dionwisn

lease is now a month to month - hes been living here since august of 2016. addendum was worded to protect damages done to home by tenants guests which is only for a month.

im mainly concerned about the lease agreement. we didnt have a notary. so one does not need a notary for legal purposes?

im a little afraid here. I got my tenant who lives with me to sign an addendum and agreement, but a women at my office told me its needs to be witness by a notary. She says my contract is just a hand shake right now without a witness. She said this is true in Florida. Is this true?

thanks Mike. Does anyone have an extra addendum form they could email?

Hey Folks, Happy fathers day Michael, quick question. my tenant has a son 13 yrs. old coming up from south florida to live with him for a month (my house). our florida residential agreement doesnt state anything regarding damages done by a tenants guests. does florida have a law holding the tenant responsible for his guests damages? if not, can on simply add some verbiage to the agreement? does anyone have suggestions? trying not have to pay for an attorney. Dion

Hey guys, its been a while since ive chatted on these boards. Had to put the lease options down for a season. Im now a homeowner and im planning to lease out a room to an individual whom seems to be a pretty decent person. Despite my positive feelings and him passing a background check, do you guys recommend having him sign a contract to rent my extra bedroom? Im hearing a variety of approaches from friends and family. Some have recommended a simple verbal agreement to eliminate getting courts and such involved. Whilst others have suggested completing a contract so that if the person squats one can file an eviction. What are your opinions? Dion

One of my CA's from last year is in the midst of getting purchased. I collected a down of around 5k which the tenants paid via cashiers check. I and they dont have any record of it transfering hands. I cashed it not at my bank and they purchased it at their bank. What can I do to help them prove they paid something. Also the rent credits I assigned were 50% and with the down and seller concessions changed since 2009. Im lost on what to tell them without looking like the bad guy. I should have never rode along with helping this CA and released it... Oh wait, I did sign and ducument a release of contract... Any advice would be appreciated.

True dat. But, oh, what a man you are! True Dat ...Mike I love your english.

I though Id chime in... Last year when I was doing these i was told to send to FSBO 2-3 days a week for a month. But for expireds I believe the same. The reasoning is becuase the FSBOs are more stubborn and will call if they keep seeing your mail peice. I had 3 templates for cards and 3 variations of mary letters that i designed personally and would send to my list. F.Y.I MARY LETTERS WILL GET THE PHONE RINGING.

Sorry Im replying so slow. After talking with my realtor friend who works for a local agency, hes swears hes making money. Hes got around 18 properties and has sold 5 in the last few months. Not bad. To answer your question I dont know. There are pockets that are hot and some that are cold. Its like that everywhere though. Im just glad to be back and look foreward hearing about everyones success. You guys crack me up!

Hello Mike, and everyone else. Just wanted to stop in and say hello. I've taken a little break. Financial and health issues. I wanted to see whats new , as new years approaches you should see more of me as I start looking for deals. Man I really missed this lease option stuff and hope to hear from you guys. Happy holidays! I just noticed, Ive been gone so long it might time to change my avatar. Properties aren't sitting like they used to.

This site is free if you hurry and sign up. It normaly costs $50 per month. Hope you guys find it handy. Site

I agree there are a lot of IF'S. Investing through SLO's has advantages. When CA's are slow they can be handy as what Steve stated. Im more in agreement with Johnathan. There must be enough profit upfront, and you cant rely on the back to save you. That was my mistake. You really cant rely on the Option money either. UNLESS its a nice home in a good area and your cashflow is a 35-40% of the negotiated rent your not investing your wasting your time.

Baron, I still haven't been able to close a long distance deal. I have done ones that are a few hours away. Another option would be to set up a paypal account and transfer the funds. Or you have friends in that area to collect the check for you. As for the contracts, what I do If I feel leary I'll send them wrong contracts just to feel their response. Then once I receive the funds I call them and say "I think we mailed you the wrong agreements heres the correct ones" and move on. Remember this business is a game and you have to play it smart.

Will do! They've already expressed compliance to leaving the place as is. I also let them know that if things do go wrong the owner of the home wont be to happy ,and left it at that. I'll keep you folks posted over the coming weeks so you can see how it transpired.

Hey guys I need your help. Though this may be a landlording issue I thought I'd ask anyway. What strategy would you folks take in getting last months rent from a tenant whos not exercising their option? I have a tenant whos leaving soon, not sure if its this monday or friday but who may try and run. They know their option money is nonrefundable, which made them angry. So im thinking to get back at me theyre going to run next week. This would leave me owing the homeowner which i dont want to do that. Whats the best way to minimize my loss here?

Whats your experience with these low paid foreign helpers. Does anyone here use them with regularity, or is there a better way to oustsource work? What are you guys using?

All that sounds familiar. I took most part of the begining of the year off. And now Im back, I get the same treatment. Theres a time and a place for everthing. Im up late nights doing marketing. Pumping out emails to potential T/B's to get my inventory sold.

Steve, Whats your market like. Has it picked up at all since the tax credit. I've seen a major jump. What im hoping to bank on now is those sellers having to sell, but aren't going to becuase the incentive to buy has now ended. Deals should start pouring in all markets. Lets hope!

No problem. We can fix this right now ..... Jason, thanks baron, you're welcome! And for Dewey, Cheatum, and Howe Love your email HAHA! BEV! Bev thats alright. While everyones here flirting and laughing, Im out working. I got another call from one of my old sandwich leases that is about to end. The seller wants to do it again. Our tenant ended up being a dreamer and couldn't get her ducks in a row. So back marketing and looking to pocket another 3k.

Landed a buatufull CA (Hybrid), too far for me. 3 hrs. away. In one of the nicest neighborhoods in the area. Last hybrid was like taking candy from a baby. Lets see how this one operates. I just hope I can close the SOB. P.S. had the surgery everthing is gooing well. Dont worry I wont horrify you with post-op pics.

Ok im done scaring everyone away with gym accidents, one last time. Check out this poor chap! Looks like he tore both pecs and a bicep!

What do you mean. This is called the naked investor! Im just showing you my other half. You know I invest but you people have never seen me Naked

Its looking like 1-2 months in a sling. Followed by no upperbody exercising for 4 months. All said and done, 6 months for recovery. The bench press is your worst enemy. In excess of course! I tore this pressing only 300lbs. Which I should have handled.

Its not from domestic violence. I did it at the gym, bench pressing. And surgery is needed to repair a torn tendon from the bone. I'll be bed ridden for a couple of weeks. Which will give me more time to analyze my business model and improve it. Not so bad, needed a break anyway.