All Forum Posts by: Maricela Chavez

Walt Philip, if they add it to the back of the loan, then I’m the one getting the screws, since I’m the one paying the mortgage.

The unit I speak of is a Duplex. So I have continued to pay the mortgage since March. I know the CDC does not want homeless people making covid worst but then why not pay the rent for them? I mean I’m paying right now out of my Pocket. I can also afford to continue to pay because I’m working but essentially I’m losing income each month and with the one tenant paying I am able to not come out of pocket. I think it’s a gross government over reach. This person is definitely abusing the system, and he has been a terrible tenant from the beginning. I did call the mortgage company and told them what was going on, they said they could postpone payments for 6 months and that it would not affect my credit. That’s my biggest worry, that at 6 months the CDC will extend the date past the 12/20 date. It really makes me sick to my stomach. 

@L Belle if you don’t have to rent it out, don’t. I currently have 2 people not paying me. They are clinging on to the idea of free rent. I would much rather pay for the mortgage on an empty house that some jerks that are just not paying because they are clinging to a bail out. I would wait until after December 2020.

I’m a landlord with 6 properties, 3 of long term tenants have decided to cover themselves with this covid blanket. He’s about 6500 past due. I’m in Georgia and counties aren’t hearing any cases. I understand the CDC has extended the cares act until 12/20. I think it’s a gross reach into my pocket. How are they bailing people out on my dime? When this virus happened back in March, I didn’t stop making my payments on my mortgage. Why do I have to ruin my credit and accumulate mortgage payments because the government wants to bail people out of paying their rents. Especially when these people are working and getting a paycheck.

I found this site about 3 years ago. I’m a Realtor and I invest in homes in my area. I’m not a newbie I have done some flips and I and I have since then purchase 2 multi family properties, a single family, and have flipped 3 houses and have made great returns on all of them. I just bought a duplex in Decatur Ga. and I am in the process of renovating it so I can rent it out. I don’t get on here very much because I’m busy. I don’t have time to chat with folks or respond. I have never talked to anyone from here about any moves that I make. No real connections per say. I just do my stuff and rarely log on here. The people that I do chat with or brainstorm with I have met in the areas that I work. I love to pop in and say hello and check out their projects. Not sure how many post one can read about being a newbie and being afraid of making the first step.

I’m going to assume central Georgia is Macon? There are a few things that are unclear, unless I missed a comment. Have you ever raised the rent? I usually will rent for no more than 2 years at a time and then I charge 10% at lease renewal. Obviously the market has to be able to stand this. If you aren’t even asking though I think you are selling yourself short. Rents are going through the roof right now. I’m in atlanta so I know that this is not your market. However properties are appreciating at a fast rate in most markets. A bubble? Maybe but we have a way to go. There lenders aren’t doing any crazy stuff like back in the day. I would keep the property as long as you can. Raise the rent if possible. If you have to jump ship see if Tenant wants to buy it. Also since folks are going to be calling you for repairs, make sure you let them know that repairs less than 75 dollars are on them. Or whatever amount they will agree to. This way they aren’t calling you for a stoped up toilet. When the economy tanked I had a rental property that I almost lost due to tenants vacating without notice. I almost lost that home. I paid 165k for it. I lived in it for 4 years and moved. I have had it as a rental now for 11 years. I owe 80k and it’s worth 250k. So hold on if you can.

I usually give 3 days, after 3 days I charge them 75 dollars. If it’s in writing and you have a talked to them and it’s part of the lease you shouldn’t have any problem. I don’t understand the regulated part. You aren’t a lender. You’re a home owner. Obviously it’s not some crazy fee, because people have to agree to it. No you don’t have to give them any extra days. But that’s not going to work either right? I mean things happen. So I work my tenants because I expect them to work with me.

You should be able to find someone that can install new hard wood floors in the missing areas. People make a living doing this. Replace needed floor, leave existing floor, and refinish all floor in stain of your choice. Make sure to look for damage or stains on existing flooring. I just had this same issue, there were a couple of areas that had some old stains on them. So I went with a darker color.

Call his broker. I have done this in the past after making full price offer and getting no response from the agent. Turns out the seller had no idea that the agent wasn't responding. Called his broker and received a call within minutes. Yes that agent works for his seller but you work for your buyer. Period. If your buyer wants the house, rattle his cage. Call broker and express your concern in a nice manner. On my particular case, my client really wanted this property. So I was not about to let some Lazy non responsive agent prevent that. My buyer closed on the house.

My lease specifically states that we will give notice of x and that if they refuse they will be charged 75 dollars per time. Also it states that they will give 60-90 days written notice prior to moving out and I will be allowed to market the property during this time.