All Forum Posts by: Jamie Hoth

I would put a offering in writing with whatever number works for you. It is all talk until a proper offer is written. Building a relationship going forward has major upside potential but only if your dealing with reasonable people and numbers that work. Put your offer in at the amount amount you want and just see what happens. At least it starts a more serious conversation. I would include a description of why your offer is what it is with reflecting numbers that has always helped me.

I am looking for help on ways other landlords collect charges for Maintenance issues caused by tenants. We do have these items spelled out in our lease and the lease was created with the help of our attorney who specializing in real estate. I am specifically talking about things that happen during the lease time while the tenant is occupying the property such as broken windows, door locks, toilet/drain clogged etc. All of these items would 100% be the responsibility of the tenant per our lease. The tenant reports these needs we make the repairs in house (we self manage) or send contractors depending on the situation and then cover all of the cost upfront. We do have a separate sheet along with our lease that is signed at move in just describing basic common charges for these items blinds/broken glass/ drain issues etc. The problem we are trying to figure out is most of the time the tenants refuse to pay these charges and most say to "Take it out of my deposit" this of course is against what is in the signed lease. When its a $150 bill from a drain service it puts us in the bad spot. We don't want to wait to get reimbursed for the expenses which were not general maintenance but caused by the occupants. We also don't want to loose a portion of a paid deposit which is almost always completely used up with the repairs due to move out condition. We really are in need of a practical way to enforce and collect small fees that are fair and agreed upon at move in. I have looked through the forums and got some information but was not able to find a lot on this specific kind of question. Any thoughts or practices others have would be appreciated. 

Thanks

If your worried about the "Mold" contact your insurance company you should be covered by them for that. However it is very unlikely that could happen they would have to prove it was mold and prove beyond doubt that it has affected them. I have had several tenants with any mildew or dark spot anywhere on the property try to use that as leverage for there situation just part of the business. Other than that I agree with all that have said just use a lawyer and do not respond to any contact other than maintenance calls. Could try a Cash For Keys exit. The walk through bring a 3rd party witness someone they don't know (friend or family member) don't introduce them and just be polite and get through it. Good luck. 

I got my first property back in 2010 (single family) while I was living in a apartment. I lived in that apartment for the next 5 years and ended up buying several more properties. Back then I was buying anything I could get my hands on that was 50K or less with improvements. I put all of them on a 15 year note at 5.5%. I later was able to do a rate modification to lower amount. Starting off with those less expensive properties on a shorter term has been beneficial to my overall growth. Time flies!!

Thanks! We another unit in Indian Shores near Clearwater and we started looking down there but could not find anything in the price range we had to work with. We eventually were told to go to Panama City and you will get way more bang for your buck. They seemed to be correct.

I recently closed on a unit in the Shores of Panama a 2 BD/2B it has only been a few months but so far it is going great.

@Tal Shachar

I have had good luck with using Sash Springs. Replacement is always best but these work good depending on your application. It gets the window working and keeps it up and in place. There simple, inexpensive and easy to install. This may be a option while you so more research on the windows and with material cost where there are right now might be worth considering. If you add one or two of these depending on how many you need on the size of window you can always replace broken glass switch to tempered etc. for much less then replacement. These have been a life saver to me for a quick same-day repair or even to get through a rental inspection or make ready while waiting on ordered windows (lead times are horrible right now).

Land can be a great investment however it can be more challenging with the lending depending on how you intend to finance it without having a structure as a assest. And be sure to check with the local building department and get a written copy of the zoing use of the land so you are 100% sure of what it can be used for, modular container homes are not always allowed etc. Good luck!

I have had good luck with writing a explanation of why your offer is what it is like 325k minus this because because of that and so on it gives everyone a idea of where your coming from vs a low-ball looking offer without explanation. The fact your a neighbor and knew the previous owner is a benefit and I would mention those things as well. However a flat no without counter offer is bad likely means they were not happy with the offer think about that when you go back to them and try to come up with a win win. Just my thoughts. Good Luck!

Do you have direct contact with the seller or do you have to work with there lawyer directly?