All Forum Posts by: Stone Teran

 Yup.

Limit the amount of stuff that goes on the personal card, reimburse as quickly as possible and keep good records.  That should keep you safe.

I agree with all the previous responses.  In my last purchase, the short-sale bank wanted one title company and my hard money lender wanted a different title company.  The seller and I didn't care.  They battled and the big bank was more pushy and the hard money lender relented.

I accept prepaid rent but I never ever promise or offer benefits in exchange.  The reason is that some tenants have mastered the "lure of the big payout" and landlords, especially new or poor landlords, fall victims to it all the time.  They are enticed by the promise of money and allow things they shouldn't.  I've been promised rent paid in advance several times and have only received it once.  All those other promises "fell through".

This is all a matter of opinion but I would evict my parents but I wouldn't chase them with a judgement.  The key thing is that the apartment needs to make money and they prevented that from happening, so eviction was absolutely the right move.  They owe you money but they also spent countless hours caring for you, so I would forgive the debt and move on.

 Excellent write-up.  Thank you.  The above quote summarizes my eventual goal.  Right now I have to lead my guys by example in the trenches to keep costs down but I want the business to grow so I can be an office guy and not swing a hammer unless the sh*t hits the fan :)

I don't live at the property.  I've gone above and beyond to get rid of the mouse but the guy gets mad and isn't reasonable.  Every time we talk the situation gets more tense.  He doesn't want to leave.

I had a semi-drunk tenant tell me he heard a mouse in the wall.  He was animated and got loud and then wanted to fight.  I backed up and in the whole incident he bumped me and there were witnesses.  Officers came and charged him with assault.  He is in the middle of his one-year lease period and the rent is current.  Should I put a 30 day lease termination notice on his door?  I assume there's not a faster way?

Some REO's are like this. The banker just wants it sold and doesn't want to mess with annoying contingencies, etc. Price all those risks into your offer. Also, I would stop reading so much into what you think other people thought about the house.

I had a similar problem.  We bleached the floor and paint the walls and floor with one coat of original kilz, then added regular paint and new carpet and it was perfect.  The smell might be gone from the floor but still in the walls, if I am reading your description correctly.