All Forum Posts by: Ryan L.

This is becoming a problem.... My wife and I self manage our 5 rentals and we have been on this journey for approx 3 years. Everything has been going great up to this point but one of our tenants has been in the house for about a year now and has a two year lease.  Over the last year we have had several issues with the tenant.  First, she consistently would pay her rent late......Not a big deal we collected $50 late fee and she would always pay about a week later.  Then she stopped paying the water bill in full. In our county the water bill has to be in our name as the owner.  Then tenant would pay but never in full and it would accumulate up to about $400-$600 then she would gradually pay it down.  Next after making some visits to the property we learned that she has been allowing her 2 adult kids stay at the house even though they were not on the lease.  Next we find out that she has 2 kittens in the house even though the lease specifies no pets.  Now tonight I get a call saying that a large window in the house has a crack in it.  This is the second window replacement I have had to do in the last year. The last window they said wouldn't close and they cracked it trying to force it closed.  I replaced this out of my pocket.  The second window to crack is a picture window.  It doesn't open or close so I know it has to be cracked because something hit it.  It seems like we are getting a lot of extra wear and tear on the house...... How do I address these issues.  Should I tell her that windows don't break unless something hits them and it is her responsibility to hire a licensed professional to fix the window?  I can do it myself but my time availability is limited right now and I prefer not to.  What are your thoughts how you would handle the overall situation?  The property cash flows really well for us but it is frustrating that our tenant is causing increased wear and tear on the property and breaking all the rules we initially set in the lease.....   

Great Idea thanks @Dave Foster!

I’m am getting ready to close on a 4 unit but also would like to present a creative solution to the seller for his primary residence. Any advice?

The seller is in his late 80’s and not in very good health. Not married, no kids, all property held is in his name solely (no pod or joint ownership) He doesn’t want to move now but he knows he doesn’t have much time on earth left. What kind of creative deal could I offer where I could purchase the house now so he would be avoiding probate but allow him to finish out his days in the house? What kind of creative deal would you structure snd how would you present it? His sister has been helping with the 4 unit transaction and she would probably welcome some solutions for his primary residence.

I bought a single family home for a rental and completed my own inspection. I noticed the plumbing had been replaced with new pex supply lines and drains. The house had a partial basement.... when I opened the access door to the crawl it was thick with spider webs like something out of the Munsters. Instead of going in I was lazy and just inspected it from the opening. After buying the house and getting the sewer line cleaned out we noticed the toilet still was not flushing properly. Long story shorter I went into the crawl to make sure it was vented and found out the laundry room drain, shower and kitchen sink were draining into the clay pipes that lead to the drainage tile. The clay pipe had broke and the water had eroded so much soil in the crawl it looked like the Grand Canyon!

Hello Bigger Pockets Community!  Just wanted to say how thankful I am for this community!  I am a mailman by day and a real estate investor at night.  Bigger Pockets has helped my wife and I grow in our knowledge and passion for investing.  As I walk my mail route I listen to the podcasts until my phone goes dead!  Started purchasing real estate for the purpose of passive income about 3 years ago and we now have 5 rentals in the Toledo, Ohio area.  We are getting ready to purchase our first foreclosure at a sheriff's sale next month.  To say we are a little bit anxious would be an understatement but we are looking forward to learning and growing as we continue to create a more secure future for ourselves and our two sons.  Thanks again to the leaders of this great community and the members that share their experiences!  

Ryan