All Forum Posts by: John Ringgold

Topeka, KS would be a good option as well!  Maybe not as many opportunities as our population is around 120k, however we can hit the 1% rule and the cost of purchasing a house is commonly 20% less than the KC area.  Let me know if you'd like to chat more about opportunities in Topeka!

I recently met with, and was impressed by Travis States at States Construction here in Topeka.  (785) 221-6279

Most of the contractors I know are flooded with work right now, but Travis took the time to take a look at a job and put together a bid for my client.  Although he was busy as well, he was willing to find a way to get this job in his schedule sooner rather than later.

What kind of work are you needing completed?  Full flip?

We recently bought a duplex and shortly before closing we found out the person living in the unit was actually subletting from the lease holder. After closing we notified the lease holder that their month to month lease would not be extended. She said she would make sure the people would be notified and would be gone by May 1. This week we get a call from the person living in the house stating that our lease holder did not notify them. We expected them to be out so we could begin demo.

If they don’t leave, what is the process to remove them. They never had a written lease with our lease holder so are they squatting or do they have additional rights?

Any help or guidance would be appreciated.

Where’s the best place to find a hard money lender? I have some buyers with $45k down and are looking at an $80k house.

Was thinking I could find lenders on BP, but am not finding it from the app on my phone.

@Jamie Hemme my understanding is that once a home is sold at the sheriffs sale, the previous owner does have a 90 day redemption period to satisfy the loan before you would actually own the home. In this case, an investor must have connected with the previous owner and offered to pay off the loan for the owner, and probably gave the owner a little extra to sign a quit claim deed over to the investor. I don’t believe there is anything that can be done, beyond tracking down the investor and making them an offer to buy the property from them for a quick profit in their pocket if you really love and want the home.

@Jimmy Chao yes!  I have one and have discussed the arrangement with the current owner.  He was simply happy the one tenant pays for both leases.

@John Mocker Great ideas, I'll startwith my insurance agent and 

@Pat L.  What is a commercialundefined

In a few weeks we will be closing on a duplex where both sides are rented by one individual with a month to month lease.  The young lady is a nurse and is using the other side to "sub-lease" to an elderly person where she can provide care for them by being right next door.

We are working on our new lease as this will be our first rental investment purchase.  The current landlord was okay with this arrangement, but we aren't sure this is a good idea.  Subleasing and running businesses don't seem to be suggested practices with leases.  

Would you allow this arrangement?  What are your thoughts and concerns?  

What is one thing you've added to your lease that may not be in the standard lease that has prevented a problem you had from happening again?  

Not looking for the specific wording unless you'd like to share, but the "why"behind the addition would be a good start. :)

In the process of purchasing our first duplex and we have the BP Lease for our state downloaded and ready to go, but I am hoping to learn from the more experienced to hopefully protect myself from issues from the beginning. 

Not looking for "legal advice" and will run anything we like by a lawyer, but I was hoping for your input.