All Forum Posts by: Payman A.

Hi everyone, so selling a quad in Louisiana and set to close on Jan 4th, however, I have 3 tenants that have been behind and despite months of asking my manager to process evictions if they did not catch up, I now have over $2K in tenant balances (with $595 & $575 rents by the way), which will likely be around $3K with Dec rents and by the time I sell.  1 of the tenants has a lease with current manager that started around Aug...other 2 had leases with previous managers and are now effectively on month-to-month and being managed by current manager who "will not file eviction in order to avoid losing sale".  Any ideas on possible/feasible recourse against tenants either before or after the sale?  Thank you, Payman

 Thanks Travis and agreed.  I need to prepare myself to treat the vacation rental approach with a slightly different set of criteria.  

 I appreciate the response Levi and once we wrap up the current flip project, I'll get behind the vacation rental effort and touch base.  I'd be interested to learn about your management model and to get ideas with regards to location.

 Thanks Harry and see, I'm already working towards the goal :)   I'll make contact this week.

Good afternoon BP and I appreciate everyone's time looking at this.  So after a few discussions and also having gained about a year's worth of experience in a CA management firm, I'm considering vacation rentals in/around Belmont (just so I can consider lakefront properties that are close enough to Charlotte).  Anyone have any suggestions for management of vacation rentals as I'm still in CA and my existing management does not handle short term rentals.  Thanks!

Hi Nathan, I know I'm a bit late to respond but just saw your post.  I've been using All County Piedmont since I had to run away from another firm who wasted 6 months of my time in 2013.  Have been satisfied since and hope not to have a reason to rock the boat.  G/L

Hi Abigail, I started investing in NC about 13 years ago (originally in Raleigh and soon after in/around Charlotte).  The local CLT market has definitely been aggressive to the point that I was not able to come close to duplicating deals from 1-2 years ago.  Even though indicators continue to signal strong, I've decided to back off (at least with market deals) and see what happens.  Here in CA, there is more and more of a buzz regarding a correction so we'll see if that happens and then sweeps east.  Good luck with your efforts and I'm sure you will enjoy Charlotte (wife and I are still waiting for the right opportunity to make our move)

Glad to hear a nice comment about SF and sounds like you might have dealt with claims and hopefully nothing drastic resulted from any one of them (I mainly regret placing one for a small loss but live and learn).  I already started shopping in case a change became necessary and also noticed that Allstate was higher (though it included the smaller claim on the house currently with SF).

 Thanks for the post John and really appreciate the suggestion to document corrective actions.  Since I've always thought of underwriters as illusive/mythical creatures, however, it's also nice to know that the right agent can deliver relevant details.  With regards to the vandalism, I've already thought of using temporary security systems when a unit is vacant in the future (hopefully that puts me on the right track if I'm asked for an explanation).  Thanks again and I'm glad that the online horror stories seem a bit more irrelevant than they did when I was first reading them.

Thank you Jason.  Actually started that process last year only to be able to up liability without an umbrella but sounds like the thing to do for all.  We're only in 2 states, soon to be one.