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All Forum Posts by: Benjamin Haberman

Benjamin Haberman has started 30 posts and replied 174 times.

Post: 27 y/o Female – 50k debt to $1M+ net worth (24 units,50 deals/yr)

Benjamin HabermanPosted
  • Real Estate Broker
  • Ocean View, NJ
  • Posts 188
  • Votes 82
@Arianne L. This is incredible. So awesome. Congrats!

Post: Self managed landlords, do you give tenants your cell?

Benjamin HabermanPosted
  • Real Estate Broker
  • Ocean View, NJ
  • Posts 188
  • Votes 82
@Johann Jells At 1Am, how are you fixing a roof leak? Is it worth the stress if you can’t even fix it? Might as well wait until 8 am to get back to the tenant and THEn address the issue.

Post: Closing today / Tenant occupied foreclosure.. what would you do?

Benjamin HabermanPosted
  • Real Estate Broker
  • Ocean View, NJ
  • Posts 188
  • Votes 82
@Ashley Davis will do :)

Post: Closing today / Tenant occupied foreclosure.. what would you do?

Benjamin HabermanPosted
  • Real Estate Broker
  • Ocean View, NJ
  • Posts 188
  • Votes 82
@Ashley Davis I’ll let you know when we are done with eviction. I still havent been in the house lol We bought for $136 The house next door sold for $489

Post: Closing today / Tenant occupied foreclosure.. what would you do?

Benjamin HabermanPosted
  • Real Estate Broker
  • Ocean View, NJ
  • Posts 188
  • Votes 82
@Ashley Davis nice work. I actually just purchased a home last week sight unseen with a tenant (squatter) in it. I called an attorney the day of closing and started the eviction process. We first sent him a letter offering him $2k to leave. He called back attorney saying he just replaced the hot water heater and that he wants to be reimbursed for it. He also mentioned he would be late paying rent Long story short i told the attorney to just keep moving. The eviction costs us $750 but well worth it. I wouldnt knock on the door.

Post: Getting started in private money lending

Benjamin HabermanPosted
  • Real Estate Broker
  • Ocean View, NJ
  • Posts 188
  • Votes 82
@Jay Hinrichs i have been going back and forth about converting my ira to self directed. The participation notes seem clutch. Do most RE attorneys know what they are?

Post: Getting started in private money lending

Benjamin HabermanPosted
  • Real Estate Broker
  • Ocean View, NJ
  • Posts 188
  • Votes 82
@Jay Hinrichs this is very interesting. Thanks for the insight.

Post: Please help! Rented pays on time but is becoming a thorn

Benjamin HabermanPosted
  • Real Estate Broker
  • Ocean View, NJ
  • Posts 188
  • Votes 82
Originally posted by @Joe Splitrock:

@Benjamin Haberman investing in real estate is not all cash flow and rainbows. Old houses have great cash flow and in return you get high repair expenses. It is your job to keep everything working at your expense. If you underestimated repairs or didn't set aside sufficient reserves, that is not your tenants fault. You listed four complaints:

1. Water not working - this is 100% your responsibility to keep water working. 

2. Air conditioner not cooling - it is your responsibility to keep provided mechanical items working.

3. Secure the crawl space entries. - need to determine if this is this some type of security issue and if so it is your responsibility

4. Replacement window blinds at $1000. - Sounds like your choice to do this. If you provide functioning blinds as part of your property, then you need to maintain them. This varies by property, so the key is have a clear definition of who pays. I can get blinds for $20 a window, so not sure how you racked up a $1000 bill.

Do you have a family? I encourage you to ask yourself if your kids and wife didn't have water, air conditioning or secure entries to the property, how would that make you feel? You signed up to be a landlord, so you need to fulfill your responsibility.

 All good points.

Where are you getting blinds for $20 a window?

Post: Please help! Rented pays on time but is becoming a thorn

Benjamin HabermanPosted
  • Real Estate Broker
  • Ocean View, NJ
  • Posts 188
  • Votes 82
Originally posted by @Thomas S.:

It's your property and you are the one to decide what is and is not necessary to be addressed.

For ligate serious issues you respond immediately for all else you simply text back that you will take a look next time you are at the property. Do not ever make any special effort to address insignificant issues.

Your only problem going forward is ignoring her texts and determinimg what is a serious issue. Ignoring tenants is part of your job as a landlord. Text messages should be very easy to ignore. 

thank you!

Post: Please help! Rented pays on time but is becoming a thorn

Benjamin HabermanPosted
  • Real Estate Broker
  • Ocean View, NJ
  • Posts 188
  • Votes 82
Originally posted by @Wesley W.:

This is the clause in my lease that sets boundaries between my tenants and how/when/why they contact me.  And I use Google Voice.

(a) Maintenance requests may be made by phone or text from 7 a.m. to 7 p.m., Monday – Friday, or by email anytime. In the case of an emergency, call the Property Manager anytime. Emergencies include fire, flood, electrical shortage, and sewer backups.

I also only offer MTM leases.  That way, if someone is over the top and does not respect boundaries, I can terminate their lease.  Obviously, if there is a legitimate maintenance issue, it is your responsibility to address them.  If the minutiae is causing you a "death by a thousand cuts", you can diplomatically have a frank conversation with them:

"Mrs. Jones, I can't help but notice that you've called me many times over the last few months over maintenance issues.  While  some of those issues I appreciate you reaching out to me for me to address, several  others have been what I would not consider my role as the landlord to address.   I work hard to provide a habitable place for our tenants to call home, but I would hate to have someone living here who isn't happy with the property.  If that's the case, I'd be willing to let you out of your lease and we could go our separate ways.  I just thought I'd ask.  What are your thoughts?"

Awesome info. Thank you.