Week 7 Accomplishments

I finally ordered the bandit signs.  While I was at it ordered some custom For Rent signs, and For Rent arrows signs.  The arrow signs are hard to find here and I was down to one for rent sign which is cracked.  Arrow signs are like magic for getting tennats.  Here are the proofs:

I received word that the EON House is ready to close.  On the 27th, we will get everything to the lender and try to close on the 29th.

Work on the Bathroom Hole House is proceeding.  I have decided to fill in the pool and the cost estimate is $2,000.  I also discovered that wiring was stolen under part of the house.  I have a rough estimate from an electrician for $1,000.  I also have a quote of $2,860 to replace the stolen AC unit.  I am paying the landscapers $1,550 to do all of the landscaping, plant winter rye grass, and do some block work on a retaining wall.  They will also cut a cracked driveway extension so it has a straight edge.

This week I got my first lead from my website.  I have no money to do anything with this house.  Next week, I need to line up some investors or had-money lenders.  I was not prepared for a lead so fast.  I tried to birddog to a person who had ‘We Buy Houses’ signs.  I called him and he said he wanted the house so I told him to enter his information at my website and I would send it to him.  He said he wanted it but never entered the info.  I have one more potential investor to call.  If I can’t birddog it, I will call the person next week and offer $110k minus repairs.  The house is in a town where I do not normally invest and this is a lot lower than he said he would accept – but a bit over what he owes.

Landlord Duties
A have a tenant on a payment plan in a house I have with a partner.  He makes me be more lenient that I would like.  They now have the electricity cut off and DFACs will not let them live in the house.  However, she paid her $250 partial payment as agreed.  I am worried that the AC unit and wiring will be stolen with no power and no tenant.  I told her to move by next Wednesday and I would give her $250 back.  If she does not I will file for eviction but I am trying to get her out fast.  I am worried if I turn the power back on she will stay in the house.

In another eviction, I have a judgment and have filed a writ-of-possession.  She sent me a $400 money order to stay until the end of the year; I have not cashed it.  I cannot get her out until the first week of January because the city will not put out children during the holidays.  I also have a $360 money order she sent a few weeks ago.  After she is out, I will cash them.  I have $2,200 judgment, but if I accept rent I would have to start the process over.  She called begging to stay last week and I told her to pay in full by the end of the year and she could stay.

A have filed for eviction on another tenant.  She called and left me a voicemail to go by the house and discuss it – I ignored it.  Then she had her kids call, and then her grown daughter sent a letter.  I called and she wants me to give her until the end of the month.  I told her I would, but she had to pay in full in order to stay – including January rent.  I really had no choice because I cannot get her out before then anyway.

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