All Forum Posts by: Tami R.

One of my partners is trying to get rid of this piece of real estate he has in the state of South Dakota. He has a buyer and wants to get as much of the paperwork, etc... filled out as much as possible w/o getting a lawyer involved. When he gets the offer / paperwork filled out then if a lawyer gets involved he will have the buyer pay for all of the work. So I am looking for direction on where to get paperwork to have the buyer fill out.

One of my partners is trying to get rid of this piece of real estate he has in the state of South Dakota. He has a buyer and wants to get as much of the paperwork, etc... filled out as much as possible w/o getting a lawyer involved. When he gets the offer / paperwork filled out then if a lawyer gets involved he will have the buyer pay for all of the work. So I am looking for direction on where to get paperwork to have the buyer fill out.

Couple questions:
1. On our single family homes - we do month-to-month lease. I originally did this to make sure if we wanted to get rid of a tenant we could by saying the lease will expire at the end of the month. The more I talk to LL they say you have to do a year lease- thoughts? We have 15 properties (all within the last 3 years) and had one bad tenant - I think that is pretty good.

2. Storage unit.
We can purchase a storage unit (50 total units)
Purchase $150k
Gross yearly rev $25k-$27k
Expenses $7k-$8k (does not include mortgage)
That would be another $11,500 year
So total annual expense would be at $19,500
Thoughts?
They have a waiting list for the units.

I am not worried about the house being trashed... are you kidding it already is! I've seen some bad houses and I know this will be one but that's why we have guys / gals working for us.

I am going to go ahead with what Jon suggested not renewing their lease. My challenge is: I have to give them 30 days, there rent is due 9/1 for $475... can I wait to give them their letter re: not renewing their lease til I get there $ or what will happen if they get their letter is... they will say i can keep deposit that's there rent. And with a 30 day notice I think they are going to trash the place... I have seen what they have done in 7 days.

So I will give him an eviction notice for October 31st. Should I do this after I get his rent for October?

I was referring to the Pay or Quit. There are three regulations in the signed lease that he is breaking.
The lease is month to month, I have contact with my lawyer and this tenant is a client of their law firm so they are unable to assist with this issue. The tenant is a 18 year old on disability - I wonder why he's on disability. So should I contact him today and inform him that I will be there on Friday at 12:30 or should I just go since I sent the certified letter.

So I would have to give him a 30 day. I live in Iowa and I know there is a seven day to quit.

Do you guys only do business with one realtor or do you do business with multiple realtors? As of January 1st we have bought 6 houses from the same realtor, but there's a guy in town that has over 100 homes and everyone says he prostitutes through realtors but he's successful and he has realtors always looking for houses for him.
Your input?

I had a tenant move in 9/1 and on 9/7 I had to go to the house because of fleas. When I entered the home, there were three dogs (contract stated only 2 dogs), dog crap all over the basement floor, garbage all over the living area and the yard had tons of garbage.
I sent the tenant a certified letter on the 16th of September that stated that we will inspect the home on the 25th of September at 12:30, he has not accepted the letter.
I did do a month to month lease and I want him out... what can I do?