Thoughts

[jav]

As you some of you know we have inherited a rental property half of it the other half to no money nephew .logical thing to go is sell sell but the wife and I are good people and found out the renter pays cash 2000 a month has a disable son living with her I can’t see putting her and son out on the streets . We don’t have that in us to do . I don’t know

 

[Jim Walsh]

If you have never been a landlord think about becoming one long and hard before taking the jump. It can become a nightmare in a heartbeat. Speak to a lawyer and an accountant before deciding.

 

[jav]

We do have one other rental property his been there over 18 years pays on time every month lucky I guess but it won’t last to much longer he is getting up there but we always kept it nice yard and inside. But this piece of is anther story

 

[blume357]

How about either getting rid of that property and the no good nephew and finding the current tenant and her son a better place to live or figuring out a way to get the nephew out of the deal and then helping the tenant out?

 

[jav]

How about either getting rid of that property and the no good nephew and finding the current tenant and her son a better place to live or figuring out a way to get the nephew out of the deal and then helping the tenant out?

Yes we offer the tenant to purchase the house at a good deal we we see

 

[mirglip]

A good tenant paying $2000 a month cash is not likely to be evicted by a buyer that wants a rent house. Maybe you can find a landlord to sell it to. I have had 3 rent houses decades ago in Texas. I would not under any circumstances own a rent house in California today, especially not half interest in one.

 

[jav]

A good tenant paying $2000 a month cash is not likely to be evicted by a buyer that wants a rent house. Maybe you can find a landlord to sell it to. I have had 3 rent houses decades ago in Texas. I would not under any circumstances own a rent house in California today, especially not half interest in one.

Yes I totally agree that why we want to sell it in

 

[Fox Mike]

Just a thought but how about buying out the worthless nephew and then see what arrangement can be made between you and the present tenant.

 

[jav]

Just a thought but how about buying out the worthless nephew and then see what arrangement can be made between you and the present tenant.

We thought about that but we just pay off our other rental property and I don’t want to put a lot of money into it especially I can’t raise the rent she doesn’t have the funds to pay anymore . She pretty backwoods pays cash for 30 something years

 

[MaxMan]

2000 a month how does that compare to the market for similar properties? Putting them out is one thing, helping them move to a similar property is another.

 

[jav]

I guess 2000 a month not bad for that place but if I kept I want updates things it need at least 50000 dollars of work . I don’t mind doing it but I would not get a penny it would a total loss she doesn’t have the funds to pay anymore