I'm feeling like a bad person.

Lee Bell

Real Estate Appraiser · Isabella lake, CA · Member since 2018 · 628 posts · 491 votes

7y

Why worry, you take possession vacant. Just make sure that it is vacant and change the locks right away.

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Tom Antonio

DE · Member since 2019 · 31 posts · 21 votes

7y

Hi

welcome to the real game of thrones Real Estate. First you are correct this is a business not a charity or non profit or community service, save community and charity work for the part of you life that you have dedicated to those causes, which by the way is a must if you want to be a complete self actualize person. When it comes to your children do not lie to them, better to say nothing then to lie. I have three grown sons they were with me wile growing up never went to day care. I have played the real estate game for over 35 years, I used to tell people I have my kids with me is that ok or I can not meet with you unless my kids can come, never turned down by the way, closings, bank meetings, government offices ect. it was a great education watching adults interact. The statement that your 13 year old will not understand is not correct, children understand and take in way more information than we think. The best education your children can get from you for their life will be to see how you interact with other adults, business, friends, and family, and see that as adults we have to make difficult and some times painful decisions. You should explain to your son the whole picture with out being negative or putting his friends family down. Children understand way more then given credit for. Make sure your son knows and understands the reality of what you do, how you do it and why, you will be pleasantly surprised with his curiosity, interest, and maybe input when you treat him like an intelligent being. By the way all this will make your children better adults make you feel like a better parent and you might even find out you have a budding real estate investor as a son.

"The most important responsibility in your life once you have children is parenting."

The best way to do this is to be a great person and let your children see that, not just at home but the way you engage with the world and react to what life hands you, good luck and start kicking butt.

Thank you for reading and engaging.

3 Reply

Lynnette E.

Rental Property Investor · TN · Member since 2018 · 2k+ posts · 2k+ votes

7y

You can explain to your child that you need to fix the rental half so that you can increase the rent so you have money for whatever (bills, extras, what will work for him to understand). He needs to understand that the rental is to bring income to your family so you need to rent it for as much as the market will bear.

If his friend stays in the unit then they will not want to pay $400 more when the unit is not fixed up. The unit is not worth extra money in its current condition. And that it is not good to try to fix a unit with people living there because it means that their stuff is always getting moved around. They won't like it.

As time goes on maybe he can help with screening the new applications and you can teach him more about choosing tenants.

My two 15 year olds will be helping me with screening and we discuss it so that someday it will be their job. But they have been through evicting my mom's tenants after she passed away and they saw how some 'nice' people can be wicked and can trash a place. And they are doing rehab on our new rentals so they are also seeing how a house can be trashed and how much work it is to fix them.

1 Reply

Tom Antonio

DE · Member since 2019 · 31 posts · 21 votes

7y

Way to go Lynnette

Great work with your Children, they will be winners in a world full of mediocre people. and a much greater asset to you their future families and the world, much more then any real estate deal.

1 Reply

Mark Brown

Contractor · Webster, TX · Member since 2016 · 94 posts · 75 votes

7y

You can just tell them you need them to move out because you need to renovate the whole property, including their unit, and it's not practical for them to live there when you gut the place. Tell them you'll give them double their deposit on move out, plus free rent if they move out by a certain date. Basically, you're buying out their lease. People who have trouble paying their monthly rent would usually jump at the chance to have 30 days no rent plus a double refund of their deposit on move out. You'll come out smelling like a rose. Their kid will talk about the new stuff they are buying or something. Yeah it costs you a little bit of money, but it helps if they cooperate with you. It's a lot better than if they refuse to move, you give them 30 days notice, and then have to file an eviction when they overstay. And the money you spend buying them out can probably be deducted as a business expense on your taxes anyway.

1 Reply

Christopher Lombardi

Developer · Point Pleasant Beach, NJ · Member since 2015 · 303 posts · 216 votes

7y

@Chris Hanisco I understand where you are coming from but do not let these people pull at your heart strings. All of the reasons you gave shows that they are not the tenants you want here. If they are good tenants they shouldn’t have a problem finding a new place to rent. Treat this like the business it is and have the property delivered vacant. It will be so much worse if you have to evict them yourself after taking ownership. At least this way, the current owner is getting them out.

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Alissa Engel

Great Falls, MT · Member since 2017 · 97 posts · 172 votes

7y

@Chris Hanisco I was raised by a single mom who managed a lending company. Often, we went with her to repo cars for nonpayment. We sat in the car while she helped the Sheriff and the tow truck driver identify the vehicle. It was a bit scary as a child....it was alway late at night and people would often come flying out their front doors yelling, cussing, and very angry!

On several occasions, she came back to the car in tears. I remember her telling us that it’s important to pay your bills and not borrow money. She let us know that she felt sad for the people, and that it was important for her to do her job and take care of her family.

Talk to your son; let him know that you have sadness about the choice. And explain why you need to make the tough choice. It will be a good life (and business) lesson for him. You need to take care of your family and set strong boundaries around your business. That being said, there’s a ton of research on emotional intelligence. Emotions are not bad, and can actually help you in business.

1 Reply

Andre Valdes

Member since 2008 · 7 posts · 1 vote

7y

Use a property manager to handle all of this and don't deal with the tenants directly. Talk to your son and explain the situation. Treat him like a business partner so that he knows your thought process.

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Michael J.

Rental Property Investor · Louisville, KY · Member since 2008 · 342 posts · 123 votes

7y

The main thing is always treat people with respect even if you are kicking them out for whatever reason.

If they are month to month then you are under no obligation legally or morally to let them stay as long as they want so don’t feel bad about that. I would worry more about doing it peacefully, it may be a good idea to make it a stipulation the unit/s are vacant before closing but that may be hard to do and delay the process too much.

In the end there are 1,000’s if rentals in most areas do they will find another place to rent and have no stake or entitlements to the property you are looking at purchasing.

Again always be respectful of others but you must do what is best for you, your family and your business. Don’t do any deals that don’t work for you and/or partners first and foremost.

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Tammy Wadlington

Member since 2019 · 2 posts · 0 votes

7y

I would prepare for the seller to inform the tenants they are being evicted per your demands. There's a BIG chance that is going to get back to your son. You may be better off getting ahead of the situation by having a heart to heart with your boy. At 13 he is old enough to understand but his emotions may not be easy for him to process. He'll be disappointed but it is helpful to point out that it's nothing his friend has control over and you are sad that it can't work out, too but you feel there isn't really a good alternative.

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Chris Hanisco

OP

Rental Property Investor · New England · Member since 2010 · 86 posts · 75 votes

7y

Hi everyone,

Thank you for your responses! They are very helpful. I saw the second side of the unit today. It was in rougher shape and a different floor plan than the other. I'm running the numbers and I'm not sure it's worth it after repairs. Plus I have this kid issue to deal with. The boy sent a Snapchat photo to my son today with him and his girlfriend giving the finger. Also, the seller is trying to get me to agree to take possession even if he can't get the tenants out. I refuse to do that. I think I just need to say no to this place. I'm really sad about it (and it's my birthday today). This could have been a great opportunity.

Thanks again.

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Theresa HarrisPro Member

Member since 2019 · 15k+ posts · 11k+ votes

7y

Happy Birthday. Look at the numbers and see if it makes sense; if it doesn't think of all that you've learned for the next place. The tenant's son sounds 'lovely'. Stand firm on it being vacant at possession. You've got a good head on your shoulders and will make the right decision.

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Lynnette E.

Rental Property Investor · TN · Member since 2018 · 2k+ posts · 2k+ votes

7y

And now your son knows what his 'friend' is really like! The friendship should be over with either decision your make, but for sure make the decision to have the unit vacant before you close if you do buy it.

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Nancy P.

Naperville, IL · Member since 2018 · 330 posts · 357 votes

7y

The way I explained this to my older teens, who had the mindset of "we have plenty of money, why are we dragging a tenant to court?" Hey, son, if your boss doesn't pay you, is that fair? " "NO, of course not!" "Even if you don't NEED your paycheck, would you keep working there if you weren't sure you were ever going to get paid?" "Hell NO!". "Well, the tenant is paying MY paycheck. Why should I just sit back and not get paid just because I have enough to pay our bills?" Putting it in those terms helped them get it.

1 Reply

Account Closed

Specialist · Paradise Valley, AZ · Member since 2018 · 3k+ posts · 2k+ votes

7y

Originally posted by @Chris Hanisco:

Hi all,

I'm new here. I'm technically not a landlord yet, but I made an offer on a duplex and it was accepted today. I'm having it inspected this Wednesday. I plan to live there with my two sons and rent out half. I'm feeling bad about something, and I'm hoping some of you can tell me that I'm doing the right thing.

There are month-to-month tenants on each side, and I plan to have the property be vacant at closing.

Here's why I feel bad....
My 13-yo son is (sort of) friends with a tenant's son, and he (the tenant's son) thinks we are moving in next door and everything is going to be peachy. (My son knew my offer was accepted before I was even able to tell him the news, because this kid told him first at school.) I don't know the parents.

I would be okay with keeping them as tenants except for the following reasons:

1. They wouldn't let us in the see their side the other day even with almost a weeks notice. (I felt this showed that they were not respecting their landlord.)

2. The yard is a mess with broken down stuff and debris. It looks like they don't respect the property.

3. They have 2 large dogs. I like dogs, but I don't want them barking and pooping in the yard, and I worry about fleas and shedding and damage.

4. The amount that they pay in rent is about $400-600/mo less than it should be. (Especially once I remodel.)

5. The boy told my son that their current landlord is an a**hole - one reason being that he starts a lawsuit if they are late with their rent. (This tells me they have been late with their rent and think it's no big deal.)

So, I know there are so MANY reasons to make them go, but the "mom" in me feels bad - especially since there are few if any rentals in our little school district. And maybe I'm wrong and they are wonderful people and overwhelmed with life. I know I am!

I know I can't let this bother me. This is an investment and a "business". Plus, I need the rent higher to even make this work. My boys and I come first. How do I handle this delicately? I need a pep talk if anyone is willing. Thanks.

If the tenant doesn't pay the rent they are taking food out of your child's mouth. Explain to your hungry child why he isn't eating and he will resent his friend.

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I'm feeling like a bad person.

I'm feeling like a bad person.

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