All Forum Posts by: Sara C.

Appreciate everyone's input so much! I'll keep you updated! 

Also, I realize now I was using the term "notice" too casually in this thread. She has been given 30 days officially.

Thanks all!

@Lynn McGeein yep good point. That was my original thought as well. Although I do think an investor would be able to do ok here. Here's some background info on the house on an old thread. This was our personal home at one point... I didn't buy it to intentionally invest at the time. 

@Thomas S. I'm happy to give you all up-votes. Doing it now. We're all on the same team here! 

Appreciate everyone's help, seriously!

Thanks! @Bjorik Mutize good point about setting up the next buying for success! 

@Steve Hall long story as to my "why" for selling it, but it's never been a good investment for me and I'd like to put my money elsewhere. Thanks for your input!

@Theresa Harris thank you! I think you're right... this seems to be the consensus. 

@Thomas S. I don't see how I created a big problem. I'm open to ideas on how you would have handled it differently. Seems like selling it with her in place is a good option. 

Hi BP friends!

I'm planning on selling a rental this summer. I have a long-term, stable tenant. Her lease was up in January, which is when I originally wanted to sell, but she asked if she could stay until the end of May so her grandson could finish out the school year. So, here we are in May, and she's had over 7 months of notice. 

She isn't being hostile or anything of that nature, but simply is having a hard time finding a new place. She's older and has trouble navigating digital application systems, but honestly I don't know how hard she's trying. I do not want to delay listing the house any longer. 

So, my questions:

• Should I go ahead and list with her living there? (background.. I'm going to list 'as-is' at a competitive price, so investors may very well be interested.)
• Do I personally help find her a place (I'm a realtor, so it's not too crazy of a thing for me to do)?
• Other options? 

I really don't want to get into an eviction or negative situation. She's been a really easy, paying tenant, but it's time for her to go. 

@Edgar Butler Jr yep you are correct! 

@Edgar Butler Jr After I purchased the properties using conventional financing the rest was typical for the process. We rehabbed using our own cash, put tenants in place, and then refinanced at 75% of the ARV. So, there are 2 sets of closing costs—but we worked those into our numbers and made sure they were covered (mostly). For both, I've had to leave about 10-15K in each deal, which I'm comfortable with.

Not a wholesaler but I've been using Window World. They've been the most cost effective I've been able to found. Pretty sure they're nation-wide. 

I've been using the Moore Team - they'll do 75% LTV on the rehabbed appraised value after 6 months.

https://www.fairwayindependentmc.com/locations/geo...

I work with Bob Nolan there - he's great! 

I really like working with McCurdy and Candler. They are in downtown Decatur.

https://mccurdycandler.com/