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This tenant of yours is probably on a month to month basis with section 8. I take it that you want this person out and want someone else renting it. Before you go to your lawyer!!!

I would talk to section 8 in your area and let them know that since this is a month to month lease I would like to terminate this agreement ( I believe you have to give at least 30 days in writing).

Also talk with your tenant and ask them to move. Its better if they move out on their own. This way you do not have to evict the tenant. It's not the end of the world if you have to evict it just takes about 2 months.

If you need me to explain in more depth you can email me

cash invester is right.

But I would think twice about starting a partnership, if you can do it by yourself I would recommend it. To many people that I know end up dissolving the partnership and going there seperate ways.

Marc

Good for you.

Let me know if I can offer any advice with regard to being a landlord, currently I have over 50 units rented. Through trial and error I have now have a good group of tenants.

Marc

Jandr has made some good points.

yongho, I am currently purchasing real estate in CT. The market in CT and parts of NY are still very good for investments. Let me know if I can help out.

Marc

Terri,

You need to decide for yourself what kind of investing I want to do! For example, do you want to be a landlord or do you want to just flip a property.

Let me know if I can answer any questions for you.

Marc

Great advice!!!

I purchased over 50 condos in less than 3 years. There was work involved but with it came great rewards.

Sometimes you just have to talk that first step.

Marc

I would not waste your time with looking at the newspaper for good deals on properties. If you want to get a good price, you need to take a different approach and "cut out the competition".

I recommend renting properties because you have a monthly cash flow but you can just as easily fix them up and sell it.

Let me know if I can answer any of your questions.

Marc

Purchasing without competition
www.greenfieldent.com

biggerpro,

Those are all great points. I also recommend:
1. Know your market (average price properties are selling for and what they can be rented at)

2. Set limits for yourself when biding for a property. Its easy to get carried away and buy to high.

Marks,

Let me know if I can help you out in New York at all. I would be more than happy to give you advice on purchasing condominiums. Please let me know.

purchase without competition
www.greenfieldent.com

Jason,

Like bigdave says, flipping properties has its risks but it can also have big rewards. I have flipped acouple of properties but you have to be careful because once you fix it up and the property doesn't sell your stuck paying the mortgage each month.

Thats why I have been purchasing properties and then renting it out for a profit. This way I have options, I could sell it down the road or just keep renting it out and generating a profit each month.

Marc
Purchasing without competition
www.greenfieldent.com