All Forum Posts by: Laura Cardenas

@natalie cloutier - I respect that you send this email. I am appalled by the first couple of responses on this thread. I also emailed my tenants( I actually make a forum post about it too). We are opening (or keeping open) that line of communication. Clearly, different management styles from those who commented first. Many landlords I've spoken with (and respect) have chosen to send a proactive email! Keep on being a professional. Have a great day!

@Troy Zsofka thank you so much for that! I was able to pull some goodies out and make my own with it.
Thank you @Mindy Jensen I included that link you posted as a resource as well this is what i ended up going with:
"Evening all,

The COVID-19 pandemic has caused our local and state governments to take some preventive measures, that have changed our daily lives in the short term. For some of us, this may mean temporary loss of employment, or a reduction of income.

If you find yourself unemployed, please let me know as soon as possible. I want to work with you and we will take this on a case by case basis. I will be more willing to work with someone who communicates openly with me regarding this issue.

Resources:

1)The NH state government has issued an order to provide "immediate access to unemployment benefits to individuals who are unable to work or who have reduced hours due to the COVID-19 pandemic". Please, take the initiative and apply for unemployment or other government aid ASAP if you are laid off.

NH Unemployment website:

https://www.nhes.nh.gov/services/claimants/index.htm

2.) This website is updated daily with resources regarding COVID-19. It could have something helpful for you or someone you know. :

https://www.iheartbudgets.net/covid19-financial-resources/

Keep yourselves healthy! Thanks for your time.

Warm Regards, "

Hey BP!

I would like to put together a formal and professional email to send to my tenants as a point of guidance and support to them and also give show them resources they have regarding COVID19. I want to communicate that I am going to help as much as I can in the event that someone loses their job. Would it be inappropriate to ask for proof of unemployment from their employer?
I would like to include any links that might be helpful resources for them (ex:NH unemployment website).

Any landlords/property management teams here that have or are planning to take proactive steps to contact their tenants?
If you are, would you be willing to share that document/email with me? I’d love to provide my tenants proactively with resources incase they need them.
Thanks in advance.

*New Hampshire specific advice would be a bonus.

Hi Elizabeth! We're neighbors, I'm in NH. I'm fairly new to the real estate investing game. I currently house hack a 3 unit, I just purchased last year in Rochester. I also own half a duplex (considered a condo) in Somersworth, that is a rental. 
Most recently, I created a partnership with two others and we together purchased the other half of the duplex I just mentioned and we’re currently in the process of demo. Should be completed by April 1 and we’re going to rent that one as well. My focus is Rochester and Somersworth because the prices are much lower than surrounding areas with great cash flow.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $299,900
Cash invested: $11,000

House hacking

What made you interested in investing in this type of deal?

Subsidizing my mortgage payment is what interested me in this type of deal.

How did you find this deal and how did you negotiate it?

I found this deal on the MLS with Jessica Stevenson as my realtor

How did you finance this deal?

I financed this deal with an FHA loan

Lessons learned? Challenges?

Lesson learned: be weary when buying a home with inherited tenants that haven't been screened properly or at all. I had to begin the eviction process 1 week after moving in. We got as far as going to court for the hearing. We settled with him paying what he owed and being out in a few days after that date.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I worked with Jessica Stevenson (from The Lefebvre Team) as my realtor and she was professional and very knowledgeable I'd definitely recommend her to others.

@Odayne Daley

I think it depends.

If they are paying far under market rent and have a lease , you’re stuck until their lease ends.

If they weren’t properly screened you could inherit a tenant who actually can’t afford the unit or has a criminal background.

If however the prior landlord had a thorough screening process and lease and the tenant was paying fair market rent, then I think it would be great you’re receiving rent checks right away.

@John Matthew Johnston

Unfortunately I don’t have any advice but I came here for the comments and learned quite a bit!

Goodluck with these guys! Hope they turn the place over in tip top shape for ya

Hello everyone!

I’ve got a 3 unit multi under contract, we’re due to close next week. I will be moving in and house hacking.

The two other units are currently occupied. There is no written lease for either of them and they’re both month to month tenants(both paying WAY under market value but that’s a different story).

I just received the completed estoppal agreement so I instantly google searched the tenants names. One of the tenants was recently in jail and is currently on probation. His offense is “Domestic violence stalking”.

When I screen my own tenants I have a minimum qualification of no violent felonies.

I will be living in this home with my 1 year old daughter.

I instantly think to myself

“How do I get him out as fast as possible?”

Any suggestions or advice is greatly appreciated.

@Joe Splitrock great advice about the job history! Thank you.

@David Stumpf great point to cross reference the background checks and their application on the address. Thank you!

Good day fellow BP members!

Starting couple weeks ago I've been marketing my home for rent. (I've got a 3 unit under contract, due to close at the end of the month.. I will be house hacking there)

I'm a first time self managing landlord. 

I've got 4 potential tenants who have all passed background checks, credit checks and all other minimum qualifications.  

The four potential tenants are 2 couples who each currently live with their parents. None of them have rental history, they've always lived with their parents. They also don't pay rent at their parents homes. 

My questions are these:

 Do I approach my reference interviews differently? 

Are there good questions to ask for tenants who have no rental history?

Any other advice for this situation would be much appreciated.

Thanks in advance for your input!