All Forum Posts by: Javier Perez

Hi, 

This is more of an opinion question I guess. Currently, I do the following for my tenants:

1. Send out a notice on the 1st of the month as a reminder that rent is due.

2. If payment is not received. 24 hours before the grace period hits (the 5th of the month) I send out another notice advising that a late fee will be assessed if payment is not received by the 5th.

***I've never had to go past this point.***

The following step I would take is sending the official "Late notice" with the late fee accessed on the total.

At this point how long do you give the tenants before you send it over to your attorney and start the eviction process?? Or at least how long do you tell the tenant that they have before this process starts?

Like "If payment is not received with X days legal action will be take" 

Thank you everyone...

Thank you.

I had advised they take it to an attorney just to be sure. However, I thought it was just something that the attorney wrote so that when they received the filed document back in the mail they had a reference of whos it was and can mail it to said person (Grantee). Obviously, they left the wrong name from a previous deed they used as a template. At least those were my thoughts.

Would that make sense?

They were just concerned that since the name of the person was listed there it would have some legal issues later down the road.
  

Hi Everyone,

 I have a question that was brought to me by a friend. They were looking over documents for their father. He's elderly.  They noticed that recently their father had Quit Claim Deeded his property to include his current wife to their home. Which is perfectly normal.

Just like a regular deed throughout the main part of the deed, it references him as the "grantor" and then him and his wife as the "grantee". WHich again is normal. However at the top left of the form under the "Prepared by and Return to" section after their lawyer information is listed it states "Grantee Name: (Random Name of person they don't know)". Nowhere else on the main body of the form is that name listed. 

Their obvious concern is that someone tried to con them into signing the property over to them somehow. Has any ever seen this before?

Thank you everyone. I appreciate all the feed back. Yeah, just must be bad luck that it's all happening at once.

Yea. I did it through a realtor and we checked them in and out. Everything was working when I checked before they moved in. The appliances weren't dated but not new either. I know it's probably just bad luck that it's come one after the other. I was just curious if others had similar issues in the past.

Hi Everyone, So I have a question. I'm new at this. Just had my first tenants move into a property on Nov 1. They seem like very nice people up to this point. So here is my question. Since they have moved in: 1. Stove stopped working. Had to replace. 2. Dishwasher stopped working had to replace. 3. Now there is a leak in one of the sinks. 4. AC is acting up. Is this just bad luck? At what point do you start asking yourself if the tenants are cause or mistreating the equipment. And is there really anything I can do about it? I'm not blaming anyone cause I know these things can happen. But in less than 30 days. Jezzz.

Hi, I'm looking for recommendations for a handyman that can service the Miami FL area?

Thank you guys. You did clarify somethings for me that I was getting confused on... Awesome info... :)

Thank you guys for all the info... I was talking more about just purchasing the property itself not so much the rehab.  The main discussion I was having with my spouse was, she says that when financing the property upfront the sellers usually cover the closing where if we finance the house after we already own it to get equity from it we would have to pay for that expense ourselves. 

I just thought going with the financing after we get tenants in there would help us in the approval process as we can show the bank we have tenants there paying on a lease. 

@Caleb Jordan Yea my thoughts were that financing the property without rental will restrict us. We would use our normal income job income. So I thought buying cash and getting rental history under my belt then pulling a loan on the property. I thought that the banks seeing that rental history would make the loan process easier or at least a better chance of getting approved.