All Forum Posts by: Grant K.

If I do an eviction it is everyone in the unit. No exceptions. BM is out too.

As soon as someone starts lying to me and being difficult, I'm looking for an opportunity to get rid of them. The people foolish enough to argue typically give me another opportunity to evict them soon enough. BM is on her way out within a few months.

Hiring help to serve notice or process is something I already do. If no one else, the sheriff is happy to do it.

Does anybody have tips for screening people better?  Idk how to screen out the person with a clean background, but associates with questionable people. Is there a tell-tale sign I'm over looking?

Or how about a passive method to discourage the criminal behavior and aggression? I've seen cameras. I know people invite the building inspector and fire marshal for inspections or invite the police to talk with everyone. I'm fishing for clever ideas. A building can fall apart in a few months and by the time the problem comes to me I have rightful upset good tenants.

Can anyone give me tips to avoid physical altercations at my units geared towards low-income tenants? 

I've had two gentleman threaten me in the last few months. I had to call the police earlier this week on one of them because there was no way I was getting my pressure washer back without getting punched in the face or worse. The small town rumor is that dude is the dope man and he has a laundry list of small-time drug and some more significant battery convictions already. I hate calling the police, but I think in this case it was the right move.

Anyway, both were guys with criminal records not on the lease trying to live with their "baby-mamas." When I asked them about getting on the lease, they both admitted to an unacceptable criminal record, but for various reasons believed they were entitled to stay. I never argued or got upset until the physical threats started; I just kept to the facts and the policy. The first guy left without issue after the tenants realized they were going to lose their apartment; the second is tbd.

When I get unauthorized tenants, I write a very short and simple letter stating that everyone has to be on the lease and pass a background check. If I see them or talk to them about something else, I'll mention it as well. However, if I talk to them and they don't fix it or they actively avoid me, the next month I mail and post on their door the same letter with the appropriate eviction or termination notice with the opportunity to cure the problem. If they ignore that I follow through with filing an eviction. The problems occur in the time period after the second letter, but before the eviction is filed. Most people I have to work on this with, however, merely question why it matters to me, I explain it, and its just a matter of tidying up paperwork.

I'm not sure if there is anything I can do differently or better, but maybe someone has an idea for me.

Hello,

I bought my first duplex using a conforming loan bought by Fannie Mae. I've lived there for several years and its worked out great. I'm past the required occupancy period and I don't pay PMI. The rate is 3.75% with 27 years left so it would be hard to justify refinancing. The LTV is maybe 65%. I have no interest in selling it as it has been very profitable.

However, here's my unexpected problem and opportunity. The neighboring property owner is selling due to health reasons and I'd like to buy it if we can come to a reasonable price. I'm told I need a 25% down-payment and significant reserves for another conventional note, which I don't have handy. I could raise it, but it would be expensive money or I'd have to beg the bank of Mom and Dad.

Assuming I qualify financially, would I qualify otherwise for an FHA note if I move there? I know the mortgage insurance expensive (and that's why I didn't go that route on the first one), but I think the FHA note will require a 3.5% downpayment and won't require reserves. What am I missing? Will this work?

I'd rather a reasoned answer here than from a banker who will make a buck off my ignorance!

Thanks