All Forum Posts by: James W.

 THAT is a big deal. Thanks for mentioning it, I'll have to start there to determine what I can and cannot do.

Thanks :)

Thanks Rob, that's a good start.

What kind of arrangements are made between owners/managers? If the tenant is evicted, and there are repairs that need to be made, is that the owner's responsibility? Do I handle it and then invoice them? Is the 10% supposed to cover my expenses of getting the place re-rented, or is that an extra expense for the owner?

 Why is it hard to get financing that way?

I have almost 20 LLCs, with 15 of them being some kind of "rental" property. I have no problem getting financing, provided I put up 15-20% of the LTV in cash or assets and I also personally guarantee the loans.

I have a person that has a couple properties he doesn't want to manage.

From what I gather, the tenant used to work for him and as such they have a personal relationship that is causing issues. The tenant isn't the best, and what really needs to happen is the tenant should be evicted, but he doesn't want to be the bad guy.

I'm ok with being the bad guy. Rent is late, I send out a notice. Notice is ignored, I send out an eviction. No problem.

What is the standard fee to take over all this stuff as a "Property Manager"? 

Any feedback is appreciated! 

 Hey Ralph, thanks for the constructive comment. 

I'm actually out of town right now and don't know about their ultimate intentions. I know they need the money, so I told them if they were out by Thursday with no damage id give them back every penny by Friday and they wouldn't be making life harder on themselves in the future. 

Hopefully that's the incentive they need, but I guess we will see :)

Either way I'm not terribly concerned. Luckily I'm not pinching pennies. 

Ok now this is getting comedic 😜

I'm happy with the information I've gleaned from some of the responses here amidst the rest of the fluff. 

If someone else could please re-reiterate the error of my ways, it will make my day. 

 Is this a gambling forum? That should answer your question and begs another question - why would you bother asking something so silly? I'm sure you have better things to do than talk down to people you don't know in situations you don't fully understand. 

Before anyone else decides to impart wisdom upon me, can I just say I don't need or want your criticism, lecturing, or philosophical land lording advice?

I know the mistake I made, there's no point in continuing to beat that dead horse. 

The only productive direction this thread can take is discussing what to do with the situation at hand. 

If anyone hasn't taken the time to read all of my posts in this thread, you're really just wasting your time here. 

Of course, it's good for the postcount... If that's what one is after. 

With that said, I'm off to make 20 good decisions and at least one more bad one. 

Cheers :)

 I wasn't offended, but wanted to make a point about how some people are responding. 

It's tough to pick up on nuances over the internet, and I figured you could take a jab if you weren't being serious - no apology needed, bud! But I accept anyway. On my part, I apologize for singling you out. 

For the record, it's not a "problem" - I don't view these things as "problems". They are just situations in search of a solution, and the people that find solutions get wealthy while those that have "problems" vote for people like Obama, Bernie, and Hillary. 

Yeah, I went there. Lol! ;)

Happy Sunday everyone!

 I agree with the "professional tenant" part, or at least they are aspiring to be so. I got a sob story, an apology, a promise to do anything it takes to make things right... I declined. I know I made a mistake, and I'm putting an end to it as quickly and painlessly as possible.

About getting sued... that was my thought too. After these initial games, I can just see one of them purposely falling down the stairs or something stupid.

:P

Go big or go home is what I say. ;)