Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Deanna O.

Deanna O. has started 3 posts and replied 360 times.

Post: When tenant applicants lie...

Deanna O.Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 366
  • Votes 314

Lie in the application process = Game over. 

I pre-screen before the MySmartMove background check (note that MySmartMove just asks the applicant what their income is - you are on your own to verify).

The final part of the process is the paid background check, and I ask, at least 3 times "Is there anything I should know about? This is a VERY THOROUGH background check that shows even traffic tickets. Are you SURE there is nothing I will have questions about?"

I've only had to reject one household for lying (they mistakenly figured the criminal check wouldn't go back to '90s, or include Alaska). I liked them, but suspect it would have been constant drama.

Post: legality and morality

Deanna O.Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 366
  • Votes 314

I listed 2 old cars for cheap on Craigslist yesterday. Just because some yahoo offered half of what I was asking doesn't mean I will sell to the other 3 people trying to offer payments or sob stories (payments on a $600 car? are you kidding me?) .  In fact I'd say it makes it EASIER to dump the questionable responses, since I'm already cranky due to being annoyed by idiot boy.

  I'll be calling the first intelligent-sounding listing that had the common sense to leave his phone number.

Post: Is an FHA Loan realistic for me?

Deanna O.Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 366
  • Votes 314

Paying $1600/mos in rent...have you considered BEING a roommate? Look for a month-to-month situation (so you can move once you find a place of your own), but also that will give you a better idea of if you could cope with renting rooms out too.

(after 20+ years of roommate living I'd say that making sure everyone is on the same page is more important than the area or anything else. OK to live with a party crowd if you are also a partier,. OK to live with hermits if you are a "go to your room & avoid all human contact" sort of person yourself).

Post: Am I missing something or is my contractor being greedy?

Deanna O.Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 366
  • Votes 314

if he's whining after the fact he's not your long-term guy. Either he's bad at math, bad at figuring how long it will take to do a job, or bad at communicating with you (either way, not a good businessman).

What happened to your "old" carpentry crew?

(oh, and in line with previous posters, you DID forget to calculate his coordination/travel time, so he did NOT make $ 59. Probably closer to the same $41 he paid his guys after you have a phone call or two and travel, gas, etc.

Post: New, Eager to Learn, With a bit of a challenge.

Deanna O.Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 366
  • Votes 314

Honestly, I'd have the LLC purchase property, but continue to rent elsewhere. It sounds like until your ex passes away or is imprisoned your future safety will always depend on being able to relocate quickly when needed. To be brutally honest, owning your "home" creates an emotional tie to a place that will always, always, always cloud your judgement (also, from experience, don't register to vote at any current address. It's too easy get info from the register of voters).

Post: First Flip $100,000+ Profit, SOLD IN 1 HOUR!

Deanna O.Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 366
  • Votes 314

When you hear the phrase "it's who you know" most people aren't talking about handymen! Sounds like Tyler has mastered the knack of knowing the right people and what makes them tick (freedom to work on their own schedule/at own pace, happened to have the month off, fun/relaxed work site, got to listen to loud rock music & have BBQs, they all went to school together, their Moms are friends, they are between jobs, whatever).

Post: I need help

Deanna O.Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 366
  • Votes 314

ps, 30% late is a pretty bad track record in most of the landlord world. Good that the tenant contacted the landlord & paid the late fees, but when you are interviewing prospective tenants that kind of track record is a big red flag that the tenant is very paycheck to paycheck or living beyond their means. In lower rent markets that might be a trade-off that you accept to get otherwise good tenants, but in a middle-class market a tenant who is late 1/3 of the time is likely to be out on their ear. 

That said, my personal rental is in a poorer market, and I have generally waived late fees as long as the rent is only a day or two late & the tenant tells me ahead of time. 

I'm flexible on other things -- rent due mid-month rather than on the first or split rent, paying a few days late because they are out of town (they were 2 weeks early the month before, so I'm not worried that they are falling behind).

Most of my tenants have been younger and just starting to move upward in the world -- it doesn't really matter to me what day the rent arrived or if it comes in two payments, as long as it arrives at the same intervals. Tenants who start pay later each month are falling behind, & sooner or later their financial ship sinks & their problem becomes your problem. 

Post: I need help

Deanna O.Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 366
  • Votes 314

My thought is that as a landlord yes, reduced rent -- if the problems was for 2 weeks I might reduce by 50%. 100% off rent for a problem that lasted half the month doesn't seem fair to me. 

So it was really nice of the tenants to give 60 days notice (most places it's 30 days, none required at the end of a lease).

Some reduction of rent is legitimate, but 100% seems a bit extreme.

If you are facing this situation as a landlord you might consider contacting the tenant advocate agencies and see what they feel is fair.

Post: I need help

Deanna O.Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 366
  • Votes 314

Have they talked to the landlord? Some landlords won't bring it up, but will if they are asked. What is their current relationship with the landlord? Has your friend been a long-term excellent tenant (rent ALWAYS on time, quiet, keeps place spotless, etc)? 

While most landlords want to be fair, they tend to be under stress in a situation like this --The reduced rent is $ out of their pocket, in addition to the cost of the repairs (making it a very bad month for them, even if they are a responsible landlord and have all the money set aside in a separate account saved for exactly such emergencies).

Post: recomended book

Deanna O.Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 366
  • Votes 314

Hey Jon, I'm pretty sure what we tell ourselves can get us into trouble too...