All Forum Posts by: Brendan L.

Thank you. What if we disagree about which contractor will do it? He has a guy who can just write up anything, while I may be able to find one for cheaper. 

I did some minor damage to the walls in my apartment that I'm moving out of in 1.5 months, it does need to be repaired. Landlord did inspection and is asking for 250 to repair. How do I protect myself so he doesnt start nickel and diming me if he all of a sudden "finds" repairable damage he "didn't see and didnt include in that quote"? Do I ask for something to sign saying I agree to pay the 250 for "all" repairs ?

Thanks for the thoughts everyone. I've gone ahead and given the extension. I think the play is to really try to get him out, rather than inheriting him, so I'll just plan to extend the date for as long as they need, and plan my living situation around that. One of the issues was, I was ending my lease at my current apartment, so I may have to find temporary housing. 

But why not double down? I'm looking into buying a second duplex while I wait for this one to close, would be a place for me to live and place to grow my empire at the same time!

Mmm. I don't think its his ability to pay that's the issue, I think its the fact he's disabled so has accessibility needs so its hard to find him a place on short notice. He had a rental application denied- there may be more going on than just what I think, though.

Thanks @Mike Cumbie. Why am I unlikely to be able to raise the rent to business level? As is, its about $100/mo off from the target I had set in my original analysis, but I also included property management in there, which I don't need yet. I might have to look at it like this, given the current condition of that place (smoker/unkept cats), he might even be paying closer to market than I thought.

Thanks @Anthony Gayden 

I am actually using a special local program. Conventional 5% down no PMI 3.75%. Pretty baller.

Great response, thank you. Yeah, I wouldn't mind if he stayed and remained a good tenant. I like the sit down idea- I'm worried he'll be bitter that we tried to move him, but if we talked before close, I could explain that its not personal and that the market for rent, like everything else in the world, has gone up since he originally moved in, happy to have him there, etc. etc. 

I didn't even think to move into the other unit because they're such good tenants! Could do that, I might look to see if I can buy another duplex that just opened up as well.

I'm trying to buy a duplex. Part of the agreement was to move the tenant on one side out so I could move in. The seller is having trouble finding him a place- he's a disabled veteran. They were on a month to month lease- I was under the impression he could give him the standard month's notice and he'd be out, but apparently there are more protections? (MA). 

They want an extension on closing, but if they're having this much trouble now, I'm just waiting for them to come back and ask for more time later on. There's no telling when they could get him out. 

So what about plan B? I could keep him as a tenant and find myself another place. Records show he's been a fine tenant who minds his own business and pays.

So couple questions:

Does this guy, as a disabled veteran, have special rights that make it harder to evict him, or do the standard month's notice?

How crazy am I for thinking inheriting this guy is a good enough solution to this? Its a big risk that he'll want to pay my desired rent and he'll be all fine after being told he was supposed to move out.

If its not the worst idea, how could I do this hand off effectively?

Besides walking away (I'm $1k in so far), what might I look into doing?

This is my first deal, WTF!

Yeah, so the numbers are pretty good, and makes sense as a first. Maybe 1 or 2 comparable deals I could pursue in the area if I was to walk away from this one, taking the $800 as a business expense (I bet appraisers make a fair amount of of money off failed deals, huh?). But, between those "maybes" and being knee deep in this, pushing back the date here would still win out.

I could actually get away without paying for the 2 weeks of relocation, between friends, family.

The June time off is strategically placed at my job, I might have a harder time taking time off in July, but could swing a few days to tackle the big tasks. 

Overall, may just chalk it up to learning the business.

First househack duplex, our contract had close on June 16th. I took 2 weeks off work between then and July 1 to make my unit livable. Those dirty tenants can't move into their new place until July 1. My lease is up June 30th, so I'd need to relocate for at least 2 weeks. I'm also losing the time I would've had to make the place habitable, I'd have to scramble to work on it over the weekends while living in it, not ideal.

I don't have a ton of leverage- this guy just got rid of his ****** tenants thanks to me and he could just as easily walk away and rent for longer, but the place has been on the market off and on for years. 

What would you do? I can still do it, it just sucks to lose that time to work on it and have to move multiple times, but I feel like my hands are tied because I'm already $800 deep on the appraisal, etc.. I might try to see if he'll remove the ****** carpet thats in there, but I might have to swallow my pride, ugh.