All Forum Posts by: Ryan Dalton

Okay, BP Friends, I need advice. I own a rental property in WV that I am attempting to sell. The tenants (husband and wife) decided a couple months back that they were getting a divorce. I was assured they would be out November 1st. I am living in Texas and can not physically do anything about the situation. I'm getting word from my realtor that there are things packed up but it's a mess and looks horrible. The divorce has gotten messy and there have even been potential buyers turned away because the tenant wouldn't cooperate with a time. I texted the husband who is still in the house today to get an update on their timeline. Mind you, I have received no rent for this month. I am being told that she has a court order that won't allow him to remove anything from moving anything. He said he even tried to explain in court that they need to vacate the property and said they wouldn't listen. How can I handle this? Is there anyone I can contact to follow the proper channels to get them out ASAP?! I have one person very interested and another person viewing the property on Sunday. I do not want closing to be held up due to this! Thank you in advance!

Just my opinion here and I will probably get bashed but here we go. They have been saying the fed is going to raise interest rates in December. That was regardless of Trump so I believe it will happen. I also believe the market is about to see a bad time. Yes, subprime lending was the major contributor of the last crash BUT... something is in a "bubble" anytime it exceeds what people can afford. People couldn't qualify to buy homes with 20% down so many banks have dropped it to 10%. The average income per household in America is only $51,000 while the average home is $190,000. Many average Americans shouldn't be purchasing homes but they are. I believe the market was propped up for the sake of the election so as to not hinder Hillary's chances. Instead of the housing market going through a correction, they have just dropped the lending standards. It's hard to say what will happen and I could be completely wrong but between the interest rate hike that is about to happen and the economy being in the shape that it is, I believe we have hit the peak. The only place to go is down. I'm not out to start an argument and feel free to disagree. I won't bash you for your opinion but I know there are a couple people looking at my personal residence tomorrow and I'm hoping to close QUICK. If it doesn't happen, fantastic. If it does happen, that's cool too. I'd much rather catch the market on the way up rather than the way down.

Bump.  Anyone?

Thanks!

Well, the way I see it, either way, you're going to end up paying for the repairs.  After the repairs are paid for, would you like to continue dealing with this tenant or would you rather have someone who would possibly take better care of your property?  How hard are vacancies hard to fill in the area? What is the potential for there to be more costly damage that may even exceed the security deposit once the 8 months is up?

I don't have the experience to honestly tell you 100% the best course of action but just as far as my opinion goes, I think I would go through with the eviction.  

I hope everything turns out well for you!  I'll be following along to see what happen!

Hey all,

I'm looking for a rockstar selling agent around the Morgantown area.  If anyone has any recommendations, it would be incredibly appreciated!  

Thank you!

So I was wondering if anyone has ever flipped and aimed for energy efficiency as a primary selling point?

I was researching geothermal heating/cooling a few months ago and would love it in my primary residence one day.  It sparked the idea of flipping on the basis of energy efficiency. 

Has anyone ever taken geothermal, solar, etc. forms of energy into a flip and done well with it?  Unfortunately I've seen very wide, big numbers for geothermal (between $20,000-50,000).  It would be incredible to have a home where your electric bill looked like a water bill.  That would justify a much more expensive home in my opinion.  

Anyone have any experience with this?

Thanks!

Good deal, glad to hear it!  Congratulations on getting out of this situation!  Hate that you wasted the time with this property but it's better than being stuck with it!

Things like this are nice to see. Sometimes it doesn't seem like there are many trustworthy people left.

Please do let us know how this proceeds! I'm following and rooting for you! I don't understand what would make the seller think you were purchasing no matter what the inspection revealed. If that were the case, what would be the point of an inspection contingency at all...? Best of luck to you!

Hey Dave,

I'm looking to start investing as soon as I move to the Lehigh Valley area late 2016/early 2017.  I am initially going to be looking for flips but then plan to move into buy and holds.  I should have a little chunk of capital to play with if you may ever want to partner and/or wholesale.  

Thanks!