All Forum Posts by: Lana Lee

@Lana Lee 

his entrance door is not the same as my entrance.  He didn't have much from the beggining only cloths , TV . small bed, and a futton...   He may did it late at night because all that could've fit in a van.  Or since i'm rarely home he may did it in one scoup..   yes i have a copy of his social.  last rent was paid in August..  lease expires March 2019 

Sounds stressful but its not the end of the world so stay positive. 

@Andrew B. gave great advice. You need to 'take possession' right away. 

If you are tight on cash just educate yourself rather than get an attorney, and look into hiring a debt collector. Hopefully you have as much info as possible on the guy, but a debt collector will go after the tenant and only take a percentage of the money they collect, so it is a cost effective way to recover some of the money. 

You can definitely file for nonpayment of rent without an attorney and if the guy is really gone than you will win. With that, the judge can grant a judgement in the amount of money you are owed, and this will show up on any background check this guy ever gets for the next 10 years. So if he ever gets back on his feet and wants to finance a car or furniture, or a house, or he wants to rent another apartment, he will come crawling back to pay you so the judgement can be lifted. I have heard of people showing up YEARS later to pay back rent that they skipped town on. 

Stay positive and get that place re-rented.

I had a tenant that the lease was signed March 1st 2018 to 2019.  last time he paid rent was in August.  Come September been calling him in first week.  Then he calls that plans to leave because relocation of his job. We agreed to meet up that same day to duscuss his options for rental release lease. He never showed up..  Called his job a few days later and they gave me the run around.   I called again the following week and nothing..  Come October again nothing , no signs of him in the apatment his car never around. Then week 2 of October i opened the apartment and everything is gone ....What should i do ?  BTW is the Philadelphia area and it's a duplex . I live in 1 and rented the other one..  any suggestiones ?  i do have  a Owner -Occupied Housing License by the city of Philadelphia

Hi I’m new to the forum and posted before in another topic. 

We own a house and a lot in Philadelphia. Met with a realtor last week to discuss renting out the house and selling the lot. The realtor strongly suggested and encouraged to use the proceeds from the sale of the lot to start and buy houses that don’t need much work and flip them for a profit. 

I never considered this but became somewhat interested. 

The proceeds from the lot are expected to be $50k net. I asked ‘if I’m going to do this how will I do this with $50k?’ and won’t I be competing against others investors?’

She explained to me that my competition with be average Joes like myself not bonafied developers. She said with $50k to put down on a house is pretty good and / or take a portion of the $50k and use to fix up the house.

The house that we own she said is perfect for what she’s talking about  doesn’t need a ton of work just enough to flip cause it’s livable  

Then I asked ‘how is it possible to buy a house for a price to make a profit?’ She said there’s plenty out there and she will help’. 

My concerns were the risk. She said of all the things out there to make money flipping houses she feels is the best and she says not really much risk  

Can anyone shed some more light on this? Wasn’t expecting or considering doing this until she mentioned it. I’m kind of skeptical because since she said she could help of course there’s something in it for her which is commissions. 

Giving more info we are in Philadelphia Pa.

Thanks!

I have found a good deal in Philadelphia.  It is a single Family house that was separateed into two separate units with separate electric meters. It is still listed as a single-family house and it is zoned RSa-2. 

 I wanted to know if anybody had experience in rezoning a single-family house into a duplex in Philadelphia zone rsa-2 and how likely it is to be accepted.  

I have found a good deal in Philadelphia.  It is a single Family house that was separateed into two separate units with separate electric meters. It is still listed as a single-family house and it is zoned RSa-2. 

 I wanted to know if anybody had experience in rezoning a single-family house into a duplex in Philadelphia zone rsa-2 and how likely it is to be accepted.  

Thanks @Derrick Lumsden and @Russell Brazil ! I am just trying to get into the mentality of the the investors that I am working for and info or general concepts help.