All Forum Posts by: Jason Taken

1) Get the judgment agreed to for an extended move out date  

2) if they have money, garnish as long as attorneys fees won’t consume 

3) if you own multiple properties might be worth hooking up with a collections agency (I’ve got a client with 100 doors — will be advising in this case)

In Illinois we’ve got an instrument called a TODI (transfer on death instrument) which avoids probate and having to create a trust for RE. 

You might want to see if your site had a similar instrument.

I’m currently probating a parcel of RE at the moment and the multiple title switches alone are a headache. 

@James R Dean if you have a decent credit profile could get you gapped on the down with no out of pocket (the down will cost more than the secured portion obviously).

DM me and I'll connect you.

I had a similar situation in a rental I owned. I included the cost into the rent. Some months you may be net positive, other months break even, and possibly even below. If you're worried about tenants "abusing" the utilities, put a clause in your lease regarding some buffer percentage that triggers an additional payment from the tenant. Another option would be to see if you can find a usage history, and apportion the rent accordingly between the units (again, by including it into each tenant's rent). It's probably better to just pad the rent knowing that you'll be net positive most of the time, and might dip below, for example, in the colder months or hotter months.

Just a thought.