All Forum Posts by: Tevis Verrett

Brandon Turner you brought a warm smile and a chuckle this morning over coffee and my prowling BP.

THANK GOD ITS FRIDAY!

Wishing my BP peeps much luck in finding gold mines v. land mines in your investing today!

Tevis

Maa Props to Brother Steven Maduro for this thoughtful and salient information.

You have been evernoted, bookmarked, and tagged.

I predict, now that you are on the radar of Brother Brandon Turner, watch and see if there isnt a BP/SM Amazon Kindle PDF Barnes & Noble eBook of the Laaazy Landlord.

I vote at LEAST a podcast!

Tevis

Good thots all. I use month-to-month as a penalty so I make is expensive.

Want to treat my property as an extended stay hotel? Pony up $100/mo extra bucko!

Usually it is at the end of the lease where the my beloved tenant is contemplating whether to reup for another year.

Take into consideration that Im in Los Angeles, so rents are skyrocketing (yeaa us!)

YMMV in your neck of the woods,

Tevis

Robin Grimes, I did a double take at the title, as I JUST did this with a high end tenant that needed to move quickly (relocation).

Grateful for the sage advice John and Michelle added.

I gave him access to a closed garage, and didnt give him keys to the main house as an anchor to ensure we wouldn't have problems with him changing his mind and wanting his deposit back.

Worked perfectly and seamlessly. Perhaps I was lucky this time around.

In the future, I will offer it as a concession or value added and write it into the lease as an addendum.

Much good luck with your properties, all!

Tevis

Ouch Deborah B., thank you for this.

The danger of rose colored glasses. . . even for the riskiest of us all.

Good morning coffee fodder,

Tevis

VERY wise advice Deborah. Yup, I was box O' rocks stoopid in my 20's. Guess I just got lucky NOT to have a record.

You are right, in the leniency. The other camp, ". . .you cant fix stupid."

So better to be on a case-by-case basis. . .

YMMV,

Tevis

Hi All:

Deborah B. thanks for starting this great thread.

My 0.02:

I field the emails and calls with a standard letter and standard phone reply:

+++++++++++++++++++++++++

We are looking for a tenant/partner who has stable employment, earns three times the monthly rent with no prior evictions nor felony convictions. Perfect credit is stellar, and we will also accept a foreclosure or short pay ding as times are trying right now.

. The backyard is secluded and also has a waterfall for your zen-like serenity

The property address is XXXX Avenue San Luis, Woodland Hills, CA 91364

Please drive by,walk up the private driveway, the current tenant is moving out this week. If you are pleased, give me a call at [REMOVED] and we will make an appointment for viewing and application.

Thanks for pinging us and looking forward to a great partnership. . .

+++++++++++++++++++++++++

I did this and scored a senior executive that didn't blink at the $2,700 monthly rent! And this guy called me from. . . . Craigslist!

Also screened a whole lot of goobers that would have stood me up if I had made an appointment.

Lease: 1
No Shows: 0

Booyah, wishing you all good luck in this phase of building the money tree!

Tevis

Brother Steven Maduro ROCKS!

Gud Gracious Steve, this is great stuff!

Tevis

Johnny, what Sam W. and Lynn M. said. . .

. . . how much can you increase rents due to high demand?
. . . a bird in the hand, better than. . . . .

If they are good, and you can curb those mutts, you may have a winner.

Communication is everything!

Maybe hand them bark collars as an incentive?

Tevis

Josh Birrell since the seller is motivated to help you, see if you can talk them into "being the bank" with complete seller financing.

Have them take a note and take first position, and that you will refi at a determined future date (your balloon payment)

Explain the hit they will take if they get cashed out with the dreaded tax man, and that you will allow them to drip their equity at a MUCH BETTER rate than the 0.00001% interest they will get when they put their money in the bank that will lend it out to you at 4%.

Good luck with this.

Tevis