All Forum Posts by: Account Closed
Account Closed has started 8 posts and replied 91 times.
Post: Non payment due to medical hardship
- Investor
- Memphis, TN
- Posts 105
- Votes 68
@Sandra Holt, you're the real MVP here. Good on you for sticking to your guns and treating your tenants with decency and candor. It takes guts to wager a bit of short-term profit on humanity, but I offer that it will pay you back.
It's good to watch out for your bottom line, but it is also important to realize the importance of housing in a person's life. All the best, Sandra.
Post: Memphis area with no city tax
- Investor
- Memphis, TN
- Posts 105
- Votes 68
Memphis keeps expanding, so those areas may be Memphis soon.
Post: Preforeclosure and Auction Properties...???
- Investor
- Memphis, TN
- Posts 105
- Votes 68
you could check the register of deeds, if that county lists those records
Post: Memphis area with no city tax
- Investor
- Memphis, TN
- Posts 105
- Votes 68
some parts of 38128 are unincorporated. Not sure about other zip codes.
Post: robbery at one of my rentals
- Investor
- Memphis, TN
- Posts 105
- Votes 68
I'm going to second NOT boarding up the home, because it's the pits for the people who have to live around it.
Putting a cage on the AC is sensible and not that expensive. It also prevents you from needing to remove the thing if the place is vacant.
That's from my experience as a homeowner, though, and not as a seasoned investor.
Post: Memphis research service
- Investor
- Memphis, TN
- Posts 105
- Votes 68
Alternately, I could just as well find the back taxes for all the houses on a particular street.
Post: Memphis research service
- Investor
- Memphis, TN
- Posts 105
- Votes 68
@Curt Davis right now I'm not. Eventually, it could be a lead generation service for which people pay. I'm good at mining Shelby county data.
Post: Memphis research service
- Investor
- Memphis, TN
- Posts 105
- Votes 68
I'm not marketing a service, but I'm wondering whether or not people would be interested in receiving daily updates about Memphis area foreclosures. Basically, I scour for Assignments of Deeds and Substitute Trustee Deeds, then run those through a little system that pulls the owner's info, a photo, map links, plus links to deeds and titles at the register. It's all public data, but I can package it quickly and nicely.
Would this be a service that the BP community would be interested in?
An example of the kind of data I'm talking about is available here: https://drive.google.com/file/d/0B5pr1-PA8FmiU2lKS...
Post: Triplex- Raise rents??
- Investor
- Memphis, TN
- Posts 105
- Votes 68
"In 2013, nearly half of renters were considered “cost-burdened,” meaning they spent more than 30% of their income on rent. More than a quarter of renters were considered severely cost-burdened, forking over more than half their income on rent."
http://www.forbes.com/sites/laurengensler/2015/06/24/rising-rent-cost-burden/
Post: Triplex- Raise rents??
- Investor
- Memphis, TN
- Posts 105
- Votes 68
Originally posted by @Hank Parater:
Thanks for your responses. To clarify, the rent being paid by tenats is $600p/m, $500 p/m.
The market rents for the area are $850.
When I purchased, there were no leases in place. The previous owner just had verbals. But they paid, on time and consistently.
I think I will take @James Wise advise and wait until spring. The current rents offset my mortgage anyways. Since I will be living next to them, I want things to be smooth. By then I will have done maintenance and improvements at which time I will raise rents by $100. Then, do 6 month lease agreements that gradually raise $50 p/m every 6. That way they will know what's coming and to be prepared.
Better let them know in advance. Not everyone can easily absorb that much extra cost. Give them ample time to find something they can afford.
How about giving them their current rate on a lease for the next year, then raising it?