All Forum Posts by: Trey Keith

@Eddie Werner she is definitely a pro. Thanks for the contact.

Yes I live in Louisiana. Sorry, I should have mentioned that my brother in law and I own the property together. He actually manages it.

We hired an attorney for the Court of Common Pleas appeal, but he didn't get the job done. Any suggestions for a good attorney in that area?

I have a tenant in Pittsburgh, PA who refuses to pay rent and refuses to leave. She hasn't paid rent since July!!! We have been to court 3 times and were granted possession by the District court in September but then she appealed. After waiting 45 days to get a court date at the Court of Common Pleas, they ruled that she could stay but had to pay rent....and guess what...she's still not paying!! This seems like its never going to end and my losses keep getting bigger because she is destroying the house and not taking care of the property, not to mention the legal fees keep piling up. Does anyone have any suggestions on how I can get her out? 

@Ralston Grose

I would say this is a decent deal @$140k, but for me it comes down to the market. If your in a growing market where your likely to experience appreciation and rent increases over the next 10 years, then go for it. If not, then I would pass or make a lower offer. I prefer to buy CAP rates above 10, but your close. I would also advise to put 20% down on every deal. Some may disagree, but in my opinion interest and taxes is what keeps the middle class in the middle class...

Good Luck!

@Joshua Runge

Just by the numbers it sounds like a great deal! I'm just curious what expenses you calculated for this property because your monthly cash flow should be much higher at this price. If this house were in my area of LA it would cash flow over $300 per/mo giving it close to a 20% CAP rate!! In most places, deals like this that REQUIRE NO RENO, simply do not exist. Again, this is strictly by the numbers you have provided and I'm assuming a 20% DP.

Which brings me to my biggest question...Why would someone sell a house worth $80k for only $33k?? In my experience, its crucial to always find out why someone wants to sell, especially when they appear to be losing money. In most cases, what they tell you is a lie. I would go through this place with a fine toothed comb and check every sq. inch. How old is the roof? Age of HVAC/ furnace? Does the plumbing need replaced? Is the foundation solid? Flood zone? etc etc.. Your due diligence on a property like this one is crucial.

I would proceed with caution, but definitely proceed!! 

Good luck and let me know if I can help further.

@Judy P. American Home Shield is a terrible company! Stay away! I've had several bad experiences with them and will never use them again. Their customer service is terrible along with their service providers. In 2 different cases, I had to pay someone to come behind their service providers to fix the issue that they were supposed to have repaired. AHS also has a lot of hidden fees and items that they will not cover, especially involving A/C work. My advice is to just pay cash and stay away from home warranty companies.