All Forum Posts by: Dale Miller

Hi Dale. I know it's been 27 days since your reply (I don't check here very often :)  ) but we received a very good purchase offer for the house in question. There's too much to explain here but everything about is just too good for all involved not to go ahead and sell. It's in process now. 

We did have our eyes on another SFH as a replacement (1031 exchange) that would have been a great acquisition but some one else beat us to it! The search continues...but we're going to wait a while and see what the market does here in the next several months

@Donald Crockett Selling at the top of the market thats sounds like a good plan. Then you won't have anything vacant or get unqualified tenants. Taking the wait and see approach is kinda what I'm doing but if its a home run deal I'll pursue

@Dale Miller. Some municipalities are processing evictions. However, there are state and federal restrictions. It depends on the location and the circumstances of each eviction.

@Matthew Irish-Jones Very interesting! Sounds like there are all kinds of situations that require different actions. It is something that keeps you on your toes. Thanks for your reply!

Our problem is that many eviction attorney's are not willing to take on an eviction with the CDC moratorium.

Even if it does, the eviction moratorium is over and the newer version of it doesn't apply to many people. I noticed as soon as those checks were going out, 2 of my tenants had together 3 brand new 60"+ flat screens. Probably just a coincidence...

I genuinely think the government/news has done a disservice to these people, they really have not bothered to explain in plain language dumb people can understand you still have to pay that rent. Now dumb people are in a hole they shouldn't be in. So many people were thinking..."I don't have to pay rent...and they're sending me a check?!"...and immediately bought flat screens, drugs, beer, excessive toilet paper...

I wonder how many of those checks got cashed at a Walmart and then spent there without a single food item? 

@Joe Kelly Your a straight shooter lol. If that is the case from what you've seen geez you can't let that go. I agree you need to make your rent payments first and after that then go blow your stimulus on TV's and Toilet Paper.

I can't imagine the landlords waiting any longer to file evictions. They may be getting creative to get tenants out like cash for keys or a cheaper alternative. Buy and hold is a business for long term leases and paying tenants. 

@Dale Miller

Govt stimulus $ is still flowing. So most tenants are still paying. Will stimulus continue? How long? That is the real question.

It may sound cold but I don't care what the circumstances are.  You don't pay you don't stay. This is a business, not a charity. If I want to be charitable I will do something outside my business. The only way to get money from people that aren't paying is to threaten eviction, and it is perfectly legal to start the process even during a moratorium. Pay or quit notices, even if you don't want to get rid of the tenant, are very good at making rent suddenly appear. I would bet that most of the tenants not paying rent will never make up for those months, and many don't even think they have to. I also think the .gov screwed them by doing that and then expecting everybody to make 4 months rent payment at once. Even if I'm being an *** by aggressively collecting rent in the end I'm actually helping them. A lot of tenants are tenants because they don't know how to manage money.

But as posted above, most are still paying rent. Even with unemployment spiking that does not mean everybody all the sudden does not have money. They have unemployment payments. And those benefits have been heavily increased. One of the major reasons unemployment exists is so that people don't lose their home between jobs. Even self employed people qualify for benefits now, that's never happened before.