Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Larry Alexander

Larry Alexander has started 6 posts and replied 157 times.

Post: Noob landlord in need of help with next steps

Larry AlexanderPosted
  • Fort Collins, CO
  • Posts 158
  • Votes 117

If they are all on the lease together then wouldn't they be jointly and severally liable? Means you can choose whom to go after. There is no need to divide it up. The guy left holding the bag would have the right to go after the other dead beat roommates to recover any of his losses.

Post: water and sewer bill seems too high

Larry AlexanderPosted
  • Fort Collins, CO
  • Posts 158
  • Votes 117

I had a sprinkler valve quietly leading away, day after day, month after month. Once I found it and replaced the the bill went down hundreds of dollars.

Baby two weeks prior. My wife and I did that. I remember shaking the little guy at three in the morning and screaming STFU!!!! He's still alive, phew. Grew up to be quite a successful young man.

Yup, no sleep, kids is waking mom up every two hours for a diaper change and food. I'd cut her a little slack. From reading your tomb, I'd say you might be a little too involved - might want to take a chill pill and give 'em some space. Take your cutting edge systems and put a fuzzy edge on them. BTW I like @Scott Mac's idea.

Graham Stephan has some great life hack ideas, including meditation. I'm not a believer either, nor was he, but watch his video and see what he is saying now: 

You know what Judge Marilyn Millan says? "Money doesn't leave one hand without a receipt coming into the other hand. Period. No if ands or buts about it!

Was there an eviction after the dirty deed?

OMG - You just called me a jacka@@! You didn't have to get personal y'a know.

I've seen landlords described on here who fit the description of slumlord, so they do exist. Seems like an apt term in such cases. I like the term personally. I find it humorous and charming in a way. I wouldn't use it to brand all landlords, but I do use it among friends; "How's your slumlording business going". "What do i do? Why I'm a slumlord of course. Can i get you another beer?"

I wouldn't use the term around everybody of course. Being such a crack judge of people I'm sure i would have figured out early that it wouldn't be prudent to use the term around... say people like you?

I'm big on the 1st amendment. I don't think any word should be banned, but rather used judiciously.

Hey, I think slumlords are so stuck up that they act like they own the place! ;-P

Now I'm thinking of updating my profile  :-O

Post: Rental Properties for beginners

Larry AlexanderPosted
  • Fort Collins, CO
  • Posts 158
  • Votes 117

If the numbers are right and you have a killer deal, consider a hard money lender/loan. If that doesn't work for you then get your credit score up.

How many credit cards do you own? What are the balances? Do you have an auto loan? What you owe in relation to what your credit limits are is a large determiner in your score. I've seen ten point upward swings just paying off the outstanding credit card balance on one card. Can you get your credit limits increased?

Doesn't Credit Karma give you recommendations on what can be done to improve your score? Try their Credit Score Simulator: https://www.creditkarma.com/tools/credit-score-simulator

There is mucho information online and some great YouTube videos that discuss getting your credit score up.

How about a Rent to Own scenario where you rent and live in a property now while you raise your credit score, whereupon you purchase - generally 3-5 years. You would be off to the races at this point.

lOL - Reminds me of my college roommate. He figured since he was being "ripped off" by high prices he deserved to have others pick up after him. After all, he's paying for the service!

Post: Did your 2020 start out like this? UGH!

Larry AlexanderPosted
  • Fort Collins, CO
  • Posts 158
  • Votes 117

Awww, that'l buff out ;-P

Post: Having issues with tenant

Larry AlexanderPosted
  • Fort Collins, CO
  • Posts 158
  • Votes 117

There are no issues per se trying to convince a judge that your tenant is breaking your no smoking rule, you just have to have convincing evidence. Complaining neighbors about the smell of smoke, a photo of the person smoking. An inspection (you should be able to do) with photos of used ashtrays, pack of cigarettes, smell of smoke. The real tool is late rent. That is your escape clause. While I haven't been to Kansas City MO, my son Max has and loves it there. From the photos he showed me I would think there are no shortage of prospective tenants that don't smoke, don't lie and would pay the rent on time.

BTW - Did your tenant provide you with a set of keys to the new locks?