All Forum Posts by: Lynn Funna

Thank you Nathan!

Hello everyone,

I have been given 15 day extension to show an effort to do repairs on a large SFH that now has a unlawful detainer/former tenant who has been found subleasing, damaging the property and preventing contractors from entering. I tried to evict with denied appeals, and now the code enforcement officer is giving me till December 3rd, however the person is to move out by December 1 per notice from code enforcement and is working with case manager for placement. I am so frustrated and saddened this person did such a thing but was told that If I sell the property, which I prefer to do by seller finance, the code enforcement cancels. Does anyone know of a site or common place to meet investors and rehabbers to make a deal with. I have a few realtors whom I have relations with however my network does not specialize in creative financing. Seeking creative financing to sell the house and let the new owner take over. Any feedback is appreciated.

Lynn from STN MTN, dekalb co GA

Hello BP community,

I have given termination of lease to end this month to a Sec 8 tenant who violated the lease with subleasing, damage, and failure to cure and repair damages est. $35,000. Tenant continues to request a complaint inspection even after she is to move out. I plan to evict them however wanted to know if anyone knows of any landlord programs or resources to assist with repair costs, currently the housing authority will not pay for any repairs. Home is under Dekalb county GA in stone mountain.

Kind regards,

Lynn

Hello BP community,

I have a 6 br home in stone mountain, with finished basement. Originally I wanted to operate a personal care home, however would much rather rent the home to an operator with hopes to negotiate higher rent. For those familiar with this strategy your feedback is greatly appreciated.

Lynn

Hey Matt thanks for reaching back. They are looking to downsize for sure, been thinking to offer lease option instead we both can try before we buy.

Hello BP community! My family of 6 live and own in a ranch style 3br/2.5ba house with completed bonus room upstairs in a HOA neighboorhood. One of my neighbors met with me the other day, who is retired along with her husband and they plan to sell their paid off 5Br with completed basement house valued at $750K in the same neighborhood and buy a smaller unit near Warner Robins GA. Being the novice savvy investor I am, I want to make a deal to house swap, move into their bigger home for my growing family, and have them move in our home that is more favorable for senior living. I am also aware of assisted living facilitites and services offered in the Warner Robins community, as I assume this is their reason for place of choice. If they offered seller finance to us, those funds could then be used to pay for the lease at our home if we swap however they are retired, what about tenant screening amongst other things, not sure what type of deal structure is best for this scenario but if anyone can guide me with any feedback is greatly appreciated. TIA from Lawrenceville GA

Thank you @Benjamin Aaker this was the original plan I wanted to do that way I stay out of trouble.

@Tony Savage my thoughts exactly, except their case worker never responded to me.

@Nathan Gesner I agree, because my rental is a business and I shouldn't waver away from the screening process even if its just a trusted contractor, but funding is what we need and I heard the SBA is a good source but is slow, thanks for responding.

Hello BP community! I have a long-term rental in STN MTN (Stone Mountain) GA, and have a one year lease with a section 8 tenant and content with the cash flow, however, I can make more if the basement gets converted to a separate unit. I say this to say my contractor, who we know and love, is interested in renting the basement in exchange for upgrading the basement that way I can rent the basement and upper level to get more cash flow. I would like to know the best approach to let the tenant know about the repairs with the option to modify the lease for a smaller unit, I don't want to come across as a shady landlord, because I like the guaranteed check from section 8 and the tenant. Your feedback is appreciated.