All Forum Posts by: Nathan Gesner

 I'll defer to your expertise but frm everything I've read, courts will grant access to the land except in very rare circumstances. It may be costly and time-consuming but an easement can be granted because everyone must have access to their land.

@Wesley W. you are partially correct. 

The Landlord can only ask two questions, as you stated.

However, you then mention "validation from the ADA" which is incorrect. ADA only applies to service animals in public spaces. Fair Housing addresses service animals in residential properties.

An ESA is not "easier" to vet. It's easier to fraudulently claim. An ESA can be any animal, including squirrels, turkeys, snakes, and fish. It can be "prescribed" by almost anyone, including a mental health counselor, physician, psychiatrist, or even a church pastor.

There's a lot to navigate, a lot of unanswered questions, and HUD doesn't do much to help the Landlord. My recommendation is for you to look into www.petscreening.com because they will ensure compliance with the law to protect you and your property but they will also weed out a lot of the fraud. It's a free service for Landlords.

1. You know strangers are "driving around and selling off his 6 vehicles and have been staying in the house"?

2. He told you he had a plan?

3. He was showing the house to potential replacement tenants?

I'm not an attorney but here's the best advice anyone can give you: sell the property and stop investing in real estate. You would be much better off investing in mutual funds.

The process is the same but the professionals should be much more efficient and effective.

There are a lot of factors to consider. I would simply say this: everything has a season. If you feel the market is wrong for investing, don't invest. Continue to save and posture for the next opportunity. I personally feel the market has peaked and things are about to change in the next year or two. 

You mention some big expenses coming up soon so maybe you should focus on saving up for those. If a great opportunity comes along, you'll have cash to jump on it. If not, work on improving what you've got.

A military renter will typically stay put for 2-3 years so you get stability. You also won't see a military renter tell you their hours got cut at work and they need to negotiate a reduction in rent. When they leave, another soldier can take their place. If you are a good Landlord and the home is nice, you should have no problems.

If you ever have a problem with your renter, a quick call to the housing office or his/her First Sergeant may fix the problem quickly. It helps to have a military background and know who to talk to and how to talk to them. I've seen businesses that couldn't get money out of a soldier but one well-placed call to someone in their chain of command and the soldier is handing over cash that same day.

Appreciation in military towns may be slower than average but you're probably focused on cash-flow more than resale value so I wouldn't worry about that. I also wouldn't worry about base closures because Bragg is a pretty solid bet.

I don't know any personally but maybe this checklist will help:

You can start by going to www.narpm.org and search their directory of managers. These are professionals with additional training and a stricter code of ethics. It's no guarantee but it's a good place to start.

1. Ask how many units they manage and how much experience they have. If it's a larger organization, feel free to inquire about their different staff qualifications.

2. Review their management agreement. Make sure it explicitly explains the process for termination if you are unhappy with their services, but especially if they violate the terms of your agreement.

3. Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers. It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees. Fees should be clearly stated, easy to understand, and justifiable. If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee. Don't be afraid to negotiate!

4. Review their lease agreement and addendums. Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.

5. Don't just read the lease! Ask the manager to explain their process for dealing with maintenance or problem tenants. If they are professional, they can explain this quickly and easily. If they are VERY professional, they will have their processes in writing as verification that it is enforced equally and fairly by their entire staff.

6. Ask to speak with some of their current owners and current/former tenants. You can also check their reviews online at Google, Facebook, or Yelp. Just remember: most negative reviews are written by problematic tenants. The fact they are complaining online might be an indication the property manager dealt with them properly so be sure to ask the manager for their side of the story.

I hope this basic guide helps. If you have specific questions about property management, I'll be happy to help!

Rents don't generally drop like property values do. Of course, property values dropped in 2008 like they never did before so there are always exceptions.

If you talk to the investors with decades of experience, they'll tell you that the blue-collar rentals are usually safe. These are the back-bone workers  that won't see wild fluctuations in their income or employment. In my area, anything under $1,000 a month is pretty safe while houses over $1,200 can be volatile when the energy industry takes a hit like it did in 2016. I can barely rent a single-family house right now, even with significant price drops of 20% or more but apartments and houses under $1,000 are renting like hot-cakes.

1. Don't purchase investment property in a heavily regulated, tenant-friendly leftist state like the People's Republik of Kalifornia.

2. I'm not an attorney but I don't think the lease is "terminated" just because the tenant left. They are usually obligated for the remaining term of the lease or until a replacement tenant is found, whichever comes first. If the tenant left without authorization to terminate early, then the lease is still in effect, the Landlord should make every attempt to rerent, and the original lease would only terminate when a replacement lease is signed. If the Landlord gave the tenant permission to leave or break the lease early, then I would argue it's terminated and the 21-day clock begins ticking.

Put the numbers on paper. You said, "it is a bottomless pit of back taxes" and "everything in the house is broken from A to Z" which sounds like a money pit to me. How are you going to afford the back taxes and renovation so it turns into a cash-flowing property?

Mom has a sentimental attachment. You need to show enough cash flow to overcome her emotional attachment, which may not be possible.