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All Forum Posts by: Katrina P.

Katrina P. has started 37 posts and replied 178 times.

Post: Ever get discouraged in REI?

Katrina P.Posted
  • Investor
  • Randallstown, MD
  • Posts 185
  • Votes 57

So, 4 rental properties and 1 flip later, I'm getting discouraged. I'm pregnant and sick, and SICK of dealing with tenant issues and contractors. Plus, our flip has been on the market for about 3 weeks now, with no offers. I'm sorry to say I'm getting a little discouraged. It doesn't help that I'm pregnant and sick, I know. But has anyone else ever been discouraged? So far, REI seems like such a hassle. I need some encouragement. Oh, and utilitiy payments on all these houses are DROWNING us and totally depleting any cash flow.

Post: Problems with tenant BEFORE she moves in...HELP!!!!!

Katrina P.Posted
  • Investor
  • Randallstown, MD
  • Posts 185
  • Votes 57

Thanks for all the input, guys. It was really helpful.

Post: Problems with tenant BEFORE she moves in...HELP!!!!!

Katrina P.Posted
  • Investor
  • Randallstown, MD
  • Posts 185
  • Votes 57

My point was not to try and get her to pay for the door at all. I just didn't want to tell her that it appeared someone tried to break in. I don't think anyone got in. She didn't complain about anything missing. My maintenance guy said things looked the same. She's moving out this week. I'm happy about that.

Post: Problems with tenant BEFORE she moves in...HELP!!!!!

Katrina P.Posted
  • Investor
  • Randallstown, MD
  • Posts 185
  • Votes 57

^ thank you! But how should I tell her about the door?

Post: Problems with tenant BEFORE she moves in...HELP!!!!!

Katrina P.Posted
  • Investor
  • Randallstown, MD
  • Posts 185
  • Votes 57

UPDATE & advice needed:

So, we fixed 90% of "the list", and then she discovered a leaky pipe in her kitchen ceiling; we fixed the pipe and then began to repair the ceiling while she was out of town. She told me that she didn't understand why it would take us a week to fix the pipe (when in actuality, it was only going to take about 4 days to fix the leak and repair the ceiling). Anyways, while my maintenance guy was in there fixing that leak, he disovered one in the bathroom (the house was vacant all winter, and was not properly winterized), and he fixed that one too. Well, he's still in the process of repairing the two ceilings (waiting on joint compound drying time). So, she emailed me this morning, and said she just doesn't want the apartment anymore...YAY!!!! So, anyways, we will certainly let her out of her lease. But there's one other issue, when my guy arrived to sand today, he noticed that the door jam was damaged - it looked as though someone had tried to kick in the door...NOOO!!!!!! So, he's going to repair it, and he's going to change the lock on the outside screen to a lock that will also lock from the outside (right now, it only locks from the inside). So my questions are as follows:

1. I plan to give her security deposit back; but should I give her back all of her rent check as well, just to compensate her for the issues she had while she was there?
2. How should I inform her about the issue of the door? I don't think we have any liability for it, do we? Or if she claims that she had some things stolen, do we have liability for that? I guess my assumption is that's the purpose of renter's insurance, and that's the tenant's responsibility (and risk if they don't get it), correct?

Katrina

Post: Problems with tenant BEFORE she moves in...HELP!!!!!

Katrina P.Posted
  • Investor
  • Randallstown, MD
  • Posts 185
  • Votes 57

I'll admit..it's an EXCELLENT list; and I will certainly keep it on hand going forward in this business. lol

Post: Problems with tenant BEFORE she moves in...HELP!!!!!

Katrina P.Posted
  • Investor
  • Randallstown, MD
  • Posts 185
  • Votes 57
Originally posted by George P.:
Originally posted by newlife30:

$375 is just for the one unit...the top unit will be rented out for $400, so that's a total of $775/mo, at $10k all-in.

$10k includes closing costs and renovation costs?
That sounds like a good deal. Money back in a year.
Just curious how much are the property taxes.

Yes, the $10k (actually it's more around $9k) includes purchase price, closing costs and renovations. The taxes on this one were $1320 last year.

Post: Problems with tenant BEFORE she moves in...HELP!!!!!

Katrina P.Posted
  • Investor
  • Randallstown, MD
  • Posts 185
  • Votes 57
Originally posted by Jon Holdman:
My point was that if this was across town she could run over there and have a look and know what's going on. When I wrote that she had not said or I missed that dad was there in town. That makes a huge difference.

I'll stand by the point, which you make, too, Mike, that you must have someone you trust intimately on the ground wherever your properties are.

And I agree that units with rent this low are going to be troublesome. Nevertheless, a $375 rental that's all in at $10K sounds pretty attractive. My father-in-law had a pretty good business going with rentals like that.

$375 is just for the one unit...the top unit will be rented out for $400, so that's a total of $775/mo, at $10k all-in.

Post: Problems with tenant BEFORE she moves in...HELP!!!!!

Katrina P.Posted
  • Investor
  • Randallstown, MD
  • Posts 185
  • Votes 57
Originally posted by Jon Holdman:
Your painters also painted over cigarette butts, according to this prospective tenant.

I'd agree that she's probably too picky and you're better off without her. But I continue to believe you ignore the issues she's raised, and continue to believe your contractors at your peril. Their stories are inconsistent and that makes the situation worth checking out.

The part about painting over cigarette butts, I addressed with the painters, and they said that was a window seal that they did not paint because it was already painted, and looked nice...they looked deep down into the window, and they DID see the cigarette butts (after I pointed it out to them), but they said she would have had to really look deep down to see that. However, they have since removed them, of course.

I am not ignoring any of the issues raised...trust me...I'm just not that type of person. The information/confirmations I'm getting is not only coming from my contractors...everything is being confirmed by my dad! He lives there; he's a master electrican, and he was in Real Estate for 20 years...so his opinion of the matter is highly respectable. Thanks again for your input, Jon...It's truly valued!

Post: Problems with tenant BEFORE she moves in...HELP!!!!!

Katrina P.Posted
  • Investor
  • Randallstown, MD
  • Posts 185
  • Votes 57

One last thing, and I'm done (I think..lol). My painters painted above the cabinets (that she claimed had syringes on top of them), and they saw NOTHING of the sort. I just don't know what her intentions are...would her point be to suck us dry every month, or make bogus claims and withhold her rent?