All Forum Posts by: Thomas Meyer

That carpet is toast. You might be able to resurrect it if it's nylon, but if it's polyester, it won't improve much. It also looks like pet urine stains based on the dark round spots. Either replace it with a super cheap carpet or LVP like most have suggested.

Looking forward to the next one. I'll be away for the May meeting.

I am looking for a lead to a servicing company for first and second trust deeds. I am hoping to get a monthly flat rate and reasonable fees if the notes incur late fees or a balloon payment penalty.

Thank you

Any of them should work. They are all acidic which will/should remove the haze because it will dissolve the calcite in the grout. It's why you can't use any of those products on natural stone because it will etch it. The above remedies have some merit because you really need to clean the product off with clean water to remove it otherwise it will just haze and it might not even be the grout causing it. Last resort, get some enhancer/sealer and it will darken everything.

@Brian Levredge

Hi Brian, thoughts on Signal Mountain?

I think if the LTV is good, lending will continue.

@Will Chung

Do you have earthquake insurance? I have a handful of properties in the antelope valley and just placed insurance on them for fear of the big one. The insurance is pretty cheap and covers loss of rent for up to a year, etc.

just curious, are any of you freaked out about the earthquake potential in Ridgecrest?

Also, at least in California, you screen the tenants as you like. Once you have selected a tenant, you turn in their voucher to the Section 8 Office, which will create an inspection date. Once the inspection is complete and it passed, the case agent will call you and ask if you will accept a certain amount, which is based on an income formula. Always ask for the full voucher amount when turning in your paperwork. Do yourself a favor and check the rent comps prior so you can negotiate a little bit because they will try and offer a lower amount. Sometimes they just won't budge.

I have 4 SFH with section 8 tenants. Out of the four, three of them have been with me since the beginning, which was 8 years ago. The fourth house has had a few turnovers. For me, it was always about talking with them on the phone and meeting them. That being said, several applicants will tell you things you want to hear like they are going to stay forever, take great care of your house to include planting flowers out front, etc. Credit check is not really going to tell you anything. A call to their prior landlord is a great resource as well. I personally love the program...