All Forum Posts by: Sam Leon

Wayne,

The problem is most O&E report only searches the current owner.

I spoke to one of those $50 per report customer service rep and they thought I was looking at a foreclosure auction when the owner is still the original owner. But in my case the bank has taken back the property and now is offering the property on another auction so the owner on record is the bank. They told me the O&E report may not get me what I want because they search for stuff associated with the owner not so much the address. They actually told me I should get a title company to do it in my case.

Steve,

About six years ago I spoke to one of the early adaptors of an epoxy relining technology. I had a 2" drain that was leaking under a concrete slab and they came out, and I was lucky, the actual relining tech from the company they licensed the technology from was teaching a class for them so the whole crew came over to look at my situation as a "field study".

What I learned from that exchange was that it was more for large size drains, 3" or up. 1.5" or even 2" is pushing it. They will insert a relining fabric but there are some limitations. The section to reline, between point A and point B, you must have access to. If in between point A and B there is a branched fitting, like a WYE or a TEE, the liner would span across and block that branch, and they have to come from the branch and cut a hole back through the main. The other problem is if the inside of the pipe is not nice and smooth, the liner would assume the shape of whatever it is...so if you have some tree roots that breached into the pipe, that liner would take the shape of the root it unfolds over. A kitchen drain is typical with lots of grease and slob, and one must swept the line clean with a jet in order for the epoxy liner to get a round smooth shape - and with my copper drain in that condition I am not sure it would survive a high pressure jetting.

So anyways the epoxy liner rep at the time told me they couldn't fix my problem at the time, which was a PVC fitting that "pulled apart" but it was under the slab. I end up having to hire a service to dig a 27' long tunnel under my slab to get to the point of repair.

Hahaha I have many pics. I must have taken a few dozens when I tried to find the leak.

Next time when a contractor tells me "you can't fix what you can't see" I am going to show him.

Many of the "low flow" shower heads deliver the low flow by the presence of a low flow restrictor inside the shower head. If your tenants do not like the low flow, all they need to do is to open the shower head and pop out that restrictor.

If you want a tamper proof vandal resistant utility shower head get the ones they use in prison showers. Made by HighSierra $39.95.

Waterpik mades a few low flow ones that has gotten good feedback. Ecoflow is a model where it has a mode with less than 1 gallon a minute yet does not feel like it's low flow.

Finally, I am sure some of you remember Seinfeld's Kramer taking a shower with the Commando64 shower head and got blown away.

Vince,

What I do is I have an early termination addendum to the lease which the tenant signs, the penalty is two month's rent.

I also charge my tenant upon lease signing first, last month plus security to move in which effectively mean I hold two month's worth of rent in my hands.

If someone moves out six months early I have to look at the situation if it is to care for family, job transfer etc...I couldn't in good conscience keep six months rent even if I could anyways.

May be I am reading this wrong but I don't quite follow why you think they broke the lease.

They paid you rent for the last month they did not occupy the unit, which allowed you to market and turn over the unit sooner. They could have held on to the vacant unit and do the walk through with you at the end of October.

That's why they filed, they think you are being unfair to have held on to their deposit too long.

Granted good communication is critical. They should have called you first and asked.

I would not be surprised they may have asked what to do in some renters forum and got advice to sue you because "must be an evil landlord trying to keep your deposit, follow the law, don't let him get away with it!" LOL.

Once you own the place you have several options.

You can evict them. Although you may have to wait, if the have a lease the lease survives the change of ownership. So if the previous owner had a lease with them for ten years at $1 per month you are in for a long haul.

I saw a case down in south Miami a squatter "alleged" produced a lease, most likely a faked lease but enough to call into question and delayed the eviction process. Also beware if u evict they might trash the place, flood it, pour concrete down the drains etc...

Or you talk to them and offer them some financial incentive to leave, cash for keys, but there is a chance the bank has already tried that and failed. See if you can find the last listing agent and make a call.

Talk to neighbors to get an impression of the conditions and occupants.

Are they giving u a quit claim deed? Make sure there are no other centers. I was looking at a place just last week the auction starting bid was 67,000 the comp is 100k, easy comp when it is a cookie cutter town house and lots of nearby recent activities and the only variables are first or second floor, corner unit or not...however I found the on site property manager and they told me they owed 61k of HOA dues and penalties LOL.

Oh, you can also try scaring them away.

by the way was talking to an agent who is listing one of these.

She sounded real angry with being the listing agent, said the bank sent the listing to her as if its going to be a REO sale, and after all the work and a BPO the bank decided to auction it instead and pay her 1%. She said that's a "bait and switch".

So I am looking at a couple of auctions, not foreclosure auctions, these are already bank owned and available via sites such as homesearch.com.

I need to do some title search on these.

Is an O&E report all I need or I need a full title search?

I noticed some firms offer a variety of title search services at varying prices.

For example single owner report, two owner report, 30 year report, or from the last good deed etc...

I remember last time I looked into this the searches are $150 or so, now I see prices of $49, another one charges $35. Have the prices come down in the last six months or so or they just came up with creative packages that are less useful?

I assume these reports are not guaranteed, basically quick broadstroke searches and if you find out later something is missing they won't stand behind them?

Better to use national chain ones or local ones? Although if I type in a local city and title search and Google still pulled up domains that sounds like a local firm but are indeed natipnal.

I do see some offer a volume discount where you can pay for 10 in one shot.

??? you mean the FICO score?

The process is a couple of locked steps, and one of them involved the applicant on their end to authorize certain steps so technically it was the applicant who authorized the pulling and release of that information. Or are you talking about something else?