All Forum Posts by: Bill Graham

Steve, Yes if I catch the sympathetic tenants again, they will be served. (they have been warned...)

Joel, First thing the PD looked for was "theft of services". It wasn't that. Just neighbors feeling bad for them.

I thought about the candles too. But I don't think there is much I can do about that. Hopefully they will be out soon.

Hello all,

I have a Tenant who is in the process of being evicted. He has been served 3 times in the last few months. He agreed (and signed statement) to move out by the 15th of this month, but apparently Legal-Aid suggested he just stay. My atty says serve him notice again. I did... We need to give him a week before court.

Problem is he hasn't paid his power bill and the Co. shut him off. Now I have found extension cords, plugged together and running to down stairs apt. Of course I am concerned of the fire hazard.

I have warned the other tenants in the building not to do it, but it has become a cat and mouse game. He sees me coming, he pulls them in.

I have had the PD to the building because he was accused of stealing someone else's ex. cord. They agree... Fire Hazard but nothing they can do.

Anyone have any suggestions for this one?

Thanks

Thanks for the tip Gary. I do have a number of those that didn't leave messages.

I recently started my first Direct Marketing Campaign. I am specifically looking for Multi's in my town. So, I created a list from the public Tax records.

So far I have sent out about 65 letters and I have been getting some calls. Maybe a half dozen in total. I decided to let them all go to voice-mail as I work a full time job. Some people don't leave messages and I figure they are not motivated, or their hiding something so I haven't called them back.

I have had 3 very productive phone conversations. I'm just a local investor, not trying to rob anyone, but can't over pay. The problem I see is they are looking for a wealthy, first time buyer and I am looking for a motivated seller. Of the 2 proposals I have looked at so far, the sales price has been 6-8% cap. I am looking for 15%, maybe 12%.

Can anyone offer me some advice on how to bridge this gap?

Thanks

Pat,

Take a look at Landlord Max. For a 1 time cost of $165, and you own it, it's a pretty good deal. It is not on the cloud and that's just one reason why I like it. Isn't the IRS/NSA in the cloud? I have been using it for about 7-8 years. My accountant loves my reports. I tried buildiam last year for a couple months and wound up going back to LL Max. (manage 34 units)

Good Luck

850 by end of 2014... Now I'm Jealous!

Duncan, That was a great reply. It's a big dose of humility to swallow. When I was starting out I kept it very low key. After getting some of those "oh... you want to be a slumlord" comments I learned to keep it to myself.

Today, I still work a full time job, but with 27 units the atmosphere is completely different. The boss has found a new respect for me. Maybe he has realized I don't need him like I did before.

The biggest hurtle was my parents. They were just not on-board and never will be. They are worried I might loose everything. Like I had anything to start with. :)

Rent-On

Well, it finally happened... After a month of negotiating with Freddie Mac, on a Homepath, 4 unit property, they accepted my offer.

Then 4 and 1/2 hours later I received an e-mail. They rejected the offer. I now have 2 Homepath, offer sheets. One good, one bad.... I have not returned the signed P&S and addendum yet. Do I have a deal? or no deal??? Is there anything here I can enforce?

I lost money with the seller's Realtor some years ago, so I worry he may be shopping my offer.

Does anyone have any suggesions to pull this deal together?

Thanks

Good point Tom. Here in the wording in my lease.... I think I should probably serve them again.

Payment or receipt of rent of less than the amount stated in the lease shall be deemed nothing more than partial payment on account. Under no circumstances shall OWNER/AGENT’s acceptance of a partial payment constitute accord and satisfaction or forfeit OWNER/AGENT’s right to collect what would otherwise be the balance due, despite any endorsement, stipulation, or other statement on any check.

I collect weekly for my low income tenants. Most of them seem to appreciate it. I have one who has been with me a long time now. Always a little late, always gets caught up. That is until the roommate moved out. This tenant asked me for a 1 bedroom I had available, to make it easier on her. I agreed.
In May she got behind approx. 3 weeks rent. I served her eviction papers. She called to tell me she had gone to the city welfare office, and they were going to pay me the arearage. Needless to say they have not. She did however pay 2 weeks rent in the mean time. She is still behind by 3 weeks rent.
Today is the day we agreed on as a "drop dead date". Today she says she'll have some rent money on Friday.
My question is.... since I have taken rent money from her, did I establish a new tenancy? or, can I move forward and file for an LT Writ? or, Do I have to serve her another Demand for rent & Eviction Notice?
Thanks