All Forum Posts by: Sandy Gabin

Hi Will,

So to my understanding, cash flow would be like 1471? I got that number by subtracting market rents-expenses= 1471

Is this right? Because if it is, then my ears are ringing ching,ching, CHING!

Hi BP family!

I have inherited a tenant that has cancer, smokes and has pets. I spoke with her yesterday because she was nice to pay the rent for this month. We are going to meet this weekend, and since she lives month to month, where there is no lease, I was thinking that my last option would be is to have her not pay rent for the month of August, and she could hand me the keys by September 1st. My question is, should i have a letter notarized and an attorney stating that she will not pay rent for the month of August but she would have to hand the keys by September? Or just do a formal letter where i sign and she signs take it to the notary and then we are good to go. I would really appreciate your advise.

Hi Jennifer,

Did you call the landlord and did you leave a message? I would say to give the landlord until tomorrow. If the landlord doesn't respond, then should take this to the next level? I don't know how nice your landlord is but this should be all about being responsible. Hope this helps.

Mike,

Wow, this really is a big problem, a problem that you never asked for. Looks like some of us have given you plenty of advise, but i will give you one, pray to the Lord Jesus to help you and I hope you can solve this problem soon. take care!

Hi Alex,

At first I was using Avail.com to help me out with putting the pics of the unit, gather information of the apartment, and from there it would also help you and give you lots of advise on how to screen future tenants. It really worked for me, but there was a small fee. But i know no longer use it. Hope this helps.

Hi Bruce,

What about Trulia or Realtor.com? Have you looked at these websites?

Filipe,

I have a question, what if i inherit a tenant with Section 8, and I found out yesterday that Section 8 froze the rent because the tenant reported that there is black specks in the water, if i decide to fix the problem and let's say that it would take me 1 to 2 weeks to fix, can Section pay me retroactive for the past week or weeks? Because the rent is too below market and yes i need to do fix kitchen and bathroom also. thank you in advance.

Hi Tony, if I was in your position, I would be jumping for joy! I know it is hard to say this but, the tenant is leaving your property and you will not have the big headache anymore! So that is a plus! However, about the rent, I hope your attorney can help you and advise you what would be best if to go after your money or what? If you don't want future landlords to go thru this old tenant of yours, can you go to the Housing court and put the tenant's name on a list that he or she was evicted?(and thanks for thinking about us landlords! I greatly appreciate it!) If you think that it is worth your time and maybe money to take this tenant to court, then go for it, but if not, again seek advise from your attorney. Take care and wish you the best!

I highly agree with Moises, I had a prospect applying for one my units, and no matter how much i liked the prospect, they were red flags coming up. So, I had to let the prospect go, because the prospect was paying late already the rent every month where she was living at. Sometimes, you got let go to people or things that may cause you headaches, headaches that can be avoided in the beginning. Hope this helps.

It's a great idea only if you are a handy man! I have to tell you that I was fortunate enough to buy a quadplex and I have been living it for 4 years. I will be honest with you, I didn't have much money to fix the units, but thanks to my husband, we became a team and we were able to fix the unit after I had evict 2 of the tenants that were already living in it (my neighbors). It took us like a year, but after that, I was able to put good responsible tenants, and pay me on the 30th or the 31st of every month. So for me, at first it was negative, but i was able to turn it to a positive outcome. At the end of the day, you will know when your heart tells you what to do.I wish you the best!