All Forum Posts by: Luis Fernandez

Sorry to hear about this experience. Things like this happen all too often. It seems you've already tried being rational with this person to no avail. Lawyer up and don't give in to anything. After being in business for over 10 years and having rental properties, I'm always dealing with these kinds of situations (contractors, employees, customers, government, etc). These people are what I call "adult bullies." The more you give to them, the more they feel empowered and will continue the con. The strategy that has normally worked for me is to put up a fight even if it means suing them first (before they sue you). Whenever you have something worthwhile, there will always be a subgroup of the population trying to take it from you. The more you have, the bigger that subgroup grows. Human nature.

@Scott Skinger Since I'd be the one getting a lawyer to write out the contract, do I pay the full amount for the legal service?

I own a 12-unit building. I have an interested buyer wanting to purchase the property for $100,000 with a $10,000 down payment and payments of $593 per month for 6 months. He wants to pay the entire remaining balance after 6 months when he is able to populate six of the units and get a commercial loan. What are the first steps in making this process happen? How does the deed in this type of transaction get transferred? Does a mortgage company need to get involved? What are the things to watch our for is this type of deal? 

@Fred Heller the contract I have for the 12 unit is the same as I have had for the past properties I've purchase which were 2 duplexes and 1 quadplex. Should I have something that looks different for a commercial contract?

@Tom Gimer when you say "purchase agreement" are you referring to the inspection rider?

I'm in escrow for a 12 unit building. Its been in escrow for a couple of months now. When I get a confirmed date to close, how do I go about getting all the correct and up-to-date information of the units that are vacant or occupied and those of whom are up-to-date and are delinquent in paying rent? I recently realized that my real estate agent omitted the Rider Inspection. To make a long story short: in the middle of escrow, she changed brokerage firm and had me sign a mutual release agreement and a new contract where she omitted the Rider Inspection. I no longer feel she is looking after her client's (me) best interest. So there's a trust issue here and I need a way to validate the current tenant status to match what will be written on the HUD statement.

Hi All,

Any one have a template for a Termination of Lease Agreement I can use? 

@Carl Fischer I'm in escrow for a 12 unit building. Its been in escrow for a couple of months now. When I get a confirmed date to close, how do I go about getting all the correct and up-to-date information of the units that are vacant or occupied and those of whom are up-to-date and are delinquent in paying rent? It will be with the same real estate agent, however, I no longer feel she is looking after her client's (me) best interest. So there's a trust issue.

Interesting, I have actually seen this written on rental agreements.