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All Forum Posts by: Greg Gaudet

Greg Gaudet has started 51 posts and replied 399 times.

Post: Maui Real Estate Agent & Investor Meetup Presents Creative Strategies!

Greg Gaudet
Pro Member
Posted
  • Investor
  • Pukalani, HI
  • Posts 413
  • Votes 291

Shoot I just saw this, a few days too late lol I need to start checking BP again. 

Post: STRday Meetup in Kihei

Greg Gaudet
Pro Member
Posted
  • Investor
  • Pukalani, HI
  • Posts 413
  • Votes 291

I'd love to come! I doubt I can get down there by 8am though lol especially with the baby

Post: Rules for Tenants(duplex, fourplex)

Greg Gaudet
Pro Member
Posted
  • Investor
  • Pukalani, HI
  • Posts 413
  • Votes 291
Quote from @Richard C.:

The notifying the landlord when leaving for a long weekend is really, really intrusive.  It has been quite a while since I rented, but I don't remember ever seeing anything like that.  If it was in one of my leases, I certainly ignored it.

You don't want the tenant checking the smoke alarm/changing the battery.  You need to do it, to be sure it gets done.  I have a fire prevention company test the detectors and also test/charge/replace extinguishers.

In general, the way "rules" should work is that you put reasonable rules in your lease, and then let people live their lives.

I know I'm just stumbling across a really old post; but the Hawaii Landlord Tenant code does dictate that the tenant must notify the landlord of extended absence. Although I think it says anything over 10 or 14 days, which is totally different than a long weekend. I do agree that requiring notification that you're going camping or something for the weekend is excessive. 


Post: Releasing funds to seller prior to closing?

Greg Gaudet
Pro Member
Posted
  • Investor
  • Pukalani, HI
  • Posts 413
  • Votes 291

Just a quick update, the seller actually never brought up this request again. So we got lucky and avoided the potential problem all together. He signed his closing docs today and we're closing Friday. Thanks for your input! Glad it was a false alarm! 

Post: Tenant with mental health illness?

Greg Gaudet
Pro Member
Posted
  • Investor
  • Pukalani, HI
  • Posts 413
  • Votes 291

Just wanted to give you guys an update.. 

After getting more complaints from the other tenants that this guy was walking his dogs outside their windows between 3-5am and disturbing them, not picking up after his dogs and weeks worth of poo was starting to stink up the inside of their unit (bc their windows face the yard), etc., I had a talk with the tenant and explained that it didn't seem like this turned out to be a good fit, and that I think we'd both be happier if we just agreed to terminate the rental agreement. 

I'm very relieved that he agreed, and he signed the mutual agreement for early lease termination. He said he'll be moving out 9/25, fingers crossed it goes smooth! 

Post: Releasing funds to seller prior to closing?

Greg Gaudet
Pro Member
Posted
  • Investor
  • Pukalani, HI
  • Posts 413
  • Votes 291

Hey All, 

I'm pretty sure I already know the answer, but in an attempt to better serve our seller and go above and beyond, I wanted to ask the community for the off chance that someone knows of some way to structure this. 

Deal:

We're under contract to buy a house for 625k, that we'll be flipping. We will do 75-100k rehab and ARV is 850-900ish. The seller asked if he could get some cash, about 25k, prior to closing for moving expenses and utilities. I told him there is no way to do that in which the buyer is protected, but we could do a seller rent back. So instead of closing in 30 days we are closing in 14 days, at which point he'll get most of his cash proceeds, and he'll have 2-3 weeks to move out from then. We're 1 week into escrow and he text me today asking again if he can get 25k prior to closing. Told him that I don't think there's a way to do that safely, but I would do some research just in case there's a structure that I'm not aware of.

The only ways I know how to safely get him cash sooner are: 1. seller rent back (we're already planning on doing this one) 2. offer to release 25k now in exchange for a 50k price reduction to justify the risk, and if he tried to breach contract or cancel the sale we could record a 50k lien on title (but that means we may have to wait decades to get our money back if he doesn't sell now) 

Anyone ever done this? 

Post: Tenant with mental health illness?

Greg Gaudet
Pro Member
Posted
  • Investor
  • Pukalani, HI
  • Posts 413
  • Votes 291

Aloha All, 

Has anyone had experience with tenants showing signs of untreated mental health? 

I have a 4-plex and had a new tenant move in June 1st. His references and background checked out, and he's actually a pretty high earner with around six figure income, business owner, and seemed like a smart and professional guy in his 50s that had recently been divorced. The only strange thing was that he wanted to rent my studio that doesn't have interior access to the bathroom. It's only $1,200/mo since you have to walk outside to get to the bathroom. 

Last night he called me saying that every night for the last 2 weeks there have been 2-3 guys standing outside his door and window and he has heard them talking about how they're going to break in. But every time he opens the door to investigate, or he calls the cops, they run off. At first I was really concerned for my tenants safety, he was so scared that he was looking for a hotel that would take him and his 2 big dogs. But then I spoke to the other 3 tenants, who have lived there for 3-5 years, and they said they think he's paranoid because they can hear anytime someone walks by, and they haven't heard anything. They were even sitting outside one night when the guys supposedly ran off, and they said there was no one there. Then I found out about more red flags, like that he would randomly be standing outside cursing at himself and other strange behavior. Last night one of the other tenants placed one of his security camera facing the studio and the only thing it captured was when the cops came after he called them again. 

I'm not a doctor, so I have no business trying to diagnose someone, but I think it's seems very likely that mental illness is the root of this issue and that he must be hallucinating. But I don't know what I can do. Thankfully we only signed a 6 month lease, but we still have 4 months to go and I don't want my other tenants to have to deal with it that long. It would be totally different if it were a single family home and my neighbors had issues with him.. but these neighbors are also my tenants and they deserve to enjoy a peaceful, comfortable and safe home. 

I'll talk to my lawyer about whether we can terminate the lease, but in the meantime I am also curious if anyone has any experience or suggestions on how I can get him help? I have to imagine that whatever is going on with him is seriously impeding his ability to live a happy life, and chances are strong that there is treatment that can really improve his quality of life. But I can't make him go to the doctor? 

Anyone dealt with anything like this before? 

Post: Attention Maui Investors! Join us for our15th Maui REI Meetup!

Greg Gaudet
Pro Member
Posted
  • Investor
  • Pukalani, HI
  • Posts 413
  • Votes 291

Aloha All! 

We're back!! Sorry for the long break, I had been doing a lot of traveling recently and wrapping up some big projects so we haven't had a meetup in so long! But we're back and will be meeting Thursday, September 1st at 4pm via zoom. Call in from the comfort of your own home, car, office, or wherever you like to hang out and pau hana. This meetup is very casual style and is open to all. We just like to talk story and learn, and keep an open format because we always end up stumbling into a topic so much better than anything we would've planned, and I can speak for myself at least and say that I learn so much and make so many great connections every time. I look forward to see you all again! 

Remember, please be respectful and take a moment to click the blue button near the top of this post that says "attend event" so we know how many people to expect. 

i had been planning on resuming in person meetups for our next meetup, but seems like so many friends have covid right now so decided to play it safe for this one. Let me know your thoughts; would you prefer to resume in person meetups? Or do you like the flexibility of being able to call in on zoom and not have to put shorts on? Haha 

Greg Gaudet and Maui Home Buyers LLC is inviting you to a scheduled Zoom meeting.

Topic: Maui Home Buyers 15th Investors Meetup

Time: Sep 1, 2022 04:00 PM Hawaii

Join Zoom Meeting

https://us06web.zoom.us/j/83388954911

Meeting ID: 833 8895 4911



This even is brought to you by Greg and David from Maui Home Buyers! 

Post: Maui Home Buyers 14th Investors meetup - 1/26/22

Greg Gaudet
Pro Member
Posted
  • Investor
  • Pukalani, HI
  • Posts 413
  • Votes 291

Happy new year all! Join us 1/26 at 4:30pm on zoom for our next Maui real estate investors meetup! 

Post: Maui Home Buyers 13th Investors meetup - 9/23/21

Greg Gaudet
Pro Member
Posted
  • Investor
  • Pukalani, HI
  • Posts 413
  • Votes 291

Join our next Maui investors meetup 9/23/21 at 4pm till 5/5:30ish. We're going back to zoom for now due to the delta variant and rise in covid cases because we want to be part of the solution, and not put more stresses on our community! 

Please join us, and be sure to click "attend event" above so we can make sure we upgrade our account if needed to accomodate all attendees. Please share with any active investors you know!  

Join Zoom Meeting
https://us06web.zoom.us/j/6082407875

Meeting ID: 608 240 7875
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