All Forum Posts by: Casey S.

Well they mentioned that they had recently lost their job and were having trouble paying rent each month which gave me a large in. My first contact with them was me posting a 3-day notice so when I showed up their biggest request was that they needed more time. When I mentioned needing to run everything by a lawyer they started talking about how they couldn't afford a lawyer. So, they really showed their hand but were happy to get 3 weeks to move, not pay any rent, I give them $500, and I told them not to clean and just leave anything they didn't want. Ill consider it dodging a bullet. While I'm pretty sure I would win any ownership contest, I don't know If I would have any chance on an eviction. This house is supposed to be a quick flip and that obviously wouldn't work with them still in it and holding a claim.

Oh and to top it all off the seller showed up the day after closing trying to get rent from them. Lessons learned.

Seller wont respond but to give an update- I went by and met with the tenants. They had the contract and receipts for rent. They seemed to realize the seller shafted them. To avoid a potential huge headache we reached a cash for keys agreement with them moving out in 3 weeks.

Did the seller pull a fast one on me or the tenants? How do you protect against something like this? Ill plan on getting in touch with my RE attorney on Monday.

Just closed on a lower end house. Title was clear. Seller told me the current tenants never paid rent but he didn't want to deal with them. I went by after closing to post a 3 day notice. The tenants just called me saying they have a notarized rent to own contract signed between them and the previous owner and all of his receipts showing that they have paid every month. They claim to only have less than two years left to pay. It was obviously never filed at the court house or title would have caught it. I am going to meet with the tenants Monday to see what they have. Anybody know what kind of rights the tenants might have if their rent to own story checks out?

I have a tenant that turned off utils and moved out five days ago. He wont return contact. Anybody know the details on if and when I can have his car removed?

I attended my first county foreclosure auction today in Texas and learned a lot for one day. Unfortunately the list of 25 homes turned in to only 3 coming up for auction and the bank price on them was too high for anyone to be interested. My brain got to turning about the other 22 properties. Would it be worth sending a mailing to the other property owners in hopes that I could make something work out?

Ive never messed with preforclosures, short-sales, or anything in that area and didnt know if things were likely too twisted to even mess with.

I’m a pretty firm believer in performing repairs as soon as they are found in order to prevent more problems. Lately, as I drive around town I have been wondering if I am spending way too much money way too soon on replacing roofs. It seems like ½ the houses in this town are missing shingles and some of them are missing A LOT of shingles. These are almost all rentals and I have noticed many of them stay this way for many years at a time. These are middle class type properties so I assume they aren’t leaking or someone would be pitching a fit and they would be fixed. On the other end of things, if you ask an insurance company or inspector, they seem to think any roof more than 6-7 years old is at risk for catastrophic failure and likely to blow off in one big piece at any second. How do you seasoned pros decide when to drop the cash on new roofs?

My familys has a LLC set up that is mostly used to pay for my grandmothers care via rental propertys. I am the manager and I do not take a salary or any other payment from the LLC. I know you arent supposed to comingle funds between yourself and the LLC. I want to use funds from the LLC to do some flips and I would like to take the majority of the proceeds for myself. How do I go about it while maintaining the integrity of the LLC?

If they are paying in full now and you think the deposit they gave you will cover your losses I would let it ride til the end of the lease.

Why would you put yourself in close enough contact so that she could even have the chance to bug you constantly? Consider the "personal loan" that you gave her as gone and I wouldnt try to hold deposit for it either. Why are you concerned about noise issues? If the neighbors have noise issues tell them to call the cops. Thats not your job.