All Forum Posts by: Seth Macomber

@Account Closed I appreciate your comment, and I will not try to defend myself. I feel if I were to defend myself, I would just be damaging my parent (1 parent,  the other parent is not part of this) reputation even more, which is absolutely not my intent. I initially was just looking for a place to vent, because this burden was very hard for me to bear, and I felt comfortable venting to this community. 

I will say this though. I did not have the perfect upbringing, or even close, for that matter. But again, I appreciate you standing up for them. 

@Thomas S. I am weighing my options. I am considering selling my debt to a collection agency. I have considered creating a collection agency of my own and petitioning for wage garnishes, but, I am unsure.

@Chris Medeiros Thank you. It was the absolute last resort. I practically begged my parent to not let it get to this point -- for 2 years. But I have a family of my own, and I needed to make this decision for my family.

@Abraham Sosa Thank you. 

@David Gold I do have children. My wife and child are the reason I made this decision. I have lost sleep every night for the last 2 years because of this. My heart isn't broken, it's shattered. But, thank you for your opinion.

@Rhondalette W. Thank you. I gave them lots of time, lots of notices, I begged and begged and begged. There was no other option unfortunately.

@Dan White Absolutely fabulous regarding your step daughter. Please do me a favor and clone her, then send her clone my way. Thanks in advance.

@Jay Grabbe Most definitely. 

@Jim Shepard Thank you!

@Rich N. Thanks. Yeah, I was more than gracious with them.

@Jade S. Thanks man.

@John Casmon Great question. I would say I am always still learning. Will I ever make this mistake again? Nope. 

To comment on your other question:

"Why did it take so long to evict where someone (family or not) could rack up $15k in unpaid rent? "

I don't have an answer. I believe that it falls under one of the infinite reasons of why someone should "never rent to family."

And I don't see it as piling it on. I appreciate the boldness of confrontation in constructive mannerism.

If I am not disowned, I would have been the son. 

I've heard it a million times, "never rent to family." Being the naive person that I was -- possibly still is -- I didn't listen. 

I rented my condo out to a family member in 2013. By early 2014, I noticed their rent payments were becoming more and more sporadic. This concerned me. By August 2014, I told them it was time they find else where to live. After a heated reaction, they agreed. Fast forward to January 2016, they were still there and somehow amassed an incredible $15,800 of back rent. The only course of action I saw by that point, was to evict. It was the hardest decision that I made that day -- it was probably a Sunday, Sundays are slow days for decision making needs. 

I called my realtor friend to get his thoughts, and I'm not sure if he was trying to be funny or not but he said, "that's why I always tell people never rent to family" -- part of me thinks he wanted to rub a little salt on the wound. 

After months of going back between the lawyer and the courts, I received a Summary of Judgement today, and the tenants in my rental will be removed by law enforcement if they do not voluntarily vacate in 2 weeks.

I'm pretty bummed that it came this far. I am not sure if I have questions for anyone or if I am subconsciously searching for some comfort. 

In any case, I had to let it out.

Handyman + Real Estate Investor = Deadly Combo! Great work man.

I would love to follow your progress. I am not an experienced investor in the area of short-term rentals, but I am a very experienced accountant in that area. However, my work is done in Hawaii, very different state taxation and zoning laws here. 

Hey Garrett, 

My favorite has been Bank of Hawaii. 

Aloha Greg,

Aloha nou from Lihue! 

Only downside I see is that you would effectively be a Property Manager. I would imagine to generate income as a Property Manager, you would need multiple properties. If you're limited to 1 owner, it also limits your market share.

Warmest Aloha!

Hi Marcus, 

Without knowing any information besides what you posted, I would say an LLC , LLP, or S-Corp. However, do not take any of our advice until you consult with a CPA.

Best wishes.