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All Forum Posts by: Nolan M.

Nolan M. has started 27 posts and replied 140 times.

Post: HELP! PM misquoted due-by date - should I waive those late fees?

Nolan M.Posted
  • Rental Property Investor
  • Mesa, AZ
  • Posts 143
  • Votes 187

Sounds like you answered your own question! Looks like everyone is on the same page now, no need to screw them over for following what your PM told them.

Post: Removing tenants to house hack a duplex

Nolan M.Posted
  • Rental Property Investor
  • Mesa, AZ
  • Posts 143
  • Votes 187

Hmm, sellers agent should have known that you were moving in after the sale, considering you are using an FHA loan. I'd do what I could to have the seller solve this problem, they're the ones that caused it. The seller should be offering cash for keys, not you.

Post: Problem Tenant threatens to Call the News (long)

Nolan M.Posted
  • Rental Property Investor
  • Mesa, AZ
  • Posts 143
  • Votes 187

Considering this guy is in your house, I'd say if you "feel threatened" you can ask for a restraining order from a court. If granted and once served to the tenant, he would have to pack a bag and leave immediately, only coming back for a civil standby with police to get the rest of his stuff. That's how it works in AZ and I'm sure its similar in VA. Without a restraining order the police won't do anything for you, the threats are too vague and open to interpretation. However, a judge might see it your way and grant you the order, might be worth a try.

Post: Newbie totally out of his depths!

Nolan M.Posted
  • Rental Property Investor
  • Mesa, AZ
  • Posts 143
  • Votes 187

Here's my advise, Listen to all the BP podcasts and spend a few hours a week reading forums and blogs on here and you should get an idea of what goals will work for you, good luck!

Post: Tenant breaking lease. Looking for advice on creating new lease

Nolan M.Posted
  • Rental Property Investor
  • Mesa, AZ
  • Posts 143
  • Votes 187

I only use M2M leases, even more so with house hacking situations. You don't want to be stuck with a weirdo for a year, if you don't like them you give them a 30 day notice and kick them out. A year long lease means you are stuck with them as long as they are paying rent. Good luck!

Post: All She Has is a PO Box and 2 Cars

Nolan M.Posted
  • Rental Property Investor
  • Mesa, AZ
  • Posts 143
  • Votes 187

Can't you just knock on the door and ask the tenants who they pay rent to? Also, Facebook is a great way to find people. 

Post: Seller Never Collected Security Deposits

Nolan M.Posted
  • Rental Property Investor
  • Mesa, AZ
  • Posts 143
  • Votes 187

Request that the sellers agent have the tenants sign an estoppel letter stating the amount of their security deposit. If they all say they didn't leave a deposit then that's that. You can then have them pay a security deposit once you close and have them sign new leases with you. Likely that they'll have to pay $50 or $100 a month extra until they've paid enough to cover the deposit. This is what I did on a triplex I recently bought.

Post: HELP!! Unwanted individuals moved into my vacant property

Nolan M.Posted
  • Rental Property Investor
  • Mesa, AZ
  • Posts 143
  • Votes 187

I'd get a second opinion from the police. Call it in again, different time of day or opposite day of the week so you don't get the same officers, but this time don't mention what the neighbor said about these dirtbags claiming to have bought it, that will be a reason to view it as a civil matter. I'd call and say that your house has been vacant for a few weeks, you went to check on it because you're ready to put a tenant in, and the locks have been changed and you suspect there are transients inside, and you want the police to be there when you go inside just in-case. Tell them that you want to press charges for trespassing if people are inside. Be prepared to break in or give the police permission to break in. If the police give you a hard time ask for a supervisor. Try to paint the situation as a crime, not a civil matter. Words matter, if the cops view it as transients trespassing rather than a civil matter they're more likely to act. Also, if the cops do go in and talk to the people you will have their names for legal action. I'm a cop and this is what I would do.

Plan B: see if you know anyone who has connections to a local motorcycle "club", ie gang. See if they want to earn some extra money gently persuading these criminals that its not worthwhile to remain in your house. I read a story a few years ago about squatters who took up residence in a disabled veterans house, and a local MC club paid them a visit and got the issue resolved very quickly!

Additionally, in the event that you get inside with or without police, be prepared to change locks, add an alarm, or have a friend stay until you can. Good luck, and sorry you're dealing with this headache.

Post: Rentals in not the best areas?

Nolan M.Posted
  • Rental Property Investor
  • Mesa, AZ
  • Posts 143
  • Votes 187

https://www.biggerpockets.com/renewsblog/2016/06/0...

Here's a great blog post regarding this topic, good luck!

Post: Do you use Ben/Serge's $250/mo Capex Estimate?

Nolan M.Posted
  • Rental Property Investor
  • Mesa, AZ
  • Posts 143
  • Votes 187

So, whats the question? Capex will be different for each property. Just because its their average doesn't mean its mine, or should be yours.