All Forum Posts by: Account Closed

Laws may be different in other states, but as I stated, In California the landlords only have to pay the daily rate that your regular rent costs you. If your rent is $900 per month the landlord is only obligated to pay $900 / 30 = $30 per day and not one penny more even if a hotel room is $300 per night. No other per diem.

Don't know what state you are in? In California, landlords only have to reimburse tenants for the actual daily rate the tenant pays, regardless of the reason the tenant does not have access to their rental unit. If your rent is $900 per month, then divide that by 30 days and the landlord only has to pay you $30 per day. He does not have to pay the extra cost for a hotel and he does not have to pay you any allowance for meals or transportation. Just the $30 per day, or whatever your daily rate is.

I am a landlord and when mold is found in inside a residence the first thing I am concerned with is where the mold came from and who should pay the cost for remediation. In most cases, the tenant caused the mold by not keeping the unit clean, or by not ventilating the unit to reduce moisture. I am also a certified mold remediation contractor, a general contractor and I deal with mold almost every day.

The reason I blame most mold problems on tenants is because I am fairly certain that no mold was present when the tenant move in. There are 50 types of mold in the air 24/7 everywhere both inside residences and outside. It takes specific conditions for the mold to thrive i.e. not keeping a rental unit clean, not cleaning around showers, bathtubs and the tops of all plumbing fixtures. Tenants seldom care about turning on bathroom fans to get moisture out when showering, nor do they open windows when there is no fan. One major cause of mold growth in rental units is caused by dirty laundry all over the place.

As stated, when one of my tenants mentions the word mold I terminate their tenancy and if you are concerned about mold then I suggest that you move out because as I just stated their is always 50 types of mold in the air everywhere and something (maybe, you did) caused the mold to thrive. Either way, your best option so that you don't have to worry about the mold coming back is you should move out.

One important thing people don't realize is that it is 100% impossible to remove mold growth from inside a home. The remediation company will remove the exposed mold they have access to, but they leave every bit of mold that is between the cracks where lumber is attached to members. Guess what? The mold is still there waiting for the same conditions that caused it to thrive.

I am going to tell you one more thing about mold and everyone is going to say I am crazy. About 5 years ago there was two separate lawsuits in two separate states where tenants were suing their landlords because they said they were injured by toxic mold. The judges in both cases ruled that mold is not harmful to humans in any way. Mold was put on this earth to eat up all the cellulose materials, leaves and wood and if we did not have mold the world would probably be covered more wood and leaves more than 1,000 miles deep.

I have a clause in my rental contract (lease) that states something like; "Tenant has inspected rental unit and verifies that no visible mold is present. Tenant agrees to inspect rental unit for mold growth every 30 days and should mold grown become visible Tenant agrees to vacant rental unit, immediately, without any delay, at Tenant's expense and Landlord will reimburse Tenant any unused rent payment and Security Deposit minus costs for any damages caused by Tenant. Landlord will not be liable for any damages to personal property or illness caused by mold growth. To protection from mold related health issues and damages, Tenant should purchase a Renter's Insurance policy and consult with their physician.

This is a similar thread to one a few days ago. Why would a licensed real estate broker go through the trouble of getting a license, pay thousands of dollars and work hard to find a seller, write a contract with the seller and then give the opportunity to sell the property to an amateur who has no skin in the game and will most-likely mess the deal up so bad that the broker gets a bad reputation i.e. "never deal with this broker because he assigns his contracts over to amateur wholesalers".

Who told you that? Why would someone qualified for a loan have to ever wait with the exception of being a minor with no co-signor. Make the phone call to a bank!

Sorry! I don't know my dogs sizes. I forgot they look like little hot dogs (I think). No! I love to give tenants the opportunity to live in their unit with one pet. But, my personal experiences have been that tenants with more than one dog always resulted in odors and damage, as explained in the previous post and my regrets. Or... you need to get a $1,000 non-refundable cleaning deposit plus another $50 to $75 per month for the pets. If your tenants want to run a dog breeding business on your property then they can pay you, or move their business somewhere else.

I manage several properties and constantly evicting tenants only because they have too many personal items stored in their apartments so that we cannot have our pest control service keep their apartments pest free. Multiple dogs are much worse. But...you may have other factors or economic conditions that are different. I am not into letting my tenants thrash my apartments any more than what I can afford to offset my normal and expected costs to clean. It is all about dollars and sense. Do you benefit more...or less by allowing someone to run a dog breeding business on your property.

It looks like you answered your own questions. When you are not 100% positive that your numbers are perfect then don't be anxious to invest and keep your money in your pocket for a better deal.

Absolutely no!!! Do you really need the money that bad! Dogs under 30 pounds are okay, but larger dogs can cause damage, hair, odors and damages to the floor, cabinets, doors and yards that cost thousand of dollars to repair. And two dogs. And...then a litter load of stinky puppy poop!

No!  $100 per month profit is nothing and the first thing good investors calculate is the risk-to-reward. Your commercial units can be vacant for several more years. When renting commercials units you are betting (risking) that the tenants can make a profit and pay the rent. We (you) already know that a high percent of new businesses fail. Then, you have a vacant unit to clean and you can wait several more years.

There are many better places to put your money with a lessor risk-to-reward. Look at multi-unit residiential properties.

I have an image of the breakdown and I'm guessing that my ability to download images has been disabled.

You have to be joking about your numbers. If what you say is correct and you don't purchase this property I will fly to Texas tomorrow, pay you $20,000 and buy it myself.

If you spend $35k and put $70,000 down (20%) the ROI on your money the first year is only 2%, but over the first 10 years your ROI is 40% and every investor's dream.

You have to analyze a duplex that you are going to live in like a duplex where you rent both units because the rent you save from having to pay if you live in one unit is a realized profit.

Find me properties like this I will purchase them and make you rich.