All Forum Posts by: Jorge Soto

Kirsten Goble welcome to the bigger pockets community. I wish you the best of luck on your real estate career. 

@Stephen Bell I agree I do not want to start out on the wrong foot with my new tenants. 

@Fred Heller I agree. Being on a month to month makes it easy to vacate the unit if I am not happy with them.  

@John Hyatt Yes they are on a month to month lease. I guess if after a couple months I do not like them as a tenant (not paying the rent on time) I can always give them a 60 day notice to vacate. No I am not doing it as a way to make money. I just wanted to know more about their background since I didn't put them in the units. But I guess that's the risk you take when you inherit tenants. I will be putting them under my lease as soon as possible. Thank you for the reply.  

Hello BP community!

I am buying a triplex and both tenants are staying so my question is. Do you charge a tenant an application fee when you take over the property? This is my first investment property so I am not sure what is normal. Any advise on what you have done in the same situation.

@Stewart Guthrie Thank you for the advise. That is my first task when I get the keys is getting the tenants to sign my lease. A copy of the lease was handed to me during the closing process, but the owner had no inspection paper work. Also I just looked up Gary Links classes I will definitely be attending the next one. Thank you for that.

@Nicole A. You are right. I feel that the past landlord let him get away with a lot of things. Which is why the unit is a mess. I want to lay the ground rules and insure him that I am not the same way.

@David Hutson thanks for the advise. I will just keep them on a month to month. And yes the laws can cause issues if you don't know them. For that reason I printed the landlord and tenant laws for California and have started to review them.

@Gordon Cuffe I am hoping to get the keys by Friday. They are on a month to month lease. I hope they clean the unit before I have they sign my lease.

@David Hutson Thanks for the advise. I really do not want to keep this tenant, because I feel that they will not pay the security deposit. Honest it looked like the landlord had this guy a lot of breaks. An I feel if I come in and be firm and lay the ground rules. He made leave on this own. I may keep him for a couple of months while I save some money to rehab the unit. 

@Peter MacKercher For whatever reason the owner did not collect a security deposit for this tenant. Good advice I will have to include that in my lease. I plan on using my own lease. 

I appreciate the advice.  

Hello BP community. I just wanted to get your opinion/ advise on my current situation. This week I  will be closing on my first investment property. Its a three unit in Sacramento. I will be living in the front unit and managing it myself. One of the unit came with a security deposit that will be transferred to me at escrow. The back unit does not have a security deposit. Just to paint a picture of that unit its needs a lot of cleaning and the dog smell is terrible. My question is can I charge the tenant and security deposit even if the unit is in such terrible condition or should I give him a 30 notice to clean and get rid of that odor before I do my walk through? And if he does not clean up, give him a 30 notice to vacate. The tenants has been there for nine years too. 

@Arash Zandi no you do not pay the seller. The buyer will, once you assign the contract to the buyer. You are no longer doing business with the seller. The buyer will now continue to close on the property.   

@Sydni Chattman Welcome to the BiggerPocket community. My partner and I just started  a wholesaling business in the Sacramento area. We are always looking for good deal for flippers ans buy and hold investors. We are always looking to network and learn.