All Forum Posts by: Kevin Harrison

I believe @Steve Vaughan is correct. This was the PM's mistake and it would be on him/his company to correct it. I wouldn't get too bent out of shape over it. I would also suggest that the tenant whos things were thrown out make a claim with their renters insurance if they have it. Trust me, the insurance company will get their money one way or another.  

It was a random thought that just came to me. I think it would help out a lot of the newer investors if BP had some kind of dictionary, something similar to WIKI I guess. Where we could go in and define what many RE words and abbreviations mean for people who are new to the game. This would be totally driven by the BP users, but I think it would cut down on a lot of the "what does this mean?" and "I don't understand..." questions. It would also be a lot easier to search than looking through random posts about the topic hoping someone actually defines it (and properly).  

I honestly think you need to consult a lawyer if the tenants are trying to push you into doing something drastic. But my personal opinion is that you either need to prorate their rent until they have a working bathroom again OR get them a hotel. But I don't know the specifics of your state.

Well i guess you have no choice. Go through the motions of removing the tenant, if somehow you go to court and they tell the judge that no such tenant exists then problem solved. You go into the house, change the locks, and start work or showings etc.

If the tenant balks or then tell him to take you to court because according to the record you have already tried to have him removed and he doesn't exist. If he wants to fight in court then you can prove he exists and throw him out. Otherwise you have ownership and rights to the house because he cant if he is not real.

Basically force him to get out or prove he exits. Just when you go to change the locks and what not make sure you have your court documents handy incase the police show up.  

That is a vicious downward circle. No money for repairs, worse clients, more damages, don't pay rent, no money for repairs. I think @Dawn Anastasi might be right. It sounds like this place needs an infusion of cash to get it truly rent ready again for quality tenants. If the owner cant provide it then he might need to sell it to someone who can to make this place profitable again.

I think everyone is right here. Also if you try and charge your tenant for not keeping it up you will lose that every time since you told them you were going to have the yard fixed and have not followed through. If I was told Im moving into a dirt lot but that as soon as it is warm im getting a yard why should I bother to try and maintain it. I wasn't given what I was promised in the first place.

Well then that place was just grossly mis-managed. Good find for you though.

If you are not talking about cap rate then maybe this is a local way of doing things where you are at. You should try consulting some of the local investors or re-posting this question to the forum for your area.

Go up the search bar and search CAP Rate. I belive this is what they are talking about.

If you try and go without a sump pump your property WILL flood. It may not be today or tomorrow but it will flood. you have to have a sump. As everyone else has said, this is not something you want to go cheap on, its typically a one time expense and it keeps your property dry.