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Tax, SDIRAs & Cost Segregation

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Jake Kozul
  • Real Estate Investor
  • Grand Rapids, MI
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85
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Extortion (Possibly)

Jake Kozul
  • Real Estate Investor
  • Grand Rapids, MI
Posted Oct 28 2015, 06:05

I have a tenant that lives in one of my units that did some lawn care work for me, which went fine. He ran into some financial trouble recently, and now is saying since the property rental cert wasn't updated (in my market, even if you have a valid certification, you need to update it upon purchase) although I have the existing cert to 2017. Point is, he told me he's entitled to all of the back rent (which he is not) and that he would settle on the spot if I signed a form saying I would pay him an amount and in return, he wouldn't "make this public". The place is in good shape, so I paying some civil fines is not a big deal. My overall question; Is this extortion? I have never been extorted before, but my attorney is saying this is a pretty clear cut case. Has anyone had any experience on this front? 

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