All Forum Posts by: Tony H.

@Kyle J.

Yes, Sunday is most likely will be the day.. I live a couple hours away.. I am just trying to limit trips.. and get things done right then =) but, if nothing works, I guess I have to make a 2nd trip. 

hmm.. good point about the Zelle limit..I am looking at least around $3000, it could be as high as $4000 if the new tenant has pets.

There is a Western Union near my duplex.. Any bad experience with Western Union's money order?

Originally posted by @Mike S.:

@Tony H. You could use Zelle as the transfer is immediate and non reversible.

 Thanks Mike... I will take look into that.

@Max Tanenbaum @Kyle J. The problem is I am going to do the showing on a Saturday and plan to review and make decision by Sunday morning. Then, I plan to have tenant sign lease, and pay move in costs right then. Since Cozy seems not going to work well for me and Banks are closed on Sundays, any other options I should look at? Do you have any experience with Venmo or paypal? Or what if I ask the tenant to give me a personal check in which I deposit right away via mobile? Thanks guys!

@Gerald Barron So did you handover keys and let them move in before their deposit and first month rent hit your bank account? I am planning to do that too, but I am still getting nervous about because I found out that the Tenants cancel their payments.

@Lucas Hall I have used Cozy for over a year now. Its been great so far. Last year I was able to collect my tenant’s move in cost via cashiers check. However, this year, it looks like I may have to do showing on saturday and handover the keys, walkthrough, sign lease on (sunday). I was planning to collect the Move In costs via Cozy. Help the tenant set them up while I am with them. However, I was playing around with a dummy lease on Cozy and it looks like Tenant can cancel the Move In cost payments! - security deposit, prorated rent, pet fee, etc. What if the tenant cancel the payments after they got the keys and I left? Secondly, Cozy needs 2-3 business days to verify Tenant’s bank account. How is this going to work in this situation? Thanks!

@Jack V. Ospina @Christine Kankowski

Thanks for the reply. 

The current tenant in Unit A was inherited tenant. So, they really never gone through my requirements and I believe they won't even pass if I were to ask them to fulfill my requirements.

However, the last 15 months since I became their landlord, they have been great tenant. Pay on time.. and accommodating if things need to be done at the duplex. - this has helped me a lot by not having to drive 4 hours roundtrip to fix simple stuffs. 

Now, what will happen if I reject this guy (assuming he cant meet the requirements)? 

I'm just trying to prepare for a couple scenarios of what will happen.

Thanks again! 

Hi BP, I will have a vacancy in one of the unit in my duplex by end of this month. I have put an Ad on Zillow and put my requirements out there. So far, I have about 20 ppl interested - honestly half of this probably not even gonna show up during showing early next month. This morning I got a text from someone who lives in the area (a couple houses away from my duplex). He says he is very interested and knows my other tenant who is still staying in my other unit (unit A). Somehow I am bit worried renting to their “circle of friends”. Am I wrong on this? One thing is that my current tenant in unit A pays below market rent (i have a deal with them). I have been renting unit B for market rent. Im worried that when it comes time to raise the rent, they may complain and refer to my unit A tenant rent price., etc... Secondly, I dont know if he is going to meet the requirements. Sounds like he is trying to get the place just because they know each other. What should I do?

Originally posted by @Derek Jones:

So in California if using the standard purchase agreement it gives inspection contingency. Are you saying that the seller is refusing offers that have the standard inspection contingency in them or is your agent writing in "subject to inspection" in the offer?

 He is refusing inspection contingency as I understand it.

Anyhow, I decided to pass on the property. I dont have a good feeling with all this.

Thanks everyone.. let me think this through.

Part of the problem is also that the current tenant (who are still on lease until mid next year), they clearly violate the lease agreement.

I know I can use it as a basis to get them out and increase the rent to market rate (not that they are way below market, but there is still some room for increase).

I am a newbie.. but really, having to evict someone on my 2nd deal would be some learning curve.

And.. its California.! 

@Russell Brazil that's pretty what my agent said to me.. he told me that sometimes seller do this to weed out any non-serious buyers.

I was planning to negotiate (by a LOT) - the reason I want to do that is because I think he is asking too much.

Even if I bring the rents to market rate.. I'd still be losing money on my investment.