All Forum Posts by: Tapiwa Wakatama

Hi @Jarred Mussen,

I'm fairly new too. I wouldn't bite, but then again I am risk averse. I'd want to know/ verify everything possible before committing. Why won't they turn on the water? 

Hi @Eunice Davordzi,

Generally not, but it is possible. See this article (http://www.fha.com/fha_article?id=574)

for some general information. You may also want to run your particular scenario past your loan office.

The tenant contacted my PM a few weeks ago letting her know they need to leave due to personal safety issues (ex-marital stuff). Tenant says they won't renew the lease on 10/1/16. Actually the tenant is leaving earlier, but will give a 30 day notice. I said that's fine since it's a question of safety.

When I checked my bank balance on 7/2/16 (around 5am) I was shocked to see the rent missing. So I sent the PM a text alerting her to this. She contacted the tenant around 9am, and the tenant is like 'I'm still at the property.' The tenant actually sent the PM an email around 1am on 7/2/16 re-stating intentions to leave, but never specified a vacate date.

Being that this is my first property, I started sweating bullets and combing the internet for information. I didn't find anything particular to my situation.

I emailed the Section 8 office this morning. They replied saying 'We terminated payments as of 6/30/16 because the tenant moved out. You can contact the housing counselor on 7/7/16 when they get back.' The office manager cc'd the substitute housing counselor. I fired an email to her, and she said 'if the tenant is still in the unit we can pay for July but the tenant will need to contact us or pay the rent on their own.'

So the PM contacted the tenant this morning letting them know to call Section 8 to straighten it out, or pay. If not, the eviction process starts tomorrow. The tenant said "Can you be lenient, the other owner didn't get paid for three months?" The PM said the tenant needs to call Section 8 since they'll pay once it's confirmed they're still there.

I agreed to give the tenant till Thursday to speak with their officer. Tenant also states they're going to the office today to drop off some related paperwork.

I don't know if anyone here has experienced this type of thing, but I wanted to share.

@JJ Conway, @Thomas S., and @James DeRoest

Thank you so much! Every reply in this thread has helped me immensely. The repairs are being taken care and I will consider everyone's advice. I hope others will find benefit from this thread too!

@Joseph Landis I'm hoping to have the door fixed today. I'll remember your point about being objective when it comes to statements from tenants. So far the PM has been on top of things comes recommended from trusted individuals. Nonetheless, I do need to educate myself on managing the manager.

@Robert Melcher I hope to add that to the lease at renewal time. Thanks a lot for mentioning that!

Thanks for your replies!!!

@Michael Noto 

I forgot to mention that the PM did forward pics of the damaged door.

I just called the Sheriff's dept. and they confirmed the case number, but it won't be available for three days. I was getting nervous because crimereports is showing incidents in the area as recent as 3/31/16.

I looked at the crime map on Trulia and the area is green. It it still is, but now I notice the text box shows regular theft and robberies. Personally, I feel comfortable driving around the area.

The tenant was already in place from the previous owner/ investor. Tenant was ansty in the beginning because the previous owner resolved zero complaints. The tenant seems comfortable now that the current issues are being promptly addressed.

@Mike Sattem 

I'll keep the tenant screening process tip in mind towards the end of the lease. And also make sure the tenant wasn't at fault for this incident. I really appreciate you sharing that point about your first property! It really makes me feel like I'm not alone.

Thank you both!

Greetings everyone,

I closed on my first property (tenanted) on 2/18/2016. I'm both excited and nervous. I'm excited at the prospect of building wealth through real estate. I'm a little nervous about the risk. The investor mindset has not fully settled in yet. Buying a new car is less risky in a part of my mind than investing even though, cars and the like do not produce income for the most part.

I got a text from my PM the other day. Someone tried breaking in by kicking in the door. They didn't get in, but the door was damaged. I immediately did a quick search on the BP forum for this topic, then told the PM to get me the police report. The tenant said they were with the cops at the moment, and provided a police report number shortly after. The PM advised that it may take about a week for me to get it.

A few hours later I hopped on crimereports, and didn't see any incidents at the property. I just checked again with the same result. I don't know what that means.

So I'm resolving two issues in less than two months. Granted, I was mostly aware of the first issue before closing (fixing a cabinet and outlets).

With that in mind, what is everyone's experience when starting out, or acquiring a new property?

Is it reasonable to have issues come up early in this process?
Has anyone heard of a tenant giving a false police report number?
Am I doing the right thing by fixing the door right away, or should I have received verification from the police first?
Do you mainly profit on your properties during the first year?
Is it OK to trend into a profitable state with a property over time?

Thanks!