All Forum Posts by: Tom C

All of this could have been avoided if the fool would have just moved her due date to the first of the month. It's clear to see that he didn't sit down and try to figure out why she was late all the time. It appears that suddenly something came up and now he wanted her out after accepting payments month after month late. The ruling on this case is very interesting though.

Jon,

Honestly the LL's that I have had to call and speak to, most are miserable people and wouldn't have a nice thing to say about their mothers, let alone a former tenant. I try to weed through the negativity and look at only the facts. Many times it turns into a he said, she said situation. Such as, the tenant was late on rent.. The tenant told me they moved because the LL wouldn't fix certain things around the house. So they withheld payment and didn't put it in escrow. I have one perspective tenant right now where the LL refuses to have the gas company come in and turn on the heat. After looking at the place, it's because the it would never pass and the gas company would red tag the furnace. So mean while these old people have to heat with space heaters. I place a large percentage of the LL's in my area very low on the totem pole, they are what you would call a slumlord and it's very easy to see when you drive by these homes and see the condition they are letting their tenants live in.

Coming from me I know this is going to sound strange, since many of you know I am former LE, but that also makes me a realist. Give me a break.. They are smoking a joint in the comfort of their/your own home. Its a completely different story if they are selling it or there are a bunch of kids sitting around doing it, but they are paying for a reasonable expectation of privacy.

I can't tell you how many bags of pot I have dumped along side of the road after finding them on people. I would be more concerned if you do not allow smoking in your house, then what they were smoking. You would have been much further ahead not to acknowledge the smell and to act ignorant.

JMO

And yes, the smell of pot is reasonable grounds to enter the home without a search warrant.

Since my degree is not in finance I will cite Trump here.. "If you owe the bank enough, you own the bank". Paying off your mort is a 1950's dream and has been the line of thinking for many years.

Due to the unstable job market and economic times, having that money tied up in equity in a home will not pay your hospital bills or braces for your kid when you loose your job or simply cannot get a loan due to our recent credit crunch. I am a firm believer that having those funds in an investment that can be accessed for emergencies is the best route to take. I remember getting laid off and needing to pull some of the equity out of my personal home, the banks said "No job, no loan"

After years of making an extra payment every so often, it didn't matter. They wanted their mortgage payment and since the home was worth far more then what I owed, they were all to happy to come and take the home. Luckily, I got another job and was able to fight them off and catch up with my mortgage.

Its a new world and trying to use the same financial concepts that were used in the 1950's may not work so well anymore.

The only part I do not do is the credit check. When they tell me they have been foreclosed on and filed BK and credit score is 420. I would say that the credit check is going to be a waste of money.

Hey if they were a little bigger I'd eat them myself, but from what I remember they the flying ones are about the size of a bat... But are cute little guys. :)

I agree Mike I am just running short of time and pulling 220 to the stove area and dryer hook is just going to tack on a couple of days that I don't have. So I figured I would throw the question out there.

That brings up another question. Are most stove and dryers 220v still or all they now 110v?

When renting out a property that has gas lines for the stove and dryer, do you allow the new tentant to hook those up when they move in? I don't feel comfortable allowing the tenant to do this, so I figured I would ask what the standard pratice is. Or do most people scrap the gas lines and convert it to electric?

BTW: Before you ask, no most landlords do not supply these items in my area.

Thanks

Iv'e only seen them at night while coon hunting, so I am assuming thats when they come out. Throw a cat up in the attic during the day. Come back and get it later that night. It will take care of them.

There seems to always be the potential of any place turning into a war zone for those brief 30 seconds. What city isn't like that? I have been into many bad area's as a cop and I can tell you that within bad area's there are good people. My current rehab, if you go down the street 500 hundred yard and cross the main street and stay on the same road, it just turned into an area that I wouldn't buy in, but at anytime that element can and has come up the road and across the street and shook my investment area up. Think of it as being in the jungle and your investment area is your village. At any point a lion can and will come out of the jungle and attack your village. You just have to be prepared for it and take precautions.