All Forum Posts by: David Stefanovic

Thanks Jeff and Michelle. I'm almost certain my tenants want to continue to rent and not purchase the condos, but it doesn't hurt to ask them. Of course, I don't want to lose these tenants if I don't end up selling the condos.

Hi, my wife and I currently own 2 condos with very good tenants with leases that expire later this year. We are looking to sell both condos in the very near future to pay off debt on other investment properties we have. The tenants we have are very good and would be ideal for another investor to take ownership. However, should we or should we not tell our tenants that we are selling our condos? In the event that we can not sell our condos to another investor, we don't want to scare away our tenants in not renewing their leases for another year as they have comfort knowing that we will be renewing their leases as long as we own the condos. Looking for opinions?

Hi Laurie,

Another option possibly to consider. If you are able to sell your current house that you live in, you can hopefully be able to use the 100% equity in your house to purchase a bigger and nicer house through a short sale or foreclosure at a deep discount. This will give you the best opportunity to maximize your equity and hopefully still be able to have some additional liquid cash that you may have saved up for your rental properties. For short sales and foreclosures deals, cash is king!

My wife and I own rental properties and was able to purchase a beautiful 17 year old, 4 bedroom, all brick house in a very good location via a short sale. We worked with the listing agent directly that was selling the house and with the cash offer,deal was able to get the house at a deep discount. With a little luck on your side and working with the right agent, you can make this happen.

Agreed with the other responses. You need to fire your PM first and then hire a good lawyer that has experience in evictions. 

Another vote for NTN National Tenant Network. I paid a one time membership fee of $35. So worth it as I have screened all my tenants using their service and have yet to be disappointed. Strongly recommend.

Thanks Paul for the info.

Thanks Brie. So true, W2 does help. Same here, as I decided to stick with my full time corporate job as I was being promoted at the time.

Thanks Wendell. I do plan on listening in on some of the podcasts.

Thanks. I've always had an interest and passion in real estate. I've always wanted to be my own investor. I got out of being a licensed realtor as this was a side job that I could no longer maintain as I was being promoted at the job I was holding full time.

Hi Laniece,

Yes, hope we get to cross paths on BP.