All Forum Posts by: Helen Zhang

Nathan sent me his version of the early termination agreement, but I went with a different version of it. And yes, there was an early termination clause in my lease but it is strictly with my agreement to proceed. 

Hello, 

My tenant would like to terminate his rental contract with me and I would like to grant him that. I am interested in letting him pay 200% of the current rent. I don't want to call it a reletting fee as I do not expect him to pay for rent until a tenant replaces him. What would this fee called? is it early termination fee? and is there any template for this type of agreement I could use?

Thanks,

Helen Z

From my experience in California and Texas, I believe this is very reasonable even assuming the height of your interior is 8 feet. 

I recently run into a weird situation that I have never run into before. I inherited a group of tenants after purchasing a property. The previous owner has no lease contract with these tenants. The tenants are paying on time. But, the house is really in bad condition. I mean, mold all over the walls with moisture damage, and it appears that the tenants are hoarders. The property has not been in good condition for probably years. 

To prevent further damage, I really do think I should go fix it. And this means tearing down walls and possibly a few supporting beams and rebuilding some parts of the plumbing system.  This sounds dangerous with tenants living in it. And the tenants really really want to stay.  

I feel like the right thing to do is to ask the tenants to move and fix up the house to avoid legal issues down the road. I would like to hear some advice on:

1. If I do want tenants to move out, and give a generous 60-day move-out notice, how can I make sure they do not sue me for the current condition of the house (just to make it harder for me to get them out)? 

2. Tenants have stated that they are willing to stay here while we tear down walls. Is this really safe? have any of you ever done that before?

I'm not sure what to do in this situation. Please advice. 

Not sure if everyone feels the same way as I do… 

Ever since the pandemic, I have not seen any of the syndicators that I previously invested with come up with solid deals. I don’t understand why would they make purchases or construct apartment buildings around 220k-270k per door (1-3bd apartments) while single family residence built in early 2000s in the area are for 270k-325k. These are the same syndicators that would buy 100k per door when single family prices were 200k+. And no they are not buy and hold forever, they are just construct to sell or buy hold and sell.

What am I missing out on? Why are they doing this?

 Thanks for the advice. I really should clearly state that the foreclosures are in california. 

I honestly have a hard time preparing the right speech to make the occupied tenants feel good about moving out. It is a soft skill I simply do not have, so I am here to learn from you guys. 

I am happy to offer cash, but I do not want them to think that my offer is negotiable. I would like to learn from the pros who have done this a dozen times a year and say these things like a speech that they have prepared before knocking on the doors. 

At this point I am just very uncertain on what Biden is proposing. Cap at 500k for 1031 exchange? That sounds like a disaster for new home buyers because investors like me will buy up all the smaller houses

I think you might have mistakenly thought of primary resident when I am talking abt potential changes that Biden proposed. I am hoping for this isnt going to pass but I thought I should prepare for it and not wait when it happens and react to it.

https://www.google.com/amp/s/w...

I'm not sure if anyone else has encountered this issue... but I felt like I am almost at the point where I am forced to sell my investment property because of the recent changes in 1031 exchange where tax deferral is more than 500k. 

My property have gained more than 450k at this point, and I wonder if I sell my property now and exchange to buy two other smaller properties with 1031 exchange now, and let these two smaller property grow overtime. In future when I do 1031 exchange again, will I be taxed with capital gain when each of the smaller property did not gain up to 500k?