All Forum Posts by: Matt D.

@Wilson Lee

For whatever it’s worth, I’m not sure I understand what the building code and the lease have in common or how the tenant has been damaged because of such. What exactly are his damages?

If the lease is over and the tenant is not being cooperative while you are in a tough spot then you have no option but to evict. A judge will only award damages and I do not see any unless there are others facts.

Nevada Clarke County has a strange transfer tax rule whereby if you transfer the property to yourself from an LLC that you 100 percent own, you have to pay transfer tax. Yet when you transfer from yourself to an LLC that you own, you do not. When you go from one corporation that you 100 percent own to another that you 100 percent own, you do not have to pay transfer tax on it either. I do not understand why it matters. Any ideas?

@Syed H.

Sure, I’d love to get a reference. Sorry I took so long to reply to this.

Hello

It’s interesting because the banks are now sending something out making you certify 100% that is absolutely “necessary” that you get these funds in the Paypal Protection Program. I’m not sure what that means. Does it mean I’m going to homeless if I don’t get those funds? I have had to stop hiring workers and subcontractors and had about 5 projects go sideways because of financing and this mess. Do I have to quit playing golf? Do you have to dip into your kids college savings to survive? Do you have to max out credit cards? I’m not sure I understand this new interpretation.

I don’t understand whether this is a welfare check or if it’s an economic stimulus check where I can hire people and kick butt a little bit harder. What is the intent?

I wonder if some of other flippers are getting these emails because the banks are telling people to give back the checks if this is not the case.

I was turned down for financing on about five applications lately. Does anyone in this forum understand where the line is drawn?

Never use PayPal. I had a tenant use it then i took the property off the market and set it for move-in. The tenant backed out of the deal and Paypal pulled the money back into their account. Then gave the tenant their money back. Never used PayPal.

@Aaron K.

Thanks for the reply.

@Terry Lao.

Good info. I assume in your rental postings that you just mention that you except section 8? Or do you actually have to call the government and let them know?

How long is the statute of limitations? Would need to know more about the demand letter.

Have several tenants not paying. Not paying rent to the landlord is quite honestly not fair and unscrupulous in many situations. I have tenants that are borderline laughing at me because I cannot do anything and they know it. Many of them have jobs, are collecting unemployment, or some other sort of income. Why can’t they pay half the rent 25% of the rent 75%. I wish the government would make a move on this.. I’m just not sure there’s anything we can do. I believe in tenants rights and I believe in tough times but they should have to pay at least 50%. I’m in Las Vegas and if the law allows, I think I am going to start sending some direct emails.

Any ideas?

@Carl A.

Have you asked to see a copy of his financials in order to determine the state of his company? If your location is one of the highest producing locations he has and he’s making a lot of money, he will not lose it.

I agree with some of the other post that he’s taking advantage of the situation. I’ve had a fair amount of tenants in that industry and a lot of them are not drastically affected by changes in the economy.

No business man will walk from a cash cow if that is what your location is for him. Depending on your personal financial situation, I would call his bluff. I would be willing to bet money that if you did not reply that he would pay his rent.

He is a business person and so are you.