All Forum Posts by: Joel Davenport

I have a tenant that wants to buy the house they have lived in for 3 years. I figure it is a seller’s market now and I have other things to do with the money but I do not need to sell.

The tenant Is getting an FHA loan that has a list of things to fix up. They also would like a new roof that I might be able to get insurance to pay for. we also have realtors involved and that will take 6% off the top.

So what would you do? I don’t really care to pay $2500 of their fix up list and a new roof. What would you all do? Any advice or scenarios?

location is in East Tulsa about 2 blocks from Columbus elementary.

 Understood, and that was the plan. However, the house caught fire in the middle of the month. We got all the late fees, but still ended up having to refund him about 10 days of rent due to fire and the house being unliveable

 Also, the tenant was not present at the time of the fire. 

 Just wanted to give a quick update to everyone who was following. The fire was caused by lightning. We have a $95K claim from the insurance. Hopefully it will get fixed up nice and new and we can sell the house. Looking to find better deals in the future with a better purchase price:rent ratio.

The issue with the tenant ended up to be paranoia on my part. However, I do believe he lost a job and had taken another job that did not pay as well. This may have led him to have late payments. I think the lack of furniture was just a single guy who doesn't need a whole lot of furniture.

Thanks for all your input and experiences for my situation.

 The reason I ask is because this was a house in a great neighborhood (A). By Oklahoma standards, a $200,000 house rented for $1,600 a month (Used to be our primary residence). Single man, He had been late 3 times this year already and not wanting to pay late fees. Property management says he has been having family issues with a sick mother, etc. He was in about the 6th month of a 18th month lease. Last week the water heater leaked and had to be replaced and now lightning strikes the house. So I guess I'm paranoid to think that there are red flags on maybe he was trying to get out of the lease by starting a fire. 

I had a house that caught fire last night. Hopefully just minor damage to the fire place and roof damage. However, the real question is, do you ever have tenants with little to no furniture? One of the firefighters said there wasn't any furniture but a bed in the master bedroom. The tenant had also made late payments 2 of the last 3 months. What do you think?

I'm looking for some deals in OKC, preferable West OKC in Yukon or Mustang. PM me if you have anything.

I'll try to remember. Looks like I'm in the process of moving back to OKC

@Ryan Ahlgrim , Sounds like a great idea to me.

@Chris Simmons , Let us know the numbers and how you did once your done. Good luck and congrats!