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All Forum Posts by: Todd Bullinger

Todd Bullinger has started 9 posts and replied 23 times.

Post: Family lost house in fire....Scam????

Todd BullingerPosted
  • Real Estate Investor
  • Lima, OH
  • Posts 26
  • Votes 1

@Bryce I believe that was the same company I was dealing with and was told the same thing...that the address of the fire couldn't be revealed.

Post: Family lost house in fire....Scam????

Todd BullingerPosted
  • Real Estate Investor
  • Lima, OH
  • Posts 26
  • Votes 1

Thanks for all the help. A little update. I did call and speak to the gentleman that called. I do think this is a real situation. I was able to get some vaulable information from him that led me to this conclusion. Unfortunately for us, we don't have any desire for a 3-month lease as it would end in January and we don't want to have to find new tenents in the middle of winter. Again, thanks for all of your help.

Post: Family lost house in fire....Scam????

Todd BullingerPosted
  • Real Estate Investor
  • Lima, OH
  • Posts 26
  • Votes 1

I posted our house for rent with a yard sign as well as Craigslist. I received a call from someone stating they are calling on behalf of a family that lost their house in a fire yesterday and was looking to find houseing for them. We are asking $675 but they asked about paying $875 for a 3 month lease (without my prompting).

Has this happened to anyone before? Part of me thinks this is a scam. I will be asking where he found out about the house and what his connection is to the family but didn't think of it right away. Any thoughts or suggestions for a situation like this?

I will say, I'm not really interested in a 3 month lease as that will put us right in January and not really interested in trying to find tenents in the winter snow.

Post: Returned security deposit not cashed

Todd BullingerPosted
  • Real Estate Investor
  • Lima, OH
  • Posts 26
  • Votes 1

I was curious to know, as a landlord, how long to we have to wait for a on a check to be cashed for a returned security deposit. We returned our security deposit for our ex-tenent on December 1st 2011. Yes, that's 2011. I'm curious to know what my course of action might be. It just makes is a pain in the butt every month knowing that check is still outstanding.

Post: Who gets the tax benefits in a land contract?

Todd BullingerPosted
  • Real Estate Investor
  • Lima, OH
  • Posts 26
  • Votes 1

Thanks for you help guys. I do have my attorney drawing up all the documents and then I am speaking with my CPA this weekend. I just wanted to have a leg to stand on when I speak with them and not be completely in the dark.

Post: Who gets the tax benefits in a land contract?

Todd BullingerPosted
  • Real Estate Investor
  • Lima, OH
  • Posts 26
  • Votes 1

I'm currently in the process of purchasing my business. I'm also purchasing the building on a land contract. My question is when it comes to taxes, who gets the tax benefits of depreciation, etc? The seller or me? We have agreed to a price and now our attorneys are just going through the language of the contracts. I just want to make sure I don't need to have any specific questions to ask my attorney at our next meeeting.

Post: Mold in Basement Suggestions

Todd BullingerPosted
  • Real Estate Investor
  • Lima, OH
  • Posts 26
  • Votes 1

Our tenant in a SFH complained of a smell coming from the basement about 2 weeks ago. We just got an inspection for it and the inspector is pretty sure it's mold, just not sure of the type (not black mold). Does anyone have an reccommendations for "in the mean time?" It will take a couple days for the results and then I was just going to have the same company come in and clean it. Am I required to provide the tenant with anything from now until then. Obviously I'm concerned with his health concerns and I don't want him getting sick. But the inspector also didn't think it was an extreme case either. Any suggestions would be greatly appreciated.

Post: Serving a pay or quit

Todd BullingerPosted
  • Real Estate Investor
  • Lima, OH
  • Posts 26
  • Votes 1

Thanks for all the replies and help. I had a notice prepared and ready to post on the first business day after the grace period ended and he stopped to pay his rent...including his late fee with no questions asked. Disaster avoided for the time being. Hopefully no more close calls.

Post: Serving a pay or quit

Todd BullingerPosted
  • Real Estate Investor
  • Lima, OH
  • Posts 26
  • Votes 1

After looking through several topics, I'm not sure I was able to answer my question. I'm in the process of serving a pay or quit notice today. My understanding is that in Ohio, there is certain language that must be present. I was wondering if anyone had a sample of a 3-day pay or quit notice they would be willing to share.

Also, what is your process for serving it? I know many of your are very strict on serving it the day payment is late. Do you post it on their front door, mail it so you have a record, both?

Just a few questions to help me get by and any help would be greatly appreciated.

Post: New Lease, No Tenant

Todd BullingerPosted
  • Real Estate Investor
  • Lima, OH
  • Posts 26
  • Votes 1

Thanks Jon. I certainly will. Like I said, he met the requirements and seemed like a great candidate. The only think I didn't do was get the money up front. I will next time though. Thanks for the help and advice.

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