All Forum Posts by: Marc Winter

@Kenneth Cook, you had a Realtor AND an attorney on this transaction?  And neither decided it might be important to get you copies of the leases or at least estoppel letters?

There's no excuse for incompetence.  If they dropped the ball on this issue, hold them responsible.  

They already proved their lack of character to you, so why expect that they will change and take responsibility now?
Unauthorized tenants? Raise their rent!  Don't like it?  They can leave!

PS:  I would NEVER take eviction off the table.

Check out NEPA--greater Scranton PA area.

@Henry Wang, first, don't call the tenant a 'squatter'.  That gives them certain rights that will probably lead to a sort of ejectment rather than a regular eviction.  (Read--ejectment = more time and money).

You need to speak with a seasoned real estate attorney with lots of landlord/tenant experience.  They can tell you the costs and approximate time the process can take.

Of course, if the tenant happens to be 'professional', they can drag the process on, and on, and on...

Make sure you have sufficient reserves and the other units' rents will cover most if not all of your expenses.

Here's the basic training I used to put my new agents through:

Copy at least 25 listings from MLS onto your MLS listing 'paperwork' so you know how to fill out the form. The same goes for an agreement of sale (ask your broker for some samples).

Inspect inside and out of 50 current or expired listings in your market.  Product knowledge is totally critical and will put lots of $$$ in your pocket.

Go knock on 50 doors every weekday for a month.  Smile and introduce yourself, give them a newsletter or business card.  Chat them up and have something meaningful to say regarding local real estate.  Meeting new people, facing and learning how to handle rejection will help you keep a positive attitude and will keep your head in the game.

And remember, the one that asks the questions controls the conversation, don't they?  Ask the right questions!

Good luck!

We have had only four (out of 275+ tenants) who decided to game the system.  All in all, our collections have been steady-to-better than pre-covid life.

There are CDC guidelines you should familiarize yourself with that will answer most of your questions.  Also, read, study and memorize your state's L/T regulations.

(BTW--does anyone know who put the CDC in charge of national eviction policy?  Just saying...) 

We have several out-of-country investors and although it can take a bit more time, it's not that difficult a process.  Take your docs to a notary in France, and make sure to have any documentation they may provide you to be certified by a licensed translator.

And speak with your title company before you go--they might have some additional info for you.

You might also consider a limited power of attorney given to a very trusted friend.

Good luck--enjoy your vacation!

In retail real estate, there are 'sexy' and 'who cares' improvements. 

Often, the 'who cares' is more important than the former:  new plumbing or electrical throughout is a great improvement, but it just ain't sexy.

Granite or quartz, stainless, LVP, touches of ceramic, lots of grey or muted tones, sharp landscaping--these are the sexy ones.  

As we all know, sex sells.

@Braden C. is correct.  You paid for the list, and you should fix the glitch and mail to all on that list if you know they are absentee owners.

Could it be that there is some confusion about who is the seller doing the financing?  If you are doing a 'wrap around' seller financing deal, perhaps that's what the realtor was referring to.  We could use more details about the situation to give you better insight.