All Forum Posts by: Kyle J.

Jim Q You can deduct all the things you mentioned in your original post, including the rent you didn't receive from the time the tenant broke the lease and moved out to the time it takes you to re-rent the place (provided you make reasonable efforts to find a new tenant). Note that you don't have to stop the clock on the rent when you get ANY applicant. You are allowed to do your normal screening and find a QUALIFIED tenant. In other words, you don't have to take the first person that comes along. You can deduct lost rent up and to the time you find a tenant who meets your normal standards to rent to. Good luck.

I'd serve the tenants with 3-day pay it quit notices. (It's a 3 day notice in my state but I believe it's a 7 day notice in your state.) Maybe it'll get the tenants motivated to help you clear up this non-payment issue with Section 8.

I'm not familiar with Connecticut law, but I Googled it and found the following links/information (sounds to me like the Marshals have to serve the notice):

http://www.jud.ct.gov/Publications/hm014.pdf

http://www.ehow.com/info_7737484_eviction-process-connecticut.html

I don't. It's not a necessity and it's just one more thing that can break.

Tom J. - Good to know. Thanks for the tip.

I don't know any more about the guy's story than what he told me. He wasn't a personal friend...just a guy I met the one time. (I bought his stainless steel refrigerator from him that he didn't need in the apartment he moved to -- which I'm putting in a new rental I should be closing on tomorrow.)

Coincidentally I just spoke with a guy yesterday who mentioned that he was offered $3,000 by his bank to move out, so he "rushed" to find a new place and move out in 12 days. Then, once he was out, the bank refused to pay him.

Carol Mckenna Go to meetup.com and there is a group out of Antioch called "Mt. Diablo Bank-Owned Real Estate Fieldtrips". You should be able to search by your area and maybe find other groups around you also. Good luck.

I'm in the opposite side of the state as you...the northern part (a little south of the capital).

I'll post my response again here since you deleted your other post right after I sent my response. LOL

Hi Carol,

I'm also from Northern Ca (Lodi/Stockton area) and not too far from you. Unfortunately, I don't do any wholesaling so I don't know how well it works or doesn't work in these parts. However, there are several REI clubs in your area, including one in your exact city, that regularly meet for networking and "field trips" to tour properties in Contra Costa County to (according to their web info) "analyze & calculate holding periods, repair costs, ROI's, monthly cash-flows, profit margins, risks management, property management, and overall property performance."

I can't personally vouch for this group at all since I've never attended any of their meetings; however, I am planning on attending one of their field-trips just to check them out and maybe learn something. Also, there's no comparable REI club closer to me that offers this.

If you're interested, I could send you the name of this club. Again, I'm not trying to sell you on this club because I'm not even a member myself. Just throwing out some info for you in case you're interested in networking and/or talking to other investors in person who could potentially help you out with your endeavors.