All Forum Posts by: Kimberly Fisher

We bought our 1st rental property in March, 2022. Our current tenant, was in place when we took possession. She pays on time, communicates with us and seems to be fine.
Apparently, a former tenant, from before we owned the property, was incarcerated and has since been released. She claims that she has property inside the unit and has been harassing the current tenant. According to our tenant, the other woman has come to the house repeatedly and has been harassing our tenant. Tonight the former tenant became very agitated and threw a brick through the front window. Unfortunately, there is no proof that it was the former tenant.
Our current tenant notified the police, we plan to get a copy of the police report and we will replace the window first thing tomorrow. I think we will install video security cameras asap as well.

Has anyone encountered anything like this? Anyone have further advice? Crazy stuff…. Thanks for your ideas and advice!

Update: The security deposit was in fact in the settlement.

Thanks everyone for your answers!

Thanks for your responses! Super helpful and we learned a lot for our next time.

My son just closed on his 1st property - a duplex with tenant in one unit and he’s going to house hack the other unit.

We have 3 concerns:

1. The tenant’s security deposit hasn’t been transferred to him yet. In fact, no one (including his own realtor) has even mentioned it.

2. Closing was on 6/27, should prorated rent have been due to him? (This is minor, $85, but still points to the issue.)

3. The seller’s agent verbally informed us that the lease, which expires on 7/31, would (at our request) be renewed as month to month. Son was given a copy of the expiring lease, but has not seen the new one. Shouldn’t he have been given the most recent agreement? And, does that lease remain in effect until son presents a new one?
Note: I recently purchased my 1st SFR with tenant in place and all of these items were taken care of at closing and my realtor made sure they were completed. His realtor has done nothing.

My son just closed on his 1st property - a duplex with tenant in one unit and he’s going to house hack the other unit.

We have 3 concerns:

1. The tenant’s security deposit hasn’t been transferred to him yet, in fact, no one (including his own realtor) has even mentioned it.

2. Closing was on 6/27, shouldn’t prorated rent have been due to him? (This is minor, $85, but still points to the issue.)

3. The seller’s agent verbally informed us that the lease, which expires on 7/31, would  (at our request) be renewed as month to month. Son was given a copy of the expiring lease, but has not seen the new one. Shouldn’t he have been given the most recent agreement? And, does that lease remain in effect until son presents a new one?
Note: I recently purchased my 1st SFR with tenant in place and all of these items were taken care of at closing and my realtor made sure they were completed. His realtor has done nothing.

Minor adjustment to numbers - I forgot to subtract one line (I had listed plumbing repairs twice)

Bottom line = $19,932 (Low) and $36,631 (High)

I'm super grateful for any advice on this. This SFR is rented through 6/22. Tenant is Sec 8 with lease renewing for 2 yrs (no increase - but current rent is very generous). I only have to end of business today to send to seller.

Inspection came back with needed updates as follows:

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Thanks for your thoughts! 

I agree that responsiveness is HUGE! I have also already vetted any accountants I will be meeting with to ensure that they have real estate experience. 

I guess I wish I knew more of what to ask them in a brief introductory call, but maybe their approach to the call will guide me enough (or not) to make it clear if they are right for me.

I’m building a great team as I get nearer to buying my first small multi families. Next week I will be meeting with a couple of different accountants - what are the must ask questions? What can set one accountant apart from another? . I’m especially interested in how I can impact my W2 taxes.
Thanks so much for your advice!!

I’m building a great team as I get nearer to buying my first small multi families.                              Next week I will be meeting with a couple of different accountants - what are the must ask questions? What can set one accountant apart from another? .                              I’m especially interested in how I can impact my W2 taxes.
Thanks so much for your advice!!