All Forum Posts by: Nathan Williams
Nathan Williams has started 35 posts and replied 167 times.
Post: Apartment Syndication vs. Turnkey Single-Family Rentals
- Posts 172
- Votes 93
I agree with Todd, not a fan of turnkey provider arrangements at all. You are coming into the deal at an inflated price and the expenses tend to quickly rack up if you give them full control in managing the property.
Post: House hack in Menifee, CA.
- Posts 172
- Votes 93
From what I see what rooms for rent go for in more centrally located areas of inland So-Cal, I think that price range is a bit on the high side.
Post: Lease is up and the renters won't leave...help please?
- Posts 172
- Votes 93
could be alot worse with tenants who dont pay and refuse to move. If I was personally in that situation I would just count myself lucky to still be paid rent and keep that cash flow rolling until this whole moratorium stuff is over or try to sell to an investor who doesnt mind that there are existing tenants that are paying their rent on time.
Post: Seeking (More!) Biggest Mistake/Lesson Learned Stories
- Posts 172
- Votes 93
-investing in too many condos -it was ok early on when that was just about all I could afford but I should have moved to SFH much sooner instead of buying a rental condo for my first 4 investments... the HOA assessments kill the ROI compared to SFHs
-not vetting people I work with a little better. Got burned by a property manager and repair contractor who ran off with my money. There were plenty of red flags to be found if I spent a little more time researching their info online.
Post: Is this the last moratorium extension
- Posts 172
- Votes 93
I wouldnt be surprised if it gets extended. Governments have realized they could get away with this with relatively little push back. (lets face it, the outcries of the "Cancel Rent!" crowd deafens the complaints that us landlords try to make over this). Being able to push the problems of potentially homeless people onto the "evil greedy" landlords and telling them to just suck it up is just too cushy of a setup for governments be in a hurry to end.
Post: Repairs are killing me!
- Posts 172
- Votes 93
I like to buy owner occupied homes as much as possible... they tend to have much less issues pop up due to the TLC an owner would put into the home they live in. Its also invaluable to have an excellent handyman in your corner who can fix most issues without breaking the bank.
Post: holding deposit... what if applicant backs out? (Indiana)
- Posts 172
- Votes 93
I usually require half of the deposit for a tenant to reserve a unit for up to 3 weeks. I was curious, what if the person backs out and never moves in? Do I have grounds to keep that deposit?
Thanks
Post: NEW eviction moratorium extension to Sep 2021 being proposed
- Posts 172
- Votes 93
what I really dont get is if you are giving people all this free money in unemployment bonuses, stimulus checks, and rental assistance so that they can pay their rent, why also prevent them from getting evicted? This is dangerously conditioning people that they dont have to be responsible with their obligations.
Post: NEW eviction moratorium extension to Sep 2021 being proposed
- Posts 172
- Votes 93
FYI for anyone who needs to plan accordingly.
https://www.washingtonpost.com...
Biden's stimulus package proposal includes an eviction moratorium extension to September of 2021. They are trying to put in rental assistance programs this go around atleast.
Also it looks like some judges are using these moratoriums as a green like to prevent eviction for ANY reason so be careful on your tenant screening!
● Ensure that families hit hard by the economic crisis won’t face eviction or
and foreclosure moratoriums and continue applications for forbearance on
federally-guaranteed mortgages until September 30, 2021. These measures will
prevent untold economic hardship for homeowners, while limiting the spread of
COVID-19 in our communities. The president-elect is also calling on Congress to
provide funds for legal assistance for households facing eviction or foreclosure.
● Help renters and small landlords make ends meet by providing an
additional $30 billion in rental and critical energy and water assistance for
hard-hit individuals and families. While the $25 billion allocated by Congress
was an important down payment on the back rent accrued during this crisis, it is
insufficient to meet the scale of the need. That’s why President-elect Biden is
proposing an additional $25 billion in rental assistance to provide much-needed
rental relief, especially for low- and moderate-income households who have lost
jobs or are out of the labor market. The president-elect is also proposing $5
billion to cover home energy and water costs and arrears through programs like
the Low Income Home Energy Assistance Program, for struggling renters. These
funds will ensure that the hardest-hit renters and small landlords, including those
in disadvantaged communities that have suffered disproportionately in terms of
pollution and other environmental harms, aren’t put in the position where they
can’t cover their own housing expenses. This program includes a competitive
set-aside of funding for states to invest in clean energy and energy efficiency
projects that reduce electricity bills for families in disadvantaged communities.
Post: loopholes to add to lease to bypass eviction moratoriums
- Posts 172
- Votes 93
Originally posted by @Dena Puliatti:
In order to not be a evicted, a tenant must sign a sworn affidavit stating that they have been paying a little all along and making their best effort. You can learn more about it at cdc.gov
understood but the moratorium does not provide any explicit avenues for landlords to challenge tenants who sign this and dont make "best efforts" to pay what they can. For example my tenant signed this and balantly failed to make best efforts by paying ZERO ever since. I talked to multiple lawyers and they said there is nothing they could do with the signed declaration.