All Forum Posts by: Jeff Sprunger

have you considered capital gains tax on the flip? could be as much as 28%. renting for 2 years may make this a sweet deal, then sell to avoid capital loss.

you paid $500 for the privilege of having your pet at their property. you paid $30 pet rent, because the pet also takes up space. the 500 is clearly identified as nonrefundable. does the lease say anything about how pet rent is applied, or was it just pure profit to the owner? did you also pay a pet deposit? normally the 500 nonrefundable deposit is used to clean carpets, at the very least. at the least, make them give you an itemized list and receipts of how the deposit was applied. as with any advice, im no lawyer...so, CYA, call your attorney!

when i was a young agent, i volunteered for the on call floor person as much as i could. that way, you get every call that comes in looking for info. also, i volunteered to sit at other rwaltors open houses for them. i would ask everyone at the open house if they were alrwady working with an agent or not, and give them my business card. also, become the expert in your area. you should know what is on the market. what just sold. good school districts, bad one. stores in the area. how long are houses sitting on the market befor they sell. etc, etc, etc. good luck. persistence is the key!

but, you need to pay the city. you own the property! she is essentially reimbursing you. if she doesnt, evict!

Originally posted by @Quintin Surfus:

Sure will. I am actually renting a spare room out to a friend right now on my side. But I have a question. How much responsibility can I or should I put on the tenant in a lease/rental agreement?

not exactly sure what you mean by "responsibility" on the tenant.  it is a 50-50% partnership between you and the tenant.  he agrees to live up to the terms of the lease, pay rent on time and not trash the place.  you agree to provide a safe, clean and comfortable place for him to live.  your lease should be very thorough.  spell out everything and don't leave things up to question.  (search around here for suggestions on what to add to you lease).  don't ever waver from the lease.  if it's in the lease, you make references like, "Gee, I'd sure like to allow you to paint the rooms purple, but our lease clearing states..." or something like that.  put all the responsibility back on the tenant to follow the lease.  you should also have your friend sign a lease, although it may be a little more lax since you have to live with the guy.  and don't be afraid to "lose the friend" when things go south!

I would start with the county clerk and file an eviction (I'm cheap, so want to avoid the attorney if I can).  this thing may drag out though, so be prepared.  it may go all the way to the sheriff dragging this guy (family) out.  do everything by the book.  send them notice to vacate via certified mail, regular mail and post it on the property.  send them your contact information, so, if they choose to, they know who to reach (lash) out to.  look up your tenant/landlord laws and follow the process outlined there. 

good luck.

samantha klein nailed it. foundation issues could double your estimated rehab budget. hire the engineer. ask for a bigger discount!

you got to let her go man!

Originally posted by @Laurence K.:

Hmmm, try the Hells Angels eviction department.

OOOOHHHH!  a few beers, a couple buddies, black ski masks and baseball bats!!! I like where your heads at...

an old ACDC songs comes to mind!!! "you got a lady and you want her gone, but you ain't got the guts..." (you know you are all singing it now!)

talk to your lawyer and cooperate with the police.  not really much else you can do about it!