All Forum Posts by: Jason Thomas

To all my rental property owners in the Tampa Bay area. I am looking for a solid property management company that has a good reputation, is very responsive, and handles issues professionally. I have been through several already so would like to hear from those folks that have had great experiences. Thank you!

Thanks guys, already tried speaking with her and being cordial, that is always my first approach, however, she thinks everyone is out to get her not matter what we try to say to her. All tenants have complained about her, this has been going on for some time now, I think it's more of a mental health issue that is getting worse. The other day, she told her dog to sic a little boy outside the complex, luckily the dog did not obey her command. Rent is being paid on time every month by her daughter who does not live with her. Property is in NJ. To top it all off, the courts in NJ have not even opened up, so even if we start the eviction process we may have to wait several months to actually get her out. 

Hello fellow BP members, I am in need of some urgent assistance and advice regarding a 5 unit complex I own that has one water meter that I pay. One of the tenants seems to be upset at the world and now causing numerous issues. Aside from yelling obscenities at the other tenants and having her dog defecate everywhere, she is now running her shower and faucets all day long and through the night. I know this because the other tenants have told me they hear the water running through the walls. There is no separate water valve to her unit that we can shut off or control. We even see the main water meter reading exponentially high on a daily basis. We can start the eviction process but by the time she is evicted (months) the water bill will be massive. Any help or guidance would be extremely appreciated. Can we call the authorities regarding something like this...property damage? Thank you!!

Thanks @Kenneth Garrett, how was your attic remediated? Did they just replace the drywalls?

I am looking at a quad(2 on top 2 on bottom) which is in a very good location and put an offer on the property. Upon the inspection there seems to be an active leak in the upstairs bathroom for quite sometime now which has been generating mold and it has been found in all 4 units in the bathroom walls. The rest of the property is find but I need to find out how much credit to ask for given the active leak and mold found. I realize the drywall and some ceilings will need to be completely replaced and remediated. Anyone have a rough idea of what that could cause or the best way to approach this issue? Thanks

Looking for advice/feedback on purchasing either a duplex or quadplex where both have almost identically the same cash on cash return percentage and income to expense ratio. Anything else to look at that I might need to consider to help make the decision more easier? Same condition, same area, same age of home.

I'll need to check on what the fees will be for the refi. I would be leaning more towards that option as well if the fees are reasonable with a low interest rate. Thanks!

Looking for guidance and insights from fellow BPs.

My primary residence is paid off, so what would be smarter...take out 300K to purchase in cash a couple duplexes via HELOC or Cash our Refi?? As I understand it, the HELOC is an ARM but it comes with no fees/closing costs, etc. However it can change with the Prime rates up or down. Looks like rates may be going down over the next few years. OR.. do the cash out refi on my home and get a low fixed rate for 15yrs, but that will come with closing costs. Anyone have experience with either/both?? Thanks

Yes, really depends but the main one is a general inspection. Roof, plumbing, electrical, sump pump, foundation, are some of the main things to watch for.

Prior to closing. You want to make sure you are per-qualified prior to identifying a property unless you are paying in cash. It gives you an idea on whether you can get a loan and for how much