All Forum Posts by: Rob Chiang

 serve a 3 day PCQ notice.  A pet can't be ESA without the current, not-expired paperwork to prove it. 

 Get with a mentor/coach/mastermind ASAP so you can go further, faster.  Time or money my friend, you choose!  This is not new tech, success in real estate leaves clues, podcast, books, courses, etc.

 Action man!!!! YES you will go far in this industry.  How did you convince your loving spouse?  

 online gambling, crypto currency and NFT's are not your forte?  Great you came to the right place.  Slow and steady wins the race, brother.  How much equity can you comfortably pull out and what is the biggest apartment building you can buy in your local area?  Start there.  Plenty of help in this forum will come pouring in soon.

I remember being 16 and a convicted bank robber (1 month after this encounter) tried to fool me by pushing a stack of money orders into my chest and saying "take it it's all there" get outta here.  I stood there outside, counted the MO's and it was $500 short.  I gave it back to him and we proceeded forward with the eviction a couple of weeks later.  I definitely like an arms length transaction with all parties nowadays.   

Stay safe everyone. 

 Time to pop a bottle!!! yippee change the locks and forward the mail.  

Update on this post, FYI every move was done by the book and with full legal advice.  No cutting utilities or any shenanigans like that.  I run a professional fee-management company but this was on one of my own properties.

The remaining tenant (casually revealed that they thought it was OK to steal from a "rich corporation") even though it was just my family they were stealing rent (occupying space) from.  As time went on, our desire to vacate the remaining tenant in order to rent as a LTR became a pipe dream.  After 3 months of fruitless negotiations with this person, buyout offers, debt forgiveness, appealing to ethics, etc. we had two moves on the chessboard left.

Meanwhile in the bat cave....the string tenant had decided to move their belongings into each of the 5 bedrooms, install their own interior security cameras, fill up the garage and office with their cars and mechanics equipment.  

Move #1 - We were then urged to go for eviction based on the grounds of lease violation of the house rules (the corporate airbnb style lease which actually extended several months BEYOND my master lease without my knowledge!)   Well that approach for Perform Covenants or Quit didn't work because the tenant, unfortunately, complied with the violation notices within a few weeks.  The garage was emptied and all belongings migrated back to the original room rented.  Well, shoot! back to the drawing board.   

Move #2- (hail mary from my attorney) to just put on my STR landlord hat and go ahead and fill the rest of the rooms up to the max and start collecting some rent. We filled up the rooms in one swift move with very nice people and their pets. They paid their rent and really wondered why that person didn't. The squatter was complaining to me that the "new" tenants should always wear masks inside their own residence, etc. Fast forward, 2 months later of patiently waiting, with zero notice, that tenant did a midnight dash and taped the key on the door.

Since they did not willfully damage the property, we decided to give mercy and decline getting a monetary judgment against them.  Just let them go peacefully.  That person never lost their job or anything like that (discussed directly with me about this).  They claimed they had a mental health issue so they deserved the free rent.  The end.  

California dreams baby...  

Would you have used another approach?   Would love to know your thoughts

 If life was only that simple as the gladiator times... 

Fee-Management companies- How to you prospect Owners?

What are you having the most success with?

cold call/ mail/ print/ online ads, etc.

Full disclosure: this long drawn out situation is over, but it is still worth sharing so other members can learn from my blunders. I rented out an SFR to a corporate leasing service (they rented out the rooms on their own terms, like airbnb). I had great success with this type of tenant for years. However, there was a new copycat startup in california. When my SFR came up for rent, I sent it to my familiar corporate rental tenant and the new one, for competing offers to rent.

The new one bid $500 higher in monthly rent.  Naturally, we went with the higher offer to rent.  Even though I didn't have firsthand experience with the new company, I was comfortable with the business model.  We signed a 1 year lease with them. Everything was great the first 6 months.  

Then...covid happened and travel shut down.  They claimed that their business was hit hard.

The company then said they were going to have trouble paying the rent, please waive the rent or reduce it for a couple of months.

Then they stopped paying.  2 months later we got instructions on their chapter 11 filing and we were to immediately assume the role of corporate airbnb style landlord.  Total rent accrued to be $20K due.

Out of 5 bedrooms in the house, 3 tenants were remaining.  2 agreed to leave peacefully.  This is where the story gets interesting.

One refused to leave and also refused to pay.  Can you guess what happened next?....