All Forum Posts by: Terre B.

Could an ADU being built be part of an FHA 203K when you buy the house?

All other stuff aside, one very practical piece of advise. 

Ensure you know their source of income, be it a job, 3 jobs, (may well take 3 people to make rent) or govt assistance.  Ensure you know when payday is.    The biggest issue with you getting your rent, is for the most part they are incapable of setting money aside each week for rent on the first.  All the good intentions in the world, they tuck cash in an envelope, but the car breaks down and the car is necessary to get to work, and they raid the envelope.  

DO NOT expect to collect rent electronically.  It won't happen.  If payday is Friday, Be there on Friday with your hand out.  Make sure they know you will be there.  Have a filled out eviction notice in the other hand. Its going to require a lot more effort on your part, but it will serve the purpose of ensuring you have first place in their mindset for who to pay, and it keeps the money from going to other fires.  

These people are down for a variety of reasons, some of their own making some not.

Mental illness. Disabilities. Handicaps. Lack of education. 

I had a young couple who got pregnant at 14 and the parents booted them. By 18 they had 3 kids and no job skills. 

I had Tex. He was a 60ish Vietnam vet who had nerve damage and other issues who preferred to live in a public camper sans pu than at the home for vets. Once a month he'd collect his meds from the VA and bring them to me. I'd dole them out daily for a week before he'd come asking for them all. The next two weeks would consist of having my maintenance people chk on him several times a day. More than once they caught him in the middle of the 6 lane Blvd drunk en route to the bathhouse. Sans clothes.

I had Fred. 50 something illiterate man who had been injured in a car accident and remained 10 yrs old. Mostly. Except he was gay. Which caused his parents to boot him. Fred had no idea why he no longer got his disability checks but he cleaned the bathrooms for groceries and cash under the table. We sorted it out when he brought me copies of the letters he'd received telling him he needed to reapply. In their wisdom they sent letters to a man who couldn't read.

I had people who thought nothing of shooting off weapons anytime of the day or night. It was easier to get crack than a gallon of milk. 

Alcoholism will be rampant along with the issues it brings. 

And not a bit of any of this was determined by their skin color.

How many other properties are available to rent in the area?  What makes yours stand out?   Can you offer an incentive to the right tenant?   Right now is back-to-school.  If the school in your area is a good one, people with kids want a good school.  But, from the perspective of a family putting kids in school, August was ALWAYS my most expensive month.  School clothes, shoes, backpacks, $100 worth of school supplies per kid!! , school fees, and the list goes on.  So while most people want to move before school starts, coming up with first, last, deposit, credit check fees for every adult on top of all the rest?  Not realistic for many.

If in your state, she is required to have a real estate license, I'd file a complaint with them.

Why are you finding out this from a neighbor and not your property manager?  Just asking...

And you weren't looking at the books?

Devils Advocate

Ask him what the circumstances were.  Ask him why he failed to mention.  Most people wouldn't think you could go back 14 years.  

I came close to being evicted once.  Landlord was a flake.  He insisted we install a landline phone, AFTER we moved in. (We had cells, which we provided him).  When I declined to take on another expense, he filed paperwork to evict me!  I went to court, showed that the rent was paid current, negotiated with his atty to pack and depart.  (No desire to stay).  

Does that show up in a search for evictions?  I don't know.  But if it does, it shouldn't disqualify me from getting another place.  

Just saw recently that SFO put serious restrictions on tour buses going past the "Full House" house.  A private family lives there, and traffic issues abound.   The logistics of doing weddings and corporate events in a residential neighborhood with no parking, zoning... Sounds like a lot of Extra Strength Excedrin in your future if you go that route.

Thank you.  I haven't been there yet, I'm looking at taking a drive this weekend.