This does not help you with your $15k inspection problem but it is a prime example of my mantra about leasing to tenants. Always screen the tenants that you let in. They need to have a clean record in regards to violent crimes and drug crimes. Screen all adults that are supposed to be in the property and go by to make sure there are no adults around that are not on the lease or have not been screened.
In real estate that are only 2 errors that are ever made. #1 is being lazy and #2 is being greedy. Those twins will get you into trouble every time. If you did not screen the tenants properly it is because one of those reasons.
Remember people don’t turn bad when they get into your house they were bad all along and you just didn’t find it out before letting them in. People don’t change (religious conversions notwithstanding). If they were bad at any time in their past they are bad now. Just move on to the next one.
This is a very ignorant statement. 1st of all I’m not greedy because the mortgage is 769 and I charge 825. 2nd I’m apart of the National Tenant Network and I did screen for criminal/evictions and credit. I’ve also been to the house every month except for the last 2 months when this whole thing went down.
Don’t reply to my post if you have nothing to contribute besides ignorance.
Since this was addressed to me, explain how your error principle #2 Greed applies to Donald Trump? The Art of the Deal was all about greed. His first project was the 1,200 unit Swifton Village low income project just outside of Cincinatti. It originally had an 80% vacancy. He raised the the rents, got the whole thing rented by renting it to anyone and dumped it a few years later for profit. Most of his residential properties today charge twice the rents that neighbouring buildings do and he’s very successful at it. Are you saying it’s not done out of greed? Do you think his staff fully screens them if they have the money? Are you telling me that he would never get a drug dealer in one of his properties? Yet, being greedy must work for him; otherwise, he wouldn’t be a billionaire.
This reply as I stated was not to help you. You have already stuck it in the mud. The statement was made to help everybody else so that they don’t make the same mistake you made.
If you had asked me 6 months before you rented to these guys I would have been able to help you screen these guys and find out that they were crooks. Since you were losing money on the house even after it was being rented you let them in because you were losing your shirt paying the mortgage and you overlooked something to get any money coming in…greed.
The statement was not ignorant it was painful. I am trying to teach everybody else using your example.
JDM was right about the structural engineer and the electrician. The industrial hygienist is a company like Serv-Pro or Servicemaster and other mold remediation companies. They will come and make chemical tests to find any toxic substances and form a plan to remove them. The testing is about 1000.oo and the remediation can be the 15k if it is really bad but some of it can be done by your contractor. What the house needs is a good cleaning, what the high price is for is the certification acceptable to the building inspector. Look on the internet for mold certification and you can be certified for 200-500 in a short period of time. You can also ask for more time to comply with the 30 day time limit,ask for 90 days.
Redhawk
Ok guys, here’s an update on what’s going on and I need some input.
hired an insurance adjustor (he’s going through my policy to see what is covered) I will be leaving all state insurance, this adjustor broke some things down to me, that I never thought about, he’s been doing this for years and an investor himself and said that All State has some of the highest paid to help not payout, so far he doesn’t thing vandalism is covered under the policy. All I can say is as investors we don’t know it all and because of this lesion I know a little more on what to look for in regards to insurance. He said State farm has a very good payout policy along with better coverage. I would have thought that a landlord policy would cover vandalism (it was really a break-in but because it’s not property, but the tenants, my possion wasn’t stolen so because of that twist, my broken windows may not be covered.
I finally found an industrial hygienist and this guy was so nice, he told me the borough is trying to bankrupt me, because they normally only handle commercial properties and he told me base on everything they ask for, was not needed and he took it upon himself to call the borough for me, then they change their tune saying the hygienist can do what he thinks is needed.
I went to the courthouse to file the property papers for an eviction so I can start clearing their stuff out. The court is telling me that I can’t legally enter my own property because the tenants aren’t there and if the tenants said something is missing, they can then sue me. I told them well the borough is giving me 30 days to get the 3 test done or they will charge me $300 a day. Also the borough know the tenant is arrested, the courthouse now want me to talk to the judge on 5/25 about this problem.
I called the borough to tell them what the courthouse told me, the person I called didn’t even get on the phone with me but had the receptionist tell me I should get a lawyer. I did get a lawyer that same day and he’s going over my lease and the paper work the borough sent me.
Now my Question to you guys is this. I can’t pay for a lawyer and pay this mortgage where I have no income coming in at the same time. Do you guys know if the mortgage company can do anything to help me? According to the borough I can’t sell the property until I get the test done, I can’t get the test done if they’re telling me I can’t enter the property.
I’m not a lawyer and don’t take this as legal advice, but in the past in my area I’ve gotten work orders and simply slid a 24 hour notice under the door to do repairs, have underwriters or inspectors come in, test the smoke detector, etc. I suspect it would be the same in your area to legally enter your property to do your tests.
As a side note, how do your former tenants prove something is missing? Seriously, how do they prove that in court?
And, if you’re going to clean out their apartment, take pictures and a video of the unit before doing that and locking up their stuff up in storage so you know what was there if it ever does become an issue. Even if they did sue you, you could always counter claim their lawsuit for a higher amount for all the damage they cost you, lost rent and storage fees so they’d get nothing anyway.
Industrial Hygeniest $1280 (was 2280, but all 3 agreed the borough was trying to screw me so he reduced his fee)
Certified Electrician $150
I went to court and won the eviction, it was like a movie, as the judge was closing out, the tenants who was in jail walked in free and then had the nerve to disagree with the amount for damage, I could only do 8K total. So the judge let them have it! and broke down why they have to pay.
Now I have to get the papers from the court then file the last paper work to finally take ownership and get their stuff out, now I have to pay to keep it in storage for 30 days after that I can let it go.
philly0128,
This has been an expensive ordeal for you. You have taught us all alot. Thanks for sharing your valuable story with us.
Some years ago, I had a tenant who apparently grew pot in the garage. Then he got ripped off. Guess the neighbors thought he was spending way too much time in the garage, and got curious. The tenant left, his plan for home-grown income down the drain. I was happy to get rid of him.