All Forum Posts by: Lauren Robinson

Thank you for responding.  Yes.  I had a property management company, which I had to fire.  The tenant ran circles around the old manager.  I hired a new manager and we finally got an eviction through.  The property is located in Philadelphia, PA.  It was updated in 2019 (New kitchen- shaker cabinets, stainless appliance, granite, new toilet, and vanity in the bathrooms).  It was renting for $1325.    

Hi BP Community,
I have been in a 2 year battle with an experienced squatter tenant that knows how to work the system.  I have finally gotten a court date to get back possession of my property on March 15th, 2022.  I have lost a lot of money on this property (around 8K) and need to try to regain ground on my losses. Any suggestions from experienced landlords on how to recover after a bad tenant sets you way back?  or any upgrades for under $1000 that will allow me to raise the rent?    

Quote from @Emily Weaver:

First time landlord here - Our lease is up on March 1 and I had sent notices to our tenant  at the beginning of December to notify him of rental increases as well as lease renewals (or not).  I had not heard from him and the deadline was set to December 31, 2021.  I had texted a few times and finally today received word that our tenant is choosing not to renew the lease.  He will need to be out in 20 days.

Do I still need to get the notices signed and returned back to me?  If I have it in writing (via text) that he is not renewing?

What do I do to ensure that he is out when he needs to be?  

Any helpful advice to ensure this process goes smoothly and we are able to get another tenant set up quickly?

 All of the advice so far in the above posts is great, sound, advice.  I would add for you to always, always, always, try to get correspondence in writing (letter or email form) from your tenant.  Its difficult to find and print text messages if you have to go to court.  I would also research property management software so you can send correspondence and get an e-signature on documents.  There are many software programs that are not very expensive.  

We are reaching out to Brokers, Realtors, Landlords,

& Stagers to clean properties for showings, new tenants, or new

buyers. Our office is located in Glenside, PA and we service the Montgomery County and

Northwest Philadelphia area. If you have properties in Germantown, East

Falls, Mt Airy, Oak Lane, Ogontz, or Chestnut Hill, we service those

neighborhoods. We are scheduling appointments beginning March 1st. We can provide a

free quote by phone and offer volume discounts.

Affinity Cleanz

www.affinitycleanz.com
724-565-2433

We are reaching out to Brokers, Realtors, Landlords,

& Stagers to clean properties for showings, new tenants, or new

buyers. Our office is located in Glenside, PA and we service the Montgomery County and

Northwest Philadelphia area. If you have properties in Germantown, East

Falls, Mt Airy, Oak Lane, Ogontz, or Chestnut Hill, we service those

neighborhoods. We are scheduling appointments beginning March 1st. We can provide a

free quote by phone and offer volume discounts.

Affinity Cleanz

www.affinitycleanz.com
724-565-2433

We are reaching out to Brokers, Realtors, Landlords,

& Stagers to clean properties for showings, new tenants, or new

buyers.  Our office is located in Glenside, PA and we service the Montgomery County and

Northwest Philadelphia area. If you have properties in Germantown, East

Falls, Mt Airy, Oak Lane, Ogontz, or Chestnut Hill, we service those

neighborhoods.  We are scheduling appointments beginning March 1st.  We can provide a

free quote by phone and offer volume discounts.

Affinity Cleanz

www.affinitycleanz.com
724-565-2433

@John Carmody, I am not a fan of investing out of state when you are just getting started and have no experience.  A huge part of this business is managing your team and contractors.  It is very difficult to do that when you are out of state and you have to trust people you are building a relationship with.  It can be done; however, there is a lot of room for someone to take advantage of you because you lack experience and do not live in the area.  1) I would suggest you post another forum to ask people who invest out of their home state how they build and manage their team while living out of state.  If you want to pursue getting an investment in MO, 2) you might start with a turnkey property and get a property management company to manage it for you.  I am not sure how much money you have to get started;however, you could purchase a duplex or triplex and house hack in it if you move to MO.  This suggestion is a safer option as you learn the fundamentals of the business.  Best of luck to you,

-L
           

@John Carmody is there a reason you are starting your investment business in a city far away from where you live?  It would be helpful to share the location where you live, where you would like to invest, and the distance you would have to travel to get there.

-L

@Chelesa Wallace, you have gotten great advice from all of the contributors.  Any decision that you make as an investor, understand how that "investor move" fits into your short and long term goals.  Ultimately, what you decide should align with your overall game plan.  Some of the questions I would ask myself if I were in your situation would go as follows:  Would doing a micro renovation force appreciation in the property to allow me to cash out refinance if I desired now or in the future?  Would doing a micro renovation, Increase the equity in my home to add to the overall value of my real estate portfolio?  Would a micro renovation allow me to max out the rent I can command for the long haul?  How fast can I recoup my renovation investment in rents?  Would a micro renovation improve or increase the pool of tenants applying for my property?  If I have a strong pool of qualified tenants desiring to rent a home in my A- neighborhood, could I offer an initial 2 year lease?  Do an investor "think aloud"  to help you filter through all of the strategies you will inevitably get from posting in these forums.  Bigger Pockets is a place to connect with a power house of talented investors so you made a wise choice in posing your situation. Best,

-L          

@Zoran, I agree with the comments posted earlier in regards to price.  There is a local building supplier (www.southwestvinylwindows.com) in my area where I am able to get windows from their "stock list" for around $135 per window.  They have a pretty extensive list and I have been able to accommodate my window openings with what they have in stock.  1) Take some time to find and visit building supply stores in your local area.  Most do not require you to be a licensed contractor to purchase building supplies.  It's a quick phone call to find out.  You may be able to save significantly on materials. 2)  You can also find a local handyman to install your windows.  I am constantly networking to get referrals for contractors and handymen.  You could call a handy man and state, "I have 6 windows that I need installed, could you do it for $______?).  They will say either yes or no.  Someone will accept your price after you call around.  3)  I have found good, reliable contractors/ handymen on Thumbtack.  When you post your job for a quote, you can also state what you are looking to pay but negotiable.  I don't know how many windows you need installed but you may consider offering a handyman a flat rate of ex: $1000 for labor to install _____ windows.  Best,
-L