All Forum Posts by: Cameron Riley
Cameron Riley has started 90 posts and replied 527 times.
Post: DISCUSSUON: BUYING RENTALS IN ARKANSAS!!! READ!!!
- Rental Property Investor
- Phila, PA
- Posts 553
- Votes 118
@Randy Pulliam
I mean, it sounds like your happy overall
Post: Have you EVER sued section 8? Successful?
- Rental Property Investor
- Phila, PA
- Posts 553
- Votes 118
Originally posted by @Patti Robertson:
Originally posted by @Cameron Riley:
@Kyle J.
My understanding is, I was renting to a government entity, they are responsible for the damages to my home
You know how Landlords react when a tenant is unaware of their lease terms because they didn't bother to read the lease they signed? Well, you have have made the same grave error by signing a HAP agreement with HUD without reading it. You in no way rented to a government entity. Your lease was with the tenant, and the tenant alone. Both you and the tenant had separate contractual relationships with HUD. HUD was not responsible for screening your tenant, nor were they responsible to ensure the tenant paid you or abided by your lease. Had you notified the case worker of a tenant's lease violation that you had a court rule on in your favor, the housing authority would have told the tenant they could not have their voucher reissued to move without your permission. If you didn't take the tenant to court or didn't tell SEC 8 that you did, there is nothing they can do. If you evict a tenant and tell SEC 8 you did, the tenant will lose their voucher. You have to notify SEC 8 of these court orders BEFORE they reissue the voucher for it to do any good.
Chalk this up to a lesson learned. READ contracts BEFORE you sign them in the future,.
Patti this is what i have found
7. My property will be destroyed.
Again, with the extra layer of protection, it helps if your tenant does damage to the property. In the event the tenant does damage to the property, you can notify the tenant’s worker, and Section 8 will pay for the damages, and the tenant has to reimburse the worker.
The tenant can lose the voucher if they destroy the property and do not pay. So this is a benefit to the landlord to ensure the property is maintained. This extra layer of protection limits the possibility of litigation and losses due to damages. As with any rental, you should conduct a walk through with the tenant and document any defects.
Post: Have you EVER sued section 8? Successful?
- Rental Property Investor
- Phila, PA
- Posts 553
- Votes 118
Originally posted by @Kyle J.:
No reason to sue HUD. HUD didn't destroy your property. You'd need to go after the tenant, but if they're Section 8 there's probably nothing to get from them. Can't squeeze blood from a turnip.
I thought the government was responsible
Post: Have you EVER sued section 8? Successful?
- Rental Property Investor
- Phila, PA
- Posts 553
- Votes 118
Originally posted by @Patti Robertson:
Originally posted by @Cameron Riley:
@Kyle J.
My understanding is, I was renting to a government entity, they are responsible for the damages to my home
You know how Landlords react when a tenant is unaware of their lease terms because they didn't bother to read the lease they signed? Well, you have have made the same grave error by signing a HAP agreement with HUD without reading it. You in no way rented to a government entity. Your lease was with the tenant, and the tenant alone. Both you and the tenant had separate contractual relationships with HUD. HUD was not responsible for screening your tenant, nor were they responsible to ensure the tenant paid you or abided by your lease. Had you notified the case worker of a tenant's lease violation that you had a court rule on in your favor, the housing authority would have told the tenant they could not have their voucher reissued to move without your permission. If you didn't take the tenant to court or didn't tell SEC 8 that you did, there is nothing they can do. If you evict a tenant and tell SEC 8 you did, the tenant will lose their voucher. You have to notify SEC 8 of these court orders BEFORE they reissue the voucher for it to do any good.
Chalk this up to a lesson learned. READ contracts BEFORE you sign them in the future,.
- Literally, in the terms of the contract, it states HUD is responsible for any damages to the property, i think this was the MAIN reason we signed the contract. i guess i will RE-READ up on this.
- I think the tenants would be careful to do damage to my home as they are 100 percent at RISK to lose their VOUCHER.
- I am going to change all my 9 properties to section 8, i like it. i just want to know how i can best protect myself....
- Have you ever sued?
Post: Do you Ever Feel “ Landlords guilt “ Evicting Someone?
- Rental Property Investor
- Phila, PA
- Posts 553
- Votes 118
Originally posted by @Account Closed:
Originally posted by @Tim Rostro:
Oh man, I had to reply to this after talking with my property manager in Cleveland. My upstairs tenant, a single lady, is sooooo behind in rent. She still owes $2200 in back rent. We have been very patient with her for 6-8 months after her back surgery. She kept saying that she would pay the balance off piece meal which she did but it just wasn't enough. We gave her so much time to catch up. Basically, the downstairs tenant, Section 8, is paying off the mortgage of my property and I haven't received any income at all. So, we gave her a three day notice to vacate but she'll be out by the 30th Apr. She said she had nowhere to go but, again, she had her opportunities. I hate to do that to her but I'm in real estate to make money. There's a balance between profitability and being a responsible, compassionate landlord but I need to make money off this property. This is just my business philosophy. It's us (real estate investors/landlords) vs them (tenants) and I choose us.
If certain people had their way, you would be subsidizing their entire existence out of compassion for their poor life choices.
SAD REALITY!
Post: Do you Ever Feel “ Landlords guilt “ Evicting Someone?
- Rental Property Investor
- Phila, PA
- Posts 553
- Votes 118
Originally posted by @Louis W.:
Do the banks feel bad about forclosing your house because you don't have the rental income to pay the mortage?
NEVER!!
Post: Do you Ever Feel “ Landlords guilt “ Evicting Someone?
- Rental Property Investor
- Phila, PA
- Posts 553
- Votes 118
Originally posted by @Nathan Hall:
@Cameron Riley I think it is ok to feel empathy, compassion even. Don't give those qualities up on your path to wealth, financial freedom, or whatever your goal is. Stay respectful, but be firm. It's unfortunate, but don't let it become your misfortune.
Keep your investment foremost in your mind. Chances are you are doing it not just for yourself, but for your family as well.
Doing it strictly for financial freedom
goal is own 80 units by age 32
Post: Do you Ever Feel “ Landlords guilt “ Evicting Someone?
- Rental Property Investor
- Phila, PA
- Posts 553
- Votes 118
@Blaine B.
Was it a self eviction?
Post: Have you EVER sued section 8? Successful?
- Rental Property Investor
- Phila, PA
- Posts 553
- Votes 118
@Dennis M.
Exactly! Lose their VOUCHER!
Post: Have you EVER sued section 8? Successful?
- Rental Property Investor
- Phila, PA
- Posts 553
- Votes 118
@Kyle J.
My understanding is, I was renting to a government entity, they are responsible for the damages to my home