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Updated over 2 years ago on . Most recent reply

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Orlando Goodon
21
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125
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Can anybody help me with my first cash for keys?

Orlando Goodon
Posted

I have a 5 unit with only one tenant paying rent and I would like to try to do a cash for keys deal. I've been struggling to find legal representation because all the attorneys are apparently horrible.

has anyone done a successful cash for keys deal in a low income area? Or otherwise? I would really appreciate if you would contact me privately and I can let you know what I'm looking to do and see if you have any suggestions. I will share my results with the community after everything is done. Hopefully we can help others as well who will be in the same situation as I am.

Most Popular Reply

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940
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Melanie Thomas
  • Real Estate Broker
  • San Antonio
412
Votes |
940
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Melanie Thomas
  • Real Estate Broker
  • San Antonio
Replied
Quote from @Orlando Goodon:

For example one thing I would like to try is to see if I can start by communicating directly with the tenants before sending them anything legal. Try to appeal to their humanity and take on a negotiation posture in terms of actually genuinely trying to work with them. Putting emotions aside and seeking to make a deal that will make sense for them.

I don't want to just focus on what I want I want to try to understand from their perspective and try to be reasonable and work with them but on the same token realize that I have to be very careful about what I say because if they reject it and we go the legal route things I say can and will be used against me.


 This is great advice! Find out what is going on and try to use it to your advantage. This works the best in my personal experience. I had a recent dealing with a resident who was happy to move being promised 100% of the deposit back. Thankfully she left the unit spotless and appreciated the gesture. Got a 5-star Google rating out of it. 

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