All Forum Posts by: Paul Sassin

 Thank you! I think we need to go this way, as I think we are too lenient and it comes back to bite us. 

Hey Guys!

Need your advise!!!

I have a few duplexes in detroit metro for last 6 years. Things are going well however we have been burned twice with our tenants not paying water bill. Both have left us with a $2000 plus bill at end of there lease.

What protections should I be taking so this doesn’t happen again? We tried getting them on payment plans but it didn’t work. Should we put it in our name and have tennant pay us directly for the utilities? sadly I believe similar results would come from it but i could use your advice!

Thanks! Paul

@Kevin Sobilo hey Kevin interested to know your thoughts after seeing my last reply.

@Kevin Sobilo thanks Kevin! Yes I included all the expenses in my numbers and capital ex was included in initial cash investment...I have 3 other duplex’s. They cash flow much more but are not in this good of a renters area.

Hoping to get some feedback in regards to cash on cash and cap rate for a single family investment property I'm looking to purchase. Purchase price of 215K (Currently worth about 230-235K). Total Cash investment is $63,750 (25% down and 10K costs/repairs). Annual Gross Rents is $19,200, Annual Expense is $8750 = NOI is $10,450. Annual debt service is $8689 (3.5%-30 year ($724 P&I). Cash Flow Annually=$1761 There is definitely an opportunity to increase rents by $200/month and the house is in a highly desirable area and I own the property next door as an investment. Current cash on cash is 2.76% and cap rate is 4.86%. Thoughts?

Hoping to get some feedback in regards to cash on cash and cap rate for a single family investment property I'm looking to purchase. Purchase price of 215K (Currently worth about 230-235K). Total Cash investment is $63,750 (25% down and 10K costs/repairs). Annual Gross Rents is $19,200, Annual Expense is $8750 = NOI is $10,450. Annual debt service is $8689 (3.5%-30 year ($724 P&I). Cash Flow Annually=$1761 There is definitely an opportunity to increase rents by $200/month and the house is in a highly desirable area and I own the property next door as an investment. Current cash on cash is 2.76% and cap rate is 4.86%. Thoughts?

@Wayne Brooks thanks Wayne

Need some advise, Supposedly one of my tenants dog bit a delivery driver at their front door. They are attempting to hold us as the home owner liable with a law suit.

Couple facts -

1. We inharited the tennant and dog when we purchased home

2. We are not aware dog is viscous (small dog)

3. The tenant does not have tennant insurance

4. Tennant did sign a pet disclosure. Stating landlords are not liable for pets actions.

5. The drivers lawyer wants us to call him.

Thank you for any advise!

@Basil Kostaras. Thank you! I appreciate the help and I understand the ethical issue however the tennant has been a late payer since she moved, which was much before the pandemic. It’s a tuff call, she is a “good tennant” considering her late payments. I just have lost faith that she will pay us, or she has enough money long term to live in a home that requires this amount of rent. And mind you, I charge her $200

Less per month than the other side of the duplex...