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All Forum Posts by: Ricardo Polanco

Ricardo Polanco has started 10 posts and replied 18 times.

Thank you very much everybody for taking the time to provide your orientation. I really appreciate it.

Hi everyone, I bought a property 5 month ago in Pennsylvania, the property came with a tenant paying under market value rent (actual rent: $550, market rent $1200). Besides the low rent she pays she is very demanding, pays late and is not taking good care of the property. The previous owner made a really poor elaborated lease that looks like it is going to end in April 2025. I would like to know if there is a way I can terminate the lease based on the unclear termination date or no termination restrictions indicated? I know she won't cooperate, but I would love to get the property back, renovated and put it back to rent. I am attaching here a picture of the lease, of course keeping in private some information. Thank you.

Thank you very much Lynn, it makes a lot of sense. I will definitely consider it. 

Hi Joe, thank you, I just made a clarification on the post. I am the seller of the property, and I am trying to accommodate the buyer and his family until the closing date.

Hi everyone, I am a new user of biggerpockets, I am selling a renovated property. I have it under contract and the closing is supposed to be by the beginning of November because of some delays with the title company. The buyer requested a transfer from his job to the city where the house is but now the job wants him to start work next week, I told him we can probably let him and his family occupy the property prior to the closing date.  Is there any type of document I can make the buyer sign for these 2 weeks he will be occupying the property in order to cover myself? I won't be charging him any rent, he will just pay for the utilities used for that period. 

Really Appreciate any suggestions.

Thank you.

Thank you very much for the information, this was a great renovation with very good finishes. That was actually my concern, getting the type of tenant that don't destroy the property. Thanks.

Hi Jason, thank you very much for the valuable information, I will definitely consider it to take a decision on my project.

Hi everyone, I am a big fan of Real estate Rookie Bigger pockets. I just fully renovated a House in Pennsylvania here some details. Cash Purchase Price: $43k, Renovation & other fees: $66k, Estimated closing: $13k. The projected sale price will be $180k, with a potential profit of $58k. I really don't know if I should sale it or rented out and do a DSCR, Rent will be around $1450. At the moment is not that I need this money to continue investing. What could you recommend? Thank you so much in advance.

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