All Forum Posts by: Andrew Jones

I while ago I read a post on BP about someone putting slanted drip pans under the sink so that if there is a leak water flows on the floor it is reported by a renter rather than pool and cause water damage especially in a second floor unit. I can't find this post anymore. I have searched and searched, but can't find actual name of this thing. I checked at home depot and didn't find it. Has anyone used this type of preventative maintenance in there own units. Where can I find this thing or do I have to build it. A picture or a link would be great. Thanks

I while ago I read a post on BP about someone putting slanted drip pans under the sink so that if there is a leak water flows on the floor it is reported by a renter rather than pool and cause water damage especially in a second floor unit. I can't find this post anymore. I have searched and searched, but can't find actual name of this thing. I checked at home depot and didn't find it. Has anyone used this type of preventative maintenance in there own units. Where can I find this thing or do I have to build it. A picture or a link would be great. Thanks

The price is a little high. If zero down it will be tough to break even on the building. It still may be a good plan because this is also going to be your primary residence. Keep in mind this may be a big hassle to be living right next to your tenants.

See if you can negotiate credit at closing for the maintenance you mentioned and any other repairs needed that way you will have some cash and be more flexible with your options when you finally own the building. Plus you don't want the seller doing poor repairs right before he sells.

In my Market (not Texas sorry) the Housing Authority (Section 8) posts on there website the rent prices for 0-5 bedrooms. Section 8 seems to pay more a little more than market rent in the C/D Areas of town because they base there rent prices on the whole city.

In my personal residence that I own my roommate's bathroom sink on the second floor had a leak that was never attended to (not sure how long it has been because I never go in their and I gave him a months notice to leave right after I found out). The water managed to seep through to the first floor ceiling. The water damage spots on the ceiling are several feet apart. I have the leak under control now, but I am unsure how to proceed in getting the place perfect again. I have a referral to a company called California Restoration (cal-restoration) from my plumber and a company called Servpro from a friend that is an insurance adjuster. Any suggestions or comments on what it might cost? Have you had this happen to you?

I am worried about mold and if it is unhealthy to be around, but I do not visibly see any mold.

Hello Tod R., New tenant placement takes about a month. Concessions are common with 1/2 first rent being the norm. So if I have to evict it would cost me:

$380 (3rd party eviction fee)
$1,012 (Lost rent during eviction process-takes about 6 weeks)
$675 (one months rent loss during new tenant placement)
$337 (half months concession)
$300 (estimate to make apartment rent ready again assuming tenant doesn't intentionally break things)

Total: $2737

Deposit is $300. I inherited this tenant. (I normally get a larger deposit)

I got this message from my PM today:

"The resident in unit 3 has not paid his monthly rent and owes $50 for last month. I just spoke with him on the phone and he said that a couple years back someone had used his social security number to work under. He has no idea who it was. He said that the IRS took his income, which is from Social Security for back taxes. Since his source of income is Social Security Disability if he works they will cut it off. So as of right now I do not know if it has been stopped because he shows income earned or if the IRS actually took his funds.

He said that he does not want to lose his place of residency and would like to make arrangements to pay his balance. I asked him if he will be receiving his funds next month and he said hopefully. I informed him, in situations like this we are able to work with most residents however we need documentation, verifiable proof that the situation he discussed actually occurred and that his Social Security will be reinstated. I told him that he needs to go down to the Social Security Department Monday and request this documentation.

At this time it is completely up to you how you would like to proceed. He has been served with a 3 day notice to pay rent or quit. We can proceed with an eviction at anytime. Would you like to wait and see if he is able to provide the appropriate documentation? He should be able to get it no later than Wednesday of next week. Please let me know your thoughts and how you would like to proceed."

The tenant has been in place for about 5 months and has been paying on time up to this point. He also keeps the place clean and hasn't really been an issue until now.

Should I give him some time or file eviction immediately?
The property is in California.

Anyone heard of or used this company? I got referred to them by a plumber when I showed him all the mold damage I had.

As a buyer.