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All Forum Posts by: James DeRoest

James DeRoest has started 5 posts and replied 926 times.

Post: Late Rent from tenant

James DeRoestPosted
  • Investor
  • Century, FL
  • Posts 950
  • Votes 603
Originally posted by @Brian Simmonds:

One of my tenants ask to pay her rent late because of a death in her family. How can I sympathize with her and also be stern about paying on time. How should I say it without coming off inconsiderate? Please advise.

Got that same call today, which is strange. Mother has died (which reminds me, must pop her a message), could she pay rent in 2 week installments for a bit. Sure, no problem. They've had some personal issues in the last year so haven't been great about paying by the 5th, but they've kept up with us, they don't avoid us, the house is immaculate and they are largely up to date on rent. (Plus on a personal level, I am fully behind their personal issues as I think it'll make a massive improvement to their life.)

I'm not going broke over this, they are a great tenant, of course I'll cut them slack.

I think it's a personal decision whether to stand behind your tenant with or without a large knife.

Post: Best Flooring for Rentals

James DeRoestPosted
  • Investor
  • Century, FL
  • Posts 950
  • Votes 603

Depends on the subfloor and it's condition.

If I have a hardwood floor, I'll refinish it.

If I have a wrecked hardwood floor that I can't bring back, then it's a stick together floating vinyl floor (EC Lock - not easy to find). Lays really fast, practically indestructible. Only thing that kills it is cat piss.

If the house is on a concrete pad then I'm more likely to go for a tile floor.

Never ever carpet, in by the foot, out by the pound.

Originally posted by @Alex Franks:

Steve I would  not do anything before I get inspection. I'm not as smart as the none scared guy above( james ). Again things like this can cost nothing to fix or be very expensive depending on what they find. Just keep in mind as investors it is our job to provide good solid homes. Just my two cents..

Wish I was as smart as

@James DeRoest LOL still laughing

Alex

 What is the problem Alex? You get under the house, you level it up. If you find something awful like termite damage, etc, you repair it. 

Why the sneering Alex? Why are you pretending this is a big 'scary' job when it's not? Why the personal insults from someone who has never done this, or if they did, seems to think it's a huge job?

Post: Unbelievable Water Bill- Detroit

James DeRoestPosted
  • Investor
  • Century, FL
  • Posts 950
  • Votes 603

Do you guys not have a water company that turns off the water when its unpaid? If the tenant the turns it on themselves, the water meter is removed within 24 hours.

And then the landlord gets a citation from the local council as you must have water and trash to a property?

Obviously you don't....but dayam.

Post: How many properties do you self-manage??

James DeRoestPosted
  • Investor
  • Century, FL
  • Posts 950
  • Votes 603
Originally posted by @David Zheng:


I've seen some do up to 20 units by themselves!

A lot more than that.

It's easy. Don't rent crap, that way you don't get many service calls.

When you do get a service call, decide whether it's something you can do, or whether you need to arrange your handyman, your appliance repair guy, AC guy, plumber or electrician. Pick your battles.

I won't even get involved in the call out, I'll pass the tenant number to my contractor and they will make a suitable time for an appointment. If no appointment can be agreed on, then I will attend the property whilst the contractor is onsite. As much as I have some great people I can call on that I do trust, I still have a responsibility to the tenant to keep their stuff safe.

Originally posted by @Alex Franks:
Originally posted by @Steve R.:

Hi BP! I have been going back and forth over this issue.

I am currently looking at a 3/2 SFR in a decent neighborhood that that I can pick up very cheap but it has sloping floors. It sits on post and piers with a crawl space. The house has been there a long time and I don't think it will move much any more. I can purchase and do a light rehab for 20k but I would not be fixing the sloping floors besides trying to jack up here and there in the crawl space. I should be able to rent it for 650-700 a month which would generate around 375-400 in cash flow or I could sell it right away contract for deed without putting much into it for 30K.

What do you guys think? 

There is a reason no one is buying it. Run it sounds like a money pit and if you are not going to fix things 100 % correctly you should not be buying homes. It actually burns me up a bit when folks say they wont fix things correctly but will rent it out. Would you live in a subpar house and expect to pay rent. We as invetors nee dto have the mind set fix it correctly the first time.

Sorry this is some thing that just frustrates me when  I see half *** rehabs and folks wonder why things don't work out.

Alex

 ?? You just work out where the house isn't level, get underneath with a car jack (literally), and make the adjustments, and put in new piers.

It's really not that big of a job, nor is it that difficult to do. And it doesn't take much money either.

This is exactly the type of house investors, who know anything about rehabbing, should buy. You buy with a ridiculously good discount because people like you are scared away, you fix it's underlying "scary" issue, and you make a handsome profit.

And what exactly do you think a professional company does if they straighten up the floors - they get underneath with a slightly more fancy car jack and do EXACTLY the same thing - but with a stinging invoice.

Originally posted by @Joel Owens:

People depend too much on the cops. The reality of most assaults and incidents is by the time they get there the event has already passed or is at the tail end of things.

That should tell people you need to learn how to defend yourself and survive.

I think you're going to a tenant house with the wrong attitude. You're not looking for a fight, you're looking for rent. "Have you got rent?" "No". That really is as far as the conversation needs to go. You aren't there to get into fisticuffs with anyone, just see if your rent is ready.

And although I carry in some circumstances, eg going to Walmart, but what is the gun really for if it comes out? It's a deterrent. You don't need to hit s**t with it, but it's there not to escalate a situation. And in most cases, its presence will stop things escalating.

But why should collecting rent escalate? They have rent or they don't. If they don't, walk away. They aren't suddenly going to pay because you make a convincing argument.

To the guys who won't follow through with the final part of the eviction process, you have serious psychological issues about confrontation.

You have an order for eviction, you follow it through. Letting people go so you can have your late fees, wth? 

When you have to go down the route of eviction, it's not that you've not been paid, it's that you are unable to take control of your asset. This is much more important than the missing rent.

If you want the money, simply get a judgement and follow that through.

But for heavens sake, when a tenant is holding your asset to ransom, move the idiots on. Why do you persist in keeping bad tenants in your houses? 

Wouldn't you have a nicer time if tenants paid rent on time, and didn't have to be sued every rent day?

Hmm, good to know, thinking my watermark will be our telephone number right across the middle. (We have a temp number for ads).

Originally posted by @Mike H.:

I would take another tack. Let her pay for your legal fees, back rent, and late fees and add another $500 towards a security deposit given where she's at.

If she pays it, then I'd keep them. It basically pushes off your turnover for a period of time and if she tries it the next time, you'll end up $500 ahead.

I'm all about pushing off turnover as far ahead as possible. They might have put your through some effort but I still believe its better to push it off as far into the future as possible.

If you boot em, you're going to be out the missing rent and have to pay the legal fees and the turnover costs (make ready painting and repairs).  Why not push those expenses out forward?

 She's not looking to pay though, she's looking to string him along a bit longer with a "I can pay on Monday next week" etc. She has zero intention of paying anything.