All Forum Posts by: Clint Jones

@Brent Paul thanks for that info.  We agreed that this is a huge red flag for future tenants when we eventually move out and fully rent out the duplex.  Our plan is to have them sign a mutual termination agreement and offer them their full deposit back as long as they are moved out by Oct 31 and there are no damages and the place is clean.

It's an unfortunate situation because we do like the wife as a tenant but we gave them an ultimatum the first time the other incident happened so we have to stay firm with our decision.

Our main concern was if there were any additional hurdles with the Housing Authority with the mutual termination agreement or if they will honor it and allow them to move out?

We talked with the tenant and are considering allowing them to terminate their lease early and move.  Seems like the best option all around.  Anything we need to be aware of with the Housing Authority?

Hey BP,

Wanted to get some advice on a section 8 tenant situation we are dealing with.  Brief overview - my wife and I are a little over a year into a duplex house hack.  We inherited a section 8 tenant whose husband is not on the lease and he lives there most of the time but also lives with his mother some of the time.  We had an instance this summer where he and his adult son, who is on the lease, got into a verbal confrontation with a contractor we hired to do some siding repairs.  We talked with the tenant and the husband after this incident and basically told him that nothing like this could ever happen again in the future and he apologized and promised that it wouldn't.

Fast forward to today and our tenants husband, the adult son and one of our neighbors got into a verbal altercation/shoving because the tenants husband was apparently driving fast through the neighborhood.  We went outside to try and diffuse the situation which it eventually did when the husband and adult son drove off.

We told the tenant (the wife) that the husband is no longer allowed on the property since he is not on the lease.  Turns out the reason he cannot be on the lease is because he is a convicted felon.  For the most part they have been good tenants minus those two incidents, but we realize now that these types of situations will likely happen again in the future.

We are wondering what our next steps should be or if anyone has any insights into how we should handle this situation.  Contact Housing Authority to report the situation?  File a police report to get the incidents on record? ..?

The wife, adult son and two minor children are currently on a 1 year lease which ends June, 2020.

Thanks in advance for any advice/tips.

@Leah Brooke @Dan Mackin Our lender actually found an exclusion rule with the Home Possible loan specifically for Denver County properties at the time we were looking (March 2018).  At that time there was no income limit for any properties located in Denver County, regardless of what the income limit showed on the Home Possible map.  He said that this exclusion can change at any time.  It would be best to contact a lender and ask them about that exclusion rule and if it still applies to Denver County (or anywhere you may be looking).

@Tyler Howell Thanks for the offer - I'll reach out to you later this week or next.

@Brent Griffin Sounds good - what part of South Carolina did you move from?  I went to Clemson for my undergraduate degree so I've spent a lot of time in SC as well!

Hello Bigger Pockets Community!

My wife and I moved to Denver, CO from Atlanta, GA about 6 months ago so we are relatively new to the area.  I heard about this site through a podcast and have been wanting to look into getting into real estate investing as a way to generate passive income.  I read through the Ultimate Beginner's Guide and the multi-family property investing seemed like the kind of investing I would be interested in (duplexes and triplexes) and potentially house flipping.

I have some background in real estate investing - primarily doing accounting work for individuals and commercial real estate developers.  I'm currently an IT consultant but worked at a CPA firm for 6 years before becoming a consultant.  I also owned a primary residence (condo) in Atlanta for 8 years before selling and moving to Denver.  My wife and I did some renovations to the condo ourselves and were able to sell it for a profit.

I'm looking for some guidance and a mentor to get started in real estate investing.  I would be willing to help with any bookkeeping, financial statement preparation and general tax advice.  I have prepared numerous Schedule E's, Form 1065's, Schedule K-1s and also worked on a couple of 1031 exchanges during my time at the CPA firms.

Any advice or resources for getting the ball rolling with real estate investing would be greatly appreciated!