All Forum Posts by: Axel Ragnarsson

Hi BP,

I've found myself working on a deal where some new (and tragic) information has come to light. Long story short, I'm working with a seller to purchase his triplex and he just let me know that a few weeks ago one of his tenants committed suicide in the unit. The tenant also lived in the unit with multiple roommates, who are still living in the property. Has anyone dealt with a situation like this? The numbers on the deal make a lot of sense... but I don't quite know what I would be getting into here, in terms of legally required disclosures when selling, issues with renting the unit, or anything else. Any input/advice/things to look out for would be helpful!

Not sure if it matters, but the property is located in NH (New Hampshire). 

@Steve Y. What market is the property in? If it's Manchester, I would recommend the folks over at 

Cronin Bisson & Zalinsky Attorneys at Law

@Steve Y. Steve, sorry to hear that this situation is becoming a headache. I've dealt with something similar (also an eviction in NH, specifically Manchester). You would think that a M2M tenant failing to leave after you've provided legal notice would lead to a simple eviction, however,  you'd be surprised. Even in NH, a relatively landlord-friendly state, it is hard to evict for any reason that isn't non-payment. I tried to evict a tenant who failed to leave after I gave them notice and was met with the same pushback you received -  luckily the tenant chose to leave on their own. 

I try and avoid these situations by providing more notice than what is legally required (45+ days), offering to financially assist with moving costs, and providing resources to help the tenant find another apartment. This not only increases the odds that a tenant will decide to move out (rather than stay) but makes your eviction look a little less "menacing" in the eyes of a judge. 

@Hoang Bui

Congrats on your purchase. I think I can help with a few of the items you mentioned:

1. I can send you a pretty comprehensive lease agreement I use if you'd like. Send me an email and I'll get it over to you.

2. I've used Cozy in the past and had good experiences. I don't know where you're building is in Manchester, but depending on the area, you might find tenants who may have difficulty with an online payment system (don't have a computer, would rather send a check since they can't guarantee the money will be there when it auto transfers, etc.)

3. If tenants leave crap behind when they move out, deduct the cost of removing it from their deposit. If you don't have a deposit, you're likely SOL. You can try and chase them for money but that success rate is extremely low. 

4. Make sure you have a COC. Call city hall and be sure to transfer the existing one into your name (if there is one). If not, schedule that inspection ASAP.

5. Make sure you're following the lead paint disclosure laws. The most money you can take when a tenant moves in is first month's rent and a security deposit that doesn't exceed one months rent, so don't forget that one. Those are the big items in NH.

@Joseph Back thank you!

Hi BP,

I searched the forums for the answer to this but only found older threads. What are people using for skip tracing services? I'd like to input a name/location and find the seller's phone number. Does anyone have a service that has been working well for them?

Thank you!

@Robert Zazac

Honestly, any job where you have the freedom to step out of the office and make a couple of phone calls. Better yet, one where you can take off for an hour everyone in a while during the day (closings, inspections, etc).

If it’s real estate related, that’s just a bonus.

@Al Nelson

Questions you’ll have to ask yourself before you have that answer:

1. What will I do with the money if I sell?

2. What will be my tax liability and how to I best mitigate it?

3. What are my investing goals at a higher level and how does this property fit into it?

@Faina Bukher Honestly, I did not - I haven't had good luck with contractors out here. I went through two on the project I needed them for in this post and did not end up finding someone worthwhile

I’m a huge proponent of outsourcing everything in a real estate business (management, rehabs, agent activities) and I still so badly wish I was more handy. Numerous people have said it but when you have work that continues to be delayed, you might actually save money doing it yourself (holding costs in real estate are so overlooked). I would have done this on so many projects if I knew how.