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All Forum Posts by: Christian Malesic

Christian Malesic has started 34 posts and replied 611 times.

Post: "Pay Rent or Quit" Notice

Christian MalesicPosted
  • Real Estate Investor
  • Harrisburg, PA
  • Posts 716
  • Votes 41

In the effort of continuous improvement, I ask the following...

When tenants are late we post the standard Pay Rent or Quit notice or their door. Sometimes this works and we get paid, other times it just begins the long process of eviction.

The problem is this: Pay Rent or Quit is legal gobblygook. Tenants do not understnad the or Quit part.

Does anyone know if we have to use these words, or can we title the form Pay Rent or Move Out?

Post: 8 Landlord Horror Stories

Christian MalesicPosted
  • Real Estate Investor
  • Harrisburg, PA
  • Posts 716
  • Votes 41

How about....

Our property manager got a call in the middle of the night from the police followed by a call a few minutes later from the landlord of the property adjoining ours (other side of two story duplex).

Apparently, our tenant had taken in a stray... man that is. He was a rough, tough kinda fella with all the baggage: Felony, jail time, and current drug dealer. Of course, he was not on the lease, nor did we know of him until this incident.

The rival bad guy drug dealers came after him that night and he apparently pulled out his mondo gun and shot a warning shot... diagonally through the wall, but at a 50 degree angle upwards into the neighboring apartment. Luckily no one was hurt.

Within days, our tenant realized he was abusive and worked with us to break the lease and disappear into a shelter. It worked out ok in the end, except for an unexpected broken lease with no remuneration and having to quickly advertise for a new tenant. Nothing more ever became of the situation.

We kept the bullet hole so we could spy on the neighboring tenant. :D Just kidding. A little joint compound goes a long way.

Post: Range vents

Christian MalesicPosted
  • Real Estate Investor
  • Harrisburg, PA
  • Posts 716
  • Votes 41

As long as the filters are cleaned or replaced regularly (usually cleaned as they are mostly the metal kind) there should not be a problem.

What is the unwritten alternative you imply? To pierce the roof or outside walls for venting? Now you have a leaking hazard that invites rodents and loses heat/AC.

I like range hoods and install or replace them in all of my places. It comes with the whole updating the kitchen philosophy.

Post: Help track down Fannie Mae Asset Manager

Christian MalesicPosted
  • Real Estate Investor
  • Harrisburg, PA
  • Posts 716
  • Votes 41
Originally posted by "REI":
With some agencies they will not take offers until X days have passed. Or they will collect all offers for X days before any replies to any bidder. They want to make sure that all possible bids are received rather than make a decisions on a First In, First Out (FIFO) basis.

Lets see how it goes.

I have given up no hope and contiunue to stay on top of this. So far the problem has not been with the agency (ie Asset Manager), it has been with the Realtor they have selected to represent them. As stated in one of my earlier posts, they (the AM) did counter (granted it was a sad and pathetic counter which leads one back to what you said). The prob is working through the Realtor. I beleive I have put a fire under him, though I have made no friends in the process.

I will keep you posted.

Post: Help track down Fannie Mae Asset Manager

Christian MalesicPosted
  • Real Estate Investor
  • Harrisburg, PA
  • Posts 716
  • Votes 41

I spoke with the Asset Manager today. I basicly called everyday, every number, every question I could think of. Finally, he actually called me.

Is was all for naught, though. All I learned through the process was that they WILL NOT DEAL. They are not allowed to, supposedly.

Everything must be done on the open market through Relators.

There is now a competitve bid situation (since it took 10 days to get my bid in and response). I want the property bad, but will not go high just out of fear of losing it. I bid my number, rejected their full price counter, and recountered by agreeing to a 10% earnest deposit and bumping up my bid a few thou. I present an all cash deal with no contingencies and a fast close - it can not get any better than that!

I am still convinced that I would have a contract by now if it were not for incompetent Realtors.

Newbies... beware of incompetent agents. Speed is paramount. Do not ever let the delay be on you part... hurry up and wait.

Post: Not working for me

Christian MalesicPosted
  • Real Estate Investor
  • Harrisburg, PA
  • Posts 716
  • Votes 41

Mark All Topics Read does not seem to do anything. Am I missing something?

Great site! I hate to nitpick.

Post: The realtor/investor trap - how do I work this?

Christian MalesicPosted
  • Real Estate Investor
  • Harrisburg, PA
  • Posts 716
  • Votes 41
Originally posted by "kenvest":
you can pay anybody anything you want as long as it fully disclosed in the contract, the funds are accounted for on the HUD1 form and paid out of the closing proceeds.

I am not going to SAY YOU ARE WRONG, but before any Realtor takes you up on this they are wise to check with their broker and/or attorney. My wife is a Realtor, exclusive for me and our REI biz, and through her training she was instructed to disclose and not collect.

Maybe you are on to an angle that is a legit end-around... it has me wondering. Minna, check it out carefully in your state.

Post: Hi There - New from Harrisburg PA....

Christian MalesicPosted
  • Real Estate Investor
  • Harrisburg, PA
  • Posts 716
  • Votes 41
Originally posted by "EricFoster":
I have had pretty good luck finding guys for my smaller jobs from the ads in the newspaper.

On the little stuff, I use it as a test for contrators I have never tried before. Try The Guide and the East Shore Shopper. Stay away from The Paxton Herald IMHO.

PS - I have properties in Harrisburg, Steelton, Highspire, and Lower Paxton.

Have we ever met at LIMG or CARPOA?

Post: Greetings: Lancaster, PA

Christian MalesicPosted
  • Real Estate Investor
  • Harrisburg, PA
  • Posts 716
  • Votes 41

Hello and welcome.

There are not a lot of us PA midstaters here, but there are a few. Let me know if I can help in any way.

Post: Finding Contractors - Pick Any 2 of 3

Christian MalesicPosted
  • Real Estate Investor
  • Harrisburg, PA
  • Posts 716
  • Votes 41
Originally posted by "OGStilts":
This is why I think it is so important to build a large database of contractors who you are familiar with and don't get lazy when assigning a job

This is the real solution to all those reading this thread and not quite knowing how to jump in.

Accept the 2 of 3 concept. The normal reaction is to try to beat it (possible, but not probable - especially for sustained periods).

Put your database together. When your A team is not the choice for one reason or another, either go B team or even try out a new walk on.