All Forum Posts by: Jeyo Punnakottil

@Nadir M. Ask her to give you a Cashiers check for all pre move in money( security deposit,Pet fee,1st month rent etc) .If she is legit she will get a cashiers check to you.Otherwise she will find excuses and say she needs to sort it with apartments.com

If she already moved in and signed the lease ,depending on the state your only option is eviction.

@Nadir M. NEVER NEVER NEVER USE A THIRD PART SERVICER TO COLLECT SECURITY DEPOSIT AND 1ST MONTHS RENT BEFORE MOVE IN.I always use Cashiers check or money order for the security deposit,pet deposit and 1st months rent NO EXCUSE,Period.If tenant cannot do that well i am moving away.Until the security deposit clears in my bank account i donot hand over the keys how frustrated the tenant is.Another key thing ,the more pushy the tenant is in getting the place the more shady the tenant is and i will always double think @ that point.

Any recommendations for a real estate attorney In Houston area.I need to file an evicion.Never done an eviction before.

Finally we have a meet up in pearland area.Great and looking forward to meet like minded ppl .

@Nathan G. Thanks ,this is what i wanted to hear just so i could keep away BEING HUMAN factor out of me atleast with this tenant😁

I am kind of panicking because this property  was a full fledged flip project put (80k of rehab) and because luck was not on my side when i put it on market in March 2020(Covid 2020 Hit).I was on a hard money interest only loan with 12 % interest and refinanced into a 30yr fixed loan with 3 yr prepayment penalty (crappy conventional loan). I had to make it in to a rental to the best qualified person .(He wanted to buy + was brining in 80k from sale of his primary home )Here we go again, fast forward 2 yrs and when his lease ends in June 2022 LADY FORTUNA is not waving her wand at me again, Interest rates are at 5.5 for 30 yr with feds probably doing another 75 basis point hike in June and July.  To add to this the property is not cashflow a penny. Increasing rents are being eaten up by increased ppty taxes .LOL......The good thing is I gained some equity. 

 Is there any website or forums about this .I am trying to see if i the bank will charge a  monhtly fee to set an ACH draft 

Is there a way to autodraft monthly payments from tenants bank account if tenant agrees??

@Nathan G. he is not a single dad.His wife works too.Bfore signing the lease with us right in June 2020 in a letter Why we should consider him he said He is selleing his house in washington and will be bringing in 80k need for downpayment .At the end of 1 yr lease he says he wants to rent 1 more yr before buying the house,ie why we renewd for 1 more yr .During a quaterly inspection some time this year i noticed he bought a brand new 80k worth truck.Thats his thing .But now he says he cannot find financing,no banks are lending to him.We gave him an owner finace option.

Sale price 340k With 15% down and 8% intrest. With a refinaceto us off in 1 yr

This was when mortgage intrest rate was in 3.25% for 30 yr . He mentioned our intrest is steep and he could get cheaper interest with less down payment with conventional financing. He said he only have 5k for downpayment and to work something out .We are not taking anything less than 15% down . Now fast forward 5 months he cannot secure finacing.We recommend our prefered lender and lender asked him to submit his wifes docs which he never did.We have been reminding him 60 days ahead to secure financing and to get into a written contract with us.We send him a non renewal of lease letter 60 days prior .He took it lightly.Today i send him a notice to vacate and a cure or leave letter for extra dogs that i noticed in registered mail .He texted me saying he is really intrested in buying the house and open for our owner finance with low down payment as he donot gave any money. There is no way i am owner financing to someone who puts only 3.5% down.

@Dell J. Hope there was a misscommunication.He did pay rent for the past 23 months.His lease ends in 1 month.He hasnot paid rent for this month .He was not always on time .But paid rent everymonth with late fee when we send him missing rent emails & texts.