All Forum Posts by: Emily B.

Since they are month to month, you can give 30 days notice that you are essentially ending the lease. This is different from an eviction. A month to month lease allows for both tenant and landlord to have the option to 'not renew' that lease with proper notice.

I'm curious why you want to back out at this point, if nothing came from the inspections. Were you doing this alone or working with an agent? If working with an agent, they should guide you through this. Financing or cash? If financing and it fell through, that is typically another way "out" of a contract legally. What was the end goal for you - wholesale the contract, fix/flip, rent? If you were planning to wholesale and didn't get a buyer, maybe it wasn't a good deal? Just throwing out these questions in case you're in a situation where for some reason you think you can't close on the deal and maybe just need some ideas on how to make it happen.

Overall though, I totally agree with Will's advice above, that honesty is the best policy for your own reputation.

Agreed with takin things slow and other recommendations here. Along with payment history, you should have received all tenant documentation from the previous manager so you can have a better handle on what screening was (or wasn’t) done. You sound like you’re in a fantastic position to turn things around while still keeping some income and stability. Congrats!

@Darian Lupton congrats on grad school! I'm an alum myself, so welcome to the family :) My partner and I both invest and work in real estate in the area and would be happy to answer any questions you may have. Reach out any time.

@Daniel Martinez we invest in Lansing and surrounding areas. We’re close enough to campus (but not East Lansing) and have rented to both students and faculty with success. The market is still hot so you’ll have to move quickly if you find something you want. My partner is a realtor in the area and I’d be happy to connect you, if you’d like. Send me a pm if so. I saw MSU is waiving the freshman requirement to live on campus due to Covid which makes it a great time to get your daughter into a house hacking situation for her time here. 

Nice!! 

A lot of real estate meetups have turned to some form of virtual meeting since Covide, I would suggest checking out meetup.com and looking for REI groups. Easy way to start making connections and touching different areas of the state.

Agreed with the statement to seek an attorney, but if the register of deeds doesn't have anything, you might try the local municipality the development is in (township, for example) just to see if they have any documentation from when the master plan was initially approved and zoned. 

East Lansing has restrictions like that.  I’d suggest following Michael’s advice along with verifying with whichever municipality would be issuing the rental certificate for any restrictions. 

Nice! I remember seeing that one. Would love to see what you do with it.