All Forum Posts by: Greg Jeanfreau

Hello All,

I have a 2 family residential property in that we renovated last year. We are starting to slowly have issues with one of the tenants. First of all, she doesn't appreciate or thank us for anything. I know this is not important, but it does become important as we progress. Whenever something small breaks or she needs anything, I am there almost immediately with whatever contractor is needed for the job. She never says thanks in any way, shape or form. Who cares, right? Not me so much, until I go over there and the place is full of stuff to the point of hording. Still, so what, right? It's her and her daughter's place, right? Who am I to judge what or how much stuff they have. Then I show up because a neighbor's tree fell on the rear of the house and grazed it and she has two pitbulls in the backyard that are not part of the agreement that we have for 1 Pomeranian (that destroyed that destroyed the blinds in the front window, BTW). Then I pass by on July 4th and there's some random dude BBQing on the small front porch of the wood frame house. As a matter of fact, there are always random dudes hanging around. Lots of them. All day. 2-5 hanging out in front that have now chosen milk crates as their sitting vehicle of choice. Meanwhile, the other respectful sweet tenant on the other side is leaving her lease early to live with her boyfriend. We have rented out her side already to a young couple, but I am worried about what they will think with all this BS going on next door. Anyway, I have given her 2 warnings about the dogs and that she is in breach of her lease and the second one brought up the BBQing on the porch and the loitering. I also said this was the final warning. I guess the only question that I have is whether or not loitering by non-residents in a small rental situation is something that anyone has encountered and resolved. Thanks!

Lock in cheap money especially if you don't plan on moving. Also consider a 15 or 20 year amortization. At least take a look at the 15 year and how quickly your principle balance goes down.

@Paul Vang Is that a 30 year amortization? I ask because if it is a 15 year or 20 year, I don't mind the numbers that tight. If you have to come out of pocket occasionally, then you know it is indirectly going to your principle. If it is a 30 year, then I would probably pass. If it is a 30 year, then not only do you not have good cash flow, but you are not hitting your principle hardly at all.

What about insurance? 

Patience, diligence, cash, and no contingencies will do the trick in NOLA these days.

New Orleans native. Realtor. Investor. Looking for leads for both business and deals for investment and client needs.