All Forum Posts by: Russ B.

The fun thing about the internet is that you never know for sure who it is that you're talking to... at least not without further verification. 

For example, based on what I've seen in this thread, I have to wonder if this person is actually an evicted tenant or something along those lines? 

Once you get past this, I'm sure you'll be much better prepared in the future do avoid the same landmines. All of the above are common issues that have sunk many a new landlord. 

Note that it's critical all the utilities stay on for the other tenants - this building will soon become a foreclosure if they don't. 

Inherited tenants are always risky, especially in a property that doesn't look like it's been very well run (ie, poor condition, liens, lots of deferred maintenance). These buildings often come up for sale because the current owner is failing - so there's a better than average chance that any tenants weren't screened right, aren't paying, etc.

As for the deadbeat - I didn't see what state you're in, but you do want to make sure you know the laws there and follow them exactly (especially if you filed yourself). Since this is probably your first eviction, you want to be extra sure you're not about to walk into another problem. 

These people often get free lawyers to go with their free rent, so it's critical that you show up prepared, and can show that you did everything right. 

For example, there's a notice with required language on it (which varies by state) that must be served X days ahead of filing - if you didn't do that correctly, you might get to court and have it thrown out. If you accept a partial payment in some places, it can get thrown out. 

Another thing to look out for in certain states, is potential claims that the unit is "unlivable" - if you're in a state where they can withhold rent on their own (vs having to deposit it with a court), you really should do an inspection.

Maybe install one of those RFID readers at the door along with the automatic closer, and give each tenant a key fob that opens it so there's no searching for keys. Then, set up an annoying alarm that starts beeping after it's been open more than 10 minutes. 

Also, give proper notice of the rent increase you've been attempting, and then don't accept partial rent after. If he tries to give you the old amount, refuse and give a notice. 

You can't treat him differently (including better) because of age.. That would be discrimination 🙂

If you back out now, the "buyer" will be stuck with however many hours of legal bills.. which sounds like a pretty fitting outcome. 

I would ask your lawyer one last question - am I safe to walk? Do I have to give back their deposit after all this? (ok.. two questions) 

Since you must be way past any agreed closing time, I'm guessing you're free to do whatever you want by now. 

Then, I'd tell em the price isn't changing, and you're terminating the contact in 3 days (or however long makes sense there), if the deal isn't closed by then.

Sounds like the landlord might be clueless, and is likely to get burned. If he doesn't know to mention pets in a lease (and maybe doesn't even have one), then I'm sure he didn't screen very well either. Maybe he'll turn up here when they stop paying rent 🙂

Otherwise, simply becoming a pain in the a** and complaining about any violations you see to him, the HOA, code enforcement, the cops and anybody else that comes to mind can have an effect (although it may also just cause them to hate you). This is something unhappy neighbors have done forever.. with mixed results.

Alternatively, maybe just a fence or some well placed shrubs would help? Bamboo is an awesome screen that grows fast - although you would want to be careful with it in AL (read up on how to control it first - it spreads underground, and really aggressively in that warm climate). 

As @Christopher Brainard suggested above, simply buying the place might be an option too, especially if it's like I'm imagining (a crummy property in a nice location). You may be able to get it for relatively cheap, bring it up to the standards of the neighborhood, and then choose who lives there yourself. 

I like your idea here - you can give them something, which they'll see as a pleasant surprise, but it doesn't take the form of a rent deduction (which some people would try to take advantage of). 

This would probably be my reply to every one of these guru threads..

Most of them likely do give legit info, but if your goal is to invest, remember that the 40k or so that they usually charge would do really nicely as your first down payment.

If seeking out the right information on your own seems too hard.. dealing with the issues that come up in investment properties is much harder.

If these guys were making real money by partnering with their graduates (as many claim to do), then why create such a high barrier to entry with those huge upfront fees? Wouldn't they prefer that you go invest that money, so they can instead share in the kind of insane profits their stories describe?

I'm not against paying for education.. I spent way more than that on engineering school, and would do it again in an instant. But, that was only enough to get me to the level of "beginner". I had to actually work for a few years before I started to be any good at it.

Real estate is the same way. There's a certain amount you need to know to get started, to have a decent shot at success (which you can get from a few books, from BP, etc). After that, there's really no other way to learn, than to get out there and do it.

I'm sure a real mentorship (which I'm not convinced you can actually buy) would be a nice comfortable way to get started.. but honestly, the type of person who needs this sort of handholding, might not do well owning a business...

50 bucks? Lol.. the IRS chased me this year for 11 bucks 😅

Pretty sure any ACH or credit card transaction is reversible if they claim it was unauthorized. The only way around it would be to take bitcoin or cash. 

That said, chargeback fraud is something of a well known problem, and it's definitely criminal. It can be hard to prosecute, but with somebody who used their own account to pay rent - that's a pretty open and shut case. No court is gonna believe that somebody stole their account number, and used it to pay their rent! I would call the cops, and then the FBI.. good chance one of em would run with it. 

I'm guessing, at a minimum, a judge would give you pretty much anything the law allows in such a case. They tend to frown on fraud. 

Hopefully you didn't neglect to do a required step with respect to the deposit. For example, in Ohio, you have a limited time to provide an accounting of where it went - else, they can sue and get an automatic win.

If not, then yeah - show up in court and have at it lol. Just make sure you bring everything you'll need.. Judges love to stick it to people that show up unprepared almost as much as the ones that don't show at all. 

Maybe there's a place where you can look up what was filed, before you're officially served?