It has been several weeks since my last post.  I have been very busy with my JOB, taxes, a vacation, and I have had 3 offers accepted on houses.  I have lined up bank financing for two of them.  The third I am selling to a friend at my actual cost.  I close next week and I will post numbers, the negotiation process, and pictures then.

I am still trying to sell the bathroom hole house.  I had a contract but if fell through due to the inspection.  The inspector found 2 jacks holding up part of the floor.  I did not know they were there and I offered to fix it but the buyer still backed out.  I have now fixed it – it only cost me about $300.  I reduced the price a bit, to $145k, and the property has been back on the market about a month now.

The EON house is complete and I decided to rent it.  A tenant tracked me down before I even put a sign up.  It is rented for $1,000 per month and my payment is $435.  Pretty good cash flow on this one, so I decided not to sell it.  I will post after pictures and a walk through video in a few days.

Landlord Duties
I had one tenant disappear.  She called in March and asked for an extension on her rent.  I agreed because she asked in October and came through with her promise.  This time she did not.  In mid-April I went to the house and the power was off.  I went in and the living room was empty, but some bedrooms had mattresses and clothes in them.  A neighbor told me the tenant left and her children were using is as a ‘drug house’.

I was able to get in touch with the tenant using the references on her application.  I offered her $200 to get her stuff and clean the house up.  She did and I paid her.  I spent about $575 on additional cleanup and some minor repairs.  Within a week I had the house rented again at the same amount – $750.

 

  3 Responses to “Week 19,20,21,22,23,24,25, and 26 accomplishments”

  1. Don, Good progress. Nice work with the backup plan. That cash for keys usually gets them moving…

  2. Why would you bother paying her to get her stuff and clean the house? She obviously didn’t do that good of a job with the clean up, as you still had to pay $575. As far as I’m concerned, if she abandons the house and doesn’t pay rent, she’s lost all rights to what’s inside. You probably lost some money on this. I bet if she didn’t clean everything up, you could have had it done for the same cost or just slightly more.

  3. I could probably have done it cheaper, but I cannot take posession of the house without consent or an eviction. (I tried on another house a few months ago). As long as they have a lease and stuff there you must evict them. I checked with my attorney on the previous house.

    I would have had to file ($100) and the wait for her to be served (a day or two) then 7 days for her to respond. Most likely, she would not have responed and I would have gotten the house. Maybe I could have sold some of there stuff, but it was junk. I want to hurry up and move on.

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