All Forum Posts by: Christian Malesic

Unlike the past, my current leases with low-income tenants, though written, are now all month-to-month because that requires NO reason on my part to stop doing business with troublesome tenants.

This does not add up to me. Help me out.

Whether you have a day to day, month to month, year to year, or eternal lease - if a tenant does not pay and does not move out, your only recourse is eviction.

Are you saying something different here?

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Originally posted by "Typerider":

Here in NC we have a ten day pay or quit time frame, followed by ten or more days till court, followed by another ten days until I can file a writ of possession, followed BY ANOTHER SEVEN DAYS till the sheriff physically kicks them out.

Check with your lawyer...

We have a similar pay rent or quit clause in the PA Landlord Tenant Act (of some crazy number: like 30 days), but it is amendable via contractual language down to 3 days as per court precedent.

Our other time frames are similar to yours, though slightly different.

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Originally posted by "watchdawg47":

If so, can I legally run a background check on the tenant?

There is a good thread on this topic that started on 4 Dec 07 and is still going strong. Check it out.

Thread title:
How do you screen prospective tenants?

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Originally posted by "Primo_Coach":

I want to make sure I scare off professional tenants.

Professional tenants is what I want. Professional freeloaders or scam artists are another story.

Maybe that was your implication?

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Spacewaya,

In reading through the posts, I did not catch an answer to the question, "Can you raise the rents?"

They do seem low. How many bedrooms per unit? What are you calculating for the rent of each unit? Are we talking about a 1st floor, 2nd floor, 3rd floor situation or something different?

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Point B is good. Draw that out.

Point A puts the blame on them. They do not want the blame and will not take kindly to you doing so. Skip Point A.

Point C is exactly want LOCAL government officials are AGAINST. They want their investors to live within the city. Skip Point C.

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Ensure proper egress and work within local codes. Get a permit and use licensed trades!

There is nothing worse than having to tear something out because of non-conformity.

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Accountant to do S Corp taxes then Turbo Tax to do personal.

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Originally posted by "esnuts":

if any agents call me with good deals I let them keep the full commission as an incentive to bring me more good deals.

I have not had the fortune of any agent bringing me 'good deals'. Either the deals are 'bad'. Or, I already knew about them days prior to receiving their call.

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Through experience, does anyone have any ‘secrets’ or ‘tricks of the trade’ they are willing to share with making offers to Freddie Mac (HomeSteps)?

I am particularly interested in the amount of earnest money (good faith money) to present with our offer. I know Fannie Mae prefers 10% of offer compared to $500 which normally works with other REO offers.

PLEASE DO NOT RESPOND WITH BOOK KNOWLEDGE! We all have plenty of that.

I am looking for real tested methods. Thanks.

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All Forum Posts by: Christian Malesic

Christian Malesic has started 34 posts and replied 611 times.

Post: Cash for Keys

Post: Cash for Keys

Post: various questions on property insurance and tenants

Post: How do you screen prospective tenants?

Post: Help me understand this deal and 50%, 2% rule

Post: PLEASE HELP... pros of condo-conversions!

Post: Master Bedroom in finished basement?

Post: Tax Poll

Post: Don't Rely on Agents, Become One

Post: Secrets for Freddie Mac