All Forum Posts by: Denny Mears
Denny Mears has started 0 posts and replied 15 times.
Post: Renting to Incoming Refugees
- Posts 15
- Votes 9
Why even bother there’s hundreds of local working normal folks in your area that need a place . I will leave you with what a lawyer told me “ it’s hard to win against someone who has nothing to lose “
Quote from @Ty Tucker:
I am seeking advice from more experienced investors in regards to what to do in my current situation with inheriting a bad tenant. I am under contract to purchase a duplex to house hack. The seller does not want to give the current tenant a notice to vacate until the deal closes due to the amount of deals that have been falling through, which I understand. However, the tenant has completely wrecked the unit they occupy. Multiple cats and a dog that are all pooping and peeing everywhere inside. It was disgusting. The gnats were really bad also. There was junk and clutter everywhere. I would like to close on the property with that unit vacant and deep cleaned. The seller has a soft spot for the tenant because she is a single mom with 3 teenage boys. I do not want to close on this property and then immediately go to court. I do not have a large amount of cash reserves either, so it is quite risky. The property is in an amazing location and the numbers are great though. Besides the tenant situation, the seller has agreed to pretty much everything and is doing a lot of repairs to the property, some that aren't even needed.
All advice is appreciated, thank you!
Do
Not do what you don’t want to do , if your new and have to go into a slob tenant situation you will likely find yourself extremely frustrated defeated and hurt financially. Do not close till that tenant is out .that must be agreed upon and completed in writing to close
Post: Backlash from a month to month lease termination
- Posts 15
- Votes 9
I usually just give them a 30 day and inform them I’m going a different direction with the unit . Now in some states like New Jersey you’d have to give a legal valid reason .
Post: What is the worst "proof of income" you've received?
- Posts 15
- Votes 9
She must be a “ butter face “ or have “ summer teeth “ to get such a low income on onlyfans
Post: The True Benefit of Being a Landlord
- Posts 15
- Votes 9
Hate to be cynical … Check back in a year after the honeymoon wears off . The first time her “radiator goes out “or she “was off sick last week “ both of you will have a different feeling !
Post: Smart Thermostat Recommendations
- Posts 15
- Votes 9
Just put a 69$ Chicago landlord thermostat in . It’s hardwired to never get above 71 . Has proven to have saved me hundreds a month on big old apartment houses in winter
Post: Half way house - Good or bad investment?
- Posts 15
- Votes 9
Quote from @Denny Mears:
Having a crazy person on drugs in your house can make life a living ( ask me how I know !) .. having 15 crazy addicts in one house will likely make you want to take drugs yourself !
Post: Half way house - Good or bad investment?
- Posts 15
- Votes 9
Having a crazy person on drugs in your house can make life a living ( ask me how I know !) .. having 15 crazy addicts in one house will likely make you want to take drugs yourself !
Post: Why I know there is no crash
- Posts 15
- Votes 9
All of these indicators analytics go right out of the window when the dollar crashes . The next crash will be our currency which of coarse will absolutely negatively affect real estate in ways we have not seen
Post: How will an eviction affect a tenant.
- Posts 15
- Votes 9
They will basically be sent away from every decent rental and stuck to renting from hobby landlords in the hood . It is a very foolish decision on your tenants part that will certainly hurt them