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All Forum Posts by: Jim Butterfield

Jim Butterfield has started 10 posts and replied 57 times.

Post: Eviction / Squatters in Oregon

Jim Butterfield
Pro Member
Posted
  • Rental Property Investor
  • Cornelius, OR
  • Posts 58
  • Votes 26

My neighbour up the street wants to sell her house. In a nut shell

she moved out, left her husband and son to live in it  - He passed, son still lives there. The house is trashed, he is locked out of the home, but living in a camper on the property. I called the cops, they know of the home from recent history. Officer said he has tennancy living there for over a year now. So an eviction is needed. Meanwhile the son invited a friend to live with him in the camper. The son is now in jail. only the friends are living there. Local sheriff said its not a criminal matter, they cant do anything without judges orders.

She still wants them off property. Any good ideas on how to remove them? 

Post: So many homes for sale!

Jim Butterfield
Pro Member
Posted
  • Rental Property Investor
  • Cornelius, OR
  • Posts 58
  • Votes 26

I was talking to my realtor here in Oregon yesterday about a potential fix and flip house, she said there is only 1.2 months inventory in Portland Metro area. Pretty tight

Post: I bought an investment property w/o viewing

Jim Butterfield
Pro Member
Posted
  • Rental Property Investor
  • Cornelius, OR
  • Posts 58
  • Votes 26

You should definalty have an out after inspection. the agent is wanting you to bring up all your concerns at 1 time, not this today, and that tomorrow. Its a negotiation strategy. bring everything to the table at one time. I can understand that. As for the yard, did you not see this before the contract started? Was it just pictures you viewed of the unit at first? Typicaly having hard evidence of problems vs just your impression or thoughts is the best way for seller to take you more seriously. having that report describing issues, is more credible than just "hey you should fix this and that". 

Post: I bought an investment property w/o viewing

Jim Butterfield
Pro Member
Posted
  • Rental Property Investor
  • Cornelius, OR
  • Posts 58
  • Votes 26

I would be leary of buying without personally inspecting it, or your agent inspecting it. Someone on your side should look. I didn't get a look at 2 duplexes we bought 2 yr ago, been nothing but a money pit with all the little fixes here and there. Recently dumped them. I learned, go look inside, or get someone you trust to view and report back. 

Post: So many homes for sale!

Jim Butterfield
Pro Member
Posted
  • Rental Property Investor
  • Cornelius, OR
  • Posts 58
  • Votes 26

We are in process of purchasing in OKC, its tight market there... houses go up for sale, and pending in just a few days. Had to get aggressive on 1 offer. 

Post: Tenant signs lease but doesn't pay first month & security?

Jim Butterfield
Pro Member
Posted
  • Rental Property Investor
  • Cornelius, OR
  • Posts 58
  • Votes 26

yup yup, just as ohers have said... dont give keys unless they have paid your rents / fees / deposits...

Post: Does Tenant Sign Rental Agreement The Same Day They Give Deposit?

Jim Butterfield
Pro Member
Posted
  • Rental Property Investor
  • Cornelius, OR
  • Posts 58
  • Votes 26

for me its a economy issue... if I have many qualified applicants, then I want deposit and 1st month rent  before keys...dont want to loose out on rental income. if the market is slow, then I might give my only lead a little time if he HAS given me deposit money... 

Post: Provide washer/dryer for tenant?

Jim Butterfield
Pro Member
Posted
  • Rental Property Investor
  • Cornelius, OR
  • Posts 58
  • Votes 26

In my rental history.. .9 few homes and few apartments) typically washer and dryer is available to the tenants of apartments, either in home, or in washroom on the property. Rental homes, that is different, if you are renting  a home, then u are more responsible for your appliances, washer dryers and frig. So bottom line, in my 4 plex, i have in unit washer dryers. Yes more cost for repairs, however I have had good luck with quality units. As for my homes, i don't supply washer / dryers and or refrigerators. 

Post: Creatvie financing on 3 duplex units

Jim Butterfield
Pro Member
Posted
  • Rental Property Investor
  • Cornelius, OR
  • Posts 58
  • Votes 26

@Steve Vaughan excellent idea... I will make that as an offer to them. Didn't even think about them carrying the note for little while... the units have been on the market for a few days already. 

Post: Existing tenants and utilities

Jim Butterfield
Pro Member
Posted
  • Rental Property Investor
  • Cornelius, OR
  • Posts 58
  • Votes 26

let me say this... in Oregon, you are purchasing a property, any lease agreement is binding to you, the new owner. Also, I tend to follow the norm for who pays what. Another factor, if there is a common meter, you cant make a single unit pay for it. Example, my 4 plex has a single water meter, and individual power meters. So I pay water and tenants pay there own power. hope this helps