All Forum Posts by: Wilson Jing

Hi Duncan,

Welcome to bigger pockets! I am an investor here in Jackson as well. Totally agree with Susan. Its a wonderful time to get in the market here in Jackson. Depending on what you are niche is, I think South Jackson still has a lot of opportunities with good cash flow but more labor intensive.

Thank you everyone for your responses. I had my agent to make clear to the seller that she is to be moved out of the property prior to closing. The seller however was concerned that we would not go through with the purchase, so as a compromise the closing attorney will hold the funds in an escrow. We have given the seller until 11/11 to move out and I will be doing the final walk through on 11/12 to make sure the property has been vacant. This experience has taught me a few things 1. If something doesn't feel right, its ok to walk away from the deal even if that means losing earnest money. 2. Make sure to include language of seller vacating the property prior to closing on next short sell 3. Post on Bigger Pockets sooner instead of second guessing myself.

Good morning everyone,

My name is Wilson and I am an investor who owns 8 properties in Jackson MS. I have a day job and real estate is something I do on the side. So I have a contract for a short sell and everything is settled except that seller wants to stay 11 days after closing to move out. I would like her to vacate the property so I can start rehab and also I feel like the house right now is unsafe since there is a lot of mold/water damage to the back of the house because of a leaky roof. We have not signed any legal documents that states the terms of her occupancy after closing, but the agents are insistent on me doing the closing now. I dont have enough experience with short sells but do the seller normally stay for a period after? (The seller's agent said I should be ethical about this) Also who would be responsible for cleaning up if she still leaves a mess  (south jackson tenants will just trash the place usually cost ~500 to clean up after them)? would I be responsible for her safety? (like I said mold/bad roof) Is there any law that protects me in this case for being a good person and letting her stay on my property free of charge after closing to get her move complete? It just seems after closing, everyone else involved in the deal gets to wipe their hands clean and I am left with a tenant who obviously has a lot of attachment to the house who needs to move in 11 days. Anyways, frustrated about this deal.

Sincerely

Wilson

Stephen Younger is awesome, real estate is his bread and butter. Tell him Wilson send you!

Are your rental out of state?

Im have C properties as well. Returns are great but a lot of drama. What is your strategy for finding good contractors to help you with your properties? I just took my 6 properties back from my property manager and I am really struggling with the whole landlording process.