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Message
Giving an eviction notice on a violent renter next week. (UPDATED IN OP)
Posted on 12/26/16 at 6:31 am
Posted on 12/26/16 at 6:31 am
About 2 years ago I bought a foreclosure for around 15k in cash that needed a lot of work. I "sold it" for 35k (2 days later) to a guy on a 10 year payment plan at 9% interest. Easy home run deal for me.
Since then, he has made lots of repairs and made the house livable.
He has always been late paying, didn't pay the real estate taxes and let the insurance lapse. I ended up taking over the insurance and taxes and rolled it into his payment so he couldn't miss it again.
He's now 3 months behind on his payment and I need to get him out. Now you know the purchase price so you can imagine what part of town this is in what sort of tenant he is. I'm worried about him getting violet with me and/or trashing the house that he has sunk his own time and money in.
I am going over there tomorrow because I told him the insurance company needed documentation on how the house looks before they insure me for 2017. This is really to get on video how the house looks before I kick him out. Is this a solid plan? Anything else you would recommend?
I plan on video taping every part of the house and documenting what is and isn't working then dropping the bomb on him next week.
Honestly, my rentals have been VERY painless other than this property. I'm in unchartered waters.
Edited for Update: Nothing happened. He paid cash for all that was owed.
Since then, he has made lots of repairs and made the house livable.
He has always been late paying, didn't pay the real estate taxes and let the insurance lapse. I ended up taking over the insurance and taxes and rolled it into his payment so he couldn't miss it again.
He's now 3 months behind on his payment and I need to get him out. Now you know the purchase price so you can imagine what part of town this is in what sort of tenant he is. I'm worried about him getting violet with me and/or trashing the house that he has sunk his own time and money in.
I am going over there tomorrow because I told him the insurance company needed documentation on how the house looks before they insure me for 2017. This is really to get on video how the house looks before I kick him out. Is this a solid plan? Anything else you would recommend?
I plan on video taping every part of the house and documenting what is and isn't working then dropping the bomb on him next week.
Honestly, my rentals have been VERY painless other than this property. I'm in unchartered waters.
Edited for Update: Nothing happened. He paid cash for all that was owed.
This post was edited on 12/29/16 at 5:36 pm
13
Posted on 12/26/16 at 6:37 am to I Love Bama
I will be crossing through Alabama next week if you need some muscle.
Posted on 12/26/16 at 6:44 am to birdieman
HAHAHAHAHHA
Bro. Miss you man. Not going to be able to do the bowl game but bring some muscle (or guns) and help me out here.
Bro. Miss you man. Not going to be able to do the bowl game but bring some muscle (or guns) and help me out here.
Posted on 12/26/16 at 7:49 am to I Love Bama
Local law enforcement should go with you when you serve the notice. Call them and explain the situation and ask them to provide a civil standby.
Posted on 12/26/16 at 8:23 am to I Love Bama
quote:
This is really to get on video how the house looks before I kick him out.
Hopefully WHEN he destroys the house, your insurance will pay. 0% chance he doesn't take a claw hammer and wreck shop.
Posted on 12/26/16 at 8:35 am to Chuker
I'm even thinking about telling him I will pay him $500 if he turns over the keys without incident.
Posted on 12/26/16 at 9:04 am to I Love Bama
Pay him more than 500. Would be totally worth it.
Posted on 12/26/16 at 9:09 am to I Love Bama
I'm not an attorney but it sounds as though you sold him this house with owner financing correct? If so, wouldn't you have to go though the foreclosure process since he's not a renter/tenant, he's the owner?
Posted on 12/26/16 at 9:13 am to MikeBRLA
It would depend on how the paperwork is drawn up, but typically when you do owner financing the title doesn't transfer until full payment is made. This makes the redemption for the owner a lot easier than going through the foreclosure process. It would basically just be a breach of contract, with a high risk of a PO'ed tenant tearing the place up.
This post was edited on 12/26/16 at 9:14 am
Posted on 12/26/16 at 9:14 am to I Love Bama
I would call local law enforcement and explain the situation. Locally here in Louisiana the Marshall's office will send someone with the landlord if its needed. I'd also recommend having a second person with you as an eye witness when you take the pictures and give the notice.
In the notice I would state that any damages to the property you will file criminal vandalism charges with the sheriffs department as well as file a suit against him for the damages. If it states it in the lease cut and paste the verbiage directly from the lease/ lien regarding eviction, making payments, taxes, insurance etc. so you can say "Due to his failure to comply" so its not just your opinion but rather a failure on his part.
I've only had one really bad one. My dad's had them wreck shop, steal toilets etc. Follow the local eviction laws to the T just in case you end up in eviction court.
In the notice I would state that any damages to the property you will file criminal vandalism charges with the sheriffs department as well as file a suit against him for the damages. If it states it in the lease cut and paste the verbiage directly from the lease/ lien regarding eviction, making payments, taxes, insurance etc. so you can say "Due to his failure to comply" so its not just your opinion but rather a failure on his part.
I've only had one really bad one. My dad's had them wreck shop, steal toilets etc. Follow the local eviction laws to the T just in case you end up in eviction court.
Posted on 12/26/16 at 9:20 am to I Love Bama
I just finished an eviction process for renters in Jefferson County. Very much a pain in the arse and took 3+ months from when I first served the failure to pay notice.
As much as it pains me to say, do as the posters above suggested. Pay him $500 or so to get him out. It'll be a lot cheaper than the alternative of you paying court cost and house repairs.
As much as it pains me to say, do as the posters above suggested. Pay him $500 or so to get him out. It'll be a lot cheaper than the alternative of you paying court cost and house repairs.
Posted on 12/26/16 at 9:29 am to MikeBRLA
It's on the up and up. I had a lawyer draw up the paperwork.
I'm inspecting the house, so if its in great condition I will offer $1,000.
Thanks all. I'll update in a few days.
I'm inspecting the house, so if its in great condition I will offer $1,000.
Thanks all. I'll update in a few days.
Posted on 12/26/16 at 9:30 am to I Love Bama
quote:
About 2 years ago I bought a foreclosure for around 15k in cash that needed a lot of work. I "sold it" for 35k (2 days later) to a guy on a 10 year payment plan at 9% interest.
So in two years he's paid you about half of what you paid for the house?
quote:
Since then, he has made lots of repairs and made the house livable.
And he's made all the improvements.
quote:
rolled it into his payment so he couldn't miss it again.
"Payment" and not "rent," eh?
So you want to treat him as a renter even though you're owner-financing a purchase? I hope he takes his contract to a legal aid lawyer. Sorry your plan to make 350% profit in 10 years didn't work out.
This post was edited on 12/26/16 at 9:32 am
Posted on 12/26/16 at 9:36 am to MikeBRLA
quote:
I'm not an attorney but it sounds as though you sold him this house with owner financing correct? If so, wouldn't you have to go though the foreclosure process since he's not a renter/tenant, he's the owner?
Typically a deal like this is written up so the buyer becomes the owner when the contract is completed. If they stop paying, the payments are reckoned as rental payments.
Posted on 12/26/16 at 9:41 am to GaryMyMan
Umm...it has worked out perfectly thanks. I consider this a very small hiccup. I've already received about $12,000 from this guy over the last two years including his non refundable option.
Maybe you should stick to things you know something about. Many men before me have made money in RE this way and many more will long after I am gone.
Maybe you should stick to things you know something about. Many men before me have made money in RE this way and many more will long after I am gone.
Posted on 12/26/16 at 9:46 am to I Love Bama
quote:
Many men before me have made money in RE this way and many more will long after I am gone.
You're a slumlord. It's a disgusting way to make money. Church it up anyway you like.
"I'm a successful real estate investor"
:hand wank:
Looking forward to next week's thread about your pay-day loan business.
This post was edited on 12/26/16 at 9:51 am
Posted on 12/26/16 at 9:51 am to GaryMyMan
nobody forced this guy to sign the paperwork. thats the way I look at these things.
Posted on 12/26/16 at 10:08 am to GaryMyMan
Looks like we found the OPs tenant.
Posted on 12/26/16 at 11:02 am to GaryMyMan
This guy legally buys a house, which probably would have become abandoned / crack house otherwise, and sets up a guy to become a homeowner. A guy that probably would never had a chance at that otherwise, with a note of about $600 month and you call him a bad guy. Gary my man , you need a reality check.
Posted on 12/26/16 at 12:21 pm to Hankg
quote:
This guy legally buys a house, which probably would have become abandoned / crack house otherwise, and sets up a guy to become a homeowner. A guy that probably would never had a chance at that otherwise, with a note of about $600 month and you call him a bad guy. Gary my man , you need a reality check.
Yep.
The investor gets his money back or gets his house back.
The buyer gets a house for what he would otherwise pay in rent, as long as he pays as agreed. In this case he walks away from the money but doesn't have a defaulted mortgage on his record.
This model is common for mobile homes. Banks don't want to write mortgaged for those because they're a depreciating asset.
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