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All Forum Posts by: Mark N.A

Mark N.A has started 21 posts and replied 1018 times.

Post: Investing in War Zones

Mark N.APosted
  • Real Estate Investor
  • North Carolina
  • Posts 1,083
  • Votes 483

Jimmy - your questions would make a damn interesting book or thesis for some academician.

I'd actually love to know what's in a real 'slumlord's' head.

The two types I've seen in my area are, 1) kind of stupid. They grabbed a place for next to nothing figuring to squeeze lots of cash out of it. Then they get stuck between really sucky tenants destroying the place and increasingly strict code enforcement demanding they fix the place up.

The second group are the sad sacks who didn't get out before the neighborhood tanked and now cannot get out.

But surely there must be SOME 'evil geniuses' out there with fat offshore bank accounts who do this succesfully.

Perhaps they'll go the late-night infomercial guru route so we can all jump on the gravy train!

Post: 106 degrees and the rent is due

Mark N.APosted
  • Real Estate Investor
  • North Carolina
  • Posts 1,083
  • Votes 483
Originally posted by Marc Freislinger:
Get licensed! A $3200 install of a $500 condensing unit is a huge markup.

SLAP MY GRANDMA!!!

If you can tell me where fools are paying that much I will get licensed and relocate.

Post: Do you collect tenant testimonials?

Mark N.APosted
  • Real Estate Investor
  • North Carolina
  • Posts 1,083
  • Votes 483

WHAT A GREAT IDEA !!!!!

Having recently received a threatening letter from an attorney regarding a disputed Security Deposit refund, I would love to bring in a stack of Testimonials and/or Performance Ratings from previous tenants.

Don't know how much weight they would carry with the Magistrate, but I figure all ammunition is good ammunition!

I think you're on to something.

Post: would you lower rent to keep great tenant?

Mark N.APosted
  • Real Estate Investor
  • North Carolina
  • Posts 1,083
  • Votes 483

I've lowered rents in the past to keep or find good tenants. That's why buying 'low' is so crucial.

I've also let good tenants temporarily 'slide' on rents -- over $2000 one time -- and now they're all caught up. That's a rare case, though.

Point being REI is not just a numbers game, it's a 'knowing people' game, too.

Post: 106 degrees and the rent is due

Mark N.APosted
  • Real Estate Investor
  • North Carolina
  • Posts 1,083
  • Votes 483

I just had TWO compressors go bad in as many days!

Post: senile landlord

Mark N.APosted
  • Real Estate Investor
  • North Carolina
  • Posts 1,083
  • Votes 483

You don't say where you are. Too bad because someone here might have some area-specific advice.

Go online and study your particular state's landlord/tenant statutes. Do the same with your municipal codes. IF your landlord is in violation of any statutes or codes she deserves what she gets for giving the rest of us a bad name. If you go this route you had better be perfect yourself.

You could try finding another tenant to take your place (maybe even subsidise them). You can also try being extra nice and beg to be let out of the lease. You could try hiding her meds.

If this situation is really intolerable spend a buck for a RE attorney's advice.

Good luck and keep us posted. Most all of us here are decent LLs and try to do right. However if your LL sneaks into your bedroom with a butcher knife please let us know first!.......

Post: Do your tenants leave garbage behind?

Mark N.APosted
  • Real Estate Investor
  • North Carolina
  • Posts 1,083
  • Votes 483

It's not uncommon for my clean-up guy to literally retch his guts out when removing what low-income tenants leave in their fridge after the power has been turned off.

Post: Any of you packing when going to any of your rentals/rental areas?

Mark N.APosted
  • Real Estate Investor
  • North Carolina
  • Posts 1,083
  • Votes 483

Prediction:

When the government bubble bursts, when entitlements end, when 'flation hits the fan (you name the prefix -- 'in' or 'de') ...

... then there will be a lot more citizens carrying guns, or wishing they did.

Please please please may I be wrong.

Post: Collecting rents from evicted tenants

Mark N.APosted
  • Real Estate Investor
  • North Carolina
  • Posts 1,083
  • Votes 483

My revenge is a little different:

Whenever I discover an applicant has a judgement against him, I ask if he's paid it back. When they invariably say 'No' I say, "Well, you do understand that no good landlord with a nice place will ever rent to you, including me. Good luck."

Post: Satellite Dish Problems. Any Advice?

Mark N.APosted
  • Real Estate Investor
  • North Carolina
  • Posts 1,083
  • Votes 483

Tracey - they cannot install in a 'common area' without permission of the owner.

Call them up again and get names and/or employee ID numbers before voicing your complaint. They will, of course, claim they had your permission via the tenants.

File a complaint with the FCC and see if your state's Attorney General might do something.

Good luck and keep us posted.