Okay........Have a tenant that I filed eviction on.The county was backed up so took awhile on the writ.Marshall is serving the eviction the 21st of November after 3 months from filing court date.The woman became disabled and filed for SSI disability.I talked to her case worker and the usual time for review is 2 years to get approved or denied.She told them she was getting evicted and sent evidence.They escalated and marked file for review.When I discussed with case worker even though file is flagged it still has to go through the judge for review which takes 2 to 4 weeks and then if approved SSI will send me the landlord the back rent owed which is around 4,000 with late fees and penalties.So the answer from SSI will not be in time before the eviction.I already told the tenant today I need at least half 2,000 or I am not stopping the marshall from evicting on the 21st.The lady says she would call me back and says she might could get the money but the issue is she can't pay me because when she goes for review for SSI they will ask where she got the money to pay rent.Then she could lose benefits or amount of lifetime benefits going forward and will not risk the lifetime benefit.She said if I just waited I am on the forms to get paid when she gets approved.My thing is If I cancel the marshall then I have to refile eviction and with the Holidays it will be January or February before I get them out.I told the lady I was not stopping it for a 600 payment and that she is not guaranteed SSI approval and I can't stop it on a PROMISE.We will see what she does.I told her to pay by Sunday.If I get 2 grand now it will be one less unit I have to rehab and then if SSI doesn't come through with the rest in 4 weeks I can evict again.She is judgement proof even though I have one on her I can't collect from pensions etc. with garnishment or bank levy.She was a tenant I inherited from a previous landlord 4 months ago when I bought the place and she used to pay on time before getting hurt with her back.Any thoughts or dealings with SSI Disability will be helpful.

Unless of course she'd assured her buyers it would lower and now she loses face/reputation...

Brian it just depends on the tenants.I do small increases but not too large.If the tenant has lived their awhile I have to weigh going up 20 bucks a month for 240 extra a year versus them moving,losing a months worth of rent (840) and then putting about 1,000 or more in new carpet paint and repairs.So at 240 extra a year it would take me about 9 years to recoup that money on the unit.It also depends on if you plan holding it that long or not.In my area tenants are barely getting by and lay-offs are happening every month to some.I think right now at least for my area isn't the time to push rent increases strong.I know what you are saying about landlords not increasing the rent for years and years.Some just want full and not deal with the headache anymore.They would rather have full and paying than charge higher rates and have more turnover and struggling from the tenants and more accounting to keep up with at multiple payments per month to pay the total rent.I believe as long as you are close to market rent but under by just a little you are not losing that much.It also depends on how cheap you bought the property.Some buy really cheap and cash flow like a monster because they purchased so low even though below market rents.

If a 5% improvement in value still loses to renting, you're answer is clear.Now, factor in a major repair.

You should be able to get a 15% discount pretty easily by showing the seller the transaction costs and holding costs he will have to pay if he markets, lists, and sells via a Realtor.I wouldn't do a 15-year amortization or a balloon.

I see it all the time where wholesalers contract something that's a REO on the market, but guess what....everyone else can see that same deal, so you win some you lose some, but know your numbers and what buyers are expecting.

David how u even find out about california owners losing properties thee?

It could have just as easily meant "its none of your business, Mr.

With a next egg of 350K+ - 400K, you should be able to easily hit 20-25% (maybe more) ROI (with leverage).One more note, if re-invest the capital with leverage, you should be able to shelter most of your "passive income" via depreciation.

If you have some desire to succeed, you can easily create your own 'accountability' once you have a plan (e.g. business plan) or at least an outline.