All Forum Posts by: Henry T.

I dont know the extant of damage here. Personally I would not have lowered the rent. I would not have delayed construction. All fixes would be done quickly.  Its an unfortunate situation, an act of nature. You both take your lumps. She suffers some inconvenience. You suffer large unexpected expenses. Nobody's fault.  You may somehow inform the uninitiated, (not necessarily in writing), that If you have to evict her, her future rental prospects are toast. The rent must be paid or leave. Then send official notice. Be careful texting.

Some will disparage, others will envy. Do what works for you. You'll be ok.

Two people spaced apart. Full hazmat attire with watertight work boots. Move slowly and carefully and watch for booby traps.

https://allthatsinteresting.com/collyer-brothers

Well, let's all hope the tenant is safe and has found new accomodations in a prison cell.

I personally would want it "as is" to decide for myself how to proceed. A builder can demo that house much cheaper than you could.

House very near me is same situation. Owners passed away, the kids (in 60's) haves friends staying in it for free. They wont sell because of sentimental value.  Weird. I'd sure like to see it developed, but it just sits and sits. It would sell as is for 1.5 mil, developed could be 5 mil.  I tell all the agents, but the nut has not been cracked. LOL

Quote from @Danny Gonzalez:

@Anthony Zotto

The key in situations like this is to focus on building a genuine relationship with the property owner. Sentimental value can be a significant barrier to selling, so creating a level of trust and understanding is crucial.

One strategy is to consistently follow up over time without being pushy. One of my best deals came from a seller who initially wasn’t ready to let go due to sentimental attachment (it was a 12 unit apartment deal that was purchased by her late husband). It took her 8 months to eventually feel comfortable selling, and by that point, she only wanted to work with me because of the rapport we built.

A quick 5-minute call every two weeks or so can be a good cadence. This gives them time and space while showing you’re committed and reliable when they’re ready to make a move. You’ll often find that people warm up to the idea of selling once they’ve built trust with you.

Good luck!  Remember, the FORTUNE IS IN THE FOLLOW UP. 

This does work. A friend of mine scored her dream home last month.  She is cool, likable, and cultivated the relationship slowly. They had a meeting of the minds. She got it for 30% below market. Total score. They weren't after money. They wanted it to go to the right person. 1.2 mil, and worth much more.

I'm surprised you can even ask a tenant to leave? In Seattle you would be stuck and not a dang thing you can do about it.

Since you appear to have the option, tell her she's gotta go. If she really likes the place so much, then invite her to re apply.

I would second what Malcomb is saying. totally oak those floors and vents.  For walls I spray with one of the various neutralizers for pet urine on the walls. after dry,  follow up with a vinegar solution. Then final with a PVA primer sealer.

On the flip side, I have a good friend who moved here from another state. His old residence out of state is pending, He will receive 400k+ in equity which he will put down on a new place in WA state, also pending. The WA state credit union where he wanted to establish himself with a checking/savings account refused to take him. 800 credit, federal worker, very reliable, but out of state ID. Refused!!

Meanwhile, I had a tenant that left two years ago. Minority guy. When he applied with me he had zero credit. There was no way I was gonna rent to him. He worked at the airport in the kitchen of one of those typical deli's, he did have 20k in savings. Anyway, he eventually won me over and I took a chance on him. You might say I did a good deed. This was not a good business decision, but I hoped I was doing the right thing. His mother had just died. Gut said ok take a chance, something I never do. Previous landlord review was positive. He worked out very well.

Anyway, the tenant, the reason he gave notice was because he was buying a house. I'm thinking what? How? He went into the same credit union, asked for a zero down loan to buy a house at $320k and got it. 2, 3 years later, the house is now worth $550k.

I was ecstatic and very happy for him, and excited that he's on his way in real estate.

My question is what the  F*&$%^ happened between these two? The one that should easily get a bank account couldn't. The one with no history, got an account, and a mortgage to boot!! What the heck is going on?

It's been a long time since I applied for a loan, and it was not easy.

Last time I went in for a new checking account the credit union fell all over themselves to get my business. Have things recently changed to where financial institutions have lost their minds?

Quote from @Bruce Woodruff:

Lol, I have a similar story but I got off easy....I had my guys digging footings for a remodel in a little SoCal beach town when we found bones - some good sized ones. I called the City and they sent the police over. Turned out these were animal bones but we had to shut down work for a couple days....you just never know do ya?

 Had me going, I thought you were gonna mention John Wayne Gacy!! Yikes!