All Forum Posts by: Luke Dilorenzo

@Eric C.

These are all scenarios I have played out in my head. I even thought about living in an RV in the back of the property.

@Russell Brazil

It isn’t for no apparent reason. My loan is requiring me to reside in one of the four units for at least 12 months.

@Kizzy Dominguez

They disclosed this to me via phone conversation when they received my notice.

@John Collins

Yes, I have been reaching out to other landlords in the area. Not many vacancies out there, which in this situation is some what bittersweet.

@Nathan G.

They disclosed this information to me. Literally told me they are undocumented and cannot find another place and no living relatives in the United States.

@Theresa Harris

Yes just one unit.

@Theresa Harris

Trust me I would love to keep them. However my Loan terms require my residency at the unit for 12 months.

@Sue K.

Thank you for the words of advise. I will do as such and let them know it is what it is. Which I have done. Thanks again

Hello everyone,

I feel like maybe I’m being a softy, however I wanted some input from the more experienced landlords out there on how they would/have handled this situation.

So recently I closed and owner occupy on a 4-plex. The plex is occupied by 4 Latino families that have all been there 10+ years. I sent the month to month termination letter with one months rent (825$) and 3 months to vacate.

I received a call this morning from the tenants literally in tears and broken English asking

“why us?” And “we will be homeless, no where for us to go, please we pay more for rent to stay”

Needless to say My heart broke.

How would a professional manager go through with this?

@Thiago Scharenberg

I think I'm the same situation and I'm not sure what the ramifications are if I go to close. I refinanced a primary 7 months ago and went to purchase recently not truly understanding that they want you to live there the full 12 months. Will I get into some heat if I close on this FHA loan on the new residence and move from the primary? Please advise. Now I'm worried.