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All Forum Posts by: Cheryl C.

Cheryl C. has started 74 posts and replied 654 times.

Post: Don't you already have enough money that you didn't earn?

Cheryl C.Posted
  • Investor
  • Reston, VA
  • Posts 683
  • Votes 190

Chris K., no not section 8 (although I have an excellent section 8 tenant). Sorry about the "political" comment (but I am glad you live in MD :) ) Eric Blackford, you got it right. I'll have to think about something fun. Did I mention how "extremely selfish" I am? Lest you all think I'm some LL wizard - NOT. I've had my share of losers but most leave after they get a 5 day notice.

Post: Don't you already have enough money that you didn't earn?

Cheryl C.Posted
  • Investor
  • Reston, VA
  • Posts 683
  • Votes 190

Yes, I didn't build that. I have "enough" to let people live free. Not to be political, but I sure hope we see some change. This theme seems to be gaining traction.

You want to hear her defense? I refused to be home for her to bring cash and sign a receipt. I had told her to get a money order. Sorry, I don't want random tenants coming to my house. The landlord/tenant act here requires that I give an address. She told the judge that she had "legal advice" not to give rent without a receipt. This was supposedly from "legal aid" (that we all pay for). The judge told her to be careful who she listens to.

Post: Don't you already have enough money that you didn't earn?

Cheryl C.Posted
  • Investor
  • Reston, VA
  • Posts 683
  • Votes 190

Joel Owens, I've had enough bad experiences over the past 30 yrs., I've just never had anyone with the nerve to go to court and lie. My lawyer had told me that people who have nowhere to go will stretch things out as long as possible. I'm not the best LL. I've been taken before - but they usually leave before any filings. I have 20+ very happy tenants at present. I'm just going to be very careful going forward. And, I won't give anyone a second chance.

Post: Don't you already have enough money that you didn't earn?

Cheryl C.Posted
  • Investor
  • Reston, VA
  • Posts 683
  • Votes 190

Thanks for the responses. I'm just not the gov't or social welfare and that seems to be what some tenants think. They should have free rent because I might be better off financially? I agree with all your comments. Jon Klaus, yes I am too soft. My major error was thinking that she was taking good care of the property. I should have inspected. Jon Holdman, yes this is "theft" in my book and should be treated as such. William D., this is a major socio-economic problem. I went to court to get the unlawful detainer so others wouldn't fall victim to this tenant. What happened to personal responsibility? I've had tenants in the past that just moved/left.

Post: Don't you already have enough money that you didn't earn?

Cheryl C.Posted
  • Investor
  • Reston, VA
  • Posts 683
  • Votes 190

I was in landlord tenant court this morning to evict a tenant. She hasn't paid Sept., Oct., and now November. I got an e-mail after I got back home. "People like you make me sick". "You've ruined several lives". "Don't you already have enough money that you didn't earn". I have a long history with this tenant. She has been systematically late since the 2nd month she was there in May of 2009. I've bent over backwards to help her out. Any other LL would have evicted her 2+yrs ago. (yes, I am too soft on people). Why do people believe that they should live free? This is what is the matter with this Country. "You got it, I want it".

This was my first time in an actual trial and I've been a LL for 30yrs.

btw - this newly renovated TH is a pig-pen.

No more "breaks" for anyone. Sorry about the vent/rant.

Post: Realtor Charging for Comps?

Cheryl C.Posted
  • Investor
  • Reston, VA
  • Posts 683
  • Votes 190

Derek Tyler, I use Frankley all the time. Why would you need MLS? The comps are great as is the direct link to tax data. Access is the issue. I only involve my agent when I get to that stage. I trust my own numbers and my own rehab estimates. My contractor is happy to take a look and give me a proposal pre-contract. I usually don't need him unless it's extensive work. I target certain areas that I find attractive for various reasons; location for appreciation, proximity to my house, numbers, decent/good schools with low crime. I know the values cold and can act in a matter of hours.

Post: New landlord Rough Start

Cheryl C.Posted
  • Investor
  • Reston, VA
  • Posts 683
  • Votes 190

One thing that I learned early on (from my LL mother) is to always tell the tenant that you will "have to get back to them". Make up a reason if you feel the need (talk to partner, attorney, whatever). I don't ever commit to anything without thinking it over. Lesson learned.

In your situation, I don't know if I'd refund the $200 or not. It will cost THEM more than $200 to get a lawyer letter. I don't care too much about $200 but I'd be justifiably pissed about their disregard for your loss.

Post: Advice on hiring an assistant?

Cheryl C.Posted
  • Investor
  • Reston, VA
  • Posts 683
  • Votes 190

John H., craigs list.

Post: Advice on hiring an assistant?

Cheryl C.Posted
  • Investor
  • Reston, VA
  • Posts 683
  • Votes 190

I expect to pay 17-20 for someone with something on the ball. In fact I've hired someone. He wants to learn RE and admits he's not a corporate guy. I can relate to that. I must have gotten 50 or so resumes. Amazing how many people just shoot you a resume that lists no relevant experience and has no cover letter. I also asked for salary requirements. People who can't follow simple direction were deleted.

Post: Flip without doing any work?

Cheryl C.Posted
  • Investor
  • Reston, VA
  • Posts 683
  • Votes 190

Aaron Churnick, I didn't know that about moving the loan. I've been told that you are "stuck" when dealing with an FHA apppraisal. I was able to flip for some very nice profits with little work back in late 2008 and 2009. I had trouble when the buyer credit kicked in and had appraisers comping off reo's. I've had enough problems with appraisers to even wait for places to close in a subdivision before I list. It's a crap shoot with these guys and they are (for the most part) running scared and low-balling. I had 8 offers on one place and an appraisal come in 15% low. Although I don't want more rentals - that is my exit strategy. If the numbers work, I can deal with it for a few years.