All Forum Posts by: David Stone

That's good to know. I guess I'm just planning ahead for worse-case scenario. 

Thanks!

It never hurts to put in an offer, but... Have you had any contact with the owner/seller yet?  Try establishing a relationship/rapport first, determine motivation, and try to find a win/win deal based off what you uncover.  You may find them at the right moment where they are just ready to get out of the property.  I think this may give you some advantage in your negotiations.  

Good luck on the deal!

Hi, I was looking for a CPA referral in the area of Grays Harbor or Thurston County, WA... if anyone has a referral or if there are some investor-friendly CPA's out there, it would be much appreciated!

Thanks, David

For sure! Tenant selection has been a huge priority and I have been more than happy with the results so far.

@William H. - In my experience power will be shut off but will be resumed without payment in circumstances involving families/children, elderly, people with medical conditions, outdoor temp influences, etc.

@Jeff B.I will do the same, good idea! I am going to have to set some monthly reminders in my phone to make sure I stay on top of it. 

What are your steps when a tenant is behind on payments and continues to not be cooperative with paying the utilities cost owed?

I initially chose a 3 year option, 3.5% down for option deposit, and priced the property $10k over current market value.

He was ok with the purchase price was not sure he could come up with the option money.

I will definately consider going straight to the purchase agreement and pushing out the contingency dates. That is a great idea!

Thanks for the input!

My option contract is written where if he dosnt exercise the option he loses the option deposit but if he does buy the house the deposit applies toward purchase price.

Are you saying you would avoid the rent to own option all together?