All Forum Posts by: Michael David

@Larry So I'm a former Lifestyles member. It is an education that they provide and access to vendors. If you already know what you are doing and you already have contacts in the business then joining isn't really going to provide you any material benefits. For us, going to Lifestyles and taking the classes provided the jump start we needed to get into the business of real estate investing. Del is a genuine person and he is providing a genuine service but his knowledge isn't new information that can't be found in books or on bigger pockets. Having said that, I've also not seen anyone else willing to share to the level of detail like he (or the people of Lifestyles) do. Membership for us was a rollercoaster to be sure, but as you all know Real Estate is a business and membership (whether it be in a local REIs or Lifestyles) is just like anything in life - you get out of it what you put into it. There is no silver bullet...time and effort are the keys to success.

Well, it's over. After a biased judge and 30 extra days the tenant is gone. Left without having to go through the Writ...Place was left empty and in tack. We really were fortunate. Other than a bad flea infestation in the garage (kept an "American Terrier" locked up all day in a cage at least one size too small) and feces in a toilet the place was as she lived in it. ...We called the contractor & exterminator and they were able to completed the rehab in 9 days (new floors (including tile), new paint, new doors & misc. odds and ends)!

New tenant signed the lease and moved in on the 1st! We still have some exterior work to do but the house is 10x better and our new tenant is so happy to be there...

Lots of lessons learned that will help us make better decisions on the next one!

We include a bed bug addendum with the lease, basically saying there are no bed bugs in there now and if they bring them in they are responsible for the cost of treatment...

Agreed...Make sure you are sending your selection criteria with the applications. I doubt you'll have an excessive number who actually show and submit checks...If by chance you do just pick the applicant(s) that are best qualified based on your criteria and return any that you didn't run.

Latest Upate:

Well, sadly, we filed for the eviction today for $121...The realtor and previous owner have fed the tenant false information (realtor hasn't even pulled the sign from the yard yet and we know he was there two days after closing). Worried that we are going to bear the brunt of the tenant's anger even though we tried to tell the tenant the truth about the situation.

Off to see the judge, the wonder judge of Oz...will update afterwards.

So, we closed today...Didn't get keys, didn't get the deposit, didn't get the tenant's info, but we got the house! I must be crazy...Seller's Agent has a good reputation for doing good business and we were told that he has the deposit check. I am trusting my agent's judgement on this...I hope we don't have to evict as I really don't want to ruin the tenants ability to qualify for Section 8 and of course incur the expenses. At the end of the day we have a really great family  pre-qualified and ready to move in and I want to keep my word that we've done our best to get her into this place. I'll update as this unfolds...

Awesome! I'm asking for it right now!

Clear, concise, great info...Thank you.

I failed to mention they are section 8...how does that change the dynamic?

About to close on a home with an existing tenant. They are month to month and I have the names on the lease but nothing else...A month ago we told them they will need to find a new place (as far was we know the seller did give notice) Looks like they aren't leaving, but are in violation of the lease (have pets when the lease specifically forbids pets).

1. I've asked for their specifics to be provided at closing but doubt he will provide them. Do I have any right to this info?

2. Since we have no lease and are closing on the last day of the month it feels like we are in legal limbo...what are our options?

3. I'd rather not have to but looks like eviction is likely...any advice?