All Forum Posts by: Lettie T.

I have a SFH that will be vacant soon. Four days after the tenant moves out, the road will be closed to all through traffic until at least November. Construction crews have already begun building temporary driveway accesses to the homes and all on-street parking has already been suspended. I've never experienced a situation like this so I have no idea how this will impact my ability to show the house and get it rented.

Personally, I would never rent a home in the middle of a construction zone under any circumstances. But I'm wondering if lower the rent or offering the first month for free would incentivize someone. What would you do in this situation?

I purchased a rental over the summer that was already occupied. The lease and other documents provided by the former PM clearly stated that there were no dogs in the household and that pets would only be allowed after a pet addendum was signed. As soon as I discovered the dog, I asked the renter to sign the pet addendum and started charging monthly pet rent.  I explained to him that until the addendum is signed, he is in violation of his lease. He is paying the pet rent but refuses to sign the addendum. What does this mean for me? Can I still enforce the addendum?

He told me that his dog had been living with him all along, and he did put on his rental application that he had a pet. However, documentation from the previous PM states that he said on more than one occasion that the dog was his ex-wife's, she got custody of the dog, and that the dog would never be at his house. So, he lied either to me or to the previous PM.

He also told me he paid a $250 pet deposit when he moved in. The previous PM doesn't charge pet deposits at all and the documents they gave me prove he never paid a pet deposit. So, he's lying to me about that as well.

His lease ends mid-January, so starting the eviction process now just doesn't seem worth it. Non-renewing would be much easier and less expensive. This is my first inherited tenant, so I'm not sure what to do in this case. Advice and suggestions are appreciated. TIA!

I'm looking for someone local to start doing my taxes, preferably someone quite knowledgeable about real estate related tax laws. Any recommendations? TIA

Thank you, you all have provided some great insights I was not aware of. I guess I've always ended up working with a lender that did require the tax returns, bank statements, etc, so I didn't realize some lenders were so lax when pre-qualifying. That makes perfect sense.

I do have a buyer's agent and he's definitely tried to push my offers through. Although, I'm not sure why he didn't just explain this to me the way you all have. I am in the process of getting pre-qualified with a local bank just to get my offers seen, but do plan on using the bank that offers the best loan terms.

I'm a newer investor, so forgive me if this question is nieve, but I'd like some insight. Seller's agents are refusing to present my offers to the sellers without a pre-qualification letter from a local bank. I was sort of warned of this two years ago, when I purchased my first rental properties. My real estate agent had strongly encouraged me to get local financing because he said the seller's agents showed preference to those offers. Well, I did end up going with a local bank then, but only because that bank offered the most favorable terms. 

This time, however, I got pre-qualified with an out-of-state bank because their terms are much better than any of the local banks I've spoken with. I send my pre-qual letter with my offer, and the seller's agents are saying they will not present my offer unless I use a local bank. Two agents have specified which banks they want me to use. One agent even gave me a deadline; I had six hours to get a local pre-qual letter to her or my offer would expire.

When I've had the opportunity to provide more information to these seller's agents, I've explained that I'm local, so even though I'm using an out-of-state bank, I will continue to reinvest in the local economy. I've also explained that the bank I've chosen came highly recommended by other local investors and that I've had a great experience with them so far. But they still insist on a local bank. I'm hoping someone with more experience can help me understand what is going on here. I'd like to understand this situation from the seller's agent's perspective. I can't think of any reason why they would care so much where a buyer gets their funding. Any insights would be appreciated.

Following. I live in Osage County but have SFHs in Topeka. I'm looking to buy a few more this year. It would be great to network with local investors. Everyone in my network invests in counties closer to Kansas City.

Thanks everyone. I ended up going with Shelter.

@Jason D. I have not tried NREIG primarily becasue I've yet to hear anything positive about them. I'll continue to do my own research on them though. It won't hurt for me to call them and ask questions. Do you use NREIG? What's your experience been?

I'm having trouble finding landlord insurance for a house built in 1895. All the companies I've called for a quote so far say they don't insure houses built before 1900. Any recommendations? TIA

I just started managing a property owned jointly by a married couple. The husband is a U.S. citizen, the wife is not. They live in Australia full-time (not sure if that matters). How do I go about preparing tax forms? Do I need to have the wife fill out a W8 BEN? Do I omit the wife from the 1099-MISC? What else do I need to know about tax reporting in this situation?

Thanks in advance!