All Forum Posts by: Brian Van Pelt

@Steven Denio

The reason you should not take any (0,zero,zip,nada) is "
"I actually did the same thing when I was using the home as my primary house"
You cannot charge a tenant for normal wear and tear on a property. Because it is a recurring issue, it's not your tenants responsibility.

Because its a pre-existing issue and you rented it knowing that its was already broken, you can reasonably expect it to get worse through normal wear and tear.

@Clark Kirkpatrick

I'd drive to the address.

This sounds like  a "Silence of the Lambs" sub plot. You will probably find the tenant has passed away, or an agent of the tenant is making out the checks.

Post an update when you find out.

@Gabriel Manson

Google

@Anthony Iemmello

Excel spreadsheet

@Derek White

alternative

. Cash
. Hard Money Lender
. Friends or Family Members Credit

Credit Fix
. Pay off some debt
. 6-12 months on time payments
. Challenge erroneous info on credit
. Pay off any judgements

@Larry Fullard

Since you are willing to pay for a lawyer and a CPA, I would recommend you hire a realtor to guide you through the paperwork leading up to closing. An agent familiar with investors  and investment property is critical when deciding on a first purchase.

@Zev Dobuler

Zillow is an advertising company, NOT a MLS, information tends to to be inaccurate. Their primary business is to sell (buyer and seller) leads to realtors. Redfin is a broker and is not obligated to display listings or sales from other brokers. The most accurate place for comps is Realtor.com

I tell my clients who ask about a recession to consult an economist. 

@Marion Ashmore

All leases have a beginning date and an end date. If the 'new' lease is after the end date of the previous lease, then its a new lease regardless of who is on the lease.Anything else is a modification of the current lease. 

A renewal is between the current tenant and the previous tenants. It could be argued that a credit check for the current tenant constitutes a "new lease". The best course would be to have PM show you where in the contract they define this as a new lease.

I would also renegotiate your PM agreement.

@Doug Peters

. Unless there is malfeasance , I would not fire a PM without someone ready to replace them.
. Ask them for a copy of any agreement they have on record first.
. Make sure deposits are transferred to you.
. If it'd "for cause" no notice may be needed.

What brought this on ?