All Forum Posts by: Rufaro Chirewa

Thank you for the response. 
The reason I was thinking of doing this was so that I can quickly get the house back on the market. They have stalled already with this month where they sent me a fake screenshot of a Zelle transfer. So I had a feeling they just wanted to waste my time, and I don’t know what other crazy things they wanted to do in/with the house. 

If all parties sign to terminate the lease, is there grounds for them to sue for terminating lease and not following lease procedure, even though they requested to leave? I’m just a bit antsy about what tricks they may try. 

My tenant is late on rent, and I found out they may be a scam as they gave me a fake name. (just found out)

They reached out saying that they want to leave and we can prorate the deposit for the days they haven't paid rent, then we can return the remainder of the deposit. I would rather do this than go the long eviction route, if possible, as I also want them out.

I want to make sure that if I do this I am not breaking the law, and they can't come back to try and sue or mess with me. 

If this is possible how would we legally terminate the lease? I am okay with waiving the early termination fee, I just want them to go. 

Hi everyone, 

I purchased a 2 bed and 2 bath townhouse in Kennesaw, GA for $245k which I renoed to 2 beds 4 baths, finished the basement, added counter tops and repainted. House looks like it will appraise for $320k on the high end. I’ve put about $35k into the house (closing costs, renos, mortgage) and my next mortgage payment is coming up. 

I was planning to rent it but with a payment of $2k it’s not looking promising. Thought of short-term but didn’t get much traction and still risky. I’m thinking of selling to at least come out with $30k to $40k as I feel stuck in a mortgage. This option makes me nervous because there’s not much I can do with that amount to get something that will help me cash flow. 

I’m open to suggestions on what strategies to use with this $30k to $40k if I sell. (This will also be my first sell). 

Thank you all for the feedback. I ended up turning away from this offer. The seller then reduced the selling price by $50K, but the rates still didn't make sense for this to be a good deal.  

Hi everyone, 

I am trying to buy a property that I can rent out. Interest rates have shot up, and we bid $50k above the asking price, because of how competitive the market is. I am now unsure on whether to continue and buy this house that has now a high-interest rate, and is overpriced. The mortgage would be around $1,800 to $2,000. Before the high rates, it was $300 less. This leaves my cash flow at $100 if I am lucky! 

I am thinking of backing out, and restarting the property hunt, or taking that leap, and hope rentals will go up, or that I can make some equity in the next two years and refinance or sell.

Would love your opinions.