All Forum Posts by: Myka M.

Well I guess I should have thoroughly read what she said, yes that is illegal. You would be acting as a Realtor.

You need to send a certified letter, detailing the lease agreement late fee clause. Keep a copy for yourself, of course, give a date that the fee needs to be paid by and list any consequence that may be deemed appropriate.

What I do is I grace one or two late fees if the tenant is forthcoming with their circumstance. For instance one of my tenants was in the hospital and missed two weeks worth of work. Of course I would rather have a tenant than an empty so I let her pay over a few months. Since she is a good tenant and usually has not been late in the past I made an exception. Be careful with this though, you want to be fair in all your business. If you do it for one try to make sure you are reasonable and can do it for anyone else (like in 2-4 unit). You don't want any hint of favoritism ( that is an ugly horse to put down)

It's really up to you, is this a good tenant or someone who has been with you a while. Do they keep you informed? Do you have a payment on the property? Do you have money put away for these payments in case of vacancy? All of these questions factor in when dealing with tenants.

The day you get a tenant, better yet, the day before you get a tenant you have to decide what your standards are gonna be. What you can allow and what you can not. Some properties may be different than others, some you may be able to let slide a little and some you may not. Some tenants may be different than others in the same way as well.

Julia, it depends on where you are. For instance, in Dayton, Ohio we have a joint office for citizen complaints. If I was a renter and I had an issue with my landlord the general rule is I would complain to them. If there is something in my house that my landlord wouldn't fix I would pay my rent to this office and they would handle the landlord and legally wouldn't pay the landlord until the matter is solved.

Since I had knowledge of this this is the first place I started when I got my first tenant. They gave me a list of how to properly handle situations where my tenant wouldn't pay.

Here we have legal routes we must take... Personally, If they are late 5 days they get a notice and a fee. 15 days and I automatically send a notice to vacate regardless of whether or not they have an arrangement or agreement with me they know to expect it. (This way if they don't come through with their part of the agreement or arrangement we made I can start the eviction process) You may want to contact a lawyer to make sure that you are doing things correctly.

Just an FYI, don't worry about peoples feelings or that they might be offended, this is part of business and you have to protect yourself because obviously the people that are not paying the rent don't have your best interest at heart. When I first got started I didn't want to do these things because I was worried about this, it took me almost losing my house to wise up.

The only way to find out is to try. If they are your buyers and have worked with you before then there shouldn't be too much hassle. If they haven't worked with you before you have to present it to them just like it's every day business for you. When you are confident and present it as such there shouldn't be any problem.

Hope this helps a little.

I would like to find someone out there to follow, someone who has the same goals as I do. So I would like to pose a few questions to see if I can pull out some knowledge... not only for myself but for others to view. Anyone willing to answer these questions, NO selling here.

1. What was your first deal?
2. What were your goals when you first started out?
3. How did the deal end up?
4. What kind of deals are you doing now?
5. How is what you are doing now different from what your goals were when you started?
6. Is there any advice that you would have given yourself when you first started to help yourself from making a mistake or wrong decision?

To any that answer these, thanks!

Good info, thanks for the input!

Originally posted by Mark Yuschak:

I never thought it would be this hard to give away real estate. lol

Had the same problem here. My first buy ever was at a city auction. There was a picture of the house and that was it, I didn't know then what I know now so I bid. Only took one bid... mine.

Imagine my drive past... 33 blank ave, 36 blank ave, 42 blank ave... wait where's 38 and 40??? The city had torn down the building months prior. I still have that lot to this day! LOL!

Originally posted by motiv8td:

You're preaching to the choir with me LOL!!!

There are some tricks and tips to make sure you're working with a legit agent and how to get them to actually work with ya but it takes time.

Can you share some? :lol:

Guys, I'm in Ohio. 100k for a house is... about the highest we go. I mean there are some million dollar homes out there but, okay... maybe there's 10... 1 million dollar homes within a 60 mile radius of Dayton.

Keep that in mind. WE have probably the cheapest real estate in the nation. Or close to it. When I look at the MLS here our listings, even in good neighborhoods go for about $68,000. The ones in the great neighborhoods average around 89 to 90. So don't forget location, I am not in California or Florida.

Have you found a lazy agent who either didn't know what he was doing or didn't want to put in an offer for such a low price. I have been finding alot of this lately.

I attempted to work with a buyers agent once... no go... he was afraid to put in the offers I gave him because HE felt they were too low. Only thing you can do is move on :idea: the market is crazy right now and the weird thing is there are agents out there that would rather NOT get paid than put in an investors "low ball" offer.

Example: I just offered 17,000 for a HUD home that was listed at $27,000. The Realtor took all my info and said she would put in the offer... she didn't. I had someone else do it after checking the site several times to see when the offer was placed, it never was. The offer was accepted after actually being placed through my new agent, meanwhile this lady... "any Agent Smith" we'll call her, insists she put in the offer and it was rejected. I am still playing along with her... "oh look 17,000 the offer was accepted, was that the offer you put in?" I ask her holding back from a deep gut laugh, knowing that was my offer through another agent.

Needless to say, i haven't heard from her since... I call... LOL! My new agent will now get commission on the HUD sale and what I resell the home for. Plus all my future business that she can handle the commission may not be much but as my new agent says... It beats a blank.

I don't know about you but I would rather get several small commissions that add up at the end of the year than one semi large commission every few months. How about taking the small commissions and adding them in with the larger ones, in Layman's terms it's called work.

Poor Any Agent Smith She Lost out! Who knows what these guys are thinking these days!

Anyone else have issues with Realtors lately?