All Forum Posts by: Chris Brenner

@Ralph R. Roger that.

@Joe Splitrock this is also all very good info. I was hoping to see both sides with this post. I really appreciate your thoughts and wisdom! I'll definitely figure something out, and this all really helps in my process. Thank you

@Ralph R. Whoa, this is great info. I really appreciate your time and wisdom! I am using my best customer service to get things I need from this tenant. I'm going to use the LTA as a guide to remedy issues and cover my butt. Thanks for the response!

@Connor Dunham thanks Connor for your insight and wisdom! I was just thinking about an addendum. This is all very helpful and I will definitely implement.

@Keenan Fitzpatrick likewise with Jeremy, I appreciate the feedback. I'm talking to contractors now to get a ballpark for what I'm going to need to budget for. Thank you!

@Jeremy Bartlett that's what we were thinking. I really appreciate your feedback! Thank you.

Hello! My wife and I are new to the REI scene and actively looking to make connections, deals and grow our portfolio. We just recently bought a duplex and am owner occupying. The tenant side was already rented out and since closing, a few red flags have popped up. 1: the day rent was due, I received a text asking for rent to be delayed 2 days for personal reasons(I accepted because after 7 days there was an official late fee). 2: The condition of the unit is clearly not kept very well (ruined carpet with holes from dog, pee and poop literally on the floor), and 3: most recently I learned that they habitually pay electric upon notice of shutoff.

The dilemma we're running into is that we have long cold winters (Fairbanks, Alaska) and cant afford at the moment to pay for the renovations and carrying costs (cash), that will be required to make the unit to my standards. My wife and I think we should keep them for 6 months til summer when it will be easier to get the renovations done. They still pay the bill and arent "technically" late, and they clearly are okay with their current conditions. I guess my question is, should we ride out the winter with them, or give them notice and carry some costs for a few mo this to get the renovations done with credit? I appreciate everyone's time and help!