All Forum Posts by: Darren S.

any investors looking to into the West Parkside area near the Zoo? 

If you purchase a property and inherit tenants its important that you have a already have system in place for how you are going to mange those tenants and let them know what the new rules and processes are up front. If you don't have systems in place for property management it might be better to loose a few months rent while you work out that system than have to deal with an upset tenant. People in general don't like change especially when its to their personal space or affect their normal routines, and if they don't agree to your new system or rules then let them out of the lease and find new tenants. 

@Brendon Woirhaye, yes there is an end. I spoke with a lawyer who told me that I did have a case with good chance of winning and that I should file in small claims court and represent myself.  So I took his advice, filed a claim against them in small claims court, I waited several months after I found out to file because I wanted to focus on the rehab and so I can wait for the most inconvenient time to set court date. Five days before the court date the sellers contacted me through my agent and the day before the court date they paid. It turns out filing a claim in small claims court was quick and easy, I was back home in under an hour. Overall this was a good learning experience  that I hope never to repeat again.

@Fatima Champagne I currently live in  an owner occupied duplex in the West Philly area  near City line Ave, there area a group of duplexes in that area that might fit your needs. See the link for a map of the area, if you need more info on this area let me know.  

https://www.google.com/maps/dir/39.9996522,-75.209...

@Fatima Champagne I would agree with @Daniel Flesher, run the numbers to see what they are really worth and the bigger pockets tool is useful. When buying duplexes the price is really determined by the rent they bring in. When I was looking for a duplex  in Philly I created an excel spreadsheet to plug in numbers to get a quick idea what cash flow would be.   

@Jem J., I'm also looking for a good Handyman, would you mind also providing contact info for you handyman?

Thanks for all your responses. Ralph, lessons learned: next time either get an Estoppel agreement or have the seller get the tenant out prior to closing.

I received a copy of each lease from seller and neither leases mentioned anything about a prepaid last month's rent, I never thought about an Estoppel and I agent never mentioned or recommended one. I won't make that mistake again. The tittle company would not have had any idea that seller collected last months rent. 

Hi

I just closed on my first property, a duplex that I intend to move into, and it seems the sellers did not turn over all monies at closing. After closing I went to go speak with my new tenants to introduce myself, I also gave the first floor tenant a notice of non-lease renewal and several days later the 1st floor tenant asked if she would get her last month's rent back. Her lease didn't say anything about a last month's rent and the sellers didn't turn over a last month's rent, only security deposits for both units; I told her that and asked if she had a receipt or some paper trail but she didn't. At this point I thought she was trying to get over on me cause she was upset after I explained to her why I would not renew her lease. The 2nd floor tenant said she also paid first,last and security when she moved in and she has proof, she provided a bank statement with the scanned checks showing the total amount she paid when she moved in, 

I went back to my agent and ask him to speak to the sellers about this, the response I got back from the sellers says that they don't have the money after covering closing costs and repairs. The total amount in question is $1740.00. The sales agreement did say the sellers must turn over the security deposits. I plan on writing a letter to the sellers explaining the situation and to turn over all monies before seeking some legal advice. So what are some other recommended courses of action?