All Forum Posts by: Roger S.

@James K.

   I understand and mostly agree with you viewpoints, I try to do my business in and moral and ethical way.  But I notice your profile says you are a flipper.   What is your goal when it comes to flipping houses?  Do you give away your efforts when you are done, or do you price the house at the market rate?

I do all my own repairs and maintenance, so my budget is probably lower than yours, especially with you in San Fran.    Your 20k bathroom would buy almost half of one of my houses.  Almost all my homes cost 60k or less.  My biggest concerns are central heat and air replacements.    I have 10 homes, but 2 of them have window units, so that's a break and 2 more have almost new units.  

  I don't worry about roofs, about every 10-15 years we get a hailstorm and the roofs get replaced anyways.  Last time I had storm damage to 2 roofs, I made 500 bucks.   Push comes to shove and I could reroof and 800 square foot house myself over a long weekend.   I don't worry about the people who say I should include the cost of having someone else manage my properties.   To me, my properties are my ticket out of a job I don't like, so my efforts there are a reward, not a liability.

I'm comfortable with my mins and maxes and my yearly set aside is 10k.   

Thanks guys

Originally posted by @Ryan Esaki:

@Roger S. thank you very much for your response! How do you find the min / max range?

At the moment I'm just using my best seat of the pants guess.

I set a minimum and maximum for my Capex account. I have a set amount that goes in each month. Once it reaches my maximum, I feel free to use the excess for other things.

So, I am proceeding with my first eviction and I have a few questions.  We rented the house to the wife.  Her husband was listed as an occupant, but is not on the lease as a lessee.    He has since moved out several months ago, and they are divorcing.  I have no contact information for him.  Should I list him on the complaint?   I did not list him on the 3 day pay or quit, as he is no longer residing there.

Second, is it generally allowed to add other damages to the proceedings?  There is no place to list them on the complaint, but she owes me for repairs to damage caused by her son.

@Joe Splitrock 

I understand that, and that is my point.  If you set aside 50% for expenses, and have a typical 15 year mortgage, you wont cash flow anything.   

@Jim Cummings

Yeah, I figure I'll never see a nickel, but it might save another landlord some headache.

My main reason is as an aid to future landlords.   We have denied applications because of an eviction.   Wouldn't you want to know about it if she were applying for one of your units?

Well, I guess it was bound to happen.  2 1/2 years into our rental business, 10 houses, we were due for an eviction I guess. 

Tenant notifies us about 2 weeks ago that she is moving out October 1st.  Her lease is not up until November.    Her rent was due on September 13th.   We were out of town for the last few days so today I delivered to her personally a 3 day pay or quit notice.  I also mailed one.   She stated she had no intention of paying this months rent or next months and didnt care that she was breaking her lease.  She tried to claim that repairs have not been done.

  I have fixed every thing she ever reported, except about 10 days ago, she notified me the floor had buckled.  

When she reported it, I asked her how long ago it started and she said over a month. I was very busy on another house at the time, plus I work 15 hour days 3 or 4 days a week and we have been out of town since last Wednesday, so today was the first chance I have had to look at it.  Yeah, it's buckled, and pretty badly, but it's not endangering anyones health.   I will probably have the whole house levelled once she is gone.  She also threw out the old standby of mold, but never once has she said she had a mold issue. 

In fact, I have text message going back several months where on multiple occassions she stated there were no issues of any kind.  Once was when I notified her I was going to do some basic maintenance, furnace filters, smoke alarm batteries, etc.   I asked if there was anything else that needed attention and she stated "No".   She also sent a message once about how good we have been to her.

Monday morning I will be filing the papers at the local JP.   She said she already talked to him and that she will be moved out before the eviction will take place. I told her I would proceeed with the eviction and get a judgement and that that would stay on her record.   She didnt care at all.

I happen to know the owner of the aprtments that she is moving into, so I gave him a call and let him know I was filing eviction for non payment of rent.

She also owes me 270 bucks for plumbing repairs, after her son flushed a toy down the toilet that required me to replace it, after trying to auger out the lines for a couple of hours.  I will see if I can get that added to the judgement.

Any advice?