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All Forum Posts by: Eddie Memphis

Eddie Memphis has started 3 posts and replied 158 times.

Post: Inheriting a tenant with a bad attitude

Eddie MemphisPosted
  • Investor
  • Englewood, CO
  • Posts 158
  • Votes 140

You really shouldn't have signed anything until you saw the lease. It may be for 846 years at $1 per month. 

That would be dumb. 

So is buying a property without reviewing ALL documents. If you aren't knowledgeable, find someone who is, BEFORE you sign.

Most leases allow renters to paint as long as they return it to the same condition when they move. If you tell him he can paint, he may try to get you to pay for it and him for his time.

Look at the lease first.

Post: This house has no takers

Eddie MemphisPosted
  • Investor
  • Englewood, CO
  • Posts 158
  • Votes 140

People that can only afford $575 are very unlikely to have their own refrigerator or dishwasher. 

Why $862? That is an unusual number for a security deposit.

Post: Put a lean on renter - partial payment

Eddie MemphisPosted
  • Investor
  • Englewood, CO
  • Posts 158
  • Votes 140

Nope. 

She will think by paying you the eviction will go away. Make her pay the way the court decides otherwise it may mess up the decision. 

Have zero contact with her.

Post: New BiggerPockets Employee!

Eddie MemphisPosted
  • Investor
  • Englewood, CO
  • Posts 158
  • Votes 140
Originally posted by @Joshua Dorkin:

We're excited to have @Katie Miller on the team . . . she is a rock star and is taking control of the BiggerPockets Library. Thanks for supporting her all!

 Are you sure she is on the level?

Do you own the property? If you have a mortgage you will need to contact the lender to see if they allow it. If you own it, you may be able to quitclaim and file the transfer but there can be problems there as well.

You need a lawyer. It is worth the money spent to have your questions answered specific to your location and situation.

Post: FHA question regarding HOPA and quadplexes

Eddie MemphisPosted
  • Investor
  • Englewood, CO
  • Posts 158
  • Votes 140

Senior living is usually local zoning. You need lawyer.

In order to qualify for the "housing for older persons" exemption, a facility or community must prove that its housing is:

  • Provided under any State or Federal program that HUD has determined to be specifically designed and operated to assist elderly persons (as defined in the State or Federal program); or

  • Intended for, and solely occupied by persons 62 years of age or older; or
  • Intended and operated for occupancy by persons 55 years of age or older.

Post: Closing tomorrow. One tenant with no lease.

Eddie MemphisPosted
  • Investor
  • Englewood, CO
  • Posts 158
  • Votes 140

Nope.

Post: Walmart Paint in Rental? Color Place Country White

Eddie MemphisPosted
  • Investor
  • Englewood, CO
  • Posts 158
  • Votes 140

Never used it.

Are you brushing, rolling or spraying? What color are you covering? Do you like to paint?

I really dislike painting and am not good at it. I use Sherwin Williams, whatever Tom* tells me to use. The less I have to paint the better. Cheap paint needs more coats. Some colors need three coats to cover regardless of the paint used.

*Tom is the manager at my local SW store. He gives me the sale price, even when the sale is over. If you are going to own multiple properties, go to a real paint store and develop a relationship with them. Their advice can save you money.

Post: Tenant Pay for Water/Sewer?

Eddie MemphisPosted
  • Investor
  • Englewood, CO
  • Posts 158
  • Votes 140

When you buy shoes, do they give you socks?

Why would you pay for someone else's utilities? You are renting to an adult. Expect them to behave like one.

Post: First eviction. Texas

Eddie MemphisPosted
  • Investor
  • Englewood, CO
  • Posts 158
  • Votes 140

If she is a pain in the *** and is leaving, why file for eviction? It's going to cost you time and money that could be better spent fixing the place up. The likelihood of collecting is slim.

You are out one month's rent and $270. I'm sure you would love to punish her for annoying you, but take it as a lesson on managing relationships and move on.