call me around 7:30, well she never did until this morning.  This happens so many times by now.  She has no respect for other people's time whatsoever.  

Thanks everyone for your replies.