All Forum Posts by: Dustin Hughes

Yes, I made it crystal clear I was prepared to cover the full term of the lease. I simply wanted to communicate the availability and discover his willingness to release me early if he finds another tenant. And yes, I gave specific dates—just said mid-March on this forum to explain it is earlier than later. To those who responded that I am still on the hook—did you actually read the whole post?! What part led you to believe I had any alternative intentions? (Gee, are all landlords so scared—maybe this is the problem?) The question is why he might not have any interest in early replacement! There is no extra money in it for him. I’m leaving anyway. So what am I missing? I am looking for a legitimate business reason—not this crap about all tenants are trying to screw you out of your money and leave you hanging. Now that I think about it—he kind of has this attitude...he’s probably just scared. Too bad...so sad....pathetic actually. Guess you cannot reason logic with some folks. It’s not like he owes me—actually, I owe him regardless, and we are back to my simple question: can anyone give me a legit reason why he would not “want” to let me out early?

Brief background: I still own rental property and relocated from TX to AL in 2017. I decided to rent a house for a year to decide where I’d prefer to live long term instead of rushing. Straight to the point: I am buying my next home end of Feb and my current lease is not over until end of Apr. I have notified the owner the the house could be ready for a new tenant early as Mid-March. His response: “I prefer to hold you to the end of the agreed upon lease and have no intention to find another tenant early.” My question to the Bigger Pockets members: as a landlord myself, I cannot see any advantages. What am I missing here? Any idea why the owner would show no interest in another placement? (He is not likely to move in—this is one of at least two rentals I know he owns) Just seems like he had the advantage of early warning. I guess I can say my conscience is clear for trying—but that’s why I’m posting this—I want to make sure I am not missing some perspective and it’s kind of driving me crazy. Thanks for any useful feedback.

Hi Jakub,

Thanks for the note.  Right now I am working SF homes to generate enough capital to start MF apartments. How about you?

-Dustin

Another way you can do this is to create an override amount prior to splitting the proceeds 50-50. In other words, if Partner A is operating the business, they should receive either a fixed amount prior to split proceeds or a certain percentage override (say 5%) meaning the final split might look more like 55-45 even though the cost share was initially 50-50.

With this arrangement, the partner actually working the business still receives some additional compensation and this will hopefully allow the partnership to remain satisfying for all members.

Hi, I am a new investor since 2015 and have spent more time learning over the past year than investing, but now I am ready to get this machine into the next gear!  Looking for ways to network with like minded investors and ultimately start to invest in multi family apartments.