All Forum Posts by: Sharon Barros

I am a long distance investor with rental houses in Kansas City Mo.  I have a property that needs brush cut back and downed trees removed.  I am looking for a recommendation to a company that will be affordable and reliable.

That is a great question! no one can seem to answer that clearly. The logical "attorney" speak would be that if the 60 day notice document was filed/served prior to any late pay and any notice was given to the landlord of financial distress then the tenant may be out of luck..... I was also told the tenant may also have to produce proof of financial hardship as well.

Hello BP, 

I am looking to buy a primary SFR home that is currently a rental in California. The seller wants to sell and I want to buy. However, the seller has a tenant in place on month to month and they are current on rent ( I believe). The seller cares dearly for the tenant and feels bad asking them to move. They have not raised the tenants rent since 1994 so the tenant is getting a smokin' deal. The landlord is also afraid of the moratorium in place until June 30th, 2021.

My question is as far as I can tell (through research and speaking to an attorney) that the Moratorium only covers a non paying tenant not a current month to month tenant. And that the seller could simply notify the tenants with 60 day notice to vacate on the basis of selling the property with proof of escrow. (thus not an eviction) 

Does anyone else have experience with this issue and any advice on how to coach the seller on how to have the confidence to simply take action? They want to sell but they do not have a clue on how to remove the tenant without a headache and are afraid of conflict. 

 The home and the lot would be a great spot to raise my family and I want to help every party involved. 

Any Advice/stories/connections would be great! 

@Chris Purcell

@Michael Randle

@Elijah F.

Thank you Guys for the input!

@Chris Martin Thank you for the steps. FYI we are getting the LL's Mail not addressed to us. We don't open it but the outside had big red "notice of default" and "final notice".  We are also getting yellow letter mailers form investors I recognize those since I have sent them. 

I have considered the eviction yes.... We are talking to a friend of ours who is an attorney. 

After much research I have found out the loan balance consists of two loans totaling $356K and the estimated property value is $510k. The fees from what I can see my LL is behind is $24k. The mortgage looks like the rate went from 6%~ to 11%~ since 2007. Original purchase price was $450k. He has 27 days to come up with the money or it goes to auction.

Is this Scenario Possible? ( I am just spitballing here) Could I sign a contract with the seller that I agree to get him current on his payments (24K~) And for doing so he would agree to sell the property to me for what is left on the loan (356k) and then I have equity in the prop? estimated value (510k)   .......... so 510k - 356k -24k= 130K equity. He gets saved from foreclosure and can walk away? I can then refi in 6 months and take my money back out. 

Is that too simple? am I missing something?

@Chris Purcell 

I told him if you ever need to sell or if you are in a bind please let us know first because we are interested in purchasing the unit. (that is when I got the "OK Thanks" answer)

I suppose I need to be more direct.... I was trying to be sensitive about him being potentially in financial trouble. 

I have since confirmed the prop is in the foreclosure process and he purchased in 2007.... my guess is he is underwater. 

Is there any way to find out how much he owes? I tried calling the company in charge of the foreclosure process and they wouldn't give me any details. 

@Chris Purcell

@Ron Healy 

I have asked him and he said "Ok Thanks" that was two months ago... I have yet to follow up. 

Hello! 

I am renting a townhome in Southern California and I keep getting notice do default letters.( our land lord has not changed his mailing address) I have approached my land lord about it and he said not to worry and that he was out of the country and is now caught up...... not sure I am buying that... someone has been in the county cashing my rent checks :)

We like where we live and would consider buying it at a discount. How do we go about that? If it is in pre foreclosure can we purchase it? if it goes to full foreclosure can we purchase it? Since we have been renting the prop do we have some sort of first right or refusal? 

I have checked with the county and the property taxes are current so we cannot get a tax lien on it...

Looking for some thoughts and ideas.

Thank you!

Hello Jacob, 

Can you please email me financials as well. 

[email protected]

I am looking for a good way to do recordkeeping on my rental properties.  I use a property manager and currently map everythin in excel but I am looking for something better.  Any thoughts?