All Forum Posts by: Robert Fornwalt

I got some good information on a house that would be on the market soon because the owner had recently died. I talked to the neighbors and was able to get in touch with the attorney that is handling the probate case. here is a little info,  male age 85 with only 1 son that he hasn't talked to I  10 years that lives in Florida house is in Michigan. I was able to walk through and it seems solid but badly needs updating. when I asked how much they are asking they just keep coming back with make us an offer. son isn't coming to Michigan to handle this so the attorney will be taking care of everything. houses in the subdivision that sold recently have gone for between $102-$109 per square foot. most of the homes in the sub are 2500 SQ. foot this one is the smallest home in the sub at 1546 SQ feet. looking for any and all help on what I should offer. houses go very quickly is this area usually less than 2 weeks. so any help would be much appreciated. thanks in advance.

I don't charge late fees I give discounts ie. I add $100 to the rent and if it's paid on time i knock off $100. so if the rent is $1000 and is do on the 5th of the month it's $1100 if they pay before the 5th it's $1000. most people love a discount. that way I don't have to due late fees and send notices out. I find that if they miss a payment on this program then something is usually wrong.

tough spot to be in for sure. looks like you're about to learn a lesson. hopefully it all turns out well. some say to treat it like a business others say go with your heart. any way you cut it looks to be a tough choice. i was told once that there are no such thing as bad tenants just bad landlords. so if you let her get to far behind on her rent that she won't be able to catch up try and remember it's not all her fault. i'm not saying to evict her. but you might want to take away the shovel before she gets in a hole to deep.