All Forum Posts by: Ricardo Polanco
Ricardo Polanco has started 10 posts and replied 18 times.
Post: Termination of a tenant Lease

- Posts 18
- Votes 7
Thank you very much everybody for taking the time to provide your orientation. I really appreciate it.
Post: Termination of a tenant Lease

- Posts 18
- Votes 7
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.

Post: Buyer occupying property prior to purchase

- Posts 18
- Votes 7
Thank you very much Lynn, it makes a lot of sense. I will definitely consider it.
Post: Buyer occupying property prior to purchase

- Posts 18
- Votes 7
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.
Post: Buyer occupying property prior to purchase

- Posts 18
- Votes 7
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.
Post: Sale my property or rented out and do a DSCR

- Posts 18
- Votes 7
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.
Post: Sale my property or rented out and do a DSCR

- Posts 18
- Votes 7
Hi Jason, thank you very much for the valuable information, I will definitely consider it to take a decision on my project.
Post: Sale my property or rented out and do a DSCR

- Posts 18
- Votes 7
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.