All Forum Posts by: Milton Granados

Hi BP!

I'd like some advice on a recent situation regarding some new tenants.  We recently showed one of our apartments to a young couple who said that they were looking on behalf of the guy's mother who was moving out of her house to downsize.  The guy's mother went through the application process, background and credit checks and signed a 12-month lease with only her name on it.  She did tell us her grandkids would be visiting her frequently but that's understandable.

Now that they have moved all their furniture in, I'm suspicious that the young couple moved in this past weekend with their kids instead of their mom - which is a clear violation of the lease clause for who can live at the premises.

Since they just moved in a couple days ago, it seems like evicting them would be a bit extreme but I'd like to know what you guys think.  Do I confront them and ask them to do background/credit checks and sign new lease?

There must have been a reason for them to lie up to the last minute about who was actually going to be living at the property.  They've paid their first months rent and security deposit but it's the uncertainty about who actually your tenants are.

Thanks in advance for your responses!

@Jerry Puckett Do you still use work with Ron as a CPA?

Hi everyone, I've recently moved down to Texas and I'm in the middle of my first BRRR with a fourplex. Would love to meet everyone and keep sharing the knowledge!

Lissa, congrats on your first deal!  

I have just gone through a very similar situation with buying and househacking a MF property this year.  I'd definitely recommend networking networking networking, I know I'll be doing that a lot next year. Good luck!

@Mara Hedgcock Do you mind sharing who you ended up going with?  This will be my first year doing taxes as an investor in Dallas and I'm also looking for a CPA.

@Demarcus Owens Welcome to BP! I just closed on a fourplex with an FHA loan here in Irving about a month ago, still learning as I go. A lot of properties here in the Dallas area might be a little overpriced but you have to keep running your analyses and keep your eyes open until you can find a property to add value in some way.

@Sejal B. Welcome to BP! How was your meetup experience? I attended a very helpful REIA in Fort Worth a few months ago, always good to network.

@Steevee Reroma good call on the Roth IRA - you always have the option of pulling out what you contribute without early withdrawal penalties other retirement accounts have.

@Deren Huang  I'm sure I will have questions in the coming months on Tulsa, I will be sure to keep you in mind.

Deren,

This information was amazing, thank you for your time!