All Forum Posts by: Denise Pauzano

Bought a duplex last year in what we thought was an up and coming area. Assessed at purchase price. After tenants moved out, we are now struggling with vacancy for almost 6 months. Renovating but not getting the right tenants. House feels like a complete money pit. Barely cash flowing at this point. Any experiences or strategic perspective? Continue on or try to sell at likely a loss?

Thanks everyone! Based on your comments and further discussion, we decided to move forward with supplying a new one but we will not be removing the appliance they brought in. Very helpful feedback. We will be sure to rethink this section in our leases moving forward. It’s an ever evolving process, learning from the random issues that come up.

We have in our lease that tenants must maintain all appliances. This will include their own. However, they didn’t agree to bring their own until after lease was signed so we wrote up addendum that they agreed to bring their own. Additionally, there are no laws stating a dwelling must provide appliances. Trying to see if anyone has had these issues and how they are handled/resolves.

Tenant supplies their own appliance (refrigerator) after you (landlord) offered to provide prior to signing lease (they refuse, they will bring their own). Appliance breaks within first month then tenant asks you to replace it AND help them remove it from the premises. Your response?

Anyone want to divulge up and coming neighborhoods in your cities/areas? I recently heard a discussion about every city having a nearby city/area or section/neighborhood within the city that is “up and coming”. Also those who are optimistic will go into rundown neighborhoods and begin to build. What’s your experience?

Update: we renegotiated and the seller knocked $1500 off the purchase price. Not nearly enough to cover around $5000 in issues but we also found out we’re purchasing equity so we went with it. Buyer beware of slacking listing agents I guess.

This question will have varied answers based on monthly/annual RORs. Ballpark, how many units does it take to replace a 6-figure salary (let’s go with $100,000 to keep it even). How long did it take you to accumulate and replace your 9-5 income?

Anyone have any experience and advice with Spec houses and developing? Looking to expand into developing in 2018-2019. Looking for land and speaking to bank and looking for a builder.

Fight for it or let it go? Other than inspection issues, the house is a bargain.

I’m either dealing with a stubborn seller or a shady seller’s agent/broker. Placed offer on decent duplex. Inspection report found issues including roof, railing not up to code, electrical issues, and other smaller items. We asked to have the electrical issues repaired and railings brought up to code. Seller not responding and seller agent not doing her job. She procrastinated to the last day which forced us to terminate the deal. My agent suggested we terminate and renegotiate. Any advice?