All Forum Posts by: Jennifer Fernéz

 How do I do that if I don't own the property yet?   My lender said I can't qualify for a loan unless a unit is vacant.   He said if a tenant signs a 'notice to vacate' then I can get the loan.   What is a good strategy in getting a tenant agree to sign this??

 Well my lender said I can not qualify for an owner occupied loan unless one of the properties is vacant.   He said I need to get a signature on a 'notice to vacate' from one of the tenants to even be approved for the loan.   If I don't own the property yet, how do I get them to go?   What do I put in my offer?

Hi all. I want to buy a triplex in my area. Please help! I want to occupy one of the units so I can get an owner-occupied loan and only have to put down 3.5%. However, the seller's agent expressed 'All tenants want to stay'. How could I get one of them to agree to sign an agreement to vacate the property? Many investors are looking at the property so I was going to offer full price with $10,000 deposit.

Rent situation:

Unit 1 -- Current: $800/mo Projected $1200/mo (this is the one i want) - month to month

Unit 2 -- Current: $900/mo Projected $1000/mo - lease expires Jan 2025

Unit 3 -- Current: $800/mo Projected $1200/mo - lease expires Jan 2025

Any ideas? Please help!

Hi all.   I want to buy a triplex in my area.   Please help!   I want to occupy one of the units so I can get an owner-occupied loan and only have to put down 3.5%.   However, the seller's agent expressed 'All tenants want to stay'.   How could I get one of them to agree to sign an agreement to vacate the property?   Many investors are looking at the property so I was going to offer full price with $10,000 deposit.

Rent situation:

Unit 1 -- Current:  $800/mo Projected $1200/mo (this is the one i want) - month to month

Unit 2 -- Current:  $900/mo Projected $1000/mo - lease expires Jan 2025

Unit 3 -- Current:  $800/mo Projected $1200/mo - lease expires Jan 2025

Any ideas?   Please help!

Im looking at properties to buy, and saw a tenant in a 4-unit property I like paid $1,000 in late fees. They are also smokers and their unit is horrid. They are month to month. What are common practices to remove them? Another tenant in the same property pays $750 a month and should be paying more around $1100. What is the best way to increase her rent?   Do I do it all at once?  I need help with etiquette and what to do 

Im looking at properties to buy, and saw a tenant in a 4-unit property I like paid $1,000 in late fees.    They are also smokers and their unit is horrid.  They are month to month.  What are common practices to remove them?   Another tenant in the same property pays $750 a month and should be paying more around $1100.   What is the best way to increase her rent?

Right, but how do I deliver the news that their lease will not be renewed?

Hi all,

I'm new to investing and saw a 4-unit property this week.   I like it and the numbers look decent.

Pro Forma is 7.21% and CoC ROI is 10.04%.

However one of the tenants is late for rent ($1,000 in late fees this year), a smoker and their unit is hard to even be in.   It's the biggest unit of the 4 with the highest rent.

What can I expect with this tenent?   They are month to month.   What is the etiquette in evicting?   Sorry to sound cold.