All Forum Posts by: Jacob Beg

@Scott Mac If there wasn't a driveway on the other side which isn't visible in the picture, I would totally sign up to your mock up. What software or utility are you using?

I am 90% inclined towards painting the sidings even though I have a fairly decent margin. The basement caught fire few years ago and nothing much was done about it. This was purchased site unseen in an auction so it'll be interesting to see the full scale of damage.  

Having read the comments here, I am going to do all I can to avoid replacing the shingles and try painting instead. Is this simply a case of choosing a color and get a professional to paint the exterior for this type of siding or is there anything more in depth involved? I never really had to do with a property with shingle sidings. Most of the properties in our market have vinyl siding and one can easily paint over them. 

 I would say they are probably a 4 out of 10. What were you thinking?

Wow! I didn't think it would be this expensive. I don't think there is brick underneath (great tip though). I am painting vinyl siding on another house, but I am not sure if I can get away with painting the shingled siding. The current color is pretty awful. Hoping there is some other economical way to deal with this or it'll blow up my budget. 

Hi All-  I have purchased this property where the house needs major rehab. 

I am in two minds whether to do something about the dated exterior siding? I never had to change exterior siding before so also seeking opinions about what type of siding should I go with? This is a 2000 sq ft house and what sort of cost can one expect? I plan to flip this house. 

@Bruce Woodruff

I hear you completely. So I checked public records in the local courts and it appears that the mother was renting elsewhere while she was supposed to be on our lease and did not pay the rent on the other property. Weirdly, I remember speaking to someone by the name of the plaintiff who purported to be her landlord and confirmed that she had been paying on time. It appears that he just wanted to get rid of the issue and turned around and sued her for the rent owed. 

@David P. They paid on time for over 4 years and even throughout COVID. The credit scores at the time were quite low mainly due to medical collections etc and they all had good/stable jobs at the time. 

@Mindy Jensen The lease can be cancelled if the rent is not paid within 15 days, however, the attorney says that this clause is not enforceable. In other words, we can't terminate lease due to non-payment of rent. As for unauthorized persons, that would be breach of lease and a weaker ground. Even then, the court backlog is still a problem. 

I have offered cash for keys, move out assistance and all other forms of options to avoid litigation but this guy has figured out that he saves far more by dragging us through the court. The sad part is that years ago I gave these people a chance to move in the property despite them falling short of the typical renting criteria. 

We have hired an attorney but even the attorney can't control the court's severe backlogs and have advised to be prepared for 9 months or before possession is possible due to court and Sheriff's office schedule. This will run close to 25k-30K in rent arrears and of course any damage to the property. 

In the light of this issues, I am contemplating whether we should sign up as creditors who report to credit bureaus but Ii am sure one needs to consider compliance with other laws when reporting to credit bureaus etc. It is pretty crap that there seem to be very little we can do due to court backlogs. 

Fair point. Needed to hear that!

Thanks for the comments. 

The property was being managed by a piss poor property manager so I took over a few years ago and though there were late payments etc, the situation never got to this point. The property belonged to my elderly parent.

It appears that with the exception of the lease I have very little information on these people in terms of SS number or DOB etc. I attempted to obtain those details but the PM is non-cooperative. In hindsight, I should have asked for that information but it got overlooked somehow. 

Notices are served etc, I can see from their social media page that they are partying it up in Vegas/Miami etc., while being complemented on their amazing lifestyle. A part of me wants to name and shame on social medial but I am cognizant that it might lead to further trouble including damaging of property etc. In retrospect, we should have terminated lease some time back when the late payments became more of a norm. As someone else said it here, a mediocre tenant only gets worse so at the first sign of non-compliance one should be much more vigilant. 

The rent is $2800 per month and I can collect $3200 in fair market. He was pissed off that I am not renewing the lease and claims that he would have paid but for my serving of the termination notice. 

@JD Martin I am particularly disturbed because this is a source of my parents retirement. It feel very personal when you know someone has the money and is gainfully employed but won't pay because he knows he can hide behind the court backlog. 

Hi All- 

I have not dealt with an eviction for a very long time and I am dreading what's to come. The tenant is now in arrears for over $5600 and called today to shamelessly say that he is not going anywhere and won't be paying. As per the attorney, it is taking up to 9 months for rent arrears related evictions in this count. By that token, I am looking at a loss of close to 30K with attorney cost etc. 

Three people were on the lease and it appears that two of them have left without giving any notice. The last one at the property has other unauthorized people staying at the property. The lease ends in Sep,2022 and non-renewal notice is already served. Even then, the eviction procedures and court backlog means that I am staring a very large loss.

This is the other side of hunky dory and rosy picture of real estate investing. This guy has a job and makes decent money and have others staying at the property paying him money as well- of course, all under the table stuff. 

Tried to tell him that I can forego the rent if he moves out but why would he? The money he would save staying put, is a much bigger sum. 

Any ideas?