All Forum Posts by: Dave Bopp

@Nathan Gesner, @Wesley W., @Matthew Olszak, @Jacob Villalobos - Thank you all for your input. Are there any options you can think of for incentivizing their move out before the 35 day mark? I spoke to them this morning about figuring out a solution and was told they are in such a bad financial position that the energy company is cutting the power to their apartment in a week.

I have tenants who will be moving out in 35 days. They are late on their rent for the second month in a row. I have a signed lease for the new tenants scheduled to take their apartment a few days after the current tenants move out. 

Is it worth filing the eviction if the current tenants haven’t paid by the specified eviction date in their lease (June 10th) or should I try to work with them to get the remaining rent for this month? I’m concerned that going through the eviction process will delay the move in of the incoming tenants by weeks. Any advice would be much appreciated. 

@Tommy Sessions, @Kyle J., and @Mark Holencik- thank you all for your input. It is much appreciated I'll move forward with the negotiation.

Thanks for the quick responses @Tommy Sessions and @Kyle J.! If the seller is also rehabbing the house beforehand would you still feel the same way?

Hi Everyone,

I am negotiating with a seller on a property and upon doing some research found out that the seller had a substantial criminal record. Would you back out of negotiations or continue regardless of that? 

Thanks for your input!

Best,

Dave

Hi BP!

I recently rented one of my units using a leasing agent who was referred to me by a friend. I provided my own lease which specified that first month's rent, last month's rent, and a security deposit were required at lease signing. The leasing agent overseeing the signing only collected a security deposit and first month's rent though. 

From a customer service standpoint, I think it would be unprofessional to go back to the tenant two weeks after they moved in to request last month's rent from them, but it is also specified in their lease that last month's rent was due at lease signing. I could see that coming back to bite me down the road should any issues arise with the lease. Would it be reasonable to ask the leasing agent to cover the last month of rent since it was their error?

Thanks in Advance,

Dave

Thank you all for the input! I was able to get in touch with their previous landlord and was told they were clean, polite, and paid on time. With that reassurance, the lack of credit history seems like much less of an issue. I appreciate the guidance everyone!

Caleb, thanks for the quick response! The rent is $1,250 per month and their combined annual income is $59,000 ($4,900 per month) so they make more than 3 times the rent rate. His credit came back around 630 

Hi Everyone!

I recently bought a duplex and have received an application & deposit to hold from a newly engaged couple moving to my area. Based on the results of a background check I found that neither potential tenant has a history of evictions and they both have verifiable and reliable income. One of them has decent credit and the other has no credit history at all (she is 22 and a new college graduate). Should I overlook the lack of credit history and rent to them anyway? Should I  require that she have a guarantor? Any input would be appreciated!

Thanks,

Dave 

I currently have a duplex under contract that I was planning on financing with an FHA loan. The appraisal for the property was done last week which came in $50k under the purchase price. The property has an additional corner lot attached to it, which doesn't seem to have been factored into the appraisal value despite a request to the financing bank for an appraisal adjustment.

I am simultaneously looking into other conventional financing options with different banks and trying to get the seller to finance the $50k difference through a collateral agreement, but I am in search of additonal potential alternatives to cover the remaining $50k. Are there any possibilities I might be overlooking?  

Any suggestions would be much appreciated!

Best,

Dave