All Forum Posts by: Edward L lauckern

My realtor wouldnt let submit some of my offeres because she said they were too far below asking. If it weren't for her I would have offered those prices.

As far as bids you never know  so you might as well.

 So if it doesnt fit your minds price then dont do it... depending on how far off it is. I wouldnt lose a house over 1000 dollars 

In my area of NY I would always try to get them to sign a surrender of property letter with an exact date and time they will surrender the property back to you. Sometimes I have even offered them money for moving expenses that is paid upon them leaving and leaving the home in rentable condition. I always try these strategies first before going through the courts and so far it has worked. I always try to avoid courts because of time and cost. Also if you must do a court eviction and havent done it before use a lawyer, I know several people who have tried it themselves and they only delay the process further and end up having to get a lawyer anyway. 

You can get much better returns in rei  

@bob prisco What did places rent for at that time? And what do they rent for now? If we did a comparison using inflation calculators I'm curious to see how close it is in relation to purchasing power of that same dollar amount back then

Single family home is great for renting because it's a lot easier to put lawn care snow removal etc on the tenant. I'm not sure how much you owe on it but *holding the mortgage could be an option if it's free of debt. Another if you have debt on it you could do a *land contract or possibly *rent option lease. If you set these up right you basically become the bank and you are free of any maintenance whatsoever. Single family homes make it a lot easier to do those kinds of deals because your market audience is much larger with single family. One thing I will say is if you choose traditional renting and it comes time for you to sell the home, use an inflation calculator to make sure you're getting the same purchasing power or more. A lot of people actually lose money on their homes due to inflation and they dont realize it.  

Not sure how your laws work over there, but I have paid tenants in the past to move out. It's faster and you're going to waste money on a lawyer anyway.. just food for thought

Good question, I'm wondering the same thing 

Can You share photos this home is about an hour away 

Did they withhold rent to pay for plumbing or something?   I dont let tenants deduct anything from rent. I think it just opens doors etc.. if i owe them money I pay them but I dont let them take it out of their rent because then they'll start doing it with every little thing 

Probably found something else they liked better ... if you can get someone in in time then I would give them their money back.. if its costing you money then take what is fair.. I think it is important to keep a good reputation that's why I say this. It's a hassle and it sucks but it's part of what we do