All Forum Posts by: Josh Sicking

We currently use Tellus to manage our tenants. It is very helpful to us. I'm curious what everyone else's experiences have been with them. We tend to have issues updating leases through Tellus. It may be user error. Overall, I would give them a passing grade for resolving issues quickly and providing a good platform for communicating with tenants. 

As others have stated, I'm sure there is an amicable way of sorting out this trouble. Change the insurance carrier or change the electrical box. Federal Pacific Boxes are particularly hazardous. They are still being found to burn down houses. However, it does always leave a bad taste in your mouth when the seller says they are going to sue you. It is the kind of thing, where pride wants to say, I don't have to buy from you anyway, jerk. They get angry, you get angry, they threaten to sue, you threaten to sue. You will just make your lawyers rich. I do think if you can manage to thread a needle here and solve both of your issues you will be the bigger man and still end up with a cash-producing asset. In 15 years, would it have mattered to fight and lose a battle of an electrical box?

Nicole holds down a part-time w-2 that is work from home, and I handle the rental houses. Our side hustle is selling farm-fresh, farm-raised, free-roaming, chicken eggs. You are not going to save up a down payment with this hustle but it is still fun to sell eggs to people.

yes, see buildium and tellus for examples.

That has to be unnerving, hopefully, her contact information has not changed. If she is a single mom, she may be avoiding her ex and has changed her phone number or her email which could have been the contact information given to you when she was leaving him. I would hope that this particular possibility has been cleared. I would follow this up with questions. Take a note from Chris Voss's book, never split the difference and ask the question that always gets an answer. "Have you given up on.....?". In this case perhaps ask, "have you given up on continuing to rent XYZ location?" Perhaps those in the forum could more elegantly offer a question more suiting to your situation. This question lets her know that you are prepared to move on with or without her rent.  I have seen this question work magic with renters, aerospace suppliers, and children. The other possibility is someone not responding to your requests is because they have done your property wrong and are leaving you with a mess to clean up and have given up their deposit and moved on. The latter happened to me when I had my last turnover of tenants. As the lease was ending, they would not respond to me when I was inquiring about the lease termination. When I went to the property, it was trashed, the door left open, etc. They knew it, I knew it, and they had given up their deposit for the cleaning and repair of the property. I believe they just wanted to move on and not have to deal with it. 

Can the rent be raised to enable cash flow?  No one has mentioned it, yet. I like the idea of air BnB by the beach. I think that will end up being beneficial to your bottom line. Would it be possible there is a heavy personal connection to the property that is preventing the outright selling to cash out tax-free, as mentioned above, for another property or multiple properties?

@James Call thank you very much for your input. That is exactly what I have done. I suspect the damage wasn’t really that bad.

@Steven McLarty thank you for your advice. One deductible would be nice. I’m not sure mine does that. I hope so and will find out soon

We live and invest in north central Texas and just had a hail storm come through. Hail size was pea to quarter with some getting to golf ball size. Some of my rentals really could use a new roof and some have new or decent roofs on them. What is your experience in this kind of event? Replace them all and tag the insurance? Is there any strategy to be used? I’m looking for advice. Thanks in advance everyone!

Sorry I missed you, hope you come back through soon.