All Forum Posts by: Jeremy Hua

At closing, you should have received pro-rated rents for July based on your closing date. The agreed sale price, would actually be discounted based on rent you're owed, and property taxes due, as the new landlord. 

I'll rescind my assumption that the place is a dump, as I know nothing about it. You do have a crackhead living there, and no tenant is scared of a landlord. The laws are on their side. My comment about smelling your weakness is based on your statement of waiving July rent. Once they know you'll bend because you're new, they'll roll right over you. 

I do wish you the best of luck in getting the crackhead out, and make some cash along the way. 

I'm just telling you how it'll be in the end. The seller doesn't care, they got their money, same with the broker/realtor. It gets even more fun when the tenant starts contacting code enforcement on fixing anything that affects living conditions. 

What things are broken? And how did you just sign away without at least knowing what was broken? You rushed into the deal, because you too, were excited about "passive income", you'll quickly learn that it isn't, at this level. 

Sorry if I come off as a jerk; I just don't sugar coat and add fluff like most posters. 

Too late now, it's your property, and you'll be paying to fix everything. I've learned that you shouldn't believe everything, such as the Residential Property Disclosure form, rent rolls, etc. 

For some reason, it's ok to destroy, and steal housing in America. 

Without reading the rest of the replies, congratulations on buying your first dump. We've all done it, and unfortunately, you'll be dealing with crap tenants most of the time. 

It sounds like you have compassion, and they smell your weakness. Start the eviction process now, get a clean slate, and stick the right tenant in there. 

You'll need to post a notice to vacate, not an eviction. You have no obligation to continue a month to month lease. Just let them know you're no longer renewing the month to month lease. 

Best way to learn, is to get burned on a deal.

Heard that furnace filter needs changed out.

How do you file an eviction with the county, get rent payment, and keep repeating it over and over? I used to never read the forums, but it seems to inundated with stories like yours. Properties within reach for the normal income folks appear to be C neighborhoods, and attract nothing but crap tenants. I want to say, "sold a lie" about the Dream of passive investing, but it's our own fault for not doing due diligence. Of course, bad luck is a factor, also. From the outside, I'm sure you and your spouse hate the idea of being landlords, and wish you could rewind the entire decision. I have a hunch that she's going to move in next door, should you successfully evict her. And then, they're going to cause hell for you for another year. Sorry to hear that you're bleeding out money. Someone is making money in this game, but it's the flippers, and those selling the dream. All that being said, I do believe there's passive income available in real estate, but it requires A and B properties, and multi-family, such as whole complexes.

If the history shows that they've always paid on time, and rarely gave the previous landlord any hassle, I wouldn't even press for the extra $25. It's going to cost you more than that to turn the place.