All Forum Posts by: Kelly Davis

@Tim Trumble Thank you for the info. Since you are employed by the NACA prehaps you can give me a little insight on the process and timeline. A friend of mine in NY recommended the NACA program to me and has since purchased several other properties but said that it isn't exacatly a speedy process to say the least. Roughly how long does it take from the 1st class to closing?

I would have to agree with @Chris Martin in his "Another Option" comment. Adding the payment amount to their lease my be the best way to handle this.

They seem to honor what they feel is their obligation, which is paying the rent and if the water bill is included in that amount they will regard it the same way perhaps. By not paying the full rent+utility payment puts their tenancy in jeopardy. They have no consequences when they pay the water bill late or not at all. Now you have put the accountability back on them and more importantly, you are covered (in writing) for the bill payment and your right to evict for non-payment of the rental agreement. The rental agreement is inclusive in all aspects. If it says they are to pay utilities and they do not, that is just as much of a violation of the lease as non-payment of the actual rental portion. They need to view it as such.

In the guidelines for acquiring a NACA loan, you can't use the service if you already have property in your name. If your properties are in a LLC will they view that the same as if you bought a property in your name?

@Nefera Croom...I'm so glad you posted this and asked all those questions. I was considering doing the same thing, as in purchase a multi-fam property. Please keep us posed on the meetings. I have my initial meeting at the end of this month. I will be nice to get the inside scoop before each step of the process.

I was considering the same stratgy. Have @Carrie Maultsby-Lute or @Chuy Gonzalez made any progress with the NACA program? I'm in Los Angeles.

@Bryant Loke

I've been a property manager for a number of years and had several tenants evicted. I do believe it is legal for the mgr to have taken the pics. Only because they didn't physically go onto ur rented property, especially if the area that the pics were taken from is the owners property. And yes they do have to give u a 24hr notice before entering ur unit. While u may think ur neighbors are loving ur pet, it seems like one of them may have tipped off the mgr about ur dog. How would they have known otherwise? If they are not an onsite mgr. If they had actually seen the dog they would have taken a pic of it! Someone brought it to their attention that's why they were fishing for evidence. They know u have a dog, and you do in fact have a dog, which is a violation of the lease. You will have to get rid of the dog.

Is the 3 day notice for correction of the violations?

As for the car repair on property, they lease should stipulate that or the "building rules" should highlight that fact. They can't give u a notice for violating a rule if their is none in place.

All of this will be given a certain amount of leniency if ur r an on time paying tenant with good pmt history.

Welcome Lena! Glad to have another SoCal that is investing in Cali. Good luck on ur first deal.

Yes, @Robert Carl pretty successful. The property manager on-site is key or the manager assigned to the property. And of course u have to set a standard for the minimum % of vacancies allowed for the property based on the profitaability numbers.

Hello and welcome to BP @Homa Wong!

A lot of great beneficial information and and helpful partnerships to be made here. Enjoy!

I've been a property manager for quite a while and taken over 30 unit+buildings with majority late paying tenants. And it is very possible to make late or non-paying tenants into paying ones. If u have a sit down with them after u purchase the property and let them know that if u don't receive the first pmt on time u will immediately evict because of their track record they may get their act together. The mgt company has allowed them to not pay. Not sure about the laws in ur state but I give notice of late pmt on the 3rd they have until the 6th to pay and on, usually before the 15, they are placed in eviction status by our attorney. You can't let an entire month pass with no payment. On tenants that r perpetual late payers or non-paying.