28 March 2023 | 0 replies
If it doesn't hold pressure, then they would jack hammer into the concrete slab to fix the pipes.
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11 November 2011 | 20 replies
I can see for a single tenant in a house that is not close to your other rentals doing a negotiation like that might work.Most of the tenants I have if the judge says to be out they go.Different tenants have different levels of knowledge with the process and the last thing you want is to empower them more.You will have enough professional tenants to deal with as it is.I always tell my property manager that "less is more" when talking with a tenant.The more you explain things to them the more they learn and are more difficult to evict.Let them believe they have to be out and most will just move and not wait on the writ.One tenant I had got a judgement in court and the eviction date from the judge.They paid the judgement and moved out and didn't wait on the writ.They didn't know about garnishment,bank levy,etc. and the process and just paid me the judgement.Also even if it is a house you have to watch if your properties are close to each other or renting to friends or family they will talk as well about you the landlord.Have another tenant now where she owes thousands and the writ is in a week.She has been waiting on disability approval from SSI.She wants to pay 700 but I have a judgment for a few thousand.I told her if she comes up with 2,500 I will let her stay otherwise she is out.The reason is at 700 it is not worth it to me.I would take 700 and then have to cancel the writ and refile eviction.With the holidays it could be January before I get her out again because of the courts taking the time off.At 2,500 I get most of what is owed and I don't have to recondition the property.Then I don't have to get re-rented during the Holidays which will most likely take a special first months rate to rent out.As a landlord these are the tough decisions you have to make on a case by case basis.We do inspections once a month.Then we know if we file eviction what kind of recondition costs will be needed to get ready again.Then you weigh the thousands in costs or hundreds depending on condition re-renting versus a workout with the current tenant.As far as evictions go most will pay the judgement.If they do not I am nice to them and press them to move out by the court ordered date.The property manager goes in daily and says a few more days and it all has to be out.This presses them to move.If they change the locks which they are not allowed per the lease then we have an impact driver that will push through the toughest lock in under a minute.Some will stay and wait for the writ but not many.I wait until they leave and then I "bring down the hammer" and file garnishment against them.I don't do this until they leave to keep them calm and make them think they are getting away with something.They leave the place clean with no trash thinking they are getting off scott free.
17 April 2018 | 4 replies
Before this thread gets hammered with real estate agents telling you to get a Real Estate license I am going to give my input. 1.
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12 May 2018 | 9 replies
All you've done is put bigger bars on the cage in hopes he never breaks out.What you really need to do is figure out how to find good tenants that don't require baby-sitting or you standing over them with a big hammer.
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20 September 2015 | 4 replies
You never have to pick up a hammer or a paint brush, or even know someone that can.
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23 August 2014 | 11 replies
It's a good idea to find out first before you sling you first hammer.
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15 September 2014 | 36 replies
This information was accompanied by an estimate for $2467 to jack hammer my basement floor, lay new pipe and re concrete over it.
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13 May 2020 | 100 replies
My class C property in the next town over with 22 units has also been getting hammered.
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23 May 2020 | 16 replies
@Sharlene BurchFull disclosure, I'm a multifamily syndicator, so this may seem like that guy whose only tool is a hammer, so he treats every problem like a nail.I like the idea of rolling money from 401k to a qualified self-directed retirement plan(eQRP/SDIRA/solo 401(k) - depending on your situation) and then investing passively in apartments.
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10 October 2018 | 7 replies
You can have a room full of tools but if you don't know the difference between a hammer and a screwdriver, well, you sure aren't going to build or fix anything.What I mean by this is how to properly analyze comps, navigate the paperwork, etc.