Monday, September 29, 2008

Finally, a good night's sleep after a long, long time...

I got to evict someone today. Kidding of course about the good night's sleep but I post as an anecdote of the times. A B&B in Austin that was two month's behind and will be another month down the day after tomorrow.
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10 comments:

Stephanie said...

Is your client a bank?

September 29, 2008 at 7:20:00 PM CDT
Scooter said...

Nope, just a guy who inherited some prime property just west of the campus. When we shut the tenant down, what the heck am I going to do with the guests with reservations? I may be working as an innkeeper in the near future.

September 29, 2008 at 7:26:00 PM CDT
Scooter said...

If banks moved as quickly and prudently (and my client was generous indeed...down $7200/month), we probably would be in better shape today.

September 29, 2008 at 7:42:00 PM CDT
Stephanie said...

Will the owner be able to find another tenant?

September 29, 2008 at 7:49:00 PM CDT
Stephanie said...

and does the owner need the rent money to pay a mortgage? or does he own it free and clear?

September 29, 2008 at 7:50:00 PM CDT
Scooter said...

He will never be able to find another tenant for this "use." I am pretty sure he'll divy up several lots and sell. He does have a mortgage and taxes to pay. There is also several years of unpleasantness that aren't addressed in the eviction/forcible detainer action. He really has been patient.

September 29, 2008 at 7:57:00 PM CDT
Stephanie said...

Can he find a buyer in this market? I mean, there'll be practically no credit available for potential buyers. "Divving" sounds like it'll take $$, too.

September 29, 2008 at 8:06:00 PM CDT
Scooter said...

The divving (two v's?) is already done. His position about being able to find a lender for a buyer is nuts by the conventional wisdom. By Scooter's wisdom, there will still be credit on the local level for smart investments. Also by Scooter's wisdom, in this market the sale is not coming soon.

September 29, 2008 at 8:12:00 PM CDT
Stephanie said...

Meant "divying"

September 29, 2008 at 8:40:00 PM CDT
Stephanie said...

Oh, nope. it's divvy, so divvying.

September 29, 2008 at 8:57:00 PM CDT

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