Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Willie Marte

Willie Marte has started 1 posts and replied 8 times.

Post: Rented to Previous Owner

Willie MartePosted
  • Accountant
  • Fort Lauderdale, FL
  • Posts 8
  • Votes 1
@Juan S. I thought paying goodwill (slashing off 29k off asking price) with goodwill (letting him stay there for three months at discounted price) would be a win-win for both.

Post: Rented to Previous Owner

Willie MartePosted
  • Accountant
  • Fort Lauderdale, FL
  • Posts 8
  • Votes 1
@Anthony Wick I’m not living there yet, if not it wouldn’t hurt me. I’m waiting for him to move out in order to take the unit that he is in.

Post: Rented to Previous Owner

Willie MartePosted
  • Accountant
  • Fort Lauderdale, FL
  • Posts 8
  • Votes 1
@Jerel Ehlert I learned my lesson! Too many emotions attached to owning a home

Post: Rented to Previous Owner

Willie MartePosted
  • Accountant
  • Fort Lauderdale, FL
  • Posts 8
  • Votes 1
@Jeff Richardson yeah he was expecting me to act as a landlord, and I was expecting him to act as he would normally when he owned the house lol

Post: Rented to Previous Owner

Willie MartePosted
  • Accountant
  • Fort Lauderdale, FL
  • Posts 8
  • Votes 1
@Marian Smith thank you for the advise Marian. It gives me a different perspective!

Post: Rented to Previous Owner

Willie MartePosted
  • Accountant
  • Fort Lauderdale, FL
  • Posts 8
  • Votes 1
@Thomas S. Thank you for the advice Thomas. So many lessons learned in a month lol!

Post: Rented to Previous Owner

Willie MartePosted
  • Accountant
  • Fort Lauderdale, FL
  • Posts 8
  • Votes 1
@Dennis M. Wouldn’t recommend it to nobody, unless proper lease is written.

Post: Rented to Previous Owner

Willie MartePosted
  • Accountant
  • Fort Lauderdale, FL
  • Posts 8
  • Votes 1

Hello Everyone,

First post here on BP forum, been a fan for a while.

I bought my first Multi-Family property a month ago. The previous owner needed a place to stay for approximately 3 months. Since he slashed 29k off the asking price, I decided to rent it to him for half the market rent price ($650). We did not create a lease and our only reference is an addendum on the sales contract for the house. He paid me three months in full at the day of the closing with a check.

Everything was fine and dandy until he texted me one day saying that I have to curbside his trash. I was so confused because, in my mind, he would be living there just as he normally would before the deal. So I went and curbsided the trash (It’s close to my apartment and I went to pick up my mail which I started forwarding there after the close) then I text him saying that I curbsided the trash and I was wondering why didn’t he want do it himself, after all he’s been doing it all these years? He replied “Are you serious?” And said that the grass need to be cut also.

I was in shock. There were no parameters set before or after the deal, and now we have been going back and forth. He does not want to take out the trash or cut the grass. He also hasn’t given me the keys to his side of the property.

My question is, should I wait the 3 months and see what he does next and curbside his trash? Or should I attempt to evict him or something along those lines before the time comes? Any other strategies that you guys believe I should do?

Thank you