All Forum Posts by: Joey Buono

@Mike Wood thanks for the heads up, ill take a look

thanks @Scott M., when offering cash for keys do you typically ask for a clean exit of them as part of the deal?

Wondering if I can get some feedback on this. My first buy and hold rental property hasnt been very consistent at all, but because of covid relief assistance offered by MIFA, I was able to receive all of my owed rent.. until tenant stopped paying again.

I got this property in June 2020. Right away I did not receive rent for July. August I received 1.5 months rent, so not all of what I was owed. Sept less than 1months rent, so at this point tenant still owes over $800. My management is not telling me whats going on. After making a few calls asking for what the deal is, they get back to me that the tenant lost her job during covid shut downs and had to pick up 2 jobs but should be good to pay now. Sucks for me, but understandable during that time. but the tenant goes on to not pay rent for the next 6 months.. and cant be evicted because of the eviction moratorium. obviously I want to evict when I can at this point but then in April a memphis city assistance program pays me all my owed rent... so I cant complain at that point, i got all my money. Although for personal planning id much rather have consistent monthly payments.. My management tells me the tenant should be good to pay now going forward. Tenant pays 2 months in a row herself for the first time all year since owning this property and now in June... no payment..

As a new investor, Im just not what I should be thinking here... This tenant obviously doesnt have the ability or desire to pay rent and I want to evict, but on the other hand, because of city assistance paying me back everything in April, im really only down one month.. Should I be pushing for eviction here? Meanwhile I asked my management what the deal is with Junes rent missing, they said they get back to me and that was 8 days ago.. do I have property management issue here?

Below is a screen shot of the tenants statements
  red=missed payment
  purple=partial payment
  yellow=payment, but not by tenant
  green=tenant paid in full

@Caleb Parr Thanks, ill send a DM!

Been having a real hard time getting any response back from realtors in Memphis, I figured Id see if Biggerpockets could yield better results for me. Im trying to find a realtor who's willing and has experience working with out of state investors. Im not a Memphis expert but I know the areas decently well as Ive been there a few times. I own one rental in Whitehaven and looking to add another in the next few months. My parents own one rental as well and they're looking to get about 3 more this year. We work with a turnkey company but inventory on all turnkey providers in Memphis are practically non existent right now and anything new is reserved before it hits the pages. Were looking at the MLS and able to find some ready good fits every couple of days but we have no realtor to submit an offer for us or help give some feedback.

Any help or advice is greatly appreciated!