All Forum Posts by: Leland J Bennett

Help! I am under contract and going to close on a personal residence and a 4 unit lead from a direct mail came up and the dude is ready to sell! He doesn’t have 100% equity to seller finance. And I am tied up with this personal residence and can’t stretch as far as to get a traditional 25% down conventional investment mortgage. The asking price is Fair but not enough meat on it to whole sale I expect. $215,000 is the price. Rents are under market. A similar property just sold a couple months ago down the road for 242,500 is there any way I can get this deal? Subject to? Subject to plus a note? Any ideas ?

@Alan Y. Hi Alan In this situation I would let him out of the lease . The headache of finding new tenants is ultimately part of the job. Grace can go along way in this situation. I ultimately wouldn’t have peace of mind knowing that my tenant did not want to be there. And how will they respect your property after sticking the letter of the law to them? Unhappy tenants are unhappy tenants. Consider Moving on to the next properly screened tenant.