All Forum Posts by: Joel NA

We had the same dilemma and chose an umbrella policy on top of rental insurance - read about it here on bp so there are already some good forum discussions about this topic I think. The umbrella certainly adds to monthly insurance bill but no quitclaim/LLC//bank calling notes problems and we feel protected.

I went with an umbrella policy that supplements each properties' individual policy...per advice from BP that I read about a year ago! Great thread...

Mark...I make my student renters sign one lease (for reasons mentioned above). I do get separate checks for rent, but I make them send in rent at same time as roommates. One lease per unit seems to work best. Good luck!

Thanks for picking up this older thread, Bob. I appreciate your thoughts (as well as those of the other posters).

No news yet...it's almost undevelopable (almost), so I'm kinda waiting around. Still keeping an eye and ear out though.

Thanks all for the advice....great responses!

I'm sending her a letter today...I may indeed seek legal advice but I'll definitely find out laws here. Good points about starting the eviction process now and proper documentation....

Thanks again everyone! Have a good 3-day weekend!

Hello all,

I just took over management of a property that has a deadbeat tenant in it. Lease ends in a couple of weeks. No rent for 3 months-- we're hoping that she moves out peacefully (she's wacko) and we can move on. If she doesn't, what are our options concerning stuff she leaves in the home?

Also, is it legal to keep deposit if she's three months behind?

I've been trying to get a hold of the sherriff's deputy that I've met through my dealings with this person just to make sure I'm doing everything legally. We haven't evicted because I just took over lease is almost up.

Thanks...

Thanks for the replies....my banker said he'd need 50% down....I may shop around a bit.

Sucks to spend money on something that's not going to generate anything. We're looking at preserving quality of life, though. We'll see what happens!

The 6 acre wooded lot behind my house is for sale. Lots of details I could relate, but the point is I would need to finance the purchase somehow. My thoughts are that I could wrap it up into my current mortgage, get a private loan or maybe even find a bank that would lend to me. I'm meeting with one of my bankers today.

Thoughts on creative strategies for financing a land purchase would be appreciated. I'm in the dark here!

wait...shouldn't any deposit have a record I can view online? I missed that...Tracking would be more difficult with the bank ATM cards probably...

Good points all-thanks. I'll check on the wal-mart Bank Bryan-- good idea

I worry about keeping things straight too...good points
I see why they don't want to use the internet system for rent payments, and I see why I should want to...it's a fine line when it comes to demanding too much from the tenants I'm talking about I think...

Maybe if I put the tenants in charge of a receipt book or something...at least that way those tricky, possibly anonymous cash deposits should have a record on their end.

It'd be nice if this just wasn't an issue!