All Forum Posts by: Kocsen Chung

I’m looking for lawyer to counsel me on a situation regarding tenant-landlord. Any recommendations would be great!

The situation is as follows. My tenant on the lease, call him Joe, is recently divorced and moved in to our SFH. He recently let his ex wife move in a month ago and due to problems he wants her to move out but she won't.

He is asking for our help to get her to move out. We do have a “no guests can stay for more than 10 days policy” but we’re looking in advice to help him out. 

I reiterate everything that everyone says. I may add: try finding deals outside of your area or even state? Why limit to Rochester? David Greene’s Long Distance Real Estate Investing is great introductory material to get started. 

I haven’t read all the replies. But first off, the myths and horror stories behind pits are heavily overreacted and i encourage you to do reaearch to justify your desicion. So long as you a) take dog owning tenants and b) the dog has all the pre requisite paperwork then I would argue to judge the people  more than the pet they own. 

@Anne Cantwell what a crazy world. We are in San Jose right now and currently have 2 SFH (9 units) in the RIT 14623 area. My wife and I also went to RIT. We've made two deals over the past couple years and are cash flowing @ ~9-12%.

It’s a niche area but one that can definitely cash flow. We self manage and also bought cash. 

One at 114k other at 145k. Rents at $1720 and $2400 respectively for student housing. :) 

We do investments in Rochester (Henrietta area) from California. Ask away 

So in short: have solid checks that will most likely but not deliberately disqualify students. 

In reality regardless of you wanting to not rent to students or not; These checks (or policies) should be in place. 

-K

@Robert G. @Mark Stone

I decided to keep the place and now the problems with the place are becoming more apparent. The place had a minor flood and the septic guy said we need a new draining field (at least $3k) or a connection to the city water lines, if available. I also got a notice from the city inspector that the facade of the building is not 'up to par'. 

I would be more comfortable fixing the place up if it was performing up to market expectations. Should I consider fixing it up anyways and then selling it? Should i just stick with it? Should I look into property management to help out with all of this? I'm really at odds here.

Current cash flow is about $1300/mo. - which is making it hard to part ways with from a financial perspective.

I assume you ask because you feel it's a hassle to keep such information but more importantly you want to store it responsibly and safely. 

The trick in my opinion is to get rid of you as the middleman for performing these tasks and use a service like cozy.co where the applicant enters all their information and then you get the report and the background without knowing anything. 

The other reason you could ask is because the applicant has no SSN. If this is the case think about what landlords need to know. We need to know if they can afford it and if they have had bad experiences in the past. 

This means a history of pay stubs or job offer could do. And even a personal interview to keep both your best interests in mind. 

@Martin Grizzanti super simple one is cozy.co. It's free too 

Thank you all for the responses!