All Forum Posts by: Jared Pinkus

@Jennifer Donley Thanks for the tips, those are incredibly helpful. 

@Maureen Santibañez Equity = Property Value - Property Debt 

@Theresa Harris - Great point about the security deposit, I will reach out to the City to see if they provided it. 

@Kenneth Garrett - Here's one of the biggest issues -  nobody had a copy of the lease, not the tenant, seller or even the City who oversees the Section 8 program. It's been a mess and I am looking forward to new tenants, I just want to make sure the transition is smooth. Thanks for the help!

Happy New Year everyone –

I made my first deal a few months back, two townhomes in a four-unit complex. One of the units was vacant, the other occupied with a Section 8 tenant.

Last month, the inherited tenant mentioned they will not be renewing their lease which expires at the end of March. I have a love-hate relationship with this tenant. I’ve only been once in the past 5-months and they've never been late with their portion of rent however, they are also pretty disrespectful and self-entitled. The tenant has lived in the unit for five-years and has done some improvements (painting, flooring).

What steps should I take to make sure the transition goes smoothly, are good tenants usually pretty responsive to the process seeing as they will need a reference for their next landlord?

My biggest concerns are:

• They will leave the unit trashed/damaged,
• Say the appliances are theirs, a possibility since other upgrades were made
• Be difficult in the inspection/touring

Any insight is appreciated!

@Frank Chin - Thanks Frank, I'll check that discussion out. 

@Bill Gross - It's in a small community just outside of Dane County in Wisconsin, I'd be interested in learning more. 

@Bruce Lynn - Thanks for the insight. I think my best option is #3. Again, this person passed away four years ago and taxes have been delinquent for basically that long as well. I did find an obituary with some contacts so will try to track them down. How would I go about finding if there is a mortgage on the property? I'd assume not since it hasn't gone into foreclosure yet....

Thanks for all the insight! 

I found a property in probate that I am interested in purchasing but I've been given the runaround.

The property owner passed away four years ago and has been vacant ever since. I have contacted the County Register of Probate, County Treasurer and City Administrator. Nobody seems to know whom to contact to make an offer. Needless to say, there are four years of back taxes and the property will go into foreclosure but that won't happen for another year. Does anyone have experience purchasing a property in probate? I'd love to know how to acquire this property.

I found a property in probate that I am interested in purchasing but I've been given the runaround. 

The property owner passed away four years ago and has been vacant ever since. I have contacted the County Register of Probate, County Treasurer and City Administrator. Nobody seems to know whom to contact to make an offer. Needless to say, there are four years of back taxes and the property will go into foreclosure but that won't happen for another year. Does anyone have experience purchasing a property in probate? I'd love to know how to acquire this property.

@Matt Ziegler Thanks for the book recommendation, I'll check it out. I appreciate your help! 

@Dmitriy Fomichenko - Thanks for the warm welcome! 

@Account Closed - Just got started with it a few days back which is where my question came from, thanks for the insight, I appreciate it! 

@Drew Sygit - Makes sense - I imagine everyone makes mistakes along the way, I just want to be sure I don't repeat them.