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Updated about 6 years ago on . Most recent reply

Account Closed's profile image
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Account Closed
  • Investor
  • from Papillion, NE
  • Member since Aug 30, 2015
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Account Closed's profile image
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Account Closed
  • Investor
  • from Papillion, NE
  • Member since Aug 30, 2015
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Account Closed
  • Investor
  • Papillion, NE
0
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6
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Buying & Selling Real Estate

law suit on free and clear properties

Account Closed
  • Investor
  • Papillion, NE
Posted

Hi,

I'm planning to start snowball payment of mortgage on my 3 duplexes and after going through some previous posts saw the major disadvantage is an impending lawsuit from a tenant. Are there any statistics on this? Is it just the fear of losing what you earned kind of paranoia? How common is this phenomena? 

I have umbrella insurance covering all the 3 duplexes.

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Kris L.'s profile image
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Kris L.
  • from San Antonio, TX
  • Member since Feb 24, 2019
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Kris L.'s profile image
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Kris L.
  • from San Antonio, TX
  • Member since Feb 24, 2019
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Kris L.
  • San Antonio, TX
836
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Kris L.
  • San Antonio, TX
Replied

In that ESA case, Chen (landlord) won.  Not sure if his counterclaim for  $14k in damages (attorney fees and lost rent mostly) was successful though.

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