All Forum Posts by: Jessica Brennan

@James Ma we have offered cash and he said he wouldn't leave til a judge forced him out. 

@Jason P. he won't be getting anything from the sale, another reason he is less willing to move out. 

@David Goings thanks! how did your situation turn out?

@Matthew Haraminac I agree, sadly I think I will have to walk if she can't get him out. 

@Jason P. I couldn't rent to him as he hasn't worked for 3 years and refuses to get a job. He said he won't leave without a court order. 

@Kae M. did that today through his sister, he said he would leave "when a judge ordered it and not a minute sooner"

@Chris Trybus I'm going to try that!

@Michael Noto I'll try that! thanks!

@Ned J.I was able to tour the upstairs since it is separate and he doesn't live there. the down stairs needs a lot of work as in it looks like a dirty frat house (looked in through the windows) there is trash everywhere and the walls have years of cigarette smoke on them. the foundation looks good, HVAC too (was able to get into the basement since there is a exterior entrance. however the brother has convictions for "criminal property damage" so I guess my concern is him taking a bat to everything/ ripping out plumbing, and the numbers not working with 70K in damages. I was hoping there was so sort of additional insurance I could purchase on it. 

I have an opportunity to purchase an off market deal, however I'm hoping someone here has dealt with something similar and can give some advice. The house is being sold by the daughter of the man that lived there. However the son lived with his father. Son doesn't work and is refusing to move out. She is from out of state and just in town to close out all of her fathers business. The house is for sale for well under market value because of the problem that the brother is. He won't let anyone in, and she had to get the police involved to just get pictures of the inside. The house was converted, and now has a full apartment upstairs that is separately metered. The upstairs apartment is in perfect condition, the downstairs needs a lot of work. I called my insurance company to see if they will cover any damage that he causes after the house is in my possession, they said they would but I would need to show it was in good order prior to his 'vandalism', but we can't gain access. This also means no inspection. Does anyone have experience with this? Its an amazing deal that I don't want to walk away from (Cap rate 18+%, IRR 67%) but obviously that would change if he destroyed the house.