All Forum Posts by: Gersh White

You have a very bad situation with these professional squatters. There is a story circulating out of California with a guy whose mother had a similar problem . He had her make him a lease and he waited for the squatters to leave and changed the locks. There belongings got tossed out on the lawn and he moved in. When they got back to the house he showed the police his lease and said they where moving. Problem solved!

If your not using an Attorney find one ASAP. If possible ask the nearest building doorman who the big landlords use because there lawyers no there way around the courthouse; and they know the landlord friendly judges also. Stumbled onto this scenario myself and it was my heating repair guy that gave me this tip because he was a Super for his building also. 90 days later and foot in behind!!!

When all else fails I recommend the Product "Ortho Home Defense" Spray everywhere around the home outside(Ant Holes by front door too!!) and inside. Afterwards add ant bait traps inside. Redo after4 months then tenant can take over. Add into lease later when tenant is gone. Should work fine.

I was about to say the same thing when it comes to Loopnet but Richard F beat me to it. I would not lease a space from anybody. Do your business online and rent a storage space. Much cheaper to start.

There are benefits for both hiring a management company and doing it on your own. I have experience with both. Online rental management software companies work well when you have your vendors in place and the property is up to code and in satisfactory rental condition. Management companies however have there own vendors in place and they can be on monthly payment plans charged to your account eating away at your rent. You can also expect lease fees, accounting fees and attorney fees to be added into the mix. Since you are only 3 hours away and not out of state you may be able to handle doing it on your own. I recommend an Avail.com account for landlords. They do have good reviews and background checking software for tenant screening. Good Luck. 

Congratulations on your first purchase. Although i am not in your area i would take time to look up the section 8 videos on You Tube. They have some real estate section 8 landlords who give you real good insight on section 8 tenants, there lease addendums, and amenities to include or exclude. Pay close attention to tenant screening and yearly inspections like the videos say and watch the video with the section 8 landlord with 70 rentals!! GET GOOD HOW TO BE AN EFFECTIVE LANDLORD BOOK! AND DO THINGS BY THE BOOK NO EXCEPTIONS NO COMPROMISE. GOOD LUCK. GW

I believe the current administration in place have emergency funds in the pipeline for tenants to apply for. you may have to hang in there for a few more months to wait for these funds to be available. Perhaps the tenants have to apply for hardship as well for you as the landlord to receive payment. i would go on the government websites to check on the progress of these programs to see if you as a landlord/owner have to submit documents as well. Good Luck. GW.

Congratulations to you and your wife. Keep in mind to do research on best property management companies in your area in case the tenants keep you up at night. much success to you!

Hello Mrs K: If this is your first investment property you need to keep things very simple and by the book. No liens or tenants and no restrictions. I am sure there are other duplexes with the same square feet that are free and clear where you can just do minor cosmetic work and have new tenants paying top rent. leave that life long tenant and move on to the next deal.

Welcome Mr. Calvin!! I hope your fist experience is a positive one and try to establish a win/ win situation at closing and don't forget to do everything by the book. Also don't count out any 2 family homes as my first investment was a 2 family that served me well for years. good luck my friend.