All Forum Posts by: Craig Janet

I require the deposit and first months rent due at the lease signing. Do not pay in advance. Meet the owner or agent at the property, sign the lease, get the keys, pay the monies due, get a receipt and a copy of the lease. Do it all in person. 99% scammers you will never meet face to face. You can't completely protect yourself but it's pretty hard to get burnt with this process.

I would still serve a notice on their door and start the eviction process. You technically haven't evicted them until after the court date, which could take weeks. You can always postpone the court date if you think the assistance is coming down the pipe. This would also light a fire under your tenant to get the assistance moving along.  

This is a long post but no actual numbers except for doors. How much did you invest? How much do you own? What's the ROI on "owning" a percentage of a building vs a SFH? What are the details of the partnerships?

Someone that needs to move in right now, is a huge red flag. Someone who plans to move in when their current lease ends, shows me that this person is responsible and a good planner. I will usually hold the unit for them.  

Good fences make good neighbors. I would budget a fence as soon as possible. It will make the property more desirable and solve the neighbor problem. I don't know what kind of neighborhood it is but a chain link fence would work. 

Consider yourself lucky you are only dealing with one broken blind. It could be a lot worse. Putting expensive custom blinds in a rental is asking for trouble. Charge the tenant a reasonable amount for the damaged blind and replace the room with cheap blinds.  

1. Get a job in construction. It's good money and you will learn how to fix things and how a home works. Even if you plan to hire out these task its important to know the basics.

2. Save for a down payment on a primary fixer upper. You're probably going to need a co-signer. 

3. Rent the rooms to some of your buddies and have them pay the mortgage.

4. Save up for another property. 

How much would it cost to bring the 35 year old house to similar condition as the new home. The age of the house is irrelevant if it's been maintained and the major components have been updated. 

How old is the HVAC, roof, water heater, floors, are the kitchens and bathrooms updated,  

That unit looks pretty old, I can't imagine it being worth too much to the previous sellers. Especially after installation and compatibility issues with other inside units. Mostly likely it was dopeheads who realized the place was unoccupied and they sold it for scrap. With your insurance deductible it may not be worth a claim, especially if they don't pay for labor installation.   

Did they steal the outside compressor? How much do you think its worth? That would be a pretty bold move by the sellers (cutting the freon, electrcial, loading it up)  but anything is possible. I would report it stolen to the police. I wouldn't get into all the suspensions you have with the former sellers. They need to at least file a report, then you can file it on your insurance.