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All Forum Posts by: Ryan Cleary

Ryan Cleary has started 113 posts and replied 352 times.

Post: Have a tenant that is $150 short (Florida)

Ryan Cleary
Posted
  • Real Estate Agent
  • Saint Lucie, FL
  • Posts 360
  • Votes 323
Quote from @Nathan Gesner:

1. Run it like a business. When the bill is not paid in full, you follow your process. There's no panic, no animosity towards the tenant, no sleepless nights or hard liquor. Just follow your process.

2. "I'm nervous this will put us in a bad position for March." It makes me nervous that one payment missing $150 is so impactful on your business model. I hope you have a reserve and can handle non-paying tenants for a few months.

I would let her know you are being gracious this one time. She pays everything in full today, March 1st, or you start the eviction process.


 Thanks Nathan!

By no means will $150 affect us, I was referencing her situation in keeping up with rent. 

Post: Have a tenant that is $150 short (Florida)

Ryan Cleary
Posted
  • Real Estate Agent
  • Saint Lucie, FL
  • Posts 360
  • Votes 323

I have been in constant communication with the tenant.  She explained her situation.  Since we have a good relationship, I told her the owed money was added to her March payment, and I switched her profile to only accepting full payments. I will be strict in enforcing March's payment.

Post: Have a tenant that is $150 short (Florida)

Ryan Cleary
Posted
  • Real Estate Agent
  • Saint Lucie, FL
  • Posts 360
  • Votes 323
Quote from @Glen Wiley:

Speaking from experience. Do NOT let this continue. She will probably gradually get further and further behind.

I hate to be this way, but if the rent is not paid in full each month then I evict them. I wish I could be gentler, but I have been taken advantage of this often enough that I have learned it is not a good idea.

Thanks for the input Glen! I have tacked on the difference to her March rent with no other option besides paying in full.  A three-day notice will be promptly issued next month if there is any issue.

Post: Have a tenant that is $150 short (Florida)

Ryan Cleary
Posted
  • Real Estate Agent
  • Saint Lucie, FL
  • Posts 360
  • Votes 323

I have a tenant that I am self-managing.  Her rent is $1,350, she has been there for 1.5 years, always on time. We have a good relationship. She was 2 weeks late this month, she was transparent as to what was going on so I gave her the benefit of the doubt. When she finally paid, it was $150 short. I reached back out asking for the remainder to be paid yesterday.  She agreed but no money was paid.  

I am nervous this will put us in a bad position for March.  Not sure how I should proceed.

Post: BRRRRSTR in Eugene, OR with actual numbers

Ryan Cleary
Posted
  • Real Estate Agent
  • Saint Lucie, FL
  • Posts 360
  • Votes 323

This is very impressive Chris!

Post: Coffee & Real Estate

Ryan Cleary
Posted
  • Real Estate Agent
  • Saint Lucie, FL
  • Posts 360
  • Votes 323

Hey @Shane McCain,

Curious if 3/12 is planned as well.

Thanks!

Ryan

Post: Is it worth chasing a bad tenant?

Ryan Cleary
Posted
  • Real Estate Agent
  • Saint Lucie, FL
  • Posts 360
  • Votes 323
Quote from @Jeremy Brown:

Depends on how much time you have and how determined you are to collect.  When we've had tenants who's damage exceeded their deposits or left owing money, we've sued them in Small Claims Court.  We've always won.  We've never collected a dime.  Collecting on a judgement ends up being more time and hassle than it's worth, as you are usually trying to get blood from a stone, so to speak.  If you have the time and motivation, do it.  But don't let that stop you from repairing your property and getting it back on the market.  To sue, you need receipts of what it cost to repair, not quotes.  So, you have to do the repairs anyway.  Don't let the situation stop or delay income from coming in.


 Jeremy perfectly summed this up.

Post: Can I offer seller financing on my home if its on FHA loan?

Ryan Cleary
Posted
  • Real Estate Agent
  • Saint Lucie, FL
  • Posts 360
  • Votes 323

Hey Sethu,

If you are looking to do a subject-to deal, I know of an agent who is familiar with them in Palm beach county.  Having the right agent/ title company will make or break sub-to deals. 
Good luck!

Ryan

Post: how do you know if a neighborhood has potential of going up in price?

Ryan Cleary
Posted
  • Real Estate Agent
  • Saint Lucie, FL
  • Posts 360
  • Votes 323

Hi Claudia,

@Abel Curiel said it perfectly. I would also suggest forcing appreciation to reduce market speculation (property improvements, adding bedrooms, finding ways to increase rent, buying at a discount, etc).

Good luck!

Ryan

Post: Very new to this but learning a lot

Ryan Cleary
Posted
  • Real Estate Agent
  • Saint Lucie, FL
  • Posts 360
  • Votes 323

Hi Maria!

Seem's like you are on a great track.  Don't listen to anyone else, you know better than anyone what you are capable of.  I came from a similar situation where I had no support and many critics.  3 years and 6 houses later, it was the best decision I ever made. 

I would try and reduce your living expenses before leaving the comfort of a regular paycheck. Your got this!