All Forum Posts by: Mike Smith

The Seller only provided one out of the four leases.   She did not have the others.  The other tenants were on a MTM and this tenant supposedly had a lease that expires 8/14/20.   There is an email from her daughter that informed us that she did not have a written lease with this tenant.   Let's just say she didn't manage the building well.    On 6/19 I provided 30 day notice to all tenants to terminate.   I just received his lease from him and like said, if it does expire 8/14/20 then I have to honor that date.   So I can send a new 30 day notice to terminate now and if he doesn't move on 8/14 then I can do the Writ.   I just didn't know if because the lease doesn't have a termination date, whether that would be month to month or a year lease.  

Hello!  I just purchased an apartment building and I am evicting the tenants.   I was given a lease by the tenant and here is the term language.    "Term.  This Agreement shall commence on 8/15/19 and shall continue as a lease for term.  The termination date shall be on ____________  at 11:59 pm.  

What does this mean?  Does it expire 8/14/20 or is it a Month to Month lease?     

I am purchasing a multi-family and plan to terminate the tenant's leases so that I can renovate the building.   If I am scheduled to close Thursday, June 18, when can I mail the letters?    Day of closing or few days prior?   Didn't know if I had to wait to close first.   Thanks 

Any recommendations on what type of tub to use in my rental?    Also, if you have a specific tub that you use at Home Depot or Lowes, which one is it?   

It's too late.  We are couple weeks from closing.   She couldn't even provide all of the leases and a rent roll. There is no way she would go through the process of evicting.   

Purchasing a multifamily and all units are Section 8.   I want to evict all so that I can update each apartment, electrical, etc.  They are all on MTM leases.   Can I legally sent notice to vacate?   If so, how many days?   I don't want to face any legal issues in doing so.  Any input is appreciated.   

Do I want ACV or Replacement for my fourplex?

Purchasing an investment property and will be closing in 45 days.  Seller wants to be able to receive all past due rents after closing.   Shouldn't they collect past due prior to closing?  And if they don't then oh well.   I don't want to be responsible to pay the Seller monies for past due rents after the building closes. Its legally my building at that point. Thoughts?   

Does anyone know the current interest rates for a multiunit? thanks