All Forum Posts by: Robert Flowers

Ok... This is a 4 bed 3 bath at 3200 sqft. Think about this for a moment, anyone can pay $3000 in rent could easily buy a house at some point. Try using a Non-Profit organization for example:

Rent by the Room to Special Needs through Non-profit organizations and increase your rental income paid by Non-Profits. It solves 2 issues... Cash flow disruption and Problem tenants... Also, you don't need to make any structural changes to the property.. 

Remember the Golden Girls Tv Sitcom? Four females living in the same property paying rent individually. Example: $800 rent x 4 bedrooms = 3200 in rents per month. The best part is the deposits. Up to twice the rent for deposit! 1600 deposit x 4 = 6400. 6400 deposits + 3200 rents = 9600 upon move-in.

I hope this helps

I agree with Nathan G., you don't reward bad behavior. However, If and only if you want to get them out in a hurry without going through the eviction process, court dates, pandemics, etc.  then move forward with cash for keys but make them clean up the property before you do cash along with the agreement or signoff. Do your inspection as well. Also, still change the locks if any copies were made by the tenant that you are unaware of. Side Note: You can start eliminating late rents in the future by obtaining your tenants through Non-Profit Organizations and let the Non-Profit pay the rent for the tenant, this will assure on time rent payments. 

Hope this helps.. 

First, if you have placed poison for the mice, the problem is resolved, you are just un-aware of it because she is lying. It is a manipulative move on her part to make you think the problem still exist to not pay her part of the rent. (The solution) Take pictures of what you have done to correct the problem, (video is better) for evidence in the event you're contacted by HUD. In the meantime, start the eviction process with a Past Due notice, escalating to eviction if necessary. Get rid of the headache and move toward a simpler strategy that will eliminate your frustration. Rent by the Room to Special Needs through Non-profit organizations and increase your rental income paid by Non-Profits. It solves 2 issues... Cash flow disruption and Problem tenants...

Remember the Golden Girls Sitcom...  Four females living in the same property paying rent individually. Example: $800 x 4 bedrooms = 3200 in rents per month. The best part is the deposits. Up to twice the rent for deposit! 1600 deposit x 4 = 6400.  6400 deposits + 3200 rents = 9600 upon move-in.

I hope this helps

When renting by the room, you are going to have some personality conflicts. However, What do you feel about that tenant? Do you get a creepy feeling about him/her?  If not, continue to move forward with the move in.  I also rent by the room, but through Non-Profits where the Organization pay's the rents for the tenants. Tenants are selected by me that have come from those non-profits. Once tenant selection is complete then I try to match the tenants personalities as much as possible.   

Hope this helps

Yes... I have 30 plus years in Real Estate and 10 years experience housing Special Needs.  You can message me Justin so that we can talk...

There are a couple of opportunities here...  Yes it is a bad area, however this can be addressed with 1st level security such as dummy cameras around the property or real ones..(your choice) Motion lights when property is approached. And signs that are placed on property stating PRIVATE PROPERTY ACTIVITIES ARE MONITORED.  Also, a little secret when installing internet wifi, Name it (Federal Narcotic) 

Anyone who lives in the neighborhood or moving in the neighborhood and trying to get wifi that name will pop up along with other wifi names. Be a good landlord and let her go if she wants to, under the guidelines of your lease agreement and according to section 8.  Secondly, if you have 3 or more bedrooms, go through a non-profit organization to get your tenants and let the non-profit pay the rents. (Special Needs with mild disabilities)

 Rent by the room at 550-800 per room. 800 rent x 3 bedrooms = 2400  and get  up to 1600 deposit per person x 3 = 4800.  Your totals 2400 in rents + 4800 in deposits = 7200.  You shouldn't have any problems getting approved because of your property is up to standards according to Section 8

Looks like you had a lot of repairs done from unknown damages caused by tenants that you may have been un-aware of, However, You are in the recoup phase now. I would immediately do a room count of each unit, get rid of current problem tenants, make the necessary repairs, and Go through Non-profits. 

Carefully look at your property and if you have more than 2 bedrooms. At least 3 beds would do. Try renting by the rooms through Non-Profit Organizations to Special Needs with mild disabilities. The Non-profit will pay for the rents. If the market rent in your area is 800. I would  rent each room at 800, but rent by the room 800 x3 bedrooms = 2400 All paid by the non-profit org. This will not only put you in the positive but your rents are paid on time every time... In addition you would receive deposits up to twice the rent per person. Example 1 person 1600 in deposit max + 800 rent = 2400 up front for that 1 tenant.. (Remember... you got  more rooms to go)... This solves 2 problems, (Cash Flow and Problem tenants)..

Hi there!  I have been dealing with Special Needs for the last 10 years working with non-profit organizations and Special Needs.  Group homes are a good however, inspection can be intensive more so than Special Needs with mild disabilities. Mild disabilities, meaning. tenants are independent and can live productive lives. This can be considered as (battered females, Veterans, Homelessness etc.) No structural changes need to be made to your property for these individuals such as (wheel chair accessibility, ramps, sprinkling systems etc. Let's look at the benefits of using your property as is... For example: You have a 3 bedroom property and the market rent is 800 for your property. Your property have 3 beds that can be rented for the same 800 per bed from a Non-profit organization.. Let's do the math.. 800 rent x 3 beds = 2400 gross rental income that the property can produce monthly. In addition to that the Non-profit will pay you a deposit up to 2x the rent per person, 1600 deposit + 800 rent =2400 for that 1 person to move in..... This can be done for each room. With this type of setup, you would need the utilities in your name, and furnish the property.  It is well worth it. Setup can include bed, night stand, dresser and a tv in each room. Yes... a TV, the tv helps the tenant from getting bored and becoming psychosomatic that could lead to institutional living. Common areas would include stove, Refrigerator.  I hope this helps...

That's a tough one.... However, Carefully look at your property and if you have more than 2 bedrooms. At least 3 beds would do. Try renting by the rooms through Non-Profit Organizations to Special Needs with mild disabilities. The Non-profit will pay for the rents. If the market rent in your area is 2900.  I would reduce the rent to 1500, but rent by the room 1500 x3 bedrooms = 4500 - 2900 market rent = 1600.  All paid by the non-profit org. This will not only put you in the positive but your rents are paid on time every time... In addition you would receive deposits up to twice the rent per person. Example 1 person 3000 in deposit  max + 1500 rent = 4500 up front for that 1 tenant.. (Remember... you got 2 more rooms to go)...   

I think the Section 8 program is good as for as safety net, however I would focus on same strategy  different program on other investment properties moving forward. For example, A combination of utilizing different programs in addition to Section 8 that offer rent payments for tenants such as Non-profit organizations. Also, I would get more from my next property renting by the room at the same market rent rate per room. This will triple your rents and they are paid by non-profits. 

I hope this helps...