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All Forum Posts by: Nancy Curran

Nancy Curran has started 9 posts and replied 279 times.

Post: low maintenance backyard landscaping ?

Nancy CurranPosted
  • Real Estate Investor
  • Chicago, IL
  • Posts 286
  • Votes 159

I put in a row of evergreens and then put down plastic and covered it with stones. Weeds still pop up but easy to pick or spray weed killer.

Post: Required to give Landlord's Name and home address in WI...

Nancy CurranPosted
  • Real Estate Investor
  • Chicago, IL
  • Posts 286
  • Votes 159

I am not found. People think they find me but they dont. Just use quickpay or a rent box and givr an old addresd.

Post: Late Rent Payment: How would you approach the situation?

Nancy CurranPosted
  • Real Estate Investor
  • Chicago, IL
  • Posts 286
  • Votes 159

In my lease, rent is due on the first and considered late on the 6th. If anybody is late at all, new or not, they MUST pay the late fee. Tenants talk to each other so you can't give anybody a break. So if someone is late, I send a text that says that "Rent is due on the first and it is the 6th so you are late. Please include the $50 late payment (or whatever it is) with your rent check.". I have always heard back from tenants with their excuses or apologies. If I didn't hear back within a day, I would deliver a 5 day notice.

Post: Analysis Paralysis on Buy & Holds...What is a good deal?

Nancy CurranPosted
  • Real Estate Investor
  • Chicago, IL
  • Posts 286
  • Votes 159

If the painter had to go to an advanced check place that evening instead of waiting until 9:00 am the next day, there is a problem there such as drugs or alcohol, etc. What else could he need the money for that late that couldn't wait until the next morning.

Post: Hotel/Condo investment

Nancy CurranPosted
  • Real Estate Investor
  • Chicago, IL
  • Posts 286
  • Votes 159

I was thinking about buying a condo in a hotel in Chicago. Wondering if anyone has experience with this and if so, do you have negative or positive experience to share?

Post: Ex Tenant Volunteers to pay damages - accept or sue?

Nancy CurranPosted
  • Real Estate Investor
  • Chicago, IL
  • Posts 286
  • Votes 159

I would not be in monthly contact with a drug dealer who owes you money. For all you know, people could follow him and think you are someone to worry/deal with. Drug dealers have a lot of cash. Obviously, he's an unsuccessful dealer if he's off to prison, but, nonetheless, he has cash. I would either ask for $1,000 a month to speed up your exit strategy with this guy, or settle on a one time cash payment of $3,000. (or $750 a month or settle on some other lump sum). I see more complications in your life the more you deal with this guy. Get out asap.

Post: Post-dated Rent Check Overdraft

Nancy CurranPosted
  • Real Estate Investor
  • Chicago, IL
  • Posts 286
  • Votes 159

When someone presents a check to you, it should be ready to be cashed. Post dated checks usually aren't honored and they should pass through. I will "hold" a check if a tenant requests for a few days but I don't look at every single date and wonder when I should cash it. That being said, I don't feel the need to give anything to the tenant. But, I may consider refunding $20 just to be nice and keep a smooth relationship.

Post: Insurance Forcing Water Heater Replacement

Nancy CurranPosted
  • Real Estate Investor
  • Chicago, IL
  • Posts 286
  • Votes 159

I was out in Santa Barbara for a Thanksgiving holiday two years ago. Got a call from a tenant who returned home from her Thanksgiving that her apartment was leaking from upstairs. Called my handyman to check it out and nobody was home upstairs. Had to break the lock to find that the water tank broke and was leaking all over the apartment, nobody was home to stop it. Leaked to the unit below and the unit below that causing $150k in damage. I had to quick drive down to LA and get an early flight back to Chicago to find out what the heck was going on. Had to hire emergency contractors who were complete morons and the whole thing ended up in court. Further, my insurance company dropped me, and nobody else would insure me except for ONE company that charged me quadruple the rate of what I usually paid. Um, change your water heater. :0

Post: Advise Needed About Tenant

Nancy CurranPosted
  • Real Estate Investor
  • Chicago, IL
  • Posts 286
  • Votes 159

Landlord/owner of record is almost Always responsible for water...if the tenant doesn't pay, the landlord must pay, no matter who's name it is in (as opposed to other utilities like electric).

Post: How Are You Holding Security Deposits?

Nancy CurranPosted
  • Real Estate Investor
  • Chicago, IL
  • Posts 286
  • Votes 159

No co mingling with personal accounts and must pay interest. It is what it is.