All Forum Posts by: Jermaine Chad Ingram

I hate to be the bearer of bad news but we are going to self-evict if push comes to shove. Allow me to explain... when the government steps in to stop evictions but fails to stop mortgages from being due essentially putting the burden of housing directly on individual investors/landlords without any help I'm sorry but... as investors we're smarter than any politician and can consequently move faster than policy will allow. What are we going to do?.... You heard me right we're gong to self-evict when and if it comes to it. Now before some of you on here go all high and right about how we can't do that.... we can... we will... and we'll do it without repercussion. 

We have just passed management of our properties to our LLC and the Tenants have been notified of this change as of last week. We'll try to work out payment agreements with tenants when possible however, if it ever comes to an issue where someone in one of our properties is not paying and the government is not compensating for it... we will give our non-paying tenants a warning and will then surely proceed to lock them out... change locks... moved items to the street for 24 hours before being discarded etc. all under the LLC... we will then dissolve the entity... good luck going after a discarded entity and to make matters good luck with the legal back log that will surely ensue. Again this is for extreme cases in which tenants are non-payment even after striking a new repayment agreement and which the local government is still not allowing for evictions - extreme measures for extreme cases... but just another example where uneven government intervention will come back to bite the very same people they are trying to protect.

The numbers look reasonable.  My concern would be that the rent to total cost and the property taxes are so attractive that I assume this is a pretty crappy part of town.  Not a place I want to be invested.  I don't want a $200k asset in a crap area.