All Forum Posts by: Maggie Tasseron

Hey Chris:

Thanks for the update and I'm happy for you that it was mostly good news, main thing being that you got him OUT!. I don't blame you a bit for losing whatever faith you had in the judicial system; I myself have won suits twice against different ex-tenants and had them overturned by a bleeding heart appellate court judge. I sure don't understand how it is that he missed a court appearance and yet this thing is still dragging on; generally, here in California, if someone misses a court date, the judges automatically rule against them, but like you say, he has "friends". any sane person would think that having a case like yours on his record would be something this scumbag would want to avoid, but people like him literally don't care what anyone thinks about them even when it damages their livelihood. We just have to keep reminding ourselves that they are never winners and always losers, while we have our dignity and self-respect intact. All the best to you moving forward!

Hey Chris: Since this thread has just had new comments posted, we're all wondering what has happened with your POS tenant. As it's now about a year later, we hope for good news from you...hope you have time to give us an update.  All the best!

Steven, thanks for the heads-up! John Anderson poses the question/comment that "if you manage the property yourself, you would not have that problem? He may not have noticed that you live in Santa Ana, thus rely on property management companies. This is why I generally warn people to avoid buying investment properties that are not close by. Of course yours is an extreme example, but I've found that most of these companies are staffed with people who have no practical maintenance experience and at the very least this will lead to owners paying far too much for simple repairs. This ties in with my other favorite piece of advice which is that even if investors don't want or intend to do any improvement and repair work themselves, they need to at least learn as much as possible about these issues so as to be equipped to deal with vendors. I've owned rental and flip properties for 40 years and can't begin to tell you how much money I've saved just knowing when I'm getting bad advice or overpriced bids. All the best and thanks again for posting this.

 Hi Cheryl: I don't think that the "quiet enjoyment" issue is relevant at this time. I do understand that you have only a certain period of time to work on the property but as you're evicting them, I would not go near the place until they are out. Any time and money you spend improving it while they are still there could very well be a lost cause if they decide to get back at you. Just try your best to get them out as soon as possible and then take it from there.

As for the Shelby Co. Courthouse giving you bad information, I'm sure the entire landlord and tenants' act is online; whenever I have a choice between some nitwit in a cubicle quoting me the law, or going to the internet, I'd choose the latter any day. If you do decide to continue being a landlord, it sounds as though you could use some advice about how to screen tenants, but your plan to sell the property is probably a better idea; it's hard enough to manage property that's close to home, never mind one that's so far away.

Best of luck with it and good for you, coming to BP for advice...most of us have been in your shoes and we're all rooting for you!

I stopped using the "check in the mail" system many years ago as it's all too easy for a tenant to claim it's on the way when it is not. I've found that a direct deposit by tenants into my bank account works best...no excuses, they get a receipt at time of deposit, and it doesn't cost a dime.

Hi Manny: I also live in California and I've done unlawful detainers on my own. I would advise that before paying a lawyer a lot of money, you go online and read all there is about the process; all the forms and instructions are there so I'm sure you wouldn't have a problem figuring it out. If you want, you can tell your tenant that you are going to proceed with legal action; that probably won't get them out but it's always worth a try. Just on principal, I would never pay a tenant to get them out, but then I'm just not in favor of rewarding bad behavior and this only sets up the precedent for them to repeat their misdeeds in the future. Explain to them that a judgment against them will show up not only in their court records but also on their credit report, where it will stay for 7 years. They probably won't care, but like I said, it's worth a try. As for the lawyer's projected charge for a court appearance, it generally doesn't come to that as the tenants are usually gone before the sheriff arrives. You don't need to worry about representing yourself in court; they don't have any excuse for neglecting to pay their rent. Even if they've lost their jobs, you are not expected to turn into the Welfare Department. Judges can see the truth in most cases; they see it every day... Try to find out why they stopped paying rent; get as much in writing as you can (email has saved the day for me more than once); keep a timeline of everything, every phone call, every conversation; file your paperwork accurately and have it all with you, accompanied with a recap of events. Do all this and you should ensure success. Best of all, it will solidify your confidence in dealing with wayward tenants in the future. Best wishes to you in this and in all your endeavors!

I would never advise a rookie investor to start with an expensive piece of real estate, even if they thought they could afford it. Newbies just don't have the investing experience, and often they also lack the practical experience. I've often said that even if you don't intend to do any of the reno work or upkeep on your properties, you must have at least the knowledge about what is required; at the very least, you will be able to deal with contractors and minimize your risk of being ripped off. Acquiring this knowledge does not happen quickly, so if a novice has jumped into buying one expensive property, those carrying costs could prove to be a deal-breaker while they are educating themselves. Doing multiple properties, whether they be SFR's, complexes, or commercial, is great when you've built up your knowledge base and most importantly, have a trusted group of people to do the work required; it's just a matter of personal choice as to which kind or how many at one time.

My first piece of advice would be that you be completely honest with your landlord about what your goal is. If he doesn't want to sell the property to you now, are you going to start looking for a different property to buy? Don't expect that just because you have been a good tenant for a number of years, he will sell you the property at a discount; why would he, if he can get more from a stranger? You might first ask him what he wants for the property but before you do, I would suggest you try to get an idea of the market value by checking out comparable properties in your area. Talk with him about getting an appraisal as that would happen in any case if you do decide to make him an offer. Once you have a price established, you will know better what you want to do. Hopefully you and your landlord can come to a mutually beneficial agreement, whether or not you buy from him. You also need to consider whether your relationship with your roommates will change should you become their landlord. Best of luck to you!

 I wonder what her reaction will be when you come home with that first big check from a successful deal. Too bad she can't give you the benefit of the doubt in the meantime. Best of luck to you and your dreams!

You are so right about FICO scores not telling the whole story. The problem with credit reports is that they do not contain information about assets. My own FICO, while not terrible, is lower than my credibility as I have a couple of HELOC's which I maxed out when the bubble burst as I heard rumbles about banks freezing them. I put the money into CD's, where it still is. As a result, my credit report shows only the amount I owe, but states nothing about the fact that I still have that money invested, along with equity on several properties. Your comment about the late payments and timeframe is spot on... there are people who eventually get their act together but the ones who are still making late payments aren't among them. Thanks for your comment!