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Jennifer Y. Park
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The Forever EVICTION

Jennifer Y. Park
Pro Member
Posted Apr 5 2024, 20:39

Hi BP community, I'm looking for any support, encouragement, wisdom, because I'm feeling pretty defeated as a newer investor. School of hard knocks is costing me quite the penny, and now I'm questioning REI altogether.

I purchased a SFR in Independence MO, was $80K. I put too much into renovations because of the classic found a bad contractor story, so had to get another contractor out, and after 9 months holding cost and about $60K in repairs, $3K in appliances, I got the place rented. ( I also refinanced and was able to get about 133K out, which I paid off my HELOC and credit cards I used to pay for all the renovations and PP).

And if that wasn't bad enough then I paid a leasing agent to find a quality tenant, and of course this tenant paid only once, in Sept. 

November pre-eviction process was started, December got an attorney to evict. JAN hearing set, but was canceled because of weather, rescheduled for FEB. Tenant appears in court and requests for a trial. Prior to trial date, tenant make a deal to pay rent - so gives a check - and we dismiss the case, BUT THEN THE CHECK BOUNCES! 

So, now we are waiting on court hearing to set aside the dismissal - hearing set for APRIL, and likely (hopefully) I can proceed with trial for eviction in MAY!! 

So many rookie moves, and so many things I'm kicking myself over, but I share this story so others can learn as well, that even in landlord friendly states, things can take a long long time. (Yes, I should've only accepted a cashier's check, I'm also reading that even cashier's check can be forged?) Only reason why I accepted was because attorney said if he writes a bad check, then that would be a felony. 

Yes, I've reported to bad check unit, but not sure that there's going to be any success in getting money back from that. And now I'm concerned that this tenant is going to file for bankruptcy. 

Any other blinds spots I'm missing, or ways tenant can get away scamming out of paying rent?

I've thought of cash for keys, but out of principle, I want it want his record so this does not happen to any other landlord. 

I am considering selling the place, but not sure if I should given that I have a 142K loan in place with pre-payment penalty, or if I should just see this eviction through and just try my hand at getting another tenant in there vs possible lease optioning the home out. 

I'm hoping one day this will make a good story, but if there's any other words of advice, I'm open to it all. Thanks. 

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