Speaking of questions on property.

Should i speak with the alleged loud tenant or send communication out to all as a reminder?

This includes contacting the applicant’s employer and speaking with their supervisor to confirm job stability, income, and reliability​. if the person has not been employed at their place of employment they would require a guarantorCredit Score and Debts: Applicants need a minimum credit score of 620, and while we review debts, medical debts are generally not disqualifying unless they impact overall financial health.Criminal History: We do review criminal history to ensure safety and security for our tenants, while remaining mindful of state and federal guidelines.Rental History: Positive references from past landlords, with no evictions or significant lease violations in the past five years, are essential. and we can see into the court system if they have an eviction judgement.Release of Information: We include a release form allowing us to verify employment and rental history directly, which helps us get a clearer picture of an applicant’s background.This process has worked well so far, but I’m always open to improving.

I had to speak to them for 2 weeks to get it fixed.

The real property investment can be repositioned if it proves disappointing in its original form; it can be refinanced or recapitalized if it has too much or too e pensive debt; inflation over time bales out many bad purchases, and finally the investors knowledge, experience and abilities can be leveraged to turn around a cash flow negative property.I’ll provide an exampleThree years ago we purchased a note from a bank secured by two auto repair facilities with a large amount of excess land.  

If the tenant is truly struggling due to a life event, the sooner we can work together to get her somewhere she can afford (and not have an eviction or negative credit report on record), the better for all.

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

Even if you are negative cash flowing but living there, it may be worth it, as you are not paying rent to someone else.

At a minimum,  you should understand what the current zoning is and what restrictions there are.As the post above mentioned reaching out or going in person to speak with the planning and zoning department will be very helpful. 

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.