All Forum Posts by: Kyle D.

hey jeff, I was more curious if I had to go through the entire/traditional eviction process -after- the lease has expired, or since I no longer have an agreement with them in my house, the process can be fast tracked? 

So if I haven’t accepted partial payment so far, I should not accept them now, because even if I accept partial payments for the Nov,dec,jan then when the lease is up, a judge -might- make the eviction process more difficult for me, even though  the lease is up? Or should I consider partial payment for the last 3 months knowing I want them out after that, and a judge won’t care that I’ve been taking partial payment since the lease will be out and notice of non renewal has been sent in Dec?

thanks Kim.  They have paid late fees and full rent (never have we accepted partial payment) in the past.  But one last question: is it still eviction even if their lease has expired? Do I have to file with the court and wait all those business days, even after the lease is up? Or can I just go to the sheriff and say I have squatters, get them out? 

hi,

I have a tenant who is constantly late and we are having to threaten eviction and then he borrows from his mom and pays (last 3 times).  Well, now it has come to a head and he is late on November rent and has $800 out of $1350 (late fees now are close to $1500).  I know to not accept partial payment, but I have a general question:

Im in the state of Florida. Their lease expires at the end of Jan 2018.  

If I take partial payment for the next few months (my logic being if I take 3 months of partial payment,it might be better than going through 3 month eviction process and getting no money and a wrecked place), when their lease is up, do I have to go through the eviction process (Incase they just decide to squat), or is the process more favorable for me after the lease is up? Any google links on the subject of expired lease / how to get them out would be much appreciated.

OK, your explanation this time made more sense. I guess I picked cap rate as an "indicator" just like an investor in the stock market uses certain "technicals" in evaluation of a stock. While you can always come up with deviations to the past-performance-analytics ("What if the company's CFO runs away with all the money", "EPA fines for chemical dumping" etc on par with "Sinkhole" or "Need a new roof" ). Can you suggest better "technicals" for the SFR markets? It seems most people refer to the NOI as an apple-to-apple comparison model so that is what I was using. I'm a newb.

1) I picked 8% because I want at least an 8% cap rate for my real estate investments

2) Is this suppose to be rhetoric? I am here to learn. I would think NOI for a given "A" property subdivision geared for military is pretty standard (rent is about the same, expenses are about the same, property taxes, etc.) so the only deviation is the purchase price which can fluctuate over the year. Looking at comps you could deduce per per sqft, come up with an appraised value, and then come up with a "Market Cap Rate". I'm sure I am missing something you will remind me of; Maybe this avenue is a dead end, but I like to explore!

 if the spouse is in the military do they both get the full allowance or is it a percentage? any details would be helpful. or is one person in military per household the 80% rule?

I guess I should have said Areas where Market cap rates are atleast 8% ?

cap rates are just a function of NOI / purchase price right? or does it only apply to commercial/multi unit?

I am doing some research on buying SFRs/2-4 plexes near military bases and listing on military websites.  Here is kind of the baseline for what I would like to capture.  Is this too much, and is there anything I am missing, and can anyone suggest locations across the country that fit this bill? Not opposed to buying in PR, Guam, HI, etc...

-Within 15 minute commute of a military base that are large enough to not be shut down

-Preferrably in a known/recognized community the military folks lived last year, and the year before, etc  (eg. MacDill AFB in Tampa = South Tampa hotspot to buy in - but low cap rate)

-Neighborhood should be 50% rentals or less?

-Class "A"

-Rating on greatschools.org 9 or 10

-Cap Rate at least 8%

-Must have several other large employers in town with strong transient (consultant?) workforce

Any advice is appreciated.  PM me if you offer such services in your local market.

Thanks!

I am staying away from septic systems on rental properties.  People flush certain "things" down that have a tendency to clog the drain field up - they won't care nearly as much as if it was your primary residence.  I just passed on some killer deals in New Port Richey, FL that were on septic because of this.  I am a newbie though.  Thoughts from the experts?