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rental problems

January 1st, 2007 at 10:00 pm

Hubby & I have 2 rental properties & a cabin.
A month ago my hubby went to pick up some windows he had stored at one of the houses.We rent this house to a preacher.
He & his congregation were going to build a church on some property they acquired but apparently ran into some problems.So its a Sunday & my hubby was surprised to see all the cars there.Well turns out there having church service in the pool house. Which is for suppose to take place in a commerical building.So after much debate (between us) we call our insurance co and they tell us no we are not covered for this & no we cant get additional cover because the property is being used incorrectly. Furthmore they will cancel our policies unless we evict said tenant.They will not take anyone word that the church services have ceased. So we tell the tenant & send a letter.Now he wont answer the phone. We let him no Dec 1st. he had untill Jan 30th.So not we will have to go back home Ga to see if he is moving.I hated to move him out because its the wrong time of the year to rent this property.April is the best time.
So to get top dollar it will have to set for 2 months, ouch! unless I can rent it for masters which Im going to try & do.
I like realestate and to be honest its really the only way we get any where. Hubby and I are not savers. We try to be money smart with what we have everybody has to work with there personality flaws.
We cant save so we buy realestate when we can.We have no credit cards (no we are not debt free) & we max out hubbys 401k because the co. matches money.Still
we need a emergency fund.

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