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All Forum Posts by: Luis Pereiro

Luis Pereiro has started 7 posts and replied 26 times.

Post: Unauthorized Pet and damage

Luis PereiroPosted
  • Investor
  • Tampa, FL
  • Posts 28
  • Votes 4

@Gail K. Thank you for your input. Honestly would prefer not to terminate the contract since they do pay on time and I believe it will be harder to rent now as we near the holiday season. If it were another type of dog. I would let them slide with just paying an additional Pet fee. I don't think allowing 2 pitbulls in a home would very smart of me. Luckily I did charge additional security deposit because there were a few red flags in their credit history. So I could use that to evict them and be fine for 2 months. That will be worst case.

Post: Unauthorized Pet and damage

Luis PereiroPosted
  • Investor
  • Tampa, FL
  • Posts 28
  • Votes 4

Hello BP. 

Seeking some advice on a rental. Tenants asked for me to repair the wooden fence. I met with tenants and saw that it was leaning a bit and a few of the panels were loose.  Informed tenant I could do some small repairs at my earliest opportunity since there was no obvious emergency. I first contacted them 2 week ago to go by to do the work. They asked if I could come back the next day or the weekend. Said I couldn't and would call them the following week. Called this past Friday, again they asked if I could come back in the evening or weekend because they had left the dog outside during lunch. I normally contact tenants a day prior but did not think it was necessary since the repair was going to be outside and did not need to enter the home. Plus, in the past when I needed to go by to do repairs they always asked if I can go in the evening because they don't keep the dog locked in the home during the day. So all this was very odd to me. Something told me to go by plus I wanted to check again what supplies I was going to need for the repair (since it is a corner house I could check from the outside). When I arrived I knocked on the door as I always do. To my surprise, 3 dogs came to the window. 2 pitbulls and another smaller breed (there was no dog in the backyard). In our original contract, though I advertised no pets, I made the exception to allow their elderly pitbull into the lease and charged a nonrefundable pet fee plus a monthly fee. I am very upset now because not only did they lie to me but now have 2 additional pets on the premises not on the pet addendum. 1 being a much younger and larger pitbull. I also checked the fence and it was in much worse condition than a month earlier. The panels have become detached completely from the posts in multiple locations. Though I can't prove it, I'm not stupid and know this is not normal wear and tear. And now seeing there are multiple pets. I'm pretty sure the damage is being caused from the pets trying to push their way through the fence. I have chosen not to say anything yet and will go by again tomorrow to see if by chance they were maybe dogsitting. Plus I was so upset it completely slipped my mind to take photos. 

Tenants do pay ontime each month, so I would prefer not to terminate the contract. But I definitely need to take some action. I also do not feel it is my responsibility of repairing the fence without any ramification to the tenants. Would love to hear your input on this matter. If I decide to fine (charge a fee) for either the extra pets and/or the repairs. How is that done. Do I simply email them or send them a letter informing them of the fine or additional fee on top of the normal rent.

Sorry for the long story, just wanted to give as much detail as possible. Thank in advance!

Hello BP

I have rentals in an older neighborhood which is connected to the city sewer line, except for 1 street. Not sure why that is. I happen to have 2 of my rentals on that street. I've spoken to a few of the neighbors and we are all very interested in converting from septic to sewer. I have tried contacting the city water department and they sent me to the waste disposal dept. Its been 2 weeks and they have yet to return my calls. I emailed them, and they simply replied with a short message stating there is no sewer line available on my street and there are no plans  to install one in the near future. DUH!! They have not responded to my follow up emails either. I'm stuck and in need of assistance as to what to do next. I've thought of setting up a petition asking the homeowners to sign. Not sure how to go about that. Would appreciate any advice anyone has towards this scenario. Look forward to your responses. TIA

Post: RP Funding

Luis PereiroPosted
  • Investor
  • Tampa, FL
  • Posts 28
  • Votes 4
Originally posted by @Deborah R.:

I have no info to offer.  But we're looking into doing a refi with them.  So, we'll see!  

 Hi Deborah. Did you close with RP Funding? Any feedback with your experience. Thanks

Unfortunately, because of the problems and extra costs involved with using the Work Number. I have decided to automatically disqualify any future applicants using this. I will make exceptions and ask them to speak to their employer to allow me to contact them and give me the necessary information I need to complete the screening. I am not sure if this is "Legal Grounds" to disqualify someone, maybe someone with more knowledge can comment on this. Luckily, in Tampa there are so many renters and not enough rentals, that I can do this and not affect me. It may be different in other areas. I check both the pay stub and call the employer. And I usually don't call the number the applicant provides me on the application. I research the company on Google and call using the phone number i find there. Just in case.

Hi. Thanks for posting this. I'm curious to know if anyone ended up using Angel Oak. I spoke to them this morning concerning their long term programs. I have only used Lima One Capital which was a good experience. But Angel Oak's program is very competitive with theirs. Will be following hoping for additional feedback. 

Post: Finding a portfolio lender

Luis PereiroPosted
  • Investor
  • Tampa, FL
  • Posts 28
  • Votes 4

Hello. I am interested to know if you were able to find any portfolio lenders that were able to help. I am looking to upgrade from my HML to a portfolio lender in hopes of finding better rates and lower fees. I am a buy and hold investor in Tampa and am nearing completion on my current project which I will be looking to do a cash out refi. I already have my next project lined up and will need the money from the cash out to purchase the next one and do the same. I currently control 4 rental properties. Any suggestions or guidance is much appreciated.

Hello. I am interested to know if you were able to find any lenders that were able to help. I am looking to upgrade from my HML to a portfolio lender in hopes of finding better rates and lower fees. Would also like to start building a relationship with someone local instead of in another state. I am also a buy and hold investor in Tampa and am nearing completion on my current project which I will be looking to do a cash out refi. I already have my next project lined up and will need the money from the cash out to purchase the next one and do the same.

Originally posted by @Rhett Tullis:

I refuse to work with "the work number" they are a joke.  This seems like a way for the HR dept. to pass the buck.  there are other ways to verify employment without dealing with them.  

 I completely agree

Originally posted by @Curtis Yoder:

"I have a company that is set up to manage my own rentals in Oklahoma. However, I use a local real estate and Property Management company here in Orlando for local rentals. I cannot imagine keeping that Property Manager around, document what you are experiencing and fire them. They are costing you money if your tenants are leaving. Obviously, if you have a contractual agreement in place run this by your attorney. "

No this is not my Property Management company. I do my own property management. Atleast for now. I am trying to contact the current property manager and I get no response. I went on google to research them and there are many complaints. Thank you for the information.