All Forum Posts by: Tiffany Plovie

Welcome to BP, Allison!  I truly wish you the best!!

Hi All!

   I will be moving this thread to the Real Estate Events and Happenings Forum to stay in compliance with BP guidelines.

    The event will be held on September 13th, with the venue announcement to follow shortly. This will be a great opportunity to meet up with fellow members and connect in a fun, laid-paid environment. We are going to have a rip-roaring good time, so I really hope that you can make it!

If you would like to be added to the list, please connect with me directly or reply here!

@Rodney Gresham 

 Welcome to BP!

  I would recommend checking out the site, clicking on the 'Learn' tab above and exploring all of the information listed there. The podcasts also contain a wealth of knowledge ready to be devoured.

  Also, you might want to set up key word alerts in your profile such as 'Veteran', 'VHA', 'Mississippi", ect., so that you are notified every time someone posts on that subject.

I hope to see you around the forum!

@Steve` P. I am so sorry you are having to deal with this!

   I would charge pro-rated rent for September. The tenant is holding up her end of the agreement by vacating with 30 days notice. It is illegal and unethical to charge for days the unit is unable to be occupied by the tenant. Would you like it if your mortgage company came to you after the sale of a property asking for an additional payment? I think not.

   As for the deposit, that is yours to keep until you are able to inspect the unit for damages. The changes the tenant made to the property are not to be substituted for rent, as they were not initiated by the previous owners or you.

As with everything of a legal matter, I recommend talking to attorney. An ounce of prevention is worth it's weight in gold!

@Nghi Le 

  You mentioned that you already have a real estate agent that you are working with to bring you deals. Is there a reason why you are not using her to list this house? 

@Jeffrey McKee  It is unethical for a Realtor to contact the owner directly. However, it is not illegal for you to research on your OWN who the seller is and contact them directly.

   I have had this happen before as well. I have had active, interested buyers who are unable to view a property because the listing agent was a flake. I will flat out tell the buyer that it is up to them how THEY decide to act on the property, and in the meantime continue to show them other suitable properties. Unsurprisingly, all attempts my buyers have made to connect with sellers individually has failed once the listing agent became involved.

Agents don't like to look bad, even if they are flakes. A listing agent has already built up a relationship with the sellers as a trustworthy person; so much so that they are entrusting that person with perhaps their biggest asset. While a successful deal can be had, I have never failed to find a more suitable property for my clients in the length of time it takes the listing agent to respond.

 Frankly, dealing with deadbeat agents is a waste of time.

I wish you success in finding the property that is right for you!

@Edward Briley  You need to find an investor-friendly agent.

I have been actively involved in real estate since 2002. First as an investor, and later as a broker. I am more than happy to work with investors on low-priced property because I know that they will always come back to me. They give me their specs (what they are looking for, how much they are willing to pay and their desired ROI), and I actively search for them all day long, either through the MLS, wholesalers or properties that are off-market.

As an investor-agent, there are many times people bring me properties before they even hit the MLS. Traditional agents do not have access to these properties. Why? Because investments are not their focus, it is not even a part of their frame of mind.

I would post on BP asking for investor-friendly agent recommendations in your area. Best of luck to you!

@Brandon Turner 

What an interesting story! Really, you could not make this stuff up!!!

   On a legal note, I would never force entry into a tenant's unit without a police officer present. It is important to have documentation regarding each and every incident with a tenant. In a situation where forced entry is necessary, it is important to have a police officer with you, if only to act as a witness.

There is also a very real chance of violence when dealing with someone who is mentally unstable and abusing substances.

This has been an interesting thread to follow.

 However, the 'why's' and 'how's' of the reasons why a bank may or may not activate their due-on-sale clause seem less revalent than the fact that it may.

Just my .02.

@Ashley Pittman 

It is okay to go slow, and figure out what you are comfortable with. Educate yourself before making any big decisions.

It is all about the deal. It is about the numbers, take the emotion out of it and focus on the numbers. BP has excellent tools and calculators to help you decide if a property is going to cash flow or not.

I strongly encourage you to check out Brandon's case study because it shows how to invest with little to no money down. Also, checkout Homepath. They require only 5% down and usually provide an option to get a Rehab loan.

We have all been where you are. We all had to begin somewhere!