All Forum Posts by: Mike M.

I've allowed my tenants to get a puppy; hopefully it'll work out well. They have been responsible for the last 9 months I've had them, so we'll see. I plan on being a pet friendly landlord. I like the potential to add to the bottom line and serve a market which sounds under served. Not to hijack the thread, but I'm intrigued with the number of non-refundable pet deposit requirements. Does anyone have experience with refundable vs non refundable? My agreement has a refundable $200 deposit with a requirement the tenants pay for flea treatment at the end of lease. I'm hoping the refundable acts as a bit of a carrot, instead of the tenant chalking it up as a loss from day 1. Naive, brilliant, or neither?

I had the BBB call me one time. Took me forever to realize she wasn't a motivated seller! The folks who I'm closing with next Friday also checked out my LLC on the BBB and asked why it was only rated an A. Had to try and explain that it's not really a business that is going to get a lot of reviews and that the A was just for length of time on BBB. Go with the flow, I suppose.

I have a few I'd like to say but never would because I'm not that dumb. The way you approached it - honesty - is the best way.

Christina R. Sorry it didn't work out. Had a similar situation where an offer on 15 doors came up. Gross rent to price ratio was 0.8%. Talk about bleeding cash. On to the next.

Cynthia Long Welcome! I'm in Longview as well and have two properties with a third set to close soon. My experience has been it is awfully hard to find sellers who will finance for long enough to succeed in a buy and hold strategy. Most want huge down payments and short amortizations. I'm sure some are out there, but I think they're few and far between. Tom Keith and Wes Brumit are two other locals who may have a different take on our market.

For a flip there's a lot of additional costs. Realtor fees at selling, taxes, insurance, utilities, cost of borrowed funds, etc. I wouldn't want to run a $30K rehab an hour or so from my house unless I had rehabbing down to a science. And it sounds likely that, as mentioned before, some buyers doubt the ARV, repair cost, or both.

Congrats! I have a travel trailer for recreational use. I can tell you they aren't well built so save your pennies for maintenance.

P.S. Once you prove he's there illegally, and knowing no more than what you've shared with is, I wouldn't be concerned with the text. Have you done anything illegal, discriminatory, etc. to be worried about?

Wayne brings up a good point about jurisdictions. Do you have a contract with AirBnB to review? The other item I think you have to get clarity on is the payment history. Don't settle for emails every other day. Call and demand to talk to the highest level manager to get what you need. Any attorney will likely do a double take off you come in and say you think your renter is there illegally. Best of luck - wish I had more to offer.

Perhaps contact adjacent property owners and see if they are interested in it?