All Forum Posts by: Victor Sarkisyan

@Joshua Duvall

You rock Josh. Thanks for continually thinking about our team and growing our group.

This meetup is just starting out! The idea here is to create a community of first time investors, but more importantly, to be persistent in our journey to help each other become financially free. This will become a meetup group that happens every other Wednesday evenings from 7pm to closing.

In this event, we'll discuss how to make the first offer and all the steps necessary to get up to that point. From realistic expectations of financing to finding a good realtor to help out with paperwork and other finer details.

Purpose

I'm hoping to slowly develop a community of first time investors coming together to help one another get into real estate. We will stay connected with blog posts I host on my site, upcoming interviews, a community wide slack channel, and more.

If you need a bit of inspiration, you can check out our blog at startuprei.com where my wife and I go through our weekly struggles of learning REI to try and become financially independent.

@Hubert Kim

I'm on mobile so excuse the short response but just wanted to say thank you for your post.

Thanks Keely! We're going to exercise the options and see what they can do. Appreciate the help!

@Keely C. thank you Keely! So our friends are the managers and the master tenant to the roommates, who are the subtenants. 

Thank you for clarifying about the RSO caveat. We're going to contact the HDICLA tomorrow and see what they say. 

Should we even serve the 3 day notice? It seems that can be easily rectified and they can end up staying there longer than originally hoped...

Hi Everyone,

My friend is the manager for a 5 unit complex, and they are currently subleasing to a roommate and his gf who have been living there for 3 years now. Yes, the owner knows and allows subleases, and this is the only building they own so we kind of took the responsibility of working with the owner to figure this situation out.

The roommates signed a two year lease at the start of their move in but never resigned after the two years was up. The lease states that it goes to month to month at the end of the lease. So for the last year they have been living as subtenants on a month to month basis.

Over the last year, things have gone to ****. They dont do a good job cleaning up after themselves, they throw parties where people are invites that do hard drugs and are very noisy, and they have started to be neglectful of their other responsibilities like cleaning altogether.

Every time we leave town with our friends for a weekend trip or something, our friends are always stressed out at what is going on at home.

Three weeks ago they agreed with the roommates that they were given a verbal 60 day notice to leave. Nothing was signed but they agreed to leave. A few days ago, the roommates came back and said "the notice was invalid and they were going to stay, and if the original 60 day was pursued, they would take legal action."

So the question is, what can my friends do to try and remove these tenants?

Additional Info: It is an RSO property. They are subleasing from my friends (manager). No terms on the sublease. It was a friend that turned into a liability.

@Csilla Veress just wanted to throw out there that @Sammy Lyon has been a wonderful help. I met him at a local event here in LA and he's been great to chat to. Good luck!

@Joel Gierbolini

Lots of credit unions do it. My bank, first bank, does min 50k which was cool because my last one was for 75k.

You just gotta look around, there are many that do it.

Here is our meetup group!

https://www.meetup.com/Valley-Startup-Real-Estate-...

Join me, my wife, our buddies Chris and his wife Nikki and others to discuss how to build up this group!

This event had 2002 as the date. Thank you to @Sammy Lyon for pointing that out. To whomever I sent this invite to, the new event with the proper date is below!

https://www.biggerpockets.com/forums/521/topics/71...