All Forum Posts by: Tarcizio Goncalves

Hi @Kenny Dahill, thanks for reaching out. 

In both evictions I had, I rented to two roommates. They had a fight and one left. The other that stayed, couldnt afford the apartment by themselves. Not sure if not renting for roommates is the answer so I will have to figure out what I can do if I run into the same situation again. 

The PM did try to negotiate, in fact, he put one of the tenants in a payment plan and they made the first two payments in the payment plan but then fell off the plan. At that point, we went through with the eviction. 

One tenant started getting behind on their payment the 6th month while the other was on the 4th month.

These apartments went on the market in the winter so the rental market was slower. I took the first tenants who met the screening criteria.  

Wondering if you have any additional criteria for renting to roommates as opposed to a family. Looking for some advice since the two evictions I went through had to do with roommates fighting and one leaving and the one that was left behind couldn't afford the apartment. 

Hi @Angelo Mart, might consider section 8 if headaches continue. The third tenant that I was afraid of not paying, she ended up paying very late on August 5th. This is the first time she was late. I have very good tenants. Of the 4 tenants that are left, 2 always pays me on the last day of the month and the other two pays me before the 5th. Hopefully I can find similar tenants for the two units I just evicted. Thank you Angelo 

Yea, should have mentioned that earlier. I would say that the neighborhood is a C class neighborhood but things are improving slowly. Even on C class neighborhoods, how can one keep tenants in check and keep them paying on time?

Hi Richard, thanks for the message. Yes, the property manager checks credit and check for prior evictions. I dont think they check with prior landlords or references. In terms of screening, their guidelines are more rigorous than mine when I was managing these myself. Not sure what happens after the fact - I am hoping they are firm, yet fair with the tenants. Once they present me the tenant, he/she looks great on paper. Just thinking what could be the issue with two, possibly three vacancies out of 6 units under management.

Hi James, thank you for the reply. 

two triplex about a mile from each other

these are not inherited tenants - these are tenants that the property manager rented to upon my approval

management company income criteria is 3x the total rent and their other expense cant exceed a certain percentage (cant remember right now)
All tenants met the management company and I approved them based on the information they presented to me. 

Hi BP community,

Wanted to run an issue by you all and hopefully get some advice.

I have 6 units under management through a local property manager. Last month, we lost two tenants due to non-payment. I had to evict them. This month, I have a third tenant that hasn’t paid rent yet and I am hoping we don’t have to evict them either. I am hoping they are just running late on their rent

Wanted to know if the property manager could be to blame here. Just wanted to get some advice before I have a serious conversation with them. Any advice on what questions I could ask and what to expect from this conversation? Looking to see what property managers could do to prevent vacancies due to non-payment, in this case, possibly 50% vacancy. 

Thank you all

Hi BP community,

Looking for some advice on how to find a new market to invest in. Currently I own 8 doors in RI and wanted to diversity and go to another part of the country to invest. Finding myself overwhelmed researching several markets around the country at once to try to find one. I was just looking for some advice on how to search for a new market to invest and was hoping someone could shed some advice. Any useful websites that one can share? Two things I know is that I want to buy a small commercial property (strictly residential) and I want a red state – more landlord friendly. Any advice in researching a new area?

Thank you all

Hi BP community, 

Looking through the internet, I stumbled across 100s of pieces of lands in Okeechobee County for sale, a lot of them in the 10k range. Trying to see if anyone has looked into buying land in Okeechobee County before. Two of my friends already bought lands but I wanted to do some research before getting myself into this. If anyone buying land in this location? Thank you

Thank you @George Blower for your insight. I really appreciate it

Thank you @Brian Eastman for all your insight. One last question. If I go the 50k or 50% route, I will have 5 years to pay that back correct?