Getting my rental RENTED ASAP!
Hey fellow investors,
I'm new and despite all the training & videos i've read and watched, i'm still finding myself in a dilemma. I purchased my first rental property from the MLS but at a discount. Properties in the area were selling for 135K & I negotiated mine down to 105K each-this was a duplex townhome & i purchased both sides. This was an owner that had passed this to his son via inheritance/death, but the son was not interested especially bc it needed work. It sat on the MLS about a year and many investors passed it. That could be my first problem. These came with tenants. One seems to be clean & pays on time but her rent was way under market at $1195. The other was a long term tenant paying $1350 a month but he seems to be a hoarder, at least in his garage & he relies on social security to pay rent. After i argued to get partial security deposit, a day before closing, thats when i found out he was behind payments almost two months. Deceitful property managers!!! Anyway, i prepared my mid to start eviction. I sent a warning to pay by two weeks-(stupid i know), but he did & its been on time ever since (4 months now). Now he has a dog, again lease, and refused to sign a annual lease. He wants a monthly which i honored for 4 months to take me into summer. Unfortunately, the other tenant also wants a monthly so i decided not to honor either & i'm sending a notice to terminate both lease agreements if they didn't sign. They did not so I sent certified mail today, for a july 15 vacate.
So what in the world do i do now? I was trying to be passionate but firm but now Im facing a double vacancies!!! I dont want to take pics of the interior of the property yet bc its not up to par. Ive posted to craigslist (not sure if i did that correctly), Ive also posted to zillow which sent it to hotpads, trulia, & one other site. Im thinking i want to owner finance for 2-3 years. How do i find those kind of buyers. What can i really do, any advice please.