Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Chan K.

Chan K. has started 77 posts and replied 320 times.

Post: Eviction Attorney - Central MA

Chan K.Posted
  • Lowell, MA
  • Posts 335
  • Votes 52

Hi,

I am going through an eviction process now. I was wondering if anybody know of an affordable eviction attorney local in the area. 

I have an experience person helping me out going through the eviction process.

The attorney will only be there in place of me whenever he/she has to go stand/representing me in front of the Judge or official at the court house.  This way, I don't have to drive to town and involve in the process.

I don't think the person that is supporting me could stand for me at the court as he is not a member of the LLC or an attorney.

Thanks,

-Chan-

Post: Boston, Lowell, MA - Business Unsecured Line of Credit

Chan K.Posted
  • Lowell, MA
  • Posts 335
  • Votes 52

@Leo B.Thank you Leo for a great reference. I will reach out to him once I closed on my quad in the near future. 

Do you personally have any experience using unsecured business line of credit that you can share?

Please PM me if you want to keep it private. 

Thanks,

-Chan-

@Victor N.@Kyle Hipp@Joel Owens

Thanks for the feedback.

We already served him the 14 days notice. I guess the tenants bother everyone in the building with the partying every Fri and Sat late at night. He has random people coming and going. I finally give him the 30 days notice, but then he stopped paying. 

I don't mind fixing the real issue, but what happen if he breaks things on purpose. You can only fix so much to realize that he won't pay and walk away from it for free. 

Would I be able to get a debt collector to go after him and his paycheck at work?

Also, only him has his name on the least, but there are people camping out in the unit and a lot of people going in and out. Can I consider people that is not in the least a vandalize?

What can I do in this situation? Can I call the cop?

Even if I told him or other people not to step on my premise, he won't care?

@Josh BakhshiHi Josh, there is no exact hour, but reasonable notice in MA. I usually use 24 hours. I will go in with/without the tenant in the unit. If the issue is affecting other tenants and critical, I can go in immediately with/without tenant is there once I let them know I am coming.

So, it sounds like you are saying, I don't required to do anything if I want to. You are recommending I should go fix issue just because it is my property and I don't want it to be in a bad shape.

Hi,

If tenant stops paying rent and landlord is going through an eviction process, does landlord required to fix broken stuff in the evicted unit while the eviction is going on?

For example, the evicted tenant called for a broken light bulb or leaky sink.

Regards,

-Chan-

@Rob Belandand @Randy E.

Thank you for your feedback

@Randy E.

I initiated the call to the inspector just find out more about the BOH concern. To my surprise she was very professional and pleasant to talk. I had like a 20 mins conversation with her, and she gave me a lot of tips about the property that I did not know about before. 

At this point, I know who is the trouble tenant and I have no obligation to keep him after 1-month for a month-to-month tenant at will.

@Rob Beland

I tried to negotiate the seller to evict all tenants, but he would not do it. So, I have to go through it myself and absorb the expenses if I want to close on the house. As much as I try to avoid going through the eviction process and have to deal with trouble tenants, I could not avoid it as I continue to grow. I will need your service when the time come to evict someone. Does the town allow non-owner or non-attorney to represent owner in court in addition to you filing the paperwork?

Yes Rob, based on her written report, I could tell that she is a very details oriented person and professional. Usually, the trait take their job very seriously.

Thank you for the excellent advise on getting the unit to inspect first by her prior to renting it out.

What struct me during my conversation with her is that she mentioned she only gets into the unit to do the inspection if the tenant in that unit calls her. I don't know if this the law or her way of doing it. I guess it was not a time/place to explore that details with her as it was our first phone call. For example, if Unit 3 calls her, she has not right to perform inspections on the rest of the Units. 

Hi Experience Landlord of Massachusetts, 

I am in the process of acquiring yet another building. After the "Contract to Purchase" agreement, I discover that the property has some Board of Health issues. Also, some tenants have stopped paying since then. 

My question is: Is the tenants stop paying (or is it defer paying), once all the Board of Health issues/concern have been addressed, can I start collecting the defer payment?

Also, I am also concern that the Board of Health has eyes on this property, it is going to be tough getting them off my back. What should I watch out for and ask before the closing in addition to sustainability and management standpoint going forward?

FYI: I have been calling and building relationship the board of health inspector. She is every details oriented, and even failing thing like hole on the screen window ......etc.

Thank you ahead.

-Chan- 

Post: Boston, Lowell, MA - Business Unsecured Line of Credit

Chan K.Posted
  • Lowell, MA
  • Posts 335
  • Votes 52

@Mark NolanThank you for the reference. 

@Simmy AhluwaliaWhat is the going rate after the introductory rate? Is it interest only after for awhile, and what is the term for this? Please PM me if it is too sensitive to talk here. I want to use it to consolidate my unsecured personal loan, and accelerate my saving from the cash flow and work. 

Post: Boston, Lowell, MA - Business Unsecured Line of Credit

Chan K.Posted
  • Lowell, MA
  • Posts 335
  • Votes 52

@Larry TurowskiHi Larry, thank you for the information. It sounds really great. At least, I learn about the non-recourse. For time being, all the banks I work with required me to guarantee the loan as well when handing out the loan to my LLC. I guess, they are generous enough to allow 75-80% LVT financing.

In any case, I found a bank that allows business unsecured line of credit of up to $40k.  I am looking to start out building a relationship with someone who can offersup to more than $100k.

Post: Boston, Lowell, MA - Business Unsecured Line of Credit

Chan K.Posted
  • Lowell, MA
  • Posts 335
  • Votes 52

For those that have gone through this process in the past, can someone recommend any good banker/lender that offers business unsecured line of credit?

I am not talking about institutions that only allow up to $25k. 

The LLC will be the entity that takes it out the loan.

Thanks,

-Chan-