All Forum Posts by: Marc W.

I'm confused. Duplex for 80k, 30k in equity...

30 - (80*0.20) = 14. 14 - 6 = 8k left over.

Why not cash out the equity and use that for reserves?

1) Cut everything past "Rent is $1700 a month". If they care about the other stuff, they'll ask. Otherwise it sounds like you're going to white glove everything with the monthly rent... probably with Spirit Air's fee schedule!

2) Get the house move in, or almost move in ready before showing.

My $0.02

James,

You will also want to separate out "standard of living" items from "unhabitable" items.

The landlord isn't responsible for thefts, vandalism, or the neighborhood going down the drain...

He *is* responsible for major pest infestations, heat in winter, a plumbing system in good repair, getting rid of pre-existing mold, etc...

@James McCarthy,

I'm not sure why you haven't moved out at lease renewal, but going to court isn't as scary or expensive as you think

Going to court involves a few steps to standardize your presentation and argument, but really it's nothing more than paying the filing fee and going in front of a neutral person to resolve a conflict. If you have a series of pictures showing major pest infestations over months- the judge's decision gets real easy.

So you have a "lease agreement" where no money has changed hands, no delivery was made, and no costs were incurred...

No judge will enforce that, best to move on. In the future, ask for deposit as earnest money. If they flake, that deposit is yours.

©Jordan Stoneman: Nope. If she didn't pay the rent before, and put off the most recent rent... but managed to get to the court house at 8AM, she was pushing the new landlord to see how much she could get away with. Cash for keys would just lead to another ransom demand. Tiffany N. Did the right thing.

@Tiffany N.: I wouldn't feel bad for too long. If she had any good intentions or sense of responsibility she would have contacted you beforehand to let you know and maybe work something out.. If she wouldn't do even that much she made her bed.

The only times I've been involved with late night calls were things the tenant couldn't solve themselves:

1) No deadbolt, only a twist lock on the door. I walked out to go to a play, "click"... "did I just lock myself out"?

2) Burst water pipe with a hidden main shut off

3) came back from a trip to a storm door that got iced shut and wedged in place.

If it's in the SoW for a fixed fee contact, it being costlier/taking longer is a risk he took when bidding the job.

Unless your contact has specific provisions otherwise, He eats it, no matter how long it takes.

$100-$150/SF + land costs. Bring your own sketch if you want to move in within a 12-18 months.

Not a contractor, but I've worked with a lot and built several homes.

Welcome to BiggerPockets!

Unfortunately, it sounds like you are learning the hard way about "stupid contractor tricks" and writing and enforcing contracts and schedules to keep them honest. This treatment (to a lesser extent) is something to expect from all contractors- Greece why you only believe 10% of what they tell you.

My (totally unofficial, free, no warranties expressed or implied) opinion is that you should cut this contractor loose and either find a GC willing to bump you up in the queue in exchange for a cost premium, or learn to do it yourself. Trying to work with this contractor will just add pain and suffering to your life.

PS- if a contractor is "bitter" because you offered a penalty clause, DON'T believe him. He's either mad you won't let him skate on his responsibilities, or it's a show. If it's not coming to blows, he's not actually that affected.