All Forum Posts by: Brad Hadley

 The lease I received in due diligence says $1050 but is not even for the people living there. Wrong names, wrong lease. Tenants provided a lease extension that says $850. Is this something I could have verified in due diligence? I'm assuming I can't contact the tenants before closing to verify...

 Thanks for the reply. No agent on this one. I guess I need to do better due diligence next time. Chalking it up to learning experience...

 The tenant provided a copy of a lease extension when I met them after closing. It says $850. The lease that was given in the purchase agreement and during due diligence is not even for the correct people. Different names. 

Hello everybody! I have an issue I was hoping some experts may have advise on. I purchased a duplex a month ago and am house-hacking it. In the purchase agreement they included a lease for the existing tenants in the other unit. It stated that they were paying rent of $1050/mo. However, it turns out that was not the correct lease, and the current tenants are paying only $850. This obviously makes my numbers not work so well. Should I contact the investing company that sold me the duplex and try to see if they will make up the difference? Should I talk to an attorney? What is my next step to recover the $200/mo that I was lied to about? Thank you in advance. 

@Eddie L. Thanks for the reply. It is only a $35K property. After talking to a CPA it looks like more of a medicaid issue. Any money made from the sale will have to go to the nursing home and medicaid will cease until those funds are depleted.

A friend of mine had to move his mother into a nursing home. He wants to sell her house but is afraid all of the money from selling it would go straight to the government. Does anyone know any ways around this or could someone point us in the right direction? Thanks in advance.