All Forum Posts by: Nancy Wang

I just ordered the David Green's book and also a book called Vivid Vision which I heard from Brendon Turner's podcast last Thursday. 

We have some local construction management experience - mainly dealing with contractors and handyman for repairs of my rental properties locally. I know it is not easy. 

Another thing I learned is that for a property of this price range I should have bought insurance higher than the property value. They will deduct depreciation. I lost money as a result.

Thank you Antoine and Rick!

I will check out on the book...

Hi BP,

My turnkey long distance investment in Memphis TN went okay until the tenant stopped paying her rent last August.

The PM evicted the tenant last December (several months of non payment). I had to pay $5500 rehab fee to make it marketable right after tenant was evicted last December.

Then in January the house was destroyed by a squatter (PM told me so). The PM was not helping much in getting my insurance nor did anything to prevent the house from further damage. It was just left rotten. So I have canceled the agreement with the PM.

We are thinking to do a rehab and sell it ourselves. But we are in Boston and have never done a long distance repairs before.

Have you ever done it? What do you suggest on finding a good local contractor? How do I manage the contractor long distance? 

The houses in the neighborhood goes for $50k-$60k. 

Thanks

Update of the situation: I have hired a constable to serve him 14 day notice. He moved his stuff finally. 

Thank you all for your replies!

Maybe I will.

Thanks Mark!

Some tenants are just very needy - sometimes you just have to ignore non-issues. Do you have a clause in your lease on her paying for minor repairs? 

Some tenants are very independent too and take care of things for you. Just don't give up your real estate investment - it will get better.

I would just say no - telling them insurance won't allow that in the backyard.

How do you manage properties in Jacksonville? Which PM do you recommend?

Hi,

I recently closed a two family house in Massachusetts. It has a garage that the seller rented to someone who is not a tenant and there is no written lease or contract for using the garage. The guy doesn't want to pay for the garage and doesn't want to tell me when he is moving his things out. He has a very bad attitude. He yelled....

I gave him till end of May to remove his belongings. 

What do I do if he doesn't move by then?

May I throw his stuff out - mostly construction leftover materials.

Thanks,

Nancy