All Forum Posts by: Susan H.

@Michael Raja, you and/or your wife could use the voice memo on your smart phone to record the screaming rants/noise. Add that to your documentation.

If illegal drugs are involved, it might be worth your time to contact your local law enforcement. Some years ago, we suspected tenants in a rental next door were selling drugs. I contacted a police officer I happened to know, and he came to a meeting of our Neighborhood Watch group held at my house, and consequently saw the activity for himself. Short version of long story: multiple arrests quickly followed.

The process likely varies by jurisdiction, so learn what options are open to you where you live. And good luck!

@Sam Rogers, several people have asked: what are the terms of their existing lease? If we knew that we could better respond. 

Are you by any chance living in one of the units? 

@Hadar Orkibi, I live in Fayetteville and have single-family rentals in town, too. 

There's rapid development west of I-49 and also east of Hwy 264/Crossover Blvd that you might want to consider. Zillow provides a good overview of the area. 

Do you have someone local helping you? I worked with a local investor-friendly Realtor for my purchases, and would be happy to share his contact info with you. 

@Dominic Scatto when does their year-long lease expire? Does your state allow you to raise the rent mid-lease? I don't know the laws in your state, so do check carefully.

If they are consistently late with rent, why would you consider renewing the lease? 

 Hi Taylor,

I have SFRs in Fayetteville. One is within walking distance of the university and two others are west of I-49. The west side of town is a fast-growing community and there's a nice range of housing types and prices there. 

If you check Zillow, you'll see quite a range in rental rates across town. Pet-friendly rentals command a higher rate, btw.The closer you are to the university, the higher the rents seem to be. Older homes are being torn down with high-end units being built in their place. Neighborhoods east and north of the university are becoming a mix of new MFH and homes that were built in the 1940-1970 time period. Too many of the older places show little (if any) evidence of maintenance but are still commanding high prices, just by virtue of being close to campus and near the bus line and Razorback Greenway. Bidding wars tend to erupt when properties around campus come on the market. I found an older 3/2/0 in one of those neighborhoods for $150K that needed a lot of work (problems with roof, plumbing, electrical, etc.); it sold for $350K in "as is" condition. 

Every town in NWA has its own vibe. I'd say Fayetteville and Bentonville currently have the highest market rates but it really does vary. 

 PM if you want a local Realtor contact; I work with an investor-friendly agent who's helped me find/close two houses in the past 18 months. 

~Susan

If I understood your posts, they did not pay first,last, or security deposit. When you say they "took their possession" by breaking in, were you saying you had approved them as tenants and they signed a lease but not yet handed over keys? Or did you mean to say they broke in to retrieve their possessions in the house?

Apologies if I overlooked details. 

@Erik Mogan some great advice here!

I grew up poor and I've lived that paycheck-to-paycheck life, so I can truly empathize with much in your story. Increasing the household income will definitely help, so keep working toward that goal. You can do this!

I can personally testify that The Penny Hoarder and similar sites (and of course BP!) can be very helpful in pointing out what will later seem like obvious strategies. Some have already been mentioned, but I'd suggest you need to have your wife on board and make a written commitment to three things: income, expenses, and what I'll call your Family Plan. 

Get your options and opportunities about increasing the income BOTH of you generate into writing. Back in my high school days I helped my mother pay the bills by cleaning rental units between tenants and commercial businesses after hours for a local Realtor. Now, I clean my own rentals! <grin>

Ditto the written commitment to spending; document every penny spent. Set a limit for groceries (you'd be surprised how much you can save over time) and don't include "extras" like soda, snacks, packaged meals, etc. Every purchase must meet your criteria for "Need" and not be a "Want."  Eliminate ANY fast food or dining-out and cable/internet. (Lexington has a great library with branch locations, and I'd bet all the books and videos mentioned in this thread will be available through the library.)

And don't forget your Family Plan. You and your wife need to reach agreement: where do you physically and financially want to be in 1 year? 5 years? 10? Write it down. Review and adjust as you go.  

You CAN achieve your goals!

 Jerry, the answer might well depend on which town you're talking about, and how that town defines 'low density housing.'  If you're referring to property in Fayetteville, I suggest starting with  Chapter 161 of the Fayetteville Code of Ordinances which describes the zoning classifications, many of which have been recently modified. 

Sorry, cannot help with zoning in other venues. If the land is out in the county, start with the courthouse and go from there. Otherwise, check the appropriate city council/planning commission department.

ETA: you might also find it helpful to check the town/community's master street plan or city plan.  That can be useful in showing planned growth areas, anticipated parks, bike trails, etc.--all of which might affect your plans. Good luck!

 Welcome to BP, Jerry! I sent you a PM with connection invite.

BTW, Bill Speer is now with Smith & Associates. PM me for contact info. Can also highly recommend a local mortgage broker, well versed in investor purchases.

If the person who complained to you is moving out at end of month, can you go over to be the in person while she's moving out?

And if your current leasing situation is violating the occupancy law (we have the same limitation here), can you turn this into a win/win with a variation of cash for keys if she vacates mid-month, with you there while she's clearing out?