All Forum Posts by: Matt Bishop

@David P. Why in the world would you rent to pit bull owners in the first place? I'd much rather have a vacant unit than have the type of tenant who would own a pit bull. Does your insurance company know about this?

We, that's really great.  I'm working on getting more Section 8 tenants because of the certainty of the rent coming in regardless of the economy.  Plus, I've found the tenants really appreciate be treated like a valued customer even more so than those who pay their own rent.  They stay in the one property year after year because they often have a hard time finding a new landlord who will accept section 8. And because they may not have enough money to pay for movers and to put up a deposit on a new place.  Sec 8 is my security blanket.  

Are you all financially prepared for if we have a deep recession or depression?

@Adam Martin, and the tenant has to have pissed off the owner bad enough that the owner returns to the court house to record the eviction and judgement. In Texas judgements and eviction doesn't go on public record unless the plaintiff returns to the court house to file a public record.

@Lisa Connor, a truly great, professional property manager should be able to decide this,( and do this without bothering you about it) I believe that's their job. This shouldn't fall back on you, the owner. My management company has their own standards and they handle everything, yes everything without involving me. They act as my trustee and I am very happy with the arrangement. Sometimes I tell them to not renew a lease so I can sell a property. Sometimes I ask them to get me more Section 8 leases for the stability and security of the guaranteed payment regardless of possible downturn in the economy. I like to have enough guaranteed income to more than cover all expenses. A seasoned, professional manager(the very best in the industry) can make investing more profitable and more enjoyable.

@Sebastian Warg, a home in a neighborhood you want to live in may be a thousand miles away from the best investment property. the northern United States are maybe not the climate, ripe with opportunities and standard of living you would want to start a new life in.

@America Robles, walk away. The title company holding your escrow money should return it to you. If you try to sue the seller for performance, your kid's school year will be over before it ever gets settled. My main concern for you is the emotional toll on you as it drags on, putting your family's life on hold while you deal with the uncertainty of the outcome. The money, attention, time and energy you put in pursuing this would be better spent improving your life and your relationships. Keep smile on your face and gracious attitude. Find another so for yourself and be thankful the housing market is cooling a little as more property becomes available. You may find something you like even better. True, you are in the right, here. Real estate deals are never certain and final until the title company hands the buyer and the seller the recorded documents. Anything unimaginable can and often does happen to collapse the deal. I've experienced both sides, as a seller and as a buyer when the deal fell through because of unforseen events.