All Forum Posts by: John McKinnon

Thanks!

I heard on the podcast that you can apply to be on the podcast. I have a great story and Im on my 4th deal now. Totally reapatable process for the average family. How can I apply to tell my story?

Thanks!

The affidavid is for the eviction costs, not damage to the property.

We recently went through the eviction process in NH. After the damand for rent and eviction noticed expired, an affidavid for damages was issued. The eviction went all the way to court. During the process the tenant paid partial rent, plus the damages, yet never paid the full rent. Due to a techincality, the eviction was dissmissed by the judge. The tenant is now claiming that she should never have paid the damages and she is trying to deduct from the back rent she still owes us. Our understanding is the damages are still required to be paid as well as the full back rent. Is this correct in NH?

Also, we are looking for a good attorney familar with NH landlord/tenant laws. PM if you are an attorney practicing in NH (concord area) and are looking for another client.
 

We recently closed on a new 5 unit property in Concord NH. During the home inspection, one of the units had marijuana spread all over the coffee table. Not sure if we're talking illegal amounts, but it was strewn about and a mess (on the table and the carpet). Sure enough at the final walk thru it was a similar scene. Both times I didnt have a chance to meet the tenant. Now that we have closed, we're contacting the tenants to fill our info forms (found on BP!) and will start making leases for the new tenants. What do the new marijuana laws allow? 

1.) If its just for recreational use can we ban it from the property. We have a section on illegal drugs, yet, marijuana is a grey area. We do not want smoking of any type. I wouldnt care if they were making brownies or something like that... certainly not trying to hide it though.

2.) What if they have a medical card? I am sure I can still ban smoking right? I have a buddy with a medical card and he buys cookies and brownies and other non-smoking types.

What other matters on the topic am I forgetting? If all else fails, hes a tenant at will and I can just evict him if Im not happy.

Thanks Dieggo, I may take you up on that. Truly Im looking for a full package. My wife and I work full time and Id rather not be taking too much time off to let different people in and have to deal with that end of it. Whats your experience on rehab, if you want to be hands off, are you best getting a single contractor to handle it all?

Do you know any contractors in the Concord NH area?

Closing on my first property tomorrow in Concord NH and I just received my first quote for finishing the rehab on the studio unit on the second floor. The 3 room unit (kitchen, bath, living room) is partially rehabed. The bath only requires adding a fan and putting toilet and sink back in. The kitchen needs the ceiling replaced floor replaced walls touched up and a few other little items. The living room is done. The contractor, who comes recommended by a BP member and as a heavy construction contractor he speaks my language, and I see us developing a long relationship. When he gave me the pricing to finish the unit I was a bit taken a back. The studio is about 360 SQ and the rehab cost is $11,500-$12,000. He said it could be lower, but thats what he quoted. Thats about $32/SQ. All appliances, toilet sinks, etc are existing. Just as a gut feeling, does this sound reasonable. Everything I know tells me to get another price, but based on the reference and my interaction with him, I think hes fair. Just looking for the communities feedback.

Another point to add, which I think I like; He isnt quoting a set price. He works off the cost of materials and an hourly rate for his crew, which is based upon the crew onsite and their time. What experience do you have with this. Would you rather a set price or have the contractor work on a T&M basis?

I appreciate all the feed back. We are closing in a week and are trying to get all our ducks in a row. When the property transfers to us, how are rents handled for the month? Is the rent transferred and pro-rated basis on a daily basis or is the rent just left or the previous owner? 

Also, the current tenants are both on a month to month and their rents are actually higher than disclosed preciously. We have a fair amount of work to do to put he third unit (vacant currently) on the market. We are going to keep the rents where they are until we get the big repairs completed and have a chance to feel out the tenants... and our new role as property managers.

Great input guys. I agree with @Patrick M.,  if the past landlord has been lax they may need to move on. @Peter M., I like to idea of shorter leases to augment the increases and repairs and give time to size up the existing tenants. @Matthew Olszak thanks for providing a sample letter.

I look forward to hearing what others have to say also.