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Updated almost 9 years ago on . Most recent reply

User Stats

28
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5
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Sharyn Umaña-Angers
  • San Diego, CA
5
Votes |
28
Posts

Too good to be true?? Has anyone had this experience before?

Sharyn Umaña-Angers
  • San Diego, CA
Posted

I have a SFH in Southern California that we are trying to sell. The tenant has just moved out and we can now begin repairs. A local woman who has lived on the same street for many years has offered to pay us $1,500 per month (rent is normally $1,900) to do all of the repairs and clean-up herself in exchange for staying there at a discounted rate. I was very clear that I want to sell the property ASAP, and she was completely fine with it, saying whether it was 1 month or 3, she would still pay us $1,500 per month. She says she has an entourage of people that can supply everything we need at a fraction of the cost. She appears to be well-spoken, connected, knows all the neighbors, and is experienced. But I'm still having difficulty figuring out what's in it for her, other than she gets a discounted rent. We have had several major issues with tenants in the past and are very wary of putting another stranger in the home. Even if we draw up a written contract (which we absolutely would), if we end up needing it in court, it could end up taking an exorbitant amount of time, and therefore money, before it's resolved (California!). I want to do my "due-diligence" (learning from past mistakes) in checking her validity. What I have come up with so far is to talk to her references, get a security deposit, run a credit check, contact previous employers, etc. It's a seemingly great situation - maybe almost too good? Has anyone ever come across a situation like this before? Any advice? I would really appreciate it.

Most Popular Reply

User Stats

950
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603
Votes
James DeRoest
  • Investor
  • Century, FL
603
Votes |
950
Posts
James DeRoest
  • Investor
  • Century, FL
Replied

Not no but hell no.

"I'll do your repairs", sure you will luv. And if she does, they will be unbelievably bad. Because they always are.

And the "i'll be a month or three"....yeah whatever. Shuffle along now.

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