All Forum Posts by: Karl B.

Advantages:

1. No neighbor on that side = quiet

2. Nice view and a great place for a tenant to go for nice walks

3. The cemetery groundskeeper will likely keep the place nice and will pick up garbage along the street and entrance

Disadvantages:

1. Ground zero for the zombie apocalypse

Perhaps the seller doesn't want to remove the tenants and then have to deal with having an empty rental property in the event the closing doesn't go as planned. 

I dealt with a few drive-bys where I live in COMO. If you're going to keep the place and you already have security cameras....

-Contact the police and have a relationship with them. Tell them they can access your camera footage for anything and they'll also likely give you info. For instance, my tenant dealt with the officer who told us that these drive-bys were due to a renter's boyfriend who was doing shady things and so I....

-Contacted the property manager to the targeted property. Unfortunately, the PM was an idiot who only cared about the check and didn't do anything about it. The tenant finally moved (she was probably tired of her bf being targeted and the place getting shot up) and it has been quiet ever since, but I wish I would have been more responsive to somehow get them out quicker (such as speak with the owner of the property, which I didn't).

Had they not moved I would have looked into legal recourse against the PM company and the owner of the property (you would think the owner would have been tired of their house being shot up but apparently not). 

Definitely get the other neighbors involved. There's a reason some thug is shooting up a house and I'm assuming they're not shooting at your property on purpose but definitely speak with the police to learn more. 

Get an accountant right off the bat. And save each and every receipt and invoice so you can deduct. 

@Scott M.I had the same issue with HD last month. After the appliance arrived I called them and complained (I was told to do so by the CS guy I had spoken with when they called me to tell me of the delay) and they sent me a $150 electronic gift card on a $500-something dollar fridge. So definitely call the HD appliance delivery number after the delivery occurs and try to get some money back as it worked for me. 

To the OP - If they're simply being slow and it's apparent the PM isn't making things happen, find a new PM or if possible, self-manage. If you want to incentivize them I would say something like, "Being an agent, I know lots of property owners looking for a good PM. Take good care of me and I'll get you more business." 

Install a FreshAir sensor (or some comparable brand) in each unit. It's basically a marijuana smoke alarm. 

I told my mom I would be raising rents on a small portfolio of properties I bought in November and she said to me, "What if they all move out?"

I replied, "I wish. Then I can raise rents to market right off the bat." 

I post on Facebook Marketplace and in local Facebook property rental groups. 

In my main market Facebook Marketplace/local FB groups are by far the best places to post rental ads as the vast majority of potential renters simply use Facebook to find a place. 

Hopefully all the renters you have who were stolen from got a chance to see the thieves' inventory so they could try and claim their possessions. I would also contract the three renters you lost and show them that you caught the fools in hopes they return to rent from you. 

Sue the thieves and also sue them for loss of rents for the renters who left. Then get a lien against them and renew the liens when they are about to expire. Chances are they're broke but if they ever get an insurance settlement or their mom wills them a house and they sell you're first in line to get paid.

I'm glad you caught the thieves. You deserve their pickup for collateral. 

Easy. Check his or her Facebook account. You'll learn A LOT about a person by what they post on Facebook.