All Forum Posts by: Janelle Shaw

Hi @John Jasko.  Thanks for your post.  Do you have a realtor that you work with up in Steubenville, OH?  I am looking for one and wondering if you or anyone can share a contact.  Many thanks!!

Thank you all for the recommendations/advice!!  I greatly appreciate it!

Hi Biggerpockets community! So grateful for you all. I have a scenario that I haven’t had to deal with until now and appreciate any and all advice!

My tenant wants to break their lease because parents are moving from Asia to the US and impacts their living situation. They also cited the pandemic creating a lot of challenges heightened the importance of physical proximity to family in Austin as they are also expecting their 2nd child. They want to live closer to family in Austin and therefore need to terminate their occupancy early.

The lease clearly states that tenant shall not be released from rent liability unless they get writing from me. I want to be understanding but they were supposed to stay until the end of the year and they were pretty high maintenance tenants. I put about $25k in upgrades before they moved in and after they moved in accommodated their additional “high” maintenance requests. They are a year into their lease. They seem like the type of tenants that would hire a lawyer, but then again in the lease they signed, it seems pretty legally binding.  The townhouse is a  3 bedroom 2 full 2 half bath house in Virginia.  As mentioned, they are currently a family of 3 with one on the way.  I would think they have enough room for their parents and growing family.  I'm just concerned that if I cite sorry no can do bc of paragraph 3, they'll take me to court.  Do they have a leg to stand on or am I safe due to the language in the contract paragraph: "Tenant shall not be released from liability for rent and other charged due during lease term unless landlord agree in writing to release tenant from such liability."

Thanks as always!  Not sure if this is a RE lawyer question.  Also looking to connect with real estate lawyers as I start to grow my portfolio.  

Hello! I'm not sure if I'm using the right term, but is it possible to "re-mortgage" a vacation house on conventional terms. Scenario: I purchase a vacation house and close paying cash in full. Turn around and mortgage the house taking out $200K (in cash) to use for other real estate investments. Would I be able to do a conventional, or would this be considered a HELOC? What are other loan options for this scenario so that I have cash on hand for RE investments. Getting confused with reading too much online. Vacation house in Pennsylvania. Thanks for your advice!