All Forum Posts by: Bill B.

How are you having $10k turn arounds?

My average tenant stays 2 - 4 years in a 2200sf Vegas house and an expensive turn around is $2400 +/-, the average is closer to $600 out of my pocket. Tenants have $1800 security deposits but they usually get most of it back  

Are they damaging your property to the point they should be paying or are you using materials that aren’t meant to be used? I can’t imagine $800-$900/mo in damage. 

I don’t know California law from a hole in the ground, but if you’re saying the law says 60 days notice, I’d tell them a couple days before the rents due for the 2nd to last month. That way you’ve given them a full 60 days regardless of the length of month and time to get their stuff together. 

I agreed with the first two posts until I read the third and I had to go back and read the original. 

Please don’t post in your original question that you don’t want to hear “be honest” as any alternative is basically saying “what lies can I tell that sound believable?” what reason is there for starting a relationship based on the purchase of something probably over $100k on a lie? If you start with that lie can you have any problem with the seller lying at any point in the future of that deal? Heck, they have to lie once just to get back to even. 

Ps.  @don gouge Can you block people? There are several on here I would if I could. 

As I reread these, I came up with one possible out. If you’re close (say 1-2 days) some contingencies don’t start until the earnest check is accepted or at least until you get a signed copy back. I’d check for either fo those options if you’re are truly only 1-2 days out...

Hopefully you’re explaining that no, they don’t have to pay for representation as the landlord is already paying for it. They get the realtors help for “free” because the landlord is paying. In the same way that home buyers get “free”representation because the sellers are paying. 

They’re already getting screwed in to higher rent because do the fees the landlord has to pay to get them, don’t let them get screwed again by an unscrupulous realtor trying to charge them. If I was a democrat I’d say “there should be a law against that...” as a free market guy I hope tennants just boycott any such people 

What Mr Foster said....plus....

There’s almost never any “working with the current lender”...you’ll need to go out and get your own financing through your own source. If you call them up and say you “assumed” his mortgage or took over the property “subject to” his mortgage, they’re more likely to say, “nice, pay us in full in 30-60 days...” than anything else. Every mortgage in effect today through a “real company” has a due on sale clause saying they get paid in full when there’s a new owner. 

Why wasn’t the inspection completed in the first 3-5 days? If the seller didn’t deny access during the inspection period this is a complete failure on the part of scheduling. 15 days is plenty long for an inspection, houses I buy are almost always 5-7 days. And I get them done in 3 so I can look at the report during he inspection period. 

Have to check your contract, “no contingencies” is very rare. If your not paying cash, what was your plan if you couldn’t get a loan? I assume it says what will happen if ou don’t follow through on contract. (Often/usually you lose your earnest money.) if you wouldn’t pay $5k more for this property, and your earnest money is under $5k, ask them to split it with you or you’ll walk and lose your money. 

Every other answer is it depends on what the contract says. Obviously you thought there was a reason to get an inspection, what if it said the houses need $100k worth of foundation and structural work?

How would they respond if swat raided a homeowners property? Would they demand that every house in the neighborhood be a rental? Somehow, I doubt it. I also bet you aren’t the only rental in the neighborhood, their are very few owner only neighborhoods in America. 

2 primary houses ago, the house diagonal across the street from us was raided by swat. Everyone was excited for about a week and then it just a story to tell others. What percent of the neighbors do you think even use the next door ap? 10% 5%? Unless they want to buy your property tell them to pound sand. 

I’ve done 2 x 1 foot square paver patios in the 10x20’ area. Did them between tenants, don’t know if it helped but it replaced dirt backyard in Vegas, so couldn’t hurt. 5 years later they’ve required zero maintenance and only cost $1200 total for both with labor.