All Forum Posts by: Sarah Albert

We had a tenant sign a year lease and move in on September 1st. They messaged us yesterday saying they’ve had a “drastic life change” and want to break the lease already.

What would you do? Say no to breaking the lease? Keep the deposit? Make them pay until the unit gets rented to someone else? Thanks!

We’re in NM and require a 30-day notice on non-renewal, which will go out this week. Good advice! Glad it’s not 60 days!

Thanks everyone for the advice. We are going forward with the eviction process and the tenant should be served tomorrow. I’ve actually been wondering if this is something she’s done in the past, but there’s just no record of it. So, yes, it will be helpful to future landlords.

I have a tenant that is refusing to pay the last two months of rent. She claims it was paid up front (it wasn’t). We’ve given a 3-day notice to pay or quit and she hasn’t paid, which means we can now start the eviction process. However, her lease expires on July 31 and obviously we won’t be renewing. Is it even worth it to do an eviction at this point? Or do we just cut our losses and keep her deposit?

P.S. For those wondering, the 3-day notice took longer than anticipated as we are out of town and the tenant refused to accept the certified mail we sent. We had to travel to the unit and post the notice instead.

Hi all,

Every time I list a property, I get at least 1-2 people who contact me and want to move in that afternoon/evening. I always tell them no for a number of reasons, one being that the background check usually takes at least 1 day. Also, it just seems like a red flag to me. Has anyone ever let a tenant move in the same day they contact you? Interested in others’ opinions and stories. 

 That’s great to hear, thanks for the reply!

Hi everyone,

My husband and I found a property that we want to make an offer on. The original owner passed away unexpectedly ~1 year ago and their children inherited the property. There’s no mortgage and it has been on the market for a while, so we think this might be a good opportunity to offer seller financing (our first foray into it). However,we’re wondering if that makes sense from the seller’s perspective. The property hasn’t significantly appreciated over the last year so they won’t owe much, if any, in capital gains tax. Would they have to pay taxes on the income from seller financing? Or just the interest? I’m hoping this can be a win-win for both us and the seller. Thanks in advance!

Wow, thank you for the suggestions! I’m not familiar with owner carry, but I will look into it as that sounds like a viable option. The owner is about ~70 years old so this might be something he is interested in. 

Hi all,

I’ve been talking with an owner about purchasing his property. He wants to sell it, but he purchased it with a 1031 exchange and doesn’t want to pay all those taxes (do any of us?).  He doesn’t want to do another 1031 exchange. That’s preventing him from selling. Any ideas for creative financing options I could offer to him? Thanks in advance!

@Michelle St. Claire sorry it took me so long to respond. I did find a good realtor! He actually helped us find a great deal in Albuquerque that we'll be closing on at the end of the month. His name is Tom Lopez and you can find his contact info on the Albuquerque RE/MAX site here: https://www.remax.com/realestateagentoffice/albuqu...

Good luck on your searching! There aren't many multi-families on the MLS in Albuquerque, but every now and then something good comes up!