I don't want a story!!! (by WMH [NC]) Jan 22, 2023 12:54 PM|
I don't want a story!!! (by Ken [NY]) Jan 22, 2023 12:59 PM
I don't want a story!!! (by RB [TN]) Jan 22, 2023 1:33 PM
I don't want a story!!! (by WMH [NC]) Jan 22, 2023 2:24 PM
I don't want a story!!! (by Susan [FL]) Jan 22, 2023 2:36 PM
I don't want a story!!! (by WMH [NC]) Jan 22, 2023 2:52 PM
I don't want a story!!! (by MC [PA]) Jan 22, 2023 3:28 PM
I don't want a story!!! (by Ray-N-Pa [PA]) Jan 22, 2023 8:13 PM
I don't want a story!!! (by Robert,OntarioCanada [ON]) Jan 22, 2023 9:13 PM
I don't want a story!!! (by BRAD 20,000 [IN]) Jan 22, 2023 11:58 PM
I don't want a story!!! (by jonny [NY]) Jan 23, 2023 10:26 AM
I don't want a story!!! (by Jim [OH]) Jan 23, 2023 1:52 PM
I don't want a story!!! (by Oregon Woodsmoke [ID]) Jan 23, 2023 2:14 PM
I don't want a story!!! (by Phil [OR]) Jan 25, 2023 6:55 AM
I don't want a story!!! (by zero [IN]) Jan 25, 2023 9:54 AM
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I don't want a story!!! (by WMH [NC]) Posted on: Jan 22, 2023 12:54 PM
Went to look at a property today. We've seen it before, a couple of years ago. We didn't buy it then because we didn't really have the extra funds. But DH has always liked the area and wanted to take another look (the new owner called us, they want to sell and move into Commercial a la Sid. So they say.)
So we look at it. SAME TENANT as last time, he says he's been there 10 years...place looks better than I would expect with a 10-year tenant but it needs a lot of work generally - clean but lots of wear & tear.
THIS time, though, we hear about the tenant's troubles. An accident, a pending lawsuit, he admitted they pay rent haphazardly ("when we get the money...") and there is another baby is on the way...
Property includes 2 houses, we will see the second tomorrow. That one was completely redone when it was for sale LAST time, it was empty then - there is a new tenant now.
All this to say: not interested in listening to stories before we even buy the place, but glad he chose to regale us anyway...also to tell us the well water sucks (they won't drink or even cook with it) and the washer from the place next door is just vented out onto the ground (septic issues? Sounds like it.)
And a tenant that knows how to sue for liability issues and even has a lawyer already... :0( --50.82.xxx.xxx
I don't want a story!!! (by Ken [NY]) Posted on: Jan 22, 2023 12:59 PM
When i look at houses i want to hear all the stories,you got valuable info and good reasons why the landlord wants out of the business.I would look him up at the county to determine if he has a mortgage and how much,judgments etc,then i call to see if there are back taxes.This guy sounds fairly motivated,there might very well be a deal there --74.77.xx.xx
I don't want a story!!! (by RB [TN]) Posted on: Jan 22, 2023 1:33 PM
Information in, information out.
All part of the game. --24.183.xxx.xxx
I don't want a story!!! (by WMH [NC]) Posted on: Jan 22, 2023 2:24 PM
No back taxes, has only owned it a year (11/21.) Judgements don't show up here online.
I'm wondering who the lawsuit is against! Not the previous owner, Tenant spoke well of them. Didn't denigrate new owner either except to say they doubled rent. But he mentioned liability and I'm just wondering... --50.82.xxx.xxx
I don't want a story!!! (by Susan [FL]) Posted on: Jan 22, 2023 2:36 PM
I agree, the more information from both sides, the better.
Well water is can be hard. I have a well, and have a treatment with salt water and the water is pure, crystal clear, no iron (rust) marks and super soft. Worth the investment IMO.
You won't be keeping a tenant that pays when they can. The sooner they are gone, the better. Remodeling beyond livable, is always a good reason. I would also look at liens on the property and back taxes, if any.
Septics, sigh, ask for documents on maintenance not a verbal. Show proof. Otherwise, you maybe looking at a new system. I know about this from living on septic. If not maintaned can be very expensive to replace. Could ask for reduced price for septic replacement. Ask about the well, get all the documents you can on these two things. Proof not verbals.
Listen to the current tenant, but no comments, don't invite his drama, but he will tell you all you need to know about living on that property. --142.196.xxx.xx
I don't want a story!!! (by WMH [NC]) Posted on: Jan 22, 2023 2:52 PM
He said septic must be pumped two times a year - for that tiny property, that tells us drain field has probably failed but they'd rather keep pumping it than fix it (all our properties are on septic, we know about them.)
We did want to hear his stories BEFORE we buy - but don't want to listen to them later and he is one of the reasons I didn't want to buy last time (I remember now.) I don't want to evict but I don't want him as a tenant and property isn't a good enough deal/nice enough to tempt me to deal with him. --50.82.xxx.xxx
I don't want a story!!! (by MC [PA]) Posted on: Jan 22, 2023 3:28 PM
We know that could be a condition, the place must be empty of T and thier belongings. --75.165.xx.xx
I don't want a story!!! (by Ray-N-Pa [PA]) Posted on: Jan 22, 2023 8:13 PM
A small lot and a bad septic is a $30,000 problem --24.101.xxx.xxx
I don't want a story!!! (by Robert,OntarioCanada [ON]) Posted on: Jan 22, 2023 9:13 PM
What is required is vacant possession as do not want to become involved in rent arrears or drama that has happened in the past. If the seller is motivated then allow for complete renovation as more likely the present tenant may leave a completely trashed out place. it is a opportunity if able to renovate then rent or sell for a higher price. Taking over a rental was a difficult experience for me where the rent was really depressed along with condition of the building required a lot of work where previous owners where not able to stop rent appeals. After losing rent appeals under rent control the capital expenditures were passed on to tenants where one January five rental units became vacant. After that never heard a complaint about rent. No serious building or fire code violations then the game is over with once and for all. --68.69.xxx.xxx
I don't want a story!!! (by BRAD 20,000 [IN]) Posted on: Jan 22, 2023 11:58 PM
I just nod my head and smile, investing 5 minutes in the current res giving me info the realtor and seller won't divulge, and the res screening himself out.
Best to know this res BEFORE we sign a new lease.
I don't want a story!!! (by jonny [NY]) Posted on: Jan 23, 2023 10:26 AM
Can't you also do tests on the well and septic? Make it part of the deal ... I wouldn't trust either one (Ts are most likely going to tell you they don't like .... and Ss are going to tell you whatever they can to sell it). Listen to them, yes... believe them... NO.
The pumping 2x a year could be a small septic OR the fact that the tenant is actually doing things they shouldn't be. I had a property that they had to pump yearly... then I found out that it wasn't getting full or any issues other than the tenant kept dumping things down the drains clogging them up and just kept telling the owner that it was full. Septic company apparently never told them different because the owners were never there when the company pumped it.
Well water "could" be a concern or it could be that the tenant just doesn't trust wells vs public water (or they just want to complain). Get a water sample and find out if it's potable. Sometimes it's an "easy enough fix" and other times it's run for the hills".
As for the other house dumping their washer water on the ground... it's considered "grey water"... many older homes use to do it so that wouldn't go to the septic... bath/showers, sinks and washers would all dump to a tank and you could flush the toilets with it... now no one likes to do that. I wouldn't suggest just dumping it on the ground though... it should go "somewhere" ... although I have seen that too. It also could be that they didn't want to go through the expense of hooking it up to the plumbing waste pipes (or didn't know how) and just did that instead. Who knows... --69.201.xx.xxx
I don't want a story!!! (by Jim [OH]) Posted on: Jan 23, 2023 1:52 PM
Premises must be vacant before closing date or closing date will be postponed at sellers expense. --184.57.xxx.xx
I don't want a story!!! (by Oregon Woodsmoke [ID]) Posted on: Jan 23, 2023 2:14 PM
I always ask existing tenants "If I buy it, what would you like to have fixed?" Tenants have no filters and they will blab about every problem. --76.178.xxx.xxx
I don't want a story!!! (by Phil [OR]) Posted on: Jan 25, 2023 6:55 AM
Pump the septic twice a year??? Have it checked out and if still interested negotiate on the price to cover fixing it...it can be very expensive.
Tenants that don't pay...don't take possession until they are GONE make it the owners problem, don't take it on yourself --76.138.xxx.xxx
I don't want a story!!! (by zero [IN]) Posted on: Jan 25, 2023 9:54 AM
I bought five duplex units from the same guy at one time.
After closing he gave me a list of the deadbeat tenants and laughed. I had asked ahead of time who the bad ones were and he said none of them.
It was a D move on his part. I turned the trouble tenants around. Well all but one if I remember correctly. The things I learned about that guy after I purchased the places was surprising.
Best thing I learned was that a few years after I made the purchase he lost it all and filed BK.
At least you know up front there might be issues. Might also just be from the poor management of the current owner. --107.147.xx.xxx
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