All Forum Posts by: Stone Teran

It depends, but be aware that a notice to move is sometimes another rent delay tactic.  The landlord thinks it's a waste to file an eviction on a person that is going to move out soon, but then they don't move out and got to live there rent-free a little bit longer.

Evict.  Everyone has a sob story.

Any advice?

In the past, I've talked to a few banks and I went "through the process" with 1 bank that had the best numbers up front.  The refinance I am pursuing now is much larger so even a .25% difference in rate is huge.  Is it OK to "go through the process" with 3 banks and have them compete against each other on rate?  All 3 banks are in the same range of rates but I've learned they can shave a little off the rate if they really want your business.  I plan to have the primary bank get the appraisal and have the other 2 use that same appraisal.  I really don't want to waste their time but I do want the best rate.

If you don't have a lot of worries about the property (e.g. inspection concerns), then I would pay the earnest money that they request.  You'll get credit for it at the closing.

 Yes and not a good idea.  People don't want to wait 2 weeks to see a property.  Obtain control of the property, clean it up, take good pics and you'll rent it out easily if it's not nasty and the price is reasonable.

Different banks will ask for different things to get comfortable that your income is legit.  So what if they require you to show them a lease?  Cough it up.  It's not like they're asking you for financials reviewed by a CPA (which would be an out of pocket expense to you).

I couldn't find any suggestion on a carpet cleaner with a heating element so I purchased the Bissell Big Green machine for $400 that does not have a heating element.  I'm happy with it.  I'm sure it breaks up grime less than true steam but it has already saved 3 carpets from being replaced!

 Which you'll never collect.

All responsibility should fall on the tenant, who you have leverage over.

If you feel this may happen again, evict.  Otherwise, don't unless all the neighbors are terrified.

I should also ask if anyone if getting lower than a 4.5% rate on a 5-year ARM (for >5 multifamily).