All Forum Posts by: Dave S.

With all the talk about mortgage rates plummeting, I wanted to reach out to see what rates and loan terms others are getting or researching during this time. It would be nice to refi, take some cash out, and pay the same amount monthly or just save every month. So let’s talk and share notes!

What are others doing about late fees for tenants during Covid? Are people waiving them? Based on background with tenant what should I do. I don’t know if the payments are late because it’s affected by covid or not but tenant took it upon himself to just pay base rent and ignore the late fees.

As background the guy has been my tenant for years. He has been late a number of times in the past but has always caught up. He normally doesn’t say anything about his plan to catch up and I have to reach out to him to do so.

Thoughts?

Unless you are in some bubble, you should of heard about Covid and the impacts of shutting down the economy. Im not here to get into politics but wanted to get people's opinions and possible alternative solutions for the following matter.

Background: Tenants lived in my property for almost a full year. Come January they just stopped paying rent.. Figured out that their disability / SS just ended.. (whole other story which doesnt make sense to me.. wouldnt you know when this would of been expiring well in advance???)...My property manager filed for an eviction... We were one day away from the tenants getting escorted out of property and then Governor Wolf (PA) issued a "no eviction" policy.. ONE DAY AWAY!!!... That was in the beginning of March.. yesterday he just extended this policy to atleast July 10th.. 

What are my options? The eviction has NOTHING to do with Covid but Im being lumped together with all of it.. 

Are there alternate methods of getting the tenant out???

At this time is there any funding, that I would qualify for, to ease the pain of the additional expense?

Another frustrating point is that they just received atleast $2900 from the government.. They are both working and making money...will they use that to pay their rent, will they try to talk through a plan with me or the property manager to get back on course, will they reach out to get assistance themselves... probably not...whats wrong with tenants....COMMUNICATE.. we arent going to just forget that you owe rent and you are going to get a free ride 

Thanks everyone.

@Justin Abdilla
I did not buy the property. To clarify the dues were $17k. The $45k is how much more the new realtor is trying to sell the property for now that the foreclosure has gone through. Not sure where the HOA fees and past due dues fall, but maybe part of the $45k is trying to recoup those costs. So yes it was a great deal as you can see since they didn't do anything to the property and trying to get the $30k more for it. (Will they get that much in the state it's in...maybe? / maybe not) but still a great deal. Should I of ate the cost of paying the hoa? Thinking maybe at this point but it's just didn't feel right to do that.

Also I believe in the state of PA, once a property is foreclosed on, any HOA dues will be wiped down to a max of 6 months. So jokes on the HOA if that's the fact!

So in short I don't have any recourse to go after the HOA for dragging their feet and basically making this 8 month long short sale endeavor fall through? I don't see anything in the by laws stating that the buyer is responsible. And to be clear the bank put this into foreclosure not the HOA, so if hey needed their money they should of triggered the foreclosure and put a lien on the property. They didn't do either.

Wanted to reach out and understand if this is legal or not for an HOA to do.

Found a short sale property, put it under contract and later (months later) found out that there were almost $20k worth of over due HOA dues.  The HOA was putting this onto me, THE BUYER, to pay! I didn’t sign paperwork stating that was my responsibility...The seller did. Shouldn’t they go after the sellers? 
Can they hold the property sale up for this??? Cause they certainly did. Now the property is foreclosured on and listed for $45k more!  I don’t know how foreclosure works with past due dues, who pays them, are they waived? 
if the HOA purposely dragged their feet to ensure the property got into foreclosure and so that they get paid that’s not right and I’m going to do something about it.

Hello, I live in the Lehigh valley and do flips usually within a 75miles radius around me. So I’m looking for recommendations for kitchen cabinet suppliers as well as countertop suppliers (granite etc) in this area or online that does business in the area. Thanks in advance

So the basement is open and the property is a bi level. The boiler has to be replaced no matter what. So my question is spend $3k to get a boiler installed or spend $7k+ to get heat pump and ductwork installed? Is the return on investment here. Property is located in the northeast. Thoughts? 

Always! :-) i always get more than one quote.  you have to now a days.  Thinking I have the best price. It’s just a crappy situation. Guy is knowledgeable and is helping to hunt down alternates and lower cost options. Unfortunately I think we are at the cheapest for the scenario. I’m just wondering if I have a leg to stand on from a legal standpoint. 

The field failed probably as a result of the baffle in the tank failing and then letting stuff go into the field. Also owner used regular sand when he temporarily “fixed” the issues.  So yes the sand needs to be hauled away and new sand brought in. Also to boot, now the system needs to be upgraded to 800gpd from 400.  

Reaching out to understand what my options are, here is the situation:

Purchased property

2 weeks after closing major failure of the septic system occurred

Sellers disclosure mentioned nothing about any effluent or any issue related to system or the sand mound, after this happened, I asked around and found out that this was an ongoing issue and the owner covered It up.

Even though the property was sold as is, is there any legal action that can be taken???? This isn’t a cheap repair, north of $25k! And as some may know, insurance does not cover this at all?

Thoughts?