All Forum Posts by: Scott J.

Phew. The tenant just paid.

Thanks for all the great responses everyone. I'm going to bookmark this thread for when this inevitably happens again.

Hi Joel. Thanks for the excellent response.

The tenants keep the place in immaculate condition. When we were there to pick up the late fee in cash the place looked superb.

When I called the attorney they quickly suggested I pay them $125 for them to deliver the 3 day notice to pay or quit. Can't I just do this on my own and then just use them if the issue requires an eviction? I'll look around online for a CA sample of a 3-day notice.

My guess is that if I talk to the tenants in person and learn they can't afford the place, we can mutually agree to let them break the lease and move on. This would save us both a headache.

I'll be sending my first three day notice to a tenant and would greatly appreciate any advice you folks can offer.

I've spent a couple hours reading through the various eviction threads and have learned a ton. First off, I've decided to hire a lawyer since I'm in CA and these things can drag out. Mitch made a referral which someone else confirmed, so I'm very happy about that.

Background: There are four people in the house, two of which have horrible credit due to a foreclosure. None of any criminal background and they rented their previous place for three years.

The tenants have only been there for three months. Last month their rent check bounced. Two days later they paid a check that cashed along with a separate check for the $60 fee. The fee check bounced. I called her and she immediately said sorry and she'll pay me cash instead. Which she did.

March's rent was due yesterday. Getting nervous halfway through the day I left her a message, which she did not return (as she usually does). Today I plan on sending her a 3-notice to pay or quit and to contact an eviction attorney just in case.

She may just pay rent late like she did last month, although this is becoming an ugly trend. On the flip side, properties that rent for $1,850 take more time to rent so I don't want to make an enemy of her prematurely. Here are my questions:

1. In serving a three day notice. Should I do it in person or send a certified letter? People tend to own their responsibilities more when you are standing right there, but if anything goes to court it's just my word against hers. With a certified letter I have proof of receipt.

2. Are there any samples of a 3-day notice for CA anywhere? I haven't had any luck finding one in the threads.

3. What's your take on the situation?

Thank you!

I own two houses on one lot in the largest historic district in CA (Old Towne Orange). You won't get NEAR the 2% rule--heck, even the 1% rule--in this area. For example, my property is $520k and the two houses would rent for a combined $3,700. Although there is high appreciation.

I probably would not invest here were I not to living in the house. (I highly value quality of life based on my personal residence.) I invest inland where properties are much cheaper and rents are still high.

Hi everyone. Thanks in advance for all the great advice you always offer.

I'm in the market to lease a very small office (300-500sq.ft.). Based on a previous post, I've learned that I don't need an agent. My question is: since I'm in charge of locating the property, what websites do you recommend for finding available offices for lease?

I've tried Google but keep ending up on junky sites that aren't helpful.

Very helpful. Thank you gentlemen.

On a side note, are there any clauses or terms I should watch out for in a small office lease such as this?

Good morning BPers. I'm interested in leasing a 300 - 500 sq.ft. office space in Southern CA for about $500-800/mo. Do you recommend I get a RE agent for this transaction?

All of the building owners I talk to say no. In fact, one refused to deal with a RE agent at all. However, I want to make sure I get the best deal possible and the building owner doesn't sneak in any clauses that could hurt me. Also, I would feel comfortable having a pro negotiate on my behalf.

Should I get an RE agent for this small transaction or is it unnecessary? If I DO get one, how does their fee work?

Thanks.

Great replies everyone. Sounds like paying down the big loan with the PMI is the way to go. Thanks for the reminder about getting it appraised again too.

Josh Rogan - I have the cash to pay the car in full. But at 0.9% it makes more financial sense to get the loan and put the money towards something with higher ROI, rather than pay cash for the car to "save" the 0.9% financing.

There are a lot of brilliant minds on here and I'd love your advice.

My wife and I have been debating which debts to pay extra money towards. Pay the highest interest first? Pay the lowest balance first to free up that payment? Don't pay extra to anything and save for another property?

Here are the debts:

$470k @ 4.75% -- two houses on one lot, live in one and rent the other. Pay a PMI of $200/mo until debt is down to $416k. I HATE paying PMI as it's just money down the toilet. But there's a long way to go until it's gone.

$257k @ 4% -- rental SFR

$27k @ 0.9% -- car loan

Knock out the car loan to free up the payments? Pay the $470k loan to get rid of the stupid PMI? Not pay anything and just save for another RE deal?

Thanks for your advice.

Thanks for the replies fellas.

Altin, I meant to give them $100 off just one month's rent.