All Forum Posts by: Bob B.

@Eddie Gonnella I grew up in Richmond, visit often and thing there are plenty of opportunities there.  Congratulations on your purchase.  

Great

@Peter Kopchik I assume you had auto insurance at the time of the accident.  If so what has your agent said about the suit?  You should talk with a local Attorney about asset protection and do it soon.
As others have said most suits never amount to much but you are right to take it seriously.

I'd bet you could put her in an extended stay for a week for a couple of hundred bucks.  Some here will not agree, but I think it's just a cost of business and not much money.  Expecting a family with kids to live without cooking or hot water in the winter isn't reasonable.  The gas bill probably won't be much and it's not her fault.  You're lucky someone didn't die.  Do you have CO2 detectors?  If not, now will be a good time to install a couple.  

Just say "NO'" and find a tenant that meets your requirements.  $800 isn't nearly enough to make it worth your while to turn over and re-rent a property.  He needs an extended stay motel-hotel.

I'm old school and keep a separate account for each property.  This will not work for larger landlords but it works for me just fine. The tenant has the account number and pays their rent to their account and I pay all expenses from that account.  At the end of the year I print out a summary of income and expenses.  Over the last 17 years I've tried quick books, spread sheets and notebooks but the separate accounts works for me. Like @Ben Sears said you will get many different answers.  I would recommend getting a good scanner and digitize everything possible.   

You need to issue a pay or quit today and stick to the lease.  Your initial impression of this tenant was correct and you were correct in getting a larger deposit and I bet you will need to use all of it before this is over.   If your run into a problem find a local professional that will help with the eviction.   

@Lee Hughes. Now you know in the future to only work with Dr. 1031 @Dave Foster.

I've had an auction house under contract since April 2019 that was foreclosed on in Jan. 2019. The bank started the foreclosure in 2014.  The owner has filed for bankruptcy every year, filed divorce twice and sued the bank for mail fraud. 

The bank's, sorry attorney has not been able to get the owner out as of today.

Typical foreclosure and eviction in GA is pretty fast.

Valdosta is a great market.  I would stick close to home.  There are solid brick ranch homes near VSU that are great for student housing.