Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago,

User Stats

28
Posts
5
Votes
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.

Loading replies...