All Forum Posts by: Jimmy Chao

I got a tenant that was supposed to be out end of month. They said they need an extra day to fully move out due to  a broken car. What are my options here? Is it possible to charge 1 day worth rent/utilities or take from deposit?

@Chris Seveney @Ken M. got it, thank you both.

I am weighing some options to help my younger brother buying his first primary with a fixer. I was told by another investor that I will run into a seasoning problem, but i don't see how if i don't plan on refinancing. I just wanted to get some confirmation from BP crowd. What do you guys think? This is the scenario:

I buy a fixer with some hard-money. Before seasoning period ends, I want to sell to my younger brother who purchases with conventional mortgage.

Is there anything wrong with this idea?

I have 2 recurring charges - Rent and another for sewer and trash. They have paid the rent this month, but not the sewer + trash. I am wondering how to handle this and if a late-charge is needed.

The lease states the sewer + trash payment under "Additional Monies" and is addition to rent. I am a little unsure based on the verbage if this is lease.

@Alex Olson Thank you. Do you have any referrals for builders?

I have a rental in a large lot - easily enough to subdivide to 2 parcels, plus the house sits at the edge of the lot. Does anyone have a rough ballpark $/SF range for new builds?

@Lorien Rollins Love your advice, much appreciated!

Thanks @Andrew Postell. Lease actually ends in March 2024, which is start of busy season. But 6-month extension would take us into Fall, which isn't too bad, but definitely slower here.

Got a tenant with a lease ending in March 2024. They are great tenants. We plan on moving into the property as a primary in early 2025, so it would be perfect if they renew for another 12 months. However, they stated they are considering other options and asked for a 6-month extension. The last thing I want is a turnover, and it will put our move-in plans in a tricky spot. I am considering trying to persuade them to 12-months with same rental rate vs a 6-months with higher rate. Or just do a hard stance on 12-months or have them move out? 

I am looking to change property managers, but my current tenant owes few hundred in late fees to my current PM. Does this add any complications when switching PMs?