Hi, guys, I am very appreciated that so many of you are there to give me advise and recommendations and express your thoughts, your feeling. I deeply appreciated there was a community like this exists, so we could share stories and experience.
I would like to give you an update and you may be interested in. The old couple kept their promises and moved out on April 2, some government agency did come to pick them up. If the story stopped here, they are really nice couple. However, if you saw what they left, you may lose all your sympathy. And even worse, after I talked to the neighbor, you may start getting mad.
The old couples were picked up and left a full house of their belongings in there. My PM called 2 dumpsters to remove the stuff, the handyman is still working on moving stuff. The garbage is everywhere. The full floor was covered by the dog poops and pees. All the closet doors were painted with artist drawings. The room doors were punched holes, and so on with the garage doors. The bathroom cannot speak of. All the lawns were dead, the trees and bushes were cut down... I mean, were they allowed to do that? At the first, I wondered why the old couple could do such a demolition. After talking to the neighbor, he told me that at least 3 more people (not the old couple) lived in the house. The other three were the daughter and daughter in law and their son. They planted marijuana in the back yard, this is the one that really made me lose all the sympathy. Now I am thinking if I should go to a small court to claim some of the damage.?
I almost have to replace everything. My PM suggested vinyl plank for the floor. Including removing all the existing floor, install the new baseboard, for 1400 sqfts are around $10,000, is it reasonable price? Painting the whole house is $1200 plus paint. Other estimates are on the way.
Lots of people here recommend other types of real estate investing, really appreciated, please give me some head starts, where and how I could start. Dealing the tenants is not fun, I didn't have any problem in the past, now it starts revealing. In the beginning, I decided not to deal with some kind of people, so I only buy into nice family oriented neighborhood, just hopefully we will not get into this, but it still. Some people decided to live in a pig style environment. My PM try to comforted me that this was 20 years she saw it the first time, which mean it won't happen a lot. Is it true? One thing I learned is that I asked PM to inspect all the units once a year.
Also, how to prevent people who are not on the lease live in the property permanently? My PM said that it was very hard to prove it is short stay or permanently. The only choice is If we start suspecting, we will not renew the lease.
The whole story is ended with no eviction, Good, but full whole renovation, Bad.