All Forum Posts by: Pennie Heath

I am ready to take the RE exam.  I have another profession so don't want to have a f/t career in RE per se, but my husband and I have almost completed our first flip in Memphis and I would like to use it in our business and maybe work other deals.  I've always wanted to do it but always kind of as a hobby, I'm 54 y.o. with a long career in another field.  Any ideas?  Thanks,

We are closing next week on a SFH that we plan to flip. It's in an up and coming area, it needs some updating, but is a 1925 bungalow with great bones and we are hoping to make some money. The house is currently rented with the lease ending 8/28/18. The house is disgusting inside, you can't see the floors, they have never thrown away a single piece of garbage, there was a dead rat in one of the bedrooms. Also, the lease says 'no pets' and they have a cat that they tried to hide. The tenant was there during the inspection and was trying to keep us out of rooms. She said the cat was 'not a good hunter' and that they got it for the rodents. The rodents are no doubt there because of the garbage. She said they would like to stay, unless 'you are going to raise the rent." Um, yeah, you aren't staying.

The lease says that they should be notified 60 days before the lease ends if the lease is being terminated.  Well, we don't close until 7/12 which is only 45 days before their lease ends.  I would give them their security deposit back if they would go early so we can get in and start working.  Any thoughts on how we should handle this?  The property management company appears to have been horrid as they told us they didn't have heat all winter (luckily for us there is a brand new HVAC) and surely they don't know the conditions there.

I would appreciate any thoughts.

Pennie

haha I will.   After reading these responses, I put our agent on notice of our expectations tomorrow.  People are going to be sorry I found Bigger Pockets.

our real estate agent was with us and was calling the other agent.  I think that the PM people were supposed to be with us for the walk through and didn't show up.  Tomorrow everyone better be there including a locksmith or you're right, we need to be ready to walk.  It is a good one, on a real up and coming street and we have been excited a the potential.'

edited to add:  Their lease is up 8/30/18, we close 7/15, so it is a short term time we have to deal with them.  Definitely they will not be staying on.  Also, it is under rented for the street, which has made me wonder if they were related to someone somewhere here to get that deal.  I mean, it could be a woman with a bad bf who had the locks changed (still not legal without permission) and we did see children's books outside on the porch so it seems there is a small child there.  But this is utter bull.

We have a contract on a house here locally and have yet to see the inside due to tenant in place.  Agreed to walk through today at 4 and we got there, no realtor or property management person and the tenant was home and wouldn't come to the door.  Call to their agent and she said tenant said it 'wasn't a good time,' but they had given her 36 hours notice.  Also our agent discovered that the tenant has changed the locks.  We are contingent on inspection but this tenant isn't cooperating at all.  Their agent said tenant agreed to 3 pm. tomorrow but we both left work early today and she could do the same thing tomorrow.  Does the mgmt property have any recourse to make them cooperate?  Thanks for any response.

I’m doing this now. We have just gone into contract with our first property. I have another profession and I’m taking the course primarily for working my own investments. Following  for responses. I’m sure there are smaller brokers and firms that allow affiliate brokers to do this. 

Hi, we are in Memphis.  Thanks for all of the responses so far!

My husband and I need a real estate agent to help with finding investment properties. We have been using our neighbor, who is a friend, but isn’t hungry or imaginative and we’ve lost 2 deals already waiting for him to be available.  We were trying not to hurt his feelings but he isn’t going to be on our team.  Any ideas?

You lost me at 'snake infestation.'