All Forum Posts by: Jessica B.

Can you verify who else they've done deals with?

This particular nonprofit is paying 8% on 2.5mil loan for a building. The building is worth far more than 2.5mil given it's new zoning and location in Portland. If I had to guess the building is worth at least 10mil. They are building rich and cash poor right now. They are struggling to balance their budget. They would benefit from restructuring the bond to a lower interest rate or somehow getting accessing the equity.

Here are my initial thoughts: It does the nonprofit no good to own this asset. They are not allowed to make a profit and if they ever went belly-up the asset would simply be donated to other non-profits. What they would benefit from is lower payments. 

Here are my questions: Is restructuring the bond the best route? Is there another entity that could be created that would own the building and rent it to the non-profit at a cheaper rate? Does anyone on here have any experience doing this sort of thing. 

I have a few rentals in Springfield. Mostly single families and a few duplexes. What I've learned is that the duplexes are a pain. I have one that looks great on paper. But the reality is another thing. There's lots of maintenance and extremely high turnover (60% occupancy). I'm trying to sell a duplex there now, but no takers so far. 

Here are my questions for you: What neighborhood is this rental in? How much are you setting aside each year for maintenance?

As of 2017, no employees.

I'm selling. Should be listed next week. The bottom's rent is $500 and the upper will be $400. Hopefully, an investor will like what they see and do better than I have. Better late than never. 

The rest of my properties are doing well enough. There's another one I'm thinking about getting rid of. We'll see how this one goes.

Thanks for all the advice. As of this morning, there is now garbage service. No fines, no evictions...

I've done a bit of calling around. The fines for not having service setup are steep $100/day and if it continues to go unresolved, jail. So, I'm really incentivized to fix this issue.
Like I said the issue is not the garbage, it's a clean house. The issue is having service setup. The REAL ISSUE is the neighbor. This is just her latest attempt to push this family away. Once we resolve the trash service issue, I'm sure there will be another issue waiting. I'm going to be buying my tenant one of those porch curtains to help with the invasion of privacy.
They've already tried mediation. I am not willing to give anyone a taste of their own medicine. It's just a sad situation.

There's not an issue with garbage. The house and yard are fine, there is one bag of garbage. The biggest issue is a racist neighbor who is harassing my tenant and PM. Calling 3 times a day, videotaping tenant, calling code enforcement and now the health department. How do we know she's racist? Clearly asked us not to rent to anyone of color. 

So my PM is worried about a health department fine. I can't find any mention of what the fine would be or law stating everyone needs garbage service setup. I've asked her not to evict this tenant until we know more. 

Has anyone had an experience with the health department and garbage service?

@Patti Robertson

The rentals I have are in Ohio. They have advertised on Craigslist, I don't know about military websites. 

So is it accurate to say that I can list my rental at $600 and say that I accept section 8? Then it will be up to the powers at be to approve that rent price based on the individual applicant.

If you found something out about the kids would you not rent to this family? I would focus on this awesome 6 year relationship you have and count your blessings.