All Forum Posts by: Dustin Beam
Dustin Beam has started 51 posts and replied 607 times.
Post: How much to offer in Cash for Keys in Bay Area?
- Kansas City, MO
- Posts 609
- Votes 321
Why not just ask them nicely to leave and see what they say. If they balk, then go from there.
Post: Process of buying fsbo property
- Kansas City, MO
- Posts 609
- Votes 321
in my limited experience, the title company has a contract, so that starts it. Just be sure you read and understand everything. Depending on your situation, make sure it has the right contingencies on there (inspections, financing approval, etc).
The bank and title company handled most of the rest when I bought that way.
Post: How to SAVE on ENERGY????
- Kansas City, MO
- Posts 609
- Votes 321
@Roy N., of course it's colder in Canada, I never said anything about that. The OP is from Maryland, I'm assuming the property is as well... and I stand by my original point. Actually I just checked, Baltimore Maryland is warmer than Kansas City.
Again discount the hundreds of projects I've ran heat loads on in the US if you want. But I have basis for my reasoning. If his property is somewhere with extreme temperatures, then it can change things.
Post: How to SAVE on ENERGY????
- Kansas City, MO
- Posts 609
- Votes 321
@Roy N., uninsulated walls for tight construction isn't negligible but you're not going to get your best bang for your buck getting them insulated vs other options.
There aren't too many places in the lower 48 that have dramatically colder design temperatures than KC. I'd have to verify, but I'd bet Maryland is within 5 degrees if not warmer. But besides my profession which I've ran heat load calcs for 5 years of, I have one more ace up my sleeve. My own home doesn't have wall insulation. My heating bills are not high at all.
Take it or leave it.
All that said, my money is on the tenants having it set to 76 degrees or warmer 24/7.
Post: Favorite rental payment method?
- Kansas City, MO
- Posts 609
- Votes 321
I just started w/ Cozy. I can't say yet about the receival of money, as my first payments through them will be in a couple weeks, but the setup was pretty painless on my end. They say it's a bit slow to get the money, but:
1. I don't intend to be living "month to month" on my rental income, so I intend to have plenty of reserves in my account.
2. My mortgage is due on the 9th so hopefully I have most of my money by then anyway.
The one thing I don't like about Cozy is that you can't set up a minimum payment. I may just be paranoid, but I'd be pretty mad if a tenant made a choice to screw me and pays $20 and I'm forced to wait another month to evict.
Post: How to SAVE on ENERGY????
- Kansas City, MO
- Posts 609
- Votes 321
I'm an engineer by trade and do HVAC design work. Granted, it's for commercial projects, but they aren't vastly different in principle.
Wall insulation, while you would always prefer, isn't that serious IF it's not a leaky house. Simply having the outside sealed and inside sealed with a 3.5" air gap is a reasonable insulation value for walls. All bets are off if it's a "loft" type where it's just a solid brick wall. Although those have some nice thermal mass properties.
Windows and ceilings usually account for about 1/2 of energy loss from a construction standpoint. So as @Joe Splitrock said, I'd check attic insulation only. Any non drafty double pane windows should suffice, although obviously LowE would be preferred. FYI, I used to work at a window factory in college and the owner once told me that Argon was a waste of money, only because according to him it's just a matter of time before it leaks out.
Thirdly, check the efficiency of the furnace. It shouldn't be too hard to find a 90%+ efficiency unit, and it's probably about time to replace if it's really old anyway. I dunno if the owner pays gas and maybe the tenant pays electricity, but putting in an electric furnace would be the best option should the utilities be split that way.
Post: Should I Evict?
- Kansas City, MO
- Posts 609
- Votes 321
Originally posted by @Yvette M.:
Didn't the previous owner send a letter to current tenants letting them know you were buying the property? You should have sent tenants a letter too outlining payment procedures. Do you have the tenant's application? Is there an emergency contact?
I don't know what the old owner did. I know that I posted a letter to every door or handed it to them in person when I took ownership. It stated all information they needed, including payment procedures.
I have the tenant application, but there is nobody listed as the emergency contact.
Post: Should I Evict?
- Kansas City, MO
- Posts 609
- Votes 321
Originally posted by @Nathan Seltzer:
Some of these posts are shocking in their brutality. It is obvious that the eviction process starts early and that a notice needs to be posted, but its also obvious that the OP is a new landlord and is trying to get a frame of reference.
@Dustin Beam Every problem that you will ever have as a Landlord is your fault. If an AC unit goes out, you should have the cash reserve to fix it. If the property isn't cashflowing well, you need to raise rent or cut expenses.
I never said I have a money issue, don't even know why you brought this up.
Don't act surprised or blame the post office for being incompetent. If the post office doesn't forward mail, then you should have contacted them sooner, or filled out the appropriate form, or verified the forwarding address.
I never said the post office forgot to forward the mail. Why did you assume that? It's a long story but the bottom line is that I opened a new PO Box, they gave me keys to a box, which they stated "does not currently have a lock, but the correct lock will be installed". So I show up on the first, key doesn't work. So that day, I call their national headquarters, and they say they'll let the local office know and they would be willing to add my girlfriend as a person able to pick up the mail (I work a regular job and cannot make it to that post office during working hours). Of course, none of that happened, 3 trips from my girlfriend later, 2 national headquarter phone calls later, 3 local office phone calls later, and 2 trips by me to the local office later, yes I got my keys. I'm not exactly sure what more I could have done.
Everything that happens badly could have been avoided, and your job is to learn from your mistake so that it doesn't happen next time.
In this situation with this tenant, the prudent course of action is to both start the eviction process and try to figure out what is going on. Those things are not mutually exclusive.
I stated in my OP that I was going to post the demand of rent letter, ie: starting the eviction process. Starting the eviction process was never my question. Considering I'm pretty sure she's out of town, my question was should I go all out in evicting her. Sure that takes time, but there's probably a "point of no return" where I either follow through or she moves out at the first opportunity because of bad blood.
As others have said, its very unlikely that she forgot or decided not to pay if she's been there for a long time. Its far more likely that she sent her rent check to the same place she's always sent it. She may have even prepaid the rent before going on vacation and the previous owner forgot or "forgot."
I contacted the previous owner and they don't have her rent. I understand they could be lying, but considering that would be easily proven theft, I doubt it.
But that doesn't matter as far as you're concerned. Start the eviction process and start your investigation if you want. Even if its just a big misunderstanding, you will solidify your seriousness in the minds of the tenants who see the rent demand and they will be less likely to try to push you around in the future. And from what I can tell of your post, it sounds like you will lean toward being a pushover, so it will benefit you to have a hardliner first impression.
I wouldn't sit at a poker table if I were you.
Mine in bold.
Post: Should I Evict?
- Kansas City, MO
- Posts 609
- Votes 321
@Aly W., that's good advice, but I'm 99% sure she hasn't skipped town. She has outdoor plants and such. Not to mention her porch light is ononSo I guess she hasn't turned her power off :) Still good advice
Post: Should I Evict?
- Kansas City, MO
- Posts 609
- Votes 321
Originally posted by @Nicole A.:
@Dustin Beam is $300 in late fees legal? Just because it's in a lease doesn't make it legal if it's not following local rental laws. I feel like a judge would quite possibly say that is ridiculous. In my opinion, it's much easier to just have a flat late fee because day-by-day is just more details for you to track.
Also, you mentioned you believe an attorney is required for evictions since you're a LLC...you should find out for sure if that is accurate. Sounds like you got some research to do so you're fully prepared for this situation and future situations. :-)
From what I've read online, Missouri does not have minimum fines for late fees. The $50/day was on the existing lease, so I didn't write it up. I'd agree I have reading to do.