All Forum Posts by: Fernando Roman Romero

I have all of my rentals, which in all is about 9, due on the first day of the month with a grace period through the fifth of the month to pay rent. After this I send out late notices on the 6th or 7th. I then send out eviction notices on the 10th or the 12th. Between the late notice and the eviction notice I am receiving calls and texts from tenants who can not pay or I am contacting them. Either way communication is key, if the tenant is not communicating I do not even entertain the idea of working with them. Now, when communicating with the tenant I find a specific date on when they will be paying. If the date lands on or before the 12th and is paid on that day, then I do not send out an eviction notice. If the date lands after the 12th I send out eviction notices with 3 days to cure (in accordance with Texas Property Code) or with the date the tenant told me they would pay. This is to keep them accountable to their promise to pay. If they do not pay on that day I file at the court (NO EXCUSES). 

I've only had to evict one person in the past year doing this. Otherwise I have tenants paying on the date promised plus late fees which in turn raises my monthly income. Of course I have only been doing this a year and my strategy is probably not very efficient for someone running over 10 rental properties. Any feedback or constructive criticism would be helpful as I do plan to grow in the future and would need a better way of dealing with late paying tenants. 

He is an old army veteran. Has some kind of lung issues and his wife had dementia and was in the hospital so he rented out the place to be close to her. She ended up getting out early and he was only there for about 3 months. They had planned on moving back home but he ended up getting admitted into the hospital due to his lung issues. He is now out of the hospital and wanting to return to the property due to it being only about 3 blocks from the medical district where he has his doctors and does his breathing treatments.

I can request proof of his admittance and wife's admittance if need be but I believe what he is saying is legit. I've met his kids who are in there 40s and I've spoke with people where he banks at to confirm income since he is retired and they spoke highly of him. So I am just wondering how I should go about this?

I have a tenant who terminated their lease early in writing due to medical reasons. They have called me back a couple of times asking me if the property was still available because they might need to come back. It has been a little over 2 weeks since they have moved out and are now wanting to come back to the property. I have already put the property up for lease but have had no applications turned in, only phone calls and text messages about the property. 

The tenant who wants to return has also been a very good paying and clean tenant. Just wanted to ask if I should let him back into the property? Should i continue off the same lease or create a new one? Are there any consequences I should be aware of?

I have a tenant moving into my property by Friday. I require the first month's rent and deposit upfront, and rent is due at the first of the month. Considering it is only 10 days till the end of the month, can I still receive a full month's rent plus deposit and then charge the prorated rent of June on July 1st instead?

I'm not really sure how to handle this and would love some feedback. Thanks!

Hello! My Current tenant has been late on rent. He lost his job and found another one fairly quickly so I set him up on a Payment Plan to pay back his owed rent for the half of October that he owes to December 2022. The Plan states that he will pay every 2 weeks beginning on December 9th (he had some complications with his hire date and started work a week later than anticipated). He paid the first payment and then made a smaller payment ahead of schedule and then stopped paying. He told me his brother passed away and he would be out of work for a few days. I told him I would work with him and asked him when he could make a payment. He gave me a date and I agreed that it would be okay. When the day came he did not pay and I went ahead and posted an eviction notice on his door giving him a week to move out (generously). He stated to me that he just begun work and wouldn't have a check for another week which is next Friday, his move-out date is this Monday. By this time he will owe all of January's rent + late fees as well. He has asked me to work with him but at this point I am not sure. He has been going to work I assume, because he is never home but feels like he is just digging himself a hole. Though I did tell him if he could get his Payment Plan up to date by paying his missed payments before the date of the eviction he could stay and continue his payments. But now he is trying to give me legal advice as to why I should not evict him because a judge will favor him in court. I guess the only thing that worries me about that is the fact that I forgot to take a picture of the Notice on the door and did not mail out one the day I posted it. Do I need to Post another eviction notice, take a picture and mail one out as well?

I have a single family home under contract and the bank I was originally pre-approved with didn't go through with the approval. So I contacted a local credit union and a local bank to try and get pre approved for an fha loan. I am wondering if it will be a problem applying with 2 lenders if I get approved by one or get approved by both at the sametime?

Thank you so much @Kendra Sutherland. They seem to live in the home according to the Lubbock appraisal website. The neighbor also told me that the parents live across the street and are almost always home. I have never house knocked before, should I show up with an offer and a contract or just find out a little about them and see if they are willing to sell and come with a contract and an offer later. Please and thank you so much for your tips and feedback!

Hi BP Family! I have been on forums for a while now. I haven't really said much just been hanging back and trying to learn but now I am tying to take some action. I would like to share with you all this house that I found and maybe get some tips on what to do. So while I was taking my dogs for a ride thru Lubbock last night, I came across what seemed to be a vacant house. There is shrub growing all around the yard and it is loaded with random things all around the house and not to mention the fence is basically rotting away. So you know I had to stop and check this home out! Well it was to dark to see anything even an address so I decided to come back the next day. Well why I was shopping on FB marketplace, I went to pick up my item from the sellers house. Well what do you know they lived right across the street of the house I had driven by the night before. After paying the seller for my item I asked her about the house across the street. She told me" you wouldn't believe it but a woman lives there and she is a hoarder and hasn't had any running water in the past few years." I was definitely shocked but she was willing to share information on how to get a hold of them and where there parents lived. So my question is how to go about the next step of purchasing this house. Do I send a letter? Try to find a phone number? Or just go knock on the door and see if get an answer, if so what to say? I kind of have an idea but would like some feedback on what you all think. 

Thank you all very much! Happy investing!

Thanks a lot @Cameron Lambo this is very helpful. The home ended up going under contract the day after i found it but I'll be keeping my eye open for the next one. Thanks again!

I'm new to investing and looking to buy my first rental property in Lubbock, Texas east of I27. Some homes I'm looking at already have tenants in place for the rest of the year or longer. I'm curious to the pros and cons of buying a rental property with tenants in place. What research should I do and what are some good questions to ask the seller?