All Forum Posts by: Kelly N.

@Ahmad Nassar  Glad to help.  We bought one like this- they claimed one apartment was a two bedroom in the hopes of getting a larger price, we've rented it as a one bedroom.  If you do buy it, study every detail- they are likely smearing some details somewhere else too.  In our case, the seller listed the rents but neglected to mention that he'd taken a hefty discount for prepayment on one apartment, and put a clause in each lease stating the rent would remain the same upon renewal.

Yes, I would buy a triplex from a slumlord, and fix it up to be a place we can be proud to rent out.  Not in this type of neighborhood, though.  

That's a one bedroom unit, and should be rented as such.

Hey Dan,

Do you have a text from her stating the end of April is her planned move out date?  If so, that's in writing, and she owes rent for April. 

Has she given you something in writing stating that she's vacated?  If so, get in there and get it ready to rent.  If you don't have a tenant lined up already, start advertising.  You are obligated to attempt to mitigate the damages by trying to find a tenant to move in and pay some of April's rent.  If you do, both rents will be prorated- new tenant pays for the days they occupy the apartment in April, old tenant pays for the rest of the month.

Use her deposit to cover any damages, then the rent she owes.  Send her an itemized list of deductions within 30 days to  her new address, if she didn't provide one send it to the apartment she was living in as her last known address.  If she owes more, send her a bill, but I doubt you will ever see it.  

Lastly, she sounds like a bit of a flake, and would have likely caused more issues remaining as a tenant than she has leaving like this, so be happy to have her out.

We were under contract to purchase a distressed property which we have plans to renovate and rent out.  The seller asked for one 2 week extension on the timing to clear a lien, which expired 3/15.  On 3/25, the seller provided our realtor with a list from the title insurance company of requirements, which include:

5.   Cause to be recorded an Order expunging the Order and Judgement of Foreclosure recorder in Liber XXX, Page XXX, XXX County Records, as to the subject property"  

Line items 6-9 say the same thing, just different numbers.  I am assuming that here they have to prove to the county that they paid the delinquent taxes for whatever year that record calls out and get the record to reflect that.

13. Record a proper Certificate of Redemption from judgement of forfeiture or real property for non-payment of property tax for the year(s) 2016, as recorded at Liber XXX, Page XXX.

14.  Record a Satisfaction or Release of that certain judgement

Plaintiff: Midland Funding LLC

Defendant:  (Seller)

Principal Amount: $XXXXX

etc.

15. Payment of taxes for 2016 

The seller hasn't paid taxes on time since at least 1997, so I am guessing items 5-9 are just that they have to get the record to say they did eventually pay the taxes.  I don't understand why they are listing 2016's taxes only, if they hadn't paid 2017 and 2018 I would think those would be listed too, and if they had wouldn't those funds be applied to the older tax bill?

The seller does not seem to be motivated to get the title clear so we can proceed.  Our realtor says we should just wait, and when they eventually get the work done we will renegotiate the price.  Is there anything we can do but wait at this point?

My realtor says "I open doors.  That's my job- you want to look at a property, I open the door."

He's a great one, and does so much more than that.  He's got our back in every negotiation, no matter what, whether he agrees or not with our path.  He's helped us find great contacts to work with as well.

You need to get landlord policies in place.  The cost will likely be about the same or less, but the coverage is different when it isn't owner occupied.  There may be some restrictions- for instance I can use a fireplace in my own home, but the the same insurance company won't insure us if a tenant is using the fireplace.  They are going to cover the property ONLY and not the contents (except fixtures and appliances belonging to you).

We have one.  We don't use it often, when we do the clean up and prep involved takes almost as much time as you save in painting, BUT we are generally painting things that go pretty quick anyways (touch ups between tenants, not full reno jobs) and I have gotten fast with a roller.

That being said, the times when we will use it will probably apply more to you.  It is a huge time saver when several coats are needed (fresh drywall) or in basements when painting rough walls and joists.

We had someone else paint the exteriors two of our houses (he's lead certified), and he used a sprayer like ours on the body of the house, then a brush for the trim and touch up work.  

@Jay Hinrichs- the property is in Michigan.  When I asked why the wire was going to California, he claimed that was their trust account at the head office.  I asked if we were still closing locally, and where, and he gave me the name of a local title agency.   He must have pulled the name from a previous e mail from my realtor- it is one we have used before, but it has either moved or closed since we were last there (4-6 years ago).  

To someone that doesn't deal with this stuff every day, it sounded hurried.

The guy is still e mailing me, asking me to confirm that I wired the money to the right account.  I told him to give me the title company's direct phone number and a contact, so now I have a name (Dave) and what appears to be a Delaware cell number...