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Updated about 8 years ago on . Most recent reply
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Wholesaler/rental problems need advice
Hi guys - couple years ago I had some health issues in the middle of a flip and once it got done decided to do a two year lease option with a local wholesaler. He did a sublet and made his money I made my money and everyone was happy. Lease expired in June and he had health issues and then legal issues with his partner and we spent two months trying to negotiate around those and got a couple of rent checks but all after the lease option expired. Long and short is I'm owed two months rent and we've agreed on another two year term as a contract for deed and the missing two months as a down payment. but it's pulling teeth to actually see the contract and get it signed, "lawyer hasn't gotten it to him, oh sorry more health stuff, stupid lawyers didn't draft it right" and on top of that we're in two states and the property is in Texas and the property still has his sublet in place and they apparently pay just fine.
Long story short has anyone had experience ending a relationship/contract like this and then just working with the renter? I'd like to take it back under my direct control.
Please try hard to refrain from nitpicking "my deal" or the timeliness of my decisions and simply offer constructive guidance.