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All Forum Posts by: Rene Hosman

Rene Hosman has started 28 posts and replied 281 times.

Post: Frustrated Massachusetts Landlord Seeking Advice on Dealing with Problematic Tenants

Rene Hosman
Pro Member
ModeratorPosted
  • Rental Property Investor
  • Denver, CO
  • Posts 333
  • Votes 314
Quote from @Michelle Wang:

I’m a landlord in Massachusetts, and recent events have left me extremely frustrated and disappointed with the state’s laws and regulations. I inherited a property with two tenants who don’t pay rent. It seems they were non-paying tenants even under the previous owner, who likely sold the property because of them. However I didn't know they are terrible tenants when purchasing the property.

Six months ago, I began the eviction process with the help of a lawyer. After several hearings, we reached an agreement: both parties agreed that if the tenants applied for government assistance to cover the overdue rent and committed to paying rent on time going forward, the eviction process would end. Although I wasn’t happy with this agreement because my goal is to evict them as soon as possible, my lawyer told me it was the best outcome we could achieve.

However, the tenants didn’t honor the agreement. We had to schedule another hearing, but when the tenants failed to attend, the court simply scheduled another opportunity for them. This dragged the process out even longer, making it both exhausting and expensive—I’ve already spent nearly $10,000 in legal fees. Right now I'm still waiting for next hearing. It's an endless game.

Recently, one of the tenants being evicted reported a broken heater to code enforcement and the Department of Children and Families (DCF). These agencies began calling me non-stop, demanding I fix the heater immediately and provide the tenant with hotel accommodations during the repair period—or else I’d be issued tickets and face daily fines.

I won’t go into detail about how I feel, but anyone in my situation would feel like they just swallowed a bitter pill. There are so many agencies protecting tenants—who’s protecting landlords? Is it fair to only protect one side? If landlords fail to meet their responsibilities, they’re fined immediately. But if tenants fail to pay rent, there are no penalties for them?

I know life isn’t always fair, but these laws and regulations are outright oppressive to landlords. Is there really no way to hold shameless tenants accountable?

I’m looking for advice from experienced landlords or lawyers who might have ideas on how landlords like me can deal with such situations. Whether it’s the proper legal route or unconventional methods, I’m open to any suggestions to help me get rid of these tenants sooner.

Thank you in advance.

I completely understand your frustration—situations like these can be incredibly challenging, both financially and emotionally. Dealing with non-paying tenants in a state like Massachusetts, which has strong tenant protections, is no small task. Systems can feel so one-sided sometimes!

First, ensure you’re working with a lawyer experienced specifically in landlord-tenant law in Massachusetts. The nuances in state regulations require an expert who understands how to expedite the process within the legal framework. If you’re not satisfied with your current attorney’s approach, it may be worth seeking a second opinion to explore other strategies or angles you might not have considered.

Next, focus on compliance with housing codes and tenant protection agencies like DCF. While the heater issue adds extra stress, addressing it promptly will protect you from further fines and penalties. Document all your efforts, including repair invoices and communications, to show you’re acting in good faith as a landlord. This can also bolster your case if the tenants continue to act in bad faith. I had an experience with a terrible tenant who reported me for a bogus claim but by making the claim it allowed me to gain access needed to get photos of the condition of the property, and then the tenant refused to allow maintenance people in which really helped prove my side of the situation.

If possible, explore alternative dispute resolution options like offering the tenants a cash-for-keys agreement. While it may seem unfair to offer financial incentives to problematic tenants, sometimes it’s the quickest and least costly way to regain control of your property and move forward.

Lastly, connect with local landlord associations or advocacy groups. They can offer support, share resources, and connect you with other landlords who’ve faced similar challenges. Sharing experiences and pooling knowledge might uncover creative solutions you hadn’t considered.

While it’s frustrating to feel unprotected, focus on taking strategic, proactive steps. You’ll come out stronger, and this tough experience will only sharpen your skills as a landlord.

Cheers,
Rene

I completely understand your frustration—situations like these can be incredibly challenging, both financially and emotionally. Dealing with non-paying tenants in a state like Massachusetts, which has strong tenant protections, is no small task. While the system can often feel one-sided, there are strategies you can consider to navigate this situation more effectively.

First, ensure you’re working with a lawyer experienced specifically in landlord-tenant law in Massachusetts. The nuances in state regulations require an expert who understands how to expedite the process within the legal framework. If you’re not satisfied with your current attorney’s approach, it may be worth seeking a second opinion to explore other strategies or angles you might not have considered.

Next, focus on compliance with housing codes and tenant protection agencies like DCF. While the heater issue adds extra stress, addressing it promptly will protect you from further fines and penalties. Document all your efforts, including repair invoices and communications, to show you’re acting in good faith as a landlord. This can also bolster your case if the tenants continue to act in bad faith.

If possible, explore alternative dispute resolution options like offering the tenants a cash-for-keys agreement. While it may seem unfair to offer financial incentives to problematic tenants, sometimes it’s the quickest and least costly way to regain control of your property and move forward.

Lastly, connect with local landlord associations or advocacy groups. They can offer support, share resources, and connect you with other landlords who’ve faced similar challenges. Sharing experiences and pooling knowledge might uncover creative solutions you hadn’t considered.

Cheers,
Rene

Post: Need some help with a property in Graceville Florida

Rene Hosman
Pro Member
ModeratorPosted
  • Rental Property Investor
  • Denver, CO
  • Posts 333
  • Votes 314

Have you put in the zipcode for that area in the BiggerPockets agent finder? https://www.biggerpockets.com/business/finder/agents 

Post: First house hack - too expensive?

Rene Hosman
Pro Member
ModeratorPosted
  • Rental Property Investor
  • Denver, CO
  • Posts 333
  • Votes 314
Quote from @Brandon VanTuinen:

Hello! Rookie real estate investor looking for some advice:

I purchased a duplex in Grand Rapids, MI last October (2023). I bought the property at $365k, and its new *estimated* value after renovations is 390k-400k. The mortgage has gotten out of hand due to property tax increases, miscalculated escrow, and an increase in my interest rate from an initial buy down, increasing from $2600/mo to $3200/mo.

I owner occupy the home, renting a room to a friend at $650/mo, and the lower unit rents for $1850/mo - total rental income of $2500/mo. This leaves me $700/mo (plus $200/mo in reserves) to pay myself, which seems high for a “house hack”.

Hindsight being 20/20, I may have bought out of my price range. I am looking to progress my real estate investing career in a responsible and timely way, and it has been hard to save money for my next property while paying this much for my current property.

Any advice on strategies to move forward? Sell the property, buy cheaper, and have more cash to put into another? I am hesitant to sell because the property is in a GREAT area with high-quality renters, and theres lots of growth in the area… But I am open to any advice you may have.

Thank you in advance!


Congrats on starting your real estate journey with a duplex! It’s clear you’ve put thought into your investment, and the challenges you’re facing are common for many first-time investors. The fact that your property is in a strong area with high-quality renters and growth potential is a major advantage.

First, revisit your numbers to include all expenses and potential tax benefits, like depreciation and mortgage interest deductions. This might help you see the property’s performance in a clearer light. If rents are under market, consider small increases or exploring additional ways to optimize your cash flow, such as taking on another roommate.

Refinancing is also worth exploring in the future. If interest rates stabilize or your property value has increased, you might secure a better monthly payment. That said, selling is another option to free up cash for a lower-cost, higher-cash-flowing property. However, weigh the costs of selling and the potential long-term appreciation you’d lose in this area.

Real estate investing is a learning process, and you’re already ahead by taking action. Stay focused on your goals, and trust the experience you’re gaining will help guide your next steps. Keep us updated on how things unfold!

Congrats on starting your real estate journey with a duplex! It’s clear you’ve put thought into your investment, and the challenges you’re facing are common for many first-time investors. The fact that your property is in a strong area with high-quality renters and growth potential is a major advantage.

First, revisit your numbers to include all expenses and potential tax benefits, like depreciation and mortgage interest deductions. This might help you see the property’s performance in a clearer light. If rents are under market, consider small increases or exploring additional ways to optimize your cash flow, such as taking on another roommate.

Refinancing is also worth exploring in the future. If interest rates stabilize or your property value has increased, you might secure a better monthly payment. That said, selling is another option to free up cash for a lower-cost, higher-cash-flowing property. However, weigh the costs of selling and the potential long-term appreciation you’d lose in this area. Have you seen Scott Trench's sell or rent calculator? It's a tool he made to evaluate deals on the BP Money Podcast and is available free to anyone!

Real estate investing is a learning process, and you’re already ahead by taking action. Stay focused on your goals, and trust the experience you’re gaining will help guide your next steps. Keep us updated on how things unfold!

Post: New House Hacker, Need Tips/Reassurance Please!

Rene Hosman
Pro Member
ModeratorPosted
  • Rental Property Investor
  • Denver, CO
  • Posts 333
  • Votes 314
Quote from @Charles Evans:

Good Morning,

So I have always dreamed of getting a duplex as my first house and to house hack to get my foot in the door in real estate investing. My goal was simple: house hack, and after a year browse to hopefully repeat. So now I am 25 and I was finally presented with an opportunity (duplexes are super rare in my area/state btw) I put an offer in and it's looking like it's gonna be accepted!! But this is my first house and I'm starting to get anxious (as all new homeowners might be). 

So I just wanted to present the raw facts, hear everyone's opinions, and obviously gain some knowledge and tips from investors! 

This property is a 2500 sq ft duplex renovated from the studs up 5 years ago. It's being sold for a little under 400k. It currently has a renewed leased tenant for a year @$1400 a month (the owner of the property rented it out to workers at an under-market rate but could easily get $1500-1700). My mortgage would be $2600 total a month, but with the rental income, it would be $1200 from me and $1400 from the tenant. To me, renting an apartment or a "normal house" would cost more and I'm ATLEAST getting rent towards ownership/equity. I make $4200+ a month after taxes plus overtime if I want it. 

So am I crazy for pursuing this? I know this is a higher mortgage, especially for a first house, but does it make sense? I keep thinking about the "what ifs" and everything because I'm a realest... but I know this can and will be a great opportunity for me to get my foot in the door even if I have to tuck my chin and grind for a year. 

Any and ALL comments and advice would be appreciated. Thank you.


Congratulations on taking the leap toward buying your first duplex and house hacking! Feeling anxious is completely normal, but from what you’ve shared, this opportunity seems like a great fit for your goals.

Your numbers look solid. With $1400 in rental income offsetting your $2600 mortgage, your personal housing cost is $1200—less than renting while building equity. Plus, with $4200+ in monthly income and the option for overtime, you’re in a strong position to manage this responsibly. Make sure to maintain a cash reserve (3-6 months of expenses) to handle unexpected repairs or vacancies.

It’s smart to consider the “what-ifs,” but don’t let them hold you back. Real estate investing carries risk, but this is a calculated move. Even if you temporarily have to carry the full mortgage, your income makes that manageable. Over time, you’ll also have the option to raise rent to further improve cash flow.

House hacking is an incredible way to learn, build equity, and set yourself up for future opportunities, it's how I started as well and it was the best decision I've made! Treat this first year as a chance to gain experience and refine your approach. Stay disciplined, track your expenses, and connect with other investors for support and advice.

 A year from now, you’ll likely look back on this as one of the best decisions you’ve made.

Good luck—I’m excited for your journey!

Cheers,
Rene

Post: How to refi out of hard money loan/multi unit

Rene Hosman
Pro Member
ModeratorPosted
  • Rental Property Investor
  • Denver, CO
  • Posts 333
  • Votes 314
Quote from @Colton Bridges:

I recently bought a duplex that I plan to convert to a fourplex. I used a hard money loan to purchase this off market deal.

I rehabbed the upper two units within two and a half weeks and have a renter already lined up for one unit. I believe after the holidays the other unit will go quickly.

What is the rule to refi into conventional loan? If I secure renters and show a lease agreement and deposit can I get into lower interest rate mortgage?

I wasn't planning on going this big for my first investment but the deal, location and potential to value add was too good to not go for it.

Thank you!


 I'm doing a refi on a multi-family building right now with a lender I found here on the BiggerPockets Lender Finder - https://www.biggerpockets.com/business/finder/lenders They've been able to help me get a DSCR loan which others on this post have mentioned and they've been pretty quick should be able to close before the new year in less than 3 weeks from when I started the process!

Post: RAD Diversified Review — It Wasn't Pretty

Rene Hosman
Pro Member
ModeratorPosted
  • Rental Property Investor
  • Denver, CO
  • Posts 333
  • Votes 314
Quote from @Brent Mendenhall:
Quote from @Brent Mendenhall:
Quote from @James Miller:
Quote from @Melanie P.:
Quote from @James Miller:

does any one know the brother of the owner?  i called a number I found on line and it was his personal number he said and he not working for Rad.  Im sure he has plenty of money now and no longer need to work..he should be in prison


 Please PM me the number you dialed and which brother, if you know the name. If you don't that's fine too. Would like to see if he satisified his outstanding promissory notes. You are correct that they are headed for serious trouble. 

he number i called..cant remember his name but if you see other posts on here he has posted (number redacted) Brent?  said he no longer works there and not to otn to call him when i did..

@Chris Seveney @Jay Hinrichs can either of you two assist me in removing the above post with my phone number listed?  

 @James Miller James, as I told you, I dont work for RADD since September 2024.  I was not involved in contracts, funds, etc.  I left the government after 30+ years to join my brother in Jan 2022.  I am back with the government now.

@Melanie P. I attempted to engage in professional discussions with you on here when I did work for RADD and represented them (Dutch) in a professional manner, you had no desire to do so other than to continue to post.   I caution you now in desiring to call me or reference to me in any way with RADD or contracts, promissory notes etc.

@Scott Trench can someone from BP Corporate please assist in removing the post that has my personal phone number?  Thank you very much.  


 Your number has been removed Brent

Post: RAD Diversified Review — It Wasn't Pretty

Rene Hosman
Pro Member
ModeratorPosted
  • Rental Property Investor
  • Denver, CO
  • Posts 333
  • Votes 314
Quote from @Scott Trench:

@Rene Hosman - Could you please take care of this? I think that this is a reasonable request to remove a personal phone number from the forums. Let's just remove that phone number and leave everything else up, as per our usual policy.


 Agreed! Number has been removed!

Post: Finding an agent in Tennessee

Rene Hosman
Pro Member
ModeratorPosted
  • Rental Property Investor
  • Denver, CO
  • Posts 333
  • Votes 314

Hey @James Mackler I see your issues here, I might recommend embracing the smaller markets with agents that have a good niche in that market. Perhaps you identify 3-6 regional areas you're willing to look at in TN, put in the zip for each of those regions and reach out to different agents in each area. In my opinion you may find better help with a couple agents looking for you in their specific areas versus finding a generalist for a large area

Post: Have you tried tools that report your tenants rent to credit bureaus?

Rene Hosman
Pro Member
ModeratorPosted
  • Rental Property Investor
  • Denver, CO
  • Posts 333
  • Votes 314
Quote from @JD Martin:

We use Turbotenant now and they offer it to the renters for a small charge. To my knowledge no one has done it so far.


 I'm looking at it on my rental software and there is also a fee for it which is the main deterrent for me currently. I figured I could offer to my tenants at-cost if they wanted it. If there were a bulk subscription I could get all my tenants for a low annual or monthly cost I would consider it though

Post: Have you tried tools that report your tenants rent to credit bureaus?

Rene Hosman
Pro Member
ModeratorPosted
  • Rental Property Investor
  • Denver, CO
  • Posts 333
  • Votes 314

I've seen some options recently for credit reporting for your tenants rent payments. Is this something you've ever done as an individual landlord, or is this something more for larger multi-family properties only? 

One positive I can see is it could help some tenants boost their credit scores, while also incentivizing them a little extra to pay on time.  I'm always looking for ways to provide value to my tenants while making our rental properties stand out & this seems like an innovative (and cost effective!) amenity. 

I know that BiggerPockets partner, Baselane has rolled out this feature. It allows landlords to offer tenants a financial perk that can improve their credit health. It seems like a win-win: tenants benefit financially, and landlords strengthen tenant relationships while making their properties more appealing. 

But I also want to hear from you:
Have you offered rent reporting to your tenants before?
How has it worked out for both you and your tenants?
Did it positively impact your relationship with your tenants?
If you haven’t tried it yet, what’s holding you back?

If you’re curious about how Baselane’s rent reporting works or have any questions about getting started, drop them here. Would love to hear from anyone who has decided to use this kind of feature and what your experience was?