All Forum Posts by: Jennifer T.

@John Lindemann, I'm glad it worked out for you, awkward conversation and all.  I compare this type of situation to doing business with family/friends.  It can often work but, when it goes bad, it gets awkward and sometimes really ugly.  And that is the downfall.

I've done it twice.  One was a great experience, the other was an okay experience.  I always make sure the scope of work and amount we agree on is fully understood by both parties.  It is something I would do again, but always gingerly and only for fairly small projects.

Wow!  I wanted to scream with you just reading your story.  I'm picturing someone at firstkey blowing up a pic of a FedEx envelope and printing it at 1,000% bigger...than getting out their magnifying glass to check for proper sealing.  So ridiculous.

But at least it sounds like things are working out in the end. 

I've had good and bad experiences with both.  Though the only time I was ever out and out lied to was car salesman.  I was mailed an offer to buy a new car at a particular price with a promise of my current car being a trade-in for a particular price.  Lamb to the slaughter, I know!, but I went anyway.

Long story short, they told me they couldn't honor my mailer because my car had a salvage title.  Offered me $1,000 to "get it off my hands".  I went home incredibly upset, because I knew I hadn't bought it as a salvage title.  Was on the phone with the bank, who had my loan and therefore my title, multiple times the next day trying to get to the bottom of it.  Got so upset and wasted a lot of time for NOTHING.  My title was fine.  It was not a salvage title.  They were just trying to steal my $7K car for $1K.

Ironically, the salesman who sold me the (above) car I am talking about four years previous to this, was absolutely fantastic.  I was nervous about my credit and knew they had a special in-house credit financing.  But when I told him my credit score, he told me NOT to use their in-house financing because that was more for really low scores and mine was fine.  He asked if I belonged to a credit union and, when I said I did, he told me my best bet was to get a pre-approval from them.  I mean, seriously?!?  A car salesman who actually sent me OUT of their dealership to get my own financing because I would be better off that way.  I returned the next day...preapproval in hand...and waited for him to buy the car I wanted.  Which he sold to me at below wholesale blue book price.  I have referred countless people to that dealership and him specifically.

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As for REAs, although my experiences have been limited, they have primarily been awesome.  My first REA really held my hand through the process.  I was a first time buyer and buying a duplex, to boot.  There were a lot of ups and downs and she really went to bat for me.  But then, like many of you had mentioned when talking about good agents, she has a stellar reputation in the industry and has been in business for over 25 years.  She has a steady stream of clients and referrals.

The only bad experiences I've had...and these are fairly minor...are agents who seemed eager to get my business.  But then don't call me back in a timely manner (or at all) when I have a hot lead on a house I want to view.

Also, when I was displaced in Miami after Hurricane Katrina, I contacted an agent about finding a short-term corporate apartment...which he had specifically advertised was his specialty on a CL ad.  Yet, even though he knew I was only in Miami temporarily and I had already explicitly told him I did not want to buy a condo...ALL he wanted to talk to me about was these "great underground" deals for below market prices on new condo high rises going up.

So...wait...let me get this straight.  I need housing NOW.  I've told you I don't want to buy real estate.  And your answer is to sell me a condo I couldn't even move into because the development is still being built.  Am I understanding that right?  Did we just land into an alternate reality where the words I say suddenly have a totally different meaning from what I think they mean?   

I agree with the other PPs that the carpet is probably wear and tear.  I'm assuming it looked in the same worn condition when you bought the home.

But, when returning the deposit, it needs to be returned to her estate...not necessarily her relatives.  I don't know what the process is for finding that out, but I'm assuming you don't actually know what was in her will or if she had one or if her estate is still in probate.  Maybe she has 4 children and, right now, only two of them have contacted you.  Maybe she left all her worldly possessions to her favorite charity and none of her relatives are entitled to the security deposit.

The gas inspectors don't work for your LL.  They have no reason or motivation to just pass an inspection if the repairs were not done properly.  I personally would feel comfortable that, if the repairs pass inspection, they are fine.  Though it wouldn't hurt to call the gas company back out a couple weeks after the gas meter is reinstalled just to make sure there are no leaks.  I believe this is a free service in most places.

I don't know for sure about Houston, but I wouldn't be surprised if the request to bring the gas meter back has to be made by a licensed person, which would be an additional layer of protection that the repairs were done properly.

Love your ambition!  I cannot even tell you what an advantage it is to know what you want to do for a living at such a young age.  I'm 41 and didn't get the real estate bug until a few years ago.  I wish I had known this is what I wanted to do 20 years ago!

With that said, I'd recommend you get a lot of education about REI first before jumping in. Learn how to analyze properties for either a buy and hold strategy (landlording) or fixing and flipping strategy. Learn about both of those strategies...the good, the bad, and the ugly. Learn about different types of financing and how they work. Learn about construction/rehab and its costs.

Start looking at listings for houses for sale and at rental listings.  Not necessarily to move on anything, but you will start getting a solid feel for houses prices and rental rates in your area for different neighborhoods. 

You will face challenges because of your age.  You literally cannot sign a contract with anybody...not for a house, not for a loan, not even for repair work...until you are 18.  But obviously your dad can.

When you turn 18, you will initially have no credit history.  Mortgage lenders don't like that.  Start working to build one when you're 18.  Get a credit card, make small purchases, and then pay them off each month.  And always on time!  Read up on the factors that will improve your credit score/report.  The good news is, people start off with a good credit score.  They then just have to add to their history and maintain the good score they are automatically given.  It is MUCH, MUCH easier to maintain a good credit score than raise up a bad one. 

Since you now have the LL's address, send them a certified letter that outlines the problems you are having, attempts you have made to get in touch, and that you need to hear from them within 5 business days (or something like that).  If you are able to set up a "Rent Escrow" account with the courts in your area, I'd also let them know that will be your next step if you do not hear from them within the allocated timeframe.

I guarantee, if the rent check stops coming in, someone will be in touch with you.

Of course, the downside is, they can fix the problems...decide you are too much of a PITA (not saying you are)...and give you a 30-day notice, since you are month to month.

I've rented (me being the renter) in three totally different areas of the country.  So. CA, Miami, and NOLA.  It was always one month's security and first month's rent required by or before move-in.  Never last month's.  That is also what I require now that I am the landlady.  On occasion, I have also asked for last month's rent if a potential tenant looks good, but is moving in from out of state and has not secured a job yet.

And, while I think first month's rent and security equal to first month's is pretty typical, I'm sure there are some areas where local customs can also demand last month's rent and/or a higher or lower security deposit.

In my current city of NOLA, some of the big apartment complexes will run "move in" specials.  Like low or no security deposit, but that would be highly unusual for a house/multi type of rental.

I recently had a similar situation.  A couple rented the place and then broke up a couple months before their one-year lease expired.

They actually put up with the situation and stayed living together for those couple months so they wouldn't have to break their lease.  They are forever in my mental book of "Awesome Tenants" for that.  In fact, I didn't even know they had broken up until they gave me their 30-day notice and told me they would not be renewing the lease and why.

Fortunately, there was no domestic violence aspect.  And they both moved out, neither one was staying.  They both informed me that he would receive the entire amount of the security deposit, but I had her sign a "Release of Rights to Security Deposit" form that I codged together from a similar document I found here on BP.  Just to make sure I had it in writing.

I used a gift for some of the down payment on my personal home.  My lender only required the person gifting me the money to write a letter stating that particular amount of money was a gift and had no expectation of being repaid back...(or something to that effect).