All Forum Posts by: Ralph Miller

Hello BP!  I have three college guys living in one of my 3-bedroom condos.  Their lease ends May 31, 2018.

Two of the three tenants paid their rent in April, but one tenant has not (that's $285 worth or rent).  Long story short, the third guy apparently lost his job and he's isolating himself from his two house-mates.  I'm assuming if he didn't pay April, then he probably won't pay May either.  I called him with no avail, and I emailed him with no response.  His roommates have tried to speak to him but also to no avail.

My overarching question is:  Is it worth serving them an Eviction Notice?  Their security deposit is enough for me to claim unpaid rent once they leave next month.  

Any input is greatly appreciated!  

So the top of my tenant's stove cracked.  On the stone range, it seems a pot was dropped on the surface and a crack has spread to all four corners of the stove.  Who is at fault is still under review....

I'm calling appliance repair shops to get their opinions but I also wanted to ask BP.  Has anyone dealt with this before?  Did you just buy a whole new stove or try to repair the stove range?  How likely is it that the crack "just formed" or did someone have to drop a pot on top of the glass to shatter the stove range?

Any advice would be awesome!

@David Dachtera I don't have one...I only have 3 properties and very easy to manage the numbers on my own so I never thought of getting an accountant.  But for this that's probably a good idea to ask an accountant. 

Hello BP World!

So I am in the process of refinancing my primary home mortgage because it is currently under my personal name and I want to put it under my business name and make the monthly payments significantly less.  To do this, the bank is asking me if I want to show this as a refinance or as a sale?  I have no idea what they mean by this or what would be the benefit of either.  I've googled this topic to the wits end and still no clue.  I am this sole owner of this place and have lived at this place for 2 years and paid down 30% of the current mortgage.  Is there some sort of tax benefit to doing it either way?

Any advice??  Thanks a million!

Nick,

Are you a turnkey company that also place tenants and manage the property?  Or do you just sell the property?  I'm looking to buy in the KC area.  So far I have 3 properties in Columbia but I want to expand.

Thanks everyone!  I turned them down and this week already inquiries have started to pick up!  I'm very confident my place will have new tenants moved in by the end of May!

Hi Kevin,

Is this property still available?

Please PM me or shoot me an email at [email protected]

Thanks for the input. Just so I am clear on what you guys are saying, don't allow them to start renting it in July? Just Find someone who is willing to start in June?

So I have a place becoming available June 1. I have a potential tenant asking to start renting in July 1... There's a good amount of demand for this place but like they say, "bird in the hand is worth two in the bush." Should I let them move in on July 1st and miss out on the whole month of June for rent?!? I own three properties for only a year so I'm a relatively new at landlording. Advice?!?!

I leave a bottle of wine.  It's like $10 and a great gesture.  Makes your tenants respect you a lot.  It's worked out well for me.