Week 19,20,21,22,23,24,25, and 26 accomplishments

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 thoughts on “Week 19,20,21,22,23,24,25, and 26 accomplishments

  1. 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.

  2. 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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