All Forum Posts by: Jack B.

EIGHT months into tenancy, these 19 year old kids (winter tenant, hard to find tenants during the winter and they checked the boxes for credit and income) had complaints from neighbors about loud music, trashed part of the carpet, over grown lawn, unpaid water bills, and now their friend took apart the drain of a sink in the bathroom to try to fix a clog and mucked it up putting it back together. They even admitted yesterday when I was there their friend did this. 

These are all violations of their lease, the first few I already addressed with them a few months ago but now the plumbing and they are arguing with me about splitting a $200 bill for sink drain repair, I'm paying for the snake, they should be paying for the drain they mucked up. They are trying to claim as the landlord it is my responsibility to pay for repairs. The lease I showed them clearly states they are responsible for damages of things they do. 

Best way to get them out in this eviction environment? I know the loophole is 60 day notice to move in or sell in WA, but can I serve them a notice to comply or vacate still since these are lease violation related not due to unpaid rent from COVID? THey have been paying on time...

I want to end this nonsense before they gravely damage the place. 

Update: after 8 million texts of them making up lease terms and threatening to get a family attorney involved, they are backing down. 

Attorney I hired said I have grounds to evict under national and WA law despite moratoriums. Tenant is nuts claiming I'm responsible per the lease to repair their damage and now backing down saying their lease is up in april lol. I was like, the three sections I sent you show you are responsible for damages YOU caused. Your lease is month to month, not up in April. lol. She is now saying they will have their friend pay it. 

They went back and forth about how it's not their fault, etc. They and the plumber told me their friend took the drain apart and siliconed it back instead of using washers that are rubber. They now try to claim all he did was take it apart and put it back together, no silicone. I'm like, how did the fresh silicone get on there then lol. I have inspection report from when I bought the house that did not show this sink as a code violation and the plumber said it is, and they told me he did it yesterday. All of a sudden when I push the issue and laugh about it, they back down.

Thing is, they have a serious attitude all of a sudden. I don't want to deal with them anymore. Should I move forward with the notice and subsequent eviction filing or ride them out until winter is over?

" style="-webkit-font-smoothing: antialiased; margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 1rem; line-height: 22px; font-family: inherit; vertical-align: baseline; position: relative; overflow: hidden; height: 1095px;">

WASHINGTON STATE:

EIGHT months into tenancy, these 19 year old kids (winter tenant, hard to find tenants during the winter and they checked the boxes for credit and income) had complaints from neighbors about loud music, trashed part of the carpet, over grown lawn, unpaid water bills, and now their friend took apart the drain of a sink in the bathroom to try to fix a clog and mucked it up putting it back together. They even admitted yesterday when I was there their friend did this.

These are all violations of their lease, the first few I already addressed with them a few months ago but now the plumbing and they are arguing with me about splitting a $200 bill for sink drain repair, I'm paying for the snake, they should be paying for the drain they mucked up. They are trying to claim as the landlord it is my responsibility to pay for repairs. The lease I showed them clearly states they are responsible for damages of things they do.

Best way to get them out in this eviction environment? I know the loophole is 60 day notice to move in or sell in WA, but can I serve them a notice to comply or vacate still since these are lease violation related not due to unpaid rent from COVID? THey have been paying on time...

I want to end this nonsense before they gravely damage the place.

Update: after 8 million texts of them making up lease terms and threatening to get a family attorney involved, they are backing down.

Attorney I hired said I have grounds to evict under national and WA law despite moratoriums. Tenant is nuts claiming I'm responsible per the lease to repair their damage and now backing down saying their lease is up in april lol. I was like, the three sections I sent you show you are responsible for damages YOU caused. Your lease is month to month, not up in April. lol. She is now saying they will have their friend pay it.

They went back and forth about how it's not their fault, etc. They and the plumber told me their friend took the drain apart and siliconed it back instead of using washers that are rubber. They now try to claim all he did was take it apart and put it back together, no silicone. I'm like, how did the fresh silicone get on there then lol. I have inspection report from when I bought the house that did not show this sink as a code violation and the plumber said it is, and they told me he did it yesterday. All of a sudden when I push the issue and laugh about it, they back down.

Thing is, they have a serious attitude all of a sudden. I don't want to deal with them anymore. Should I move forward with the notice and subsequent eviction filing or ride them out until winter is over?

WASHINGTON STATE:

EIGHT months into tenancy, these 19 year old kids (winter tenant, hard to find tenants during the winter and they checked the boxes for credit and income) had complaints from neighbors about loud music, trashed part of the carpet, over grown lawn, unpaid water bills, and now their friend took apart the drain of a sink in the bathroom to try to fix a clog and mucked it up putting it back together. They even admitted yesterday when I was there their friend did this. 

These are all violations of their lease, the first few I already addressed with them a few months ago but now the plumbing and they are arguing with me about splitting a $200 bill for sink drain repair, I'm paying for the snake, they should be paying for the drain they mucked up. They are trying to claim as the landlord it is my responsibility to pay for repairs. The lease I showed them clearly states they are responsible for damages of things they do. 

Best way to get them out in this eviction environment? I know the loophole is 60 day notice to move in or sell in WA, but can I serve them a notice to comply or vacate still since these are lease violation related not due to unpaid rent from COVID? THey have been paying on time...

I want to end this nonsense before they gravely damage the place. 

Update: after 8 million texts of them making up lease terms and threatening to get a family attorney involved, they are backing down. 

Attorney I hired said I have grounds to evict under national and WA law despite moratoriums. Tenant is nuts claiming I'm responsible per the lease to repair their damage and now backing down saying their lease is up in april lol. I was like, the three sections I sent you show you are responsible for damages YOU caused. Your lease is month to month, not up in April. lol. She is now saying they will have their friend pay it. 

They went back and forth about how it's not their fault, etc. They and the plumber told me their friend took the drain apart and siliconed it back instead of using washers that are rubber. They now try to claim all he did was take it apart and put it back together, no silicone. I'm like, how did the fresh silicone get on there then lol. I have inspection report from when I bought the house that did not show this sink as a code violation and the plumber said it is, and they told me he did it yesterday. All of a sudden when I push the issue and laugh about it, they back down.

Thing is, they have a serious attitude all of a sudden. I don't want to deal with them anymore. Should I move forward with the notice and subsequent eviction filing or ride them out until winter is over?

 I was hoping to avoid portfolio lenders since they likely have a demand clause. The thing I like about conventional loans (up to 10) is that there is no demand clause. They can only call the note if you default.

What about regular but smaller banks? How common is this? I read of guy who does this with apartment complexes in SanDiego years ago. He said he found smaller banks willing, seeing what he was doing, etc.

 Simply amazing, and here I read that ABNB and VRBO were all but dead due to the pandemic!

Is it possible to cash out refinance rentals and purchase new rentals with the money using just the rental income from your tax returns to qualify? I know a lot of banks want W2 income but I was wondering if there is a way to find smaller banks to lend like this. I plan on doing this in retirement when I no longer have W2 income.

 This. Anytime a tenant acts like they are in charge and a decision maker I put them in their place ON THE SPOT. Had some numb nuts try to deny me entry for a tour of a new tenant after they gave notice. He then said he would be naked if I come. I told him he would be arrested for indecent exposure, and that he doesn't get to decide whether I can come to MY house, as stated in the lease and state law that is CITED in the lease that says they have to allow me entry and cooperate with me. They cooperated....And I think they learned an important lesson about who is in charge that will help with their attitude with future landlords.

I have a lock at 3.625% for four rentals that expires October 9th...

Rates are now down to 3.12% with the lender. The offered me a 2K concession for them which I took, but I'm wondering....what if I just delay this somehow until the lock expires? It's about 5K extra payments each year TOTAL for all of them combined at the higher rate...

Or I could sell the rentals in a year or two as they come up for major cap ex...something I had considered doing anyways....

I plan on using the refinance money to buy more rentals so I'll get the lower rate for the 4 new rentals I'll buy, and if I sell the rentals next year anyways I'll get a lower rate as well repurchasing. I'm cash out refinancing so that I don't have to be subject to 1031 exchange timelines for all my new purchases, it would be tough to find 8 new rentals selling 4, in the tight timeline of 45 days. I can buy 4 with the cash out money, rent them out, then sell the other and buy 4 new ones.

I have a lock at 3.625% for four rentals that expires October 9th...

Rates are now down to 3.12% with the lender. The offered me a 2K concession for them which I took, but I'm wondering....what if I just delay this somehow until the lock expires? It's about 5K extra payments each year TOTAL for all of them combined at the higher rate...

Or I could sell the rentals in a year or two as they come up for major cap ex...something I had considered doing anyways....

I plan on using the refinance money to buy more rentals so I'll get the lower rate for the 4 new rentals I'll buy, and if I sell the rentals next year anyways I'll get a lower rate as well repurchasing. I'm cash out refinancing so that I don't have to be subject to 1031 exchange timelines for all my new purchases, it would be tough to find 8 new rentals selling 4, in the tight timeline of 45 days. I can buy 4 with the cash out money, rent them out, then sell the other and buy 4 new ones.

It usually takes me 6-12 months to find a steal. I bought a lake house with a complete MIL apartment on the FIRST floor in great condition under market value thanks to Covid! It has gone up 40K in 5 months! The other rentals, half of them (2) made me 300K after refinance with 75% LTV. The others made me 200 and 250K each after 6 and 7 years. I'm not tapping all of it, just 500k and sitting on about 800K in reserves.

I also prefer buying late winter as there are still depressed prices but by the time I close spring is in the air and tenants are easier to find. Also I'll be spacing the purchases out. Right now I'm loading up on more appreciating assets. Once they fatten up in 3-5 years, I cash out again, put the money into cash paid rentals where I'm moving to, keep these ones here to keep growing money like crazy and repeat. I should also have around 1 mil to put into income paying index funds with dividends to boot.

I'll have to shop for a lender that will cash out refi without W2 income at that point, but I have read others posts that have found smaller banks that do that.

 I don't think his strategy for eviction is taking into account federal restrictions either. Not well researched or planned...