All Forum Posts by: Michelle Martin

@Bjorn Ahlblad I have a property manager that has been great at tending to the issues.

To make a long story short, I just purchased a SFR out of state that was occupied with a long term tenant. Well the tenant decided to move out a week before escrow closed. On their way out, they left a few broken windows and a mess. And that's not it. My contractor noticed rat poop! In fact, he swept up 2 gallons of it. I had the exterminator come out to fix that issue. When I thought nothing else could go wrong, the new tenant moved in, cuts on the furnace, and roaches swarm out of the furnace. I sent the exterminator to fix that issue as well. Then the very next day, the tenant complained about being bit by bed bugs. She also noticed bed bugs crawling up the walls and on her shower curtain. And she sent pics. I'm pretty sure the previous seller knew of these conditions and failed to disclose this information. I'm really frustrated. What would you do in this situation?

@Bill F. Lol. Exactly. Feels just like Twitter, with all of the unnecessary name calling. This thread gave me a good laugh though 😁

@Jack Orthman do you ever have Meetups? I'm in your area and would like to learn more.

@Justin Tippens for $70k, I would expect over $1000 in rent.

@Martin Neal I'm right there with ya! Trying to build up my team there first.

@Bryan Otero Are you familiar with the area? Any issues with the property? Is it currently occupied? If so, what are the tenants paying? Tenants could be paying below market rents. Are the tenants paying for all utilities? What are the area comps (check Zillow)? Are you willing to house hack? If so, your down payment could be cheaper.

@Byron Scott Awesome!! Congrats!!!

@Tyler D'Alessandro I personally think the rents are too low for the price. I just walked away from a 4-plex deal in Cincinnati due to foundation/structural issues. The asking price was $109k, and it's bringing in $2300 a month. Keep looking in the Midwest.

@Nathan Asher Robson I recently contacted the listing agent on a property that has been on the market for almost 300 days which dropped in price from $60k to $30k. First thing I said was What's wrong with this property and how come it's not sold. She said nothing's wrong, the owner just wasn't serious about selling it, but now he is. Hmmm strange. Then she sent me a message saying the owner wants cash only with a 10 day closing and he will "quick claim deed" the property. I responded "I'm assuming you meant a special warranty deed because a "quit claim deed" is highly risky." She never responded back. Something was fishy about that whole deal.