All Forum Posts by: Paul A.

 Thank you- the property is in AZ if anyone has any recommendations... 

Hello,

I have found a few posts here with questions but none seem to have an answer that I could find. 

I have a property won at auction that is in the redemption period... it seems insurance companies will not insure it since I am not on the deed. There are active tenants in there with an AWOL owner. 

How do I secure liability against my other assets. Insurance brokers said no due to my name not being on the deed until after redemption. 

Thanks! 

Hello,

I non renewed with a tenant who has moved out. They didn't pay and left the place a mess, with plenty of belongings like beds, clothes, bikes, etc. 

I believe NYS law is 15 days to keep the things, but I have also read 30 days is standard. 

i want to get the property cleaned up and start working on it... What is the best thing to do with all the stuff? Put it in a storage? The garage? Or should it remain in the residence and we are at a standstill until the set amount of days? 

Thanks!

New laws were passed last year, make sure you are up on them or whoever you use is!

https://www.nysenate.gov/legislation/bills/2019/s6458

@Jon Sanchez

Nice job, would also be curious of the numbers. If you are in Marana, looks like that could rent for $1k-1.2k depending on finishes. Debt service on 161k is probably going to be $1100 per month estimating 1 percent for pmi and 1600 taxes/yr and 800 insurance. Am I missing something?

@Etim Fisk

1) "I sent the $800 in cash in the mail to you. What? You didn't get it, well you must have lost it. I don't have extra money. I will be good for next month."

2) You go collect by hand and give them a rent receipt, and did that for the other 4 units next to you. Now landlord Etim has $3200 in his pocket walking around. Hopefully you didn't invest in a rough area because you now become a huge target for violence.

3) You have a drop box for all tenants to drop off their cash. You go to check it, nothing is in there...hmm

I only accept personal check from one tenant who I inherited, and haven't had an issue. Everyone else uses Cozy.

Now cozy has issues, like allowing partial payments. I am not too thrilled about that one and wish they would edit it to not allow that. But all I do is login and not have to go pester folks, or go to a bank.

@Rob Sawyer I'm here! No one is here yet!

@Pat L. Looks beautiful! Kind of like how we wanted it to look. :) 

Thanks everyone for your input, we are going to be knocking them back into place with these suction cups I found on Amazon and a mallet. Potentially wood glue if that doesn't work. I will keep the thread updated with the results in case someone stumbles on this later with a similar issue.

The one commonality it seems with all the issues is a concrete sub floor weirdly enough. 

@Rob Sawyer What's the difference between this one and the Onondaga County REIC? 

@Pat L.

Thanks Pat, similar climate so I appreciate the response!