All Forum Posts by: Curtis Mears

@Mandi Martinez

appears your contract did not have any language regarding not finishing on time. this leaves you with only firing him to regain control. I would sit with him and review all outstanding work and have him give you a timetable. I would verify that he is able to do the job. if not, then let him know you are discussing getting someone who can get it done. I have done this with my contractor. and I did actually interview other contractors. maybe walk through with a potential contractor.

add fir additional work popping up, were these issues that should have been known? they're are often hidden issues that you will not know until you get into it. but some issues should be known. I would ask why these issues were not in the intial quote.

@Mo Farraj

it would depend on the market. in raleigh, nice houses do sell in 1 to 3 days, but in other markets houses can sit and still be good deals after a week or more. if you are looking for buy and hold, then you do not need to buy below market value. depending on how the numbers work out, buying at market may still work.

personally, I have bought many houses through agent and MLS that cash flow and have appreciated. some of it is market determined. in my area, it is much more difficult to find deals that make smart on paper.

@Josh Thomas

based on you're description, I would rent to them but increase the deposit. in my state, I can max out at 2x rent for a 1 year lease. I have done this several times. it provides a level of comfort knowing i can conver 2 months rent or some additional in damages. it also requires the tenants to come up with more cash so they are more vested in my property.

@Tom Ott I have a hard time believing this study since in raleigh, houses in the low 200k rent for $1,300 to 1,500. so I do not believe their numbers. having said that, raleigh is getting difficult to find deals that provide positive numbers. the market had increased significantly in the last 2 years or so. looks like they simply took average numbers and did not put any real work into the analysis.

@Dean Attali do you have a paragraph in the lease that says the house was leased as is with no responsibility to add anything? if so, then tell the tenant that you are not adding items because he would like them. unless there is a safety issue, I would deny his requests. also, why are you paying a management company if they are not dealing with a tenant they placed? you need to address this with the company. it is a good idea to offer him to leave as he will always be a problem tenant, especially since you have already set the tone that he needed but ask to get what he wants.

@Brandon Ness not much you can do regarding the 5 day grace. in my state it is law they get 5 days. so on the second of the month (assuming not weekend or holiday) I send them notice saying rent was do on the 1st and if not received by the eod of 5th a late fee must be included to be considered paid in full.

@Brandon Ness what does the lease say about paying rent? if it does not address payment methods, then tenant assumes they can pay any way. why drive when the post office does it for you? do they not gave a checking acct? it is the tenants responsibility to drive to you, not the other way around. as for using technology, not everyone is up to speed. you should communicate with them as to the issue. some of my tenants do not use electronic because of limits the companies like cash app use on their system.

@Reagan Robinson-Nickell enforce your lease. rent is due on the day it is due. tenants have 5 day grace as required by law (here in nc). late fee due if paid after the 5th. on the 6th, I post 10 day notice. after that, start eviction process. treat all the tenants fairly and the same. once they understood you follow through with the lease, they will start paying on time.

@Tyler Emerson not very accurate because it is looking on lot at sq ft, location, # if bedrooms, etc. it does not look at work that needs done, is kitchen remodeled, etc. I would not use it except as estimate.

@Patrik Kusek trust but verify. unless it is written into the contract, nothing they say means anything