All Forum Posts by: Asia Jones

@Trenton Doss Hey Trenton, do you have any updates on Ultra Maris Capital? Did everything work out, would you recommend them? Thanks for any info you can provide.

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Congrats on another successful BRRRR, thanks for sharing with us. It's awesome to see that you pulled out 100% of your original investment during the current climate we're in, and unlimited COC return is the icing on top.

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@Hud Floyd

Hello Hud and all my fellow brothers and sisters. I am a federal agent and I recently sold my first property/house hack. I’m now looking to invest the proceeds into a small MFH in the Harris County area in Texas. Looking forward to connecting with you guys.

Asia

1 Vote

@Donald Thomas Congratulations on taking the first step. May this be the first of many. Keep us posted on how the rehab and refinance goes.

1 Vote

Update everyone the tenant has failed to pay January’s rent and is refusing to pay. I now have the solution to my problem the eviction process has officially started. Thanks for all the responses and help.

3 Votes

Originally posted by @Brian Lucier:

There are three types of tenants I do not rent to.

Friends
Family &
Fools

No that thats is out of the way, let's focus on the issue at hand. I "hate" cash for keys and refuse to do it under any circumstances. This is because we have a rock solid lease and are very careful. It is unfortunate there was a error on the rental agreement. But it is in writing and a signed legal contract.

So, I would suggest:

1. Follow through with the 60-Day Notice that was sent to the tenant.
2. Do everything as legal as possible.
3. Follow the laws where ever this rental and potential sale is taking place.
4. Document everything in writing to prepare for your court date.
5. Make an additional copy to submit as evidence.
6. Only what you BRING TO COURT matters, forget about "he said - she said"
6. Prepare to spend more if you have to "move them out"

Or, write the check for $3,000

If it were me in this situation, I would write the check, put it in escrow with the closing attorney, and notify the tenant it is ready and waiting as soon as he goes and vacates the property – although I hate cash for keys.

We are looking at the sale of a property here were you could potentially put hundreds of thousands of dollars in your pocket. I know, I know, we are investors, and on "principal" the tenant is wrong, and you are right. But it that worth sinking the sale of a property over pride? Which is more important? Being right, or being relieved of the whole issue and moving on?

Perks to paying him.

1. It is tax deductible as a part of the closing costs.
2. It is a cost of doing business
3. It helps a family member which was your original intention
4. It allows you to sell the property
5. It allows you to move on

Tough love statement?
"Suck it up buttercup"

Please do not hate me for not having any filters. It is what it is. I know it is painful, but the tenant has a contract. If you do not pay him the $3K, you could end up spending A LOT more to move them out and put their stuff in storage (Massachusetts). Even worse, they have possession of the property and could destroy it on you. I hate the solution, but write the check.

If this is about being right - the tenant has a signed agreement to stay until May. This could cost a LOT more than $3K if you fight it.

Thank you so much for this, your list of perks is actually what made me break down and offer him the $3,000. To my surprise he is now refusing that and is adamant about staying in the house. Now its looking like I will have to spend more in the end and try to fight this thing out in court. One thing I think will help is that he made modifications to the property without my approval, has been smoking marijuana in the property and failed to obtain renters insurance all in which is stated as a violation per his lease agreement.

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@Isaac S @Jared Shoemaker @Edy Lagares @Michael King @Joseph ODonovan @Marian Smith @Robert Nelson @Ola Dantis @Ian Walsh @Matthew Paul @Alexandre Marques dos Santos @Chris Ball @Shelleman Paulin @Michael Robbins @Joseph Walsh @Bryan Devitt @Alan Dunlap

Thank you everyone for all the great advice it’s helping me put things into perspective and giving my different angles on battling this issue. As things progress I’ll keep you all informed on this mess. Sad to say I offered to pay him the money he wanted and now he is refusing that and from what his mom “my aunt” says he’s not going anywhere. I am officially a top student in the School of Hard Knocks.

Also my signature is not on the lease agreement. My signature is only on the agreement between me and the PM company bearing the 02/01/2020 move out date.

1 Vote

@Jane S. Yes that pretty much sums it up with the whole friends and family thing. I think the cash for keys at $3,000 is my best bet. Thank you for your response.

@Jon Reed I have a signed contract agreement between me and the PM with 02/01/2020. And the PM has a signed lease agreement with him showing 05/19/20/20. My signature is not on the lease. Thank you for your response.

@Calvin Ozanick thank you for your response.

@Jacob Sampson I’m actually trying to get really familiar with the law in the state of GA. Trust me I am done mixing business with family and friends.

@Nathan G thank you for your response. I agree with you. I have been trying to contact him and he’s not responding. PM has been reach out for a little over a month and no response with them either.

@Alexandre Marques dos Santos thank you for your response. I’m really torn between just paying him to leave or losing the sale of the home. Buyer needs to be in by the end of February and they are buying as is with no inspection.

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@Adam Harris although this sounds really good I don’t think I can legally go and change the locks. But lord knows I want to.

@Cedric Marlow unfortunately this is looking like that the only thing that will get him out. My next issue is he isn’t responding to the PM company or me.

@Kimberly Kesterke Thank you for your response especially you being from Marietta. My property is in Lawrenceville. I have my realtor telling me he deserves this and I should pay him more. I will definitely try have the PM company rectify this.

@Joe Splitrock I agree with you, I feel as if I’m paying for your bad behavior. I do believe I can use breach of contract as a way to get him out. He smokes marijuana in the property, made modifications to the unit without my approval and failed to get renters insurance. Hopefully these might hold up. Honestly from all the feedback it’s looking like just paying him might be the way to go. Thank you for your response.

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@BOB CRANEY that’s actually pretty good idea and to get another family member to help out. Lol I see that now because at first I was definitely trying to entice bees with vinegar when he cancelled all my showings.

@Scott Trench that really sucks with the tenants. That is a fear of mine too. Even though this is a blood relative I fear that I will possibly become a target for professional tenants in the future. He has violated 3 different things within the lease so I might have leverage there.

@Alan Dunlap I agree if I did decide to pay him I was thinking about having a RE lawyer draft it up and not pay him until he moves out and the house is inspected.

@Kris H that’s what I was thinking. The PM company just seems like they are giving up and not trying to go the extra mile to fix this situation.

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All Forum Posts by: Asia Jones

Asia Jones has started 9 posts and replied 45 times.

Post: Anyone work with Ultra Maris Capital, LLC? Saw it on BP

Post: Just completed my 3rd BRRRR

Post: Firefighters and First Responders in Multifamily

Post: First Deal Complete and WOW

Post: Tenant demanding $3000 to move out

Post: Tenant demanding $3000 to move out

Post: Tenant demanding $3000 to move out

Post: Tenant Demanding $3000 to move out

Post: Tenant demanding $3000 to move out

Post: Tenant demanding $3000 to move out