All Forum Posts by: Richard Ball

@Michael Miller Correct if they are on a month-to-month you can send them a 30 day notice. Just as @Account Closed stated do NOT give a reason other then possession. Hopefully you received the security deposit in the purchase as you will have to refund it to them within 30 days of them moving out.

@Maria Sophia @Bruce Scannell is correct, we have a redemption period. Read this: http://www.michigan.gov/mshda/0,4641,7-141-45866-1...

Talk to a lawyer, they are going to tell you to not make any improvements on the property for the 6 months they are in redemption as she could technically pay off the debt and take the property back.

@Cory Mccarthy Hello! You can pick it up on Amazon or anywhere books are sold. NOLO is a publisher that has a niche on publishing legal and business related books. I bought the 2012 version, I need to buy this years version as a lot has changed since then. It is kind of dry but if you love business and keeping your money it doesn't hurt to at least know what you don't know so you can ask a professional, if that makes sense.

@John Suralik Instead of calling around I would attend a local REIA and talk with people there about who they use. If you are buying out of state attending a local REIA meeting to the location you are buying is going to be even more critical because you may need those contacts at some point.

What does the lease say? If they are on a month to month send them a notice, if they are locked in start reviewing the lease and find out what rules they are breaking and evict them.

Hello and welcome to BP! I recommend picking up NOLO Every Landlord's Tax Deduction Guide to become more familiar with how taxes for landlords work. Congrats on your first step!

Welcome @Massimo Salerno! Your first step is to visit Detroit so you can tour the city and get first hand knowledge. While you are here go to a REI meeting and talk to some locals about there business. After you take the first step you'll know what to do.,

My favorite quote

“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”

― Warren Buffett

The moment you feel confident in Detroit let me know so I can start my exit strategy.

Hello @Denise Kirnberger what company is this?

Welcome to BP!