All Forum Posts by: Nancy Wang

If you can handle the rentals - buy and hold. Eventually your rental income will replace your salary.

This tenant is very tough - he told his section 8 worker that he would fight me in the court in the first time I served him 14 day notice. Then he paid for July, now August rent is missing, etc. He is blind and has diabetes - he thinks he can get away with anything. He was arrested and jailed last year but released due to his "protected class"... 

Hi Patricia,

Thank you for your advice. I will proceed with eviction this time.  

The tenant didn't pay for July's rent, after 14 day notice and summons paper (another week) he paid for July's rent the day before we would have filed the summary process. He hasn't paid August's rent. We have served him another 14 day notice on Aug 10th. We will probably serve him another summons (he then has another 7 days) before we can file on court. That will be somewhere in September and I am 100% sure he is not going to pay the rent for Sept.

It seems he likes to play this game. My constable told me second time I don't have to accept his rent and start eviction. Is that true that I can evict him by refusing his share of rent on the 14-day notice? 

When is enough is enough? 

3-4 months of painful waiting he left

Update on the property in Memphis: 

We went there on Sunday and came back next day on Monday.

On Sunday we drove around, talked with neighbors, hired the neighbor cleaning up the yard and cut the grass, found a realtor's sign on the next block, called him and he became our agent.

On Monday we went to the City for the hearing (the house was in code violation), extended the grace period from the City, hired anther landscaper we found in Burger King (saw his truck on the parking lot and asked the first guy we thought was the landscaper). He removed a dead tree and cut the bushes. 

Agent posted the for sale sign on the yard we flew back Monday night.

Tuesday we had two offers and we accepted the higher offer of $23k!

Not a bad ending. We end up not losing money on this deal...   

What is your secret to success? 

David - say something - how you did it.  

The property's zip code is 38127. I've been told it is not very good neighborhood - lots of drugs and crimes going on. But when I google it the area looks just fine. Wide and quiet street, good descent houses - I don't see any trash laying around.

We are going to go there in a week for the first time. I'll keep you posted on how it goes.

Thanks - I don't know anyone in Memphis - I bought the two houses without seeing them and just trusted the turnkey provider and PM they recommended.

One of the two is still cash flowing. 

If hings goes well it goes well. If it doesn't the PM wouldn't do some extra help.

For example, I asked the PM send me the keys - no responses. I called, left a message, emailed - no responses.

They were responsible to oversaw my property but when things happened - you can't count on them.

I don't think I would do long distance investment without knowing the city really well.