All Forum Posts by: Kim Herrick

I know this is an old thread but I wanted to thank @David Beard for the information he provided regarding Citi Bank Mortgage offering lower value loans and @Sean Ridlon for confirming that this is still the case five years later!!

@Len Roche I know this is an older post however, I am interested to know how things are going with your duplex. Did you raise the rent to $1K, have you purchased any other properties in the area, is your target renter still locals and families?  I hope everything is going well! 

Fantastic job!! I cannot wait for you to sell it so you can get started on the next one!!

@Cassandra Sifford Thank you so much for your concern.  You are a sweetheart. However, things are going just fine.  As expected with these rentals I am encountering various situations.  The good thing is I am cataloging each experience and taking away valuable knowledge.  I only do month to month leases with my rental (I now have four which is crazy!) because of the caliber of tenants. Overall things have not been to bad this was the only issue I’ve run across and things have worked themselves out. 

@Jeff Kehl I receive your input and thank you for sharing. I am new to rentals and I think I have done a pretty good job so far.  I personally  believe you do need to have a heart.  I don’t think you can always lead with it however, in order to retain quality talent you will need to empathize and I am not ashamed to do so when appropriate.  Trust me I am tough it is typically hard to get one over on me. 

I did have to get stern and enforce the lease and expectations and have not had any further issues.  You are right I probably did not pick the best tenant.  I was bound to make a mistake along the way I am just grateful it was not a huge one. 

I wanted to manage my properties the first year at least to get a feel for the business. I am glad I did, even though this situation took me off guard.  I don’t know why I never thought about this occurring.   

Fortunately, I bought with enough room that I can afford to have the unit vacant rather than have a bad tenant. I will look into a property manager in the future. It would be nice to be hands off and just receive money.  :) 

@Josh C.

@Josh C. Thank you for your feedback. I did work with the local authorities and the county.  We have not had any further issues and rent is being paid timely with no damage to the property.  

I forgot to mention she also does not have a job and will be unable to pay rent. 

Hi All!

I have an unfortunate situation going on at my duplex.  I have a tenants who signed a month to month lease in March. Since then the police have been to the residence three times and the neighbors have repeated called me because of abuse.  

The wife has a restraining order against her husband so he is not living there.  However, he continues to break into the residence and destroy her belonging and breaking the window frames along the way. 

I am concerned for many reasons. At this point I don’t think it is safe for her and her  three small children to remain there if he can so easily access them.  As well as my concern for escalating damage to the property.  

This is weighing on my heart.  Has anyone had a situation like this? My first duplex is really giving me a run for my money.  

@Al D. GREAT advice!  I finally got a copy of the lease after threatening to not close this week. The lease is basic but clear about non payment and late fees. 

Would you recommend I go back and ask that they get the current tenants paid up or out before closing per the lease?  Were your sellers resistant to your request? I know they obviously complied. My sellers were clearly trying to hide this from me which is frustrating. 

@Raymond Y.  I just found this out yesterday and I close in two days. Unfortunately, I believe it is to late amend the price at this point-isn’t it?  These tenants mentioned some things were not fixed that they asked for when I went for the inspection.  Nothing major like hot water as you mentioned with your tenants.  I think they were just putting on a show.  

@Michele Fischer Your 101 is right on the money. I can’t control those things and I’ll have to get my head wrapped around that. If the past due rent is to the old owner do I have to collect that from them? Funny they are behind because they asked me several times if they were going to have to move and they didn’t want to because their child attends the school down the street.

@Kelly N. @Ryan Murdock I have a feeling I am going to have to start the eviction process. If the rent isn’t paid on the first I’ll give them the 5 day notice and move forward from there. Thank you both for your feedback! I really appreciate it!

This is such a rookie question but I have to ask it anyway.  I am going to close on a duplex and I just found out the tenants are a month and a half behind in their rent.  It is an estate sale so I am not sure if they are just taking advantage of the situation or if this is typica behavior. 

The other unit is vacant and the current tenant is out of their rental agreement and MTM.  I guess I am nervous to go into this with negative cash flow off the bat.  Should I ask them to leave and just look to fill both units fresh?  Or take the risk for a month and see if they pay me, or would you run for the hills and pass on this all together? 

Any advice or accounts from previous experience will be well received!

@Matthew Paul Chamber Pot-real classy! LOL 😂 

@Brian Adzadi You make a good point. It is what it is. 

@Jim S. Thank you for the feedback. That makes me feel a lot better.