All Forum Posts by: Troy F.

Hello BP,

Our tenant in Lincoln, NE of just over 1 year has informed us that he will be sentenced to jail next week.  We asked, what for and are you doing okay?  He explained he wasn't ready to give us details but seemed to be handling the reality ahead of him as well as could be expected. My question to the BP Community is what do we do next?  I'm sure going to jail is new for him so I don't want to bombard him with questions he doesn't know. He says the sentencing will happen on Sept 2. Not much time. What do we do with his stuff? I can't imagine knowing I was facing jail time and then my landlord says, well move your stuff out this weekend.  I haven't heard this one on the podcast yet.  Hoping you all might have a suggestion.

Troy

BP,

You people are amazing. I wouldn't be in the real estate game today if it wasn't for you. It is going well only I think I am a little too cautious. I keep missing deals. I love your calculators. It's what I use to make all of my decisions (to purchase or not). I think they would be even better if you could click a tab on the calculator page that would download a spreadsheet of all of my reports. It would be great to sort and organize all the deals and compare them to each other. It would help me know which ones to go after. I've got quite a few reports now. I've been thinking about that for years. I was hoping you smart people would know how to do that. 

Thanks,

Troy

Okay. I'll try a title company. So far I've spoken to a long time real-estate attorney and a separate title company. Both had never heard of it. Thanks for the advise. I do appreciate it.

Oh, I think I get it.  All real-estate attorneys will do a subject to transaction.  So far I am 0 for 1 and I've been receiving very negative feedback on the risks involved with subject to.

Hi Dwayne,

They all will what? I don't understand your response.

Thanks,

Troy

Hello, 

I am seeking a real-estate attorney who has experience completing "Subject-to" transactions. This transaction would be in Nebraska if that matters.

Thanks,

Troy

Hi there,

I have an opportunity to assume my neighbors loan.  It is a single family home. Nothing fancy. I am looking to do this transaction as soon as possible.  What steps do I take to make this happen?  His taxes and insurance are escrowed. How do I handle that as well?

Thanks,

Troy

I have a great tenant.  Great in terms of paying on time and never complains.  However, during a recent repair call the repair man reported that the dog barked constantly and that the apartment smelled strongly of dog poop.  The tenants lease is coming due and I am considering scheduling an inspection before offering him a lease renewal.  I would notify him of course as well as provide a check list of what we will be looking for.  I haven't done this before so I am wondering if I am getting into a realm of unequal treatment.  To defend this approach I can say I do have Section 8 tenants which the city requires a similar type inspection before they will approve rent payment.  I am considering using the section 8 guidelines for the inspection.  Do you all have a recommendation on how to approach this? Am I within my legal limits to request an inspection before offering a lease renewal?

Thanks!

Thanks!

I use Stessa to keep track of my rental income and expenses.  We have one section 8 tenant.  There is a category under income for Rent and another for Section 8.  My section 8 tenant pays $320 while the Housing Assistance pay $355 for a total of $675.  Do I list the whole $675 as Section 8 or just the $355 that comes from Housing Assistance?  Why is this category even there?  I imagine it makes a difference for tax filing purposes but don't actually know.

Thanks,

Troy