All Forum Posts by: Lisa Martin

 Yes Jonathan you called it!  :-)  

Hi Richard, Thanks for answering! This is actually what just occurred. I'm supposed to be getting a $10k payment for rents owed and payment for 3 months rent in advance.  

Unfortunately the rent is at $1325 with market rent at $1690 so I let the property manager know to not sign or agree to anything  more unless it is approved by me.   Ideally, they could request a rent increase and the tenant could qualify for 100% assistance going forward.  Otherwise I want her out. I don't like the games being played at my expense here.  I'm not a lender! 

Refinance (BRRR)

 Ouch. Thank you and good luck with your financing :-) 

So helpful Calvin.  I will try Google. 

What's the going rate for 30 year fixed DSCR (loan amount approx $150k) Good credit and enough experience investing. Looking to add to my portfolio! Yay!

You can find Dean Harris's videos on you tube.  Good info. 

Thank you all for the helpful replies. Tenant has been given an eviction notice.  I hope I can figure out who to call and that the property manager shares more detail.  I will be moving this property to my other manager as soon as I can!  I had to do that last month with another property that they were managing poorly   :-(  

Hi Glen,  

Thanks for the input!  It’s crazy that a person who is getting good government assistance doesn’t pay.  It seems like a sweet deal for the tenant and the house is actually great in a B area.  An eviction notice has been sent.   I hope she is gone soon.  

Ive been getting more than my share of tenant lessons lately unfortunately! 

Section 8 tenant in Tennessee is behind on rent.  I purchased the property with her lease in place 6 months ago.  Section 8 is supposed to pay about half of her rent.  I'm trying to get used to the timing of when the different payments come in.  Now I'm not getting paid!   My property manager isn't providing information about if the housing authority will catch up her rent or what is going on.  I would have fired them but we are in the thick of this now.  I think there might be paperwork to get her more assistance but I have no idea and the total past due keeps climbing !  $4112.50 behind so far.   What do I do?  I need to recover these losses.  Evict now?   Or is there something I'm missing from the complicated section 8 process. 

Here is what propertyware software tells me: 

lease dates 3/1/23-2/29/24 ,  rent amount $1325 ,  last payment 12/21/23 ,   $4112.50 past due