All Forum Posts by: Tyler Ansell

If you're already missing out on $7500/mo in rents from your other vacants then what's another $2500? If I were you I'd change focus and get all of your houses filled asap...you're already hemorrhaging cash as it is. If this guy can't stay for the full rent then he needs to leave, maybe a cash for keys scenario would work nicely here?

Check out this post I wrote a few weeks ago called: Driving for dollars. 

What I did when I was driving for my first property was look for ones that needed yard work, had junk cars in the driveway of an otherwise nice neighborhood. Keep an eye out for stacks of newspapers, mail, trash, stuff that looks like it hasn't moved in awhile. Once you find some properties you "like" look up owner info and send them handwritten letters (tons of examples on BP).

I sent 2 letters to the owner of my first property but it ended up getting listed on Hubzu, foreclosure auction which I subsequently won. @Calen Gerstenberger

I would definitely try and meet her and get keys. Evictions take a long time (1.5-2 months on my last 3 this year). If you have a deposit you can probably find enough damage to document and keep it all. 

Note: If you start an eviction say tomorrow, and she pays Friday. All you have to do is call your attorney and cancel. You will likely incur very little costs if any. You can cancel an eviction all the way up until the judge issues the sheriff writ or whatever they call it in your area.

I love that you mentioned making friends with maintenance guys at big complexes. @Matt John. That's an awesome tip for anyone unsure on repairs. In my experience they are making $10-18 bucks an hour and if you offered them a case of beer and $40 they would do just about anything you need. Plus they've likely got connections to vendors such as HVAC, supply, plumber etc.

Awesome! Don't wait too long to jump in, the water's fine :)

@Calen Gerstenberger why not Buford, GA?

She definitely needs to get in touch with her insurance and if I was you I would try to be there when the adjuster comes out. If they don't cover your incurred damages I'd look into using your home insurance or rental property insurance policy

Gotta make hay when the sun is shining. I'd rake in as much OT as possible and save for the kid and future investing say 6 mos to a year down the road

1: You might actually be able to, for me if the kids are over 2 years old they count as a "person" which would be an occupant. Check your laws regarding number of occupants in a single rental.

2: You can't charge them anything more than you would charge someone else, and since you want to charge more because of familial status (protected class) that would not be ok.

3: New HUD guidelines just came out, see what @Patti Robertson posted and read up on what you can and can't look at for criminals now.

Here's the biggest takeaway IMO. You need to advertise and use an open enrollment period where you accept applications for a period of time and select the best candidate. In which case, you're not denying them because of X Y or Z you're denying them because there was someone better that applied. Solves all your issues.

@Chris Mason Yeah exactly, based on what I can find he picked it up in 07 at the tippy top and is now pretty set that he wants all his money back.

@Michael Seeker I've met the owner 2x now, most recent being he came to the duplex I'm renovating 2 doors away from this one and we chatted about my work so far. He seems pretty set at his price and even mentioned that he's "already losing money". 

It is on a busier 2 lane road but some comps less than 3/4 mile down the same street sold recently and show up on comp reports. If anything, the property is less appealing due to condition then other ones in the area.