Notice to vacate property. Please help

[Jazzzy]

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@Anonymous wrote:

Thanks for all the responds!

Yes, I am working with an agent. She Screwed up by not including this in the initial offer. kinda my fault too.

Yes, I am currently renting.

Anyway. My intention from the start was to reside in one unit and rent out the other unit. I don't anticipate any problem asking the tenants to vacate the property 30days from closing(11/16), It will be very difficult taking time off from work after 12/12(holidays)... Health care worker. hopefully they will accept my offer.

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Be sure to check the legalities of the 30-day notice in your state. In my state, the 30-day notice can be given any time, but the 30 days doesn't start running until the rent is due (usually the 1st of the month). That would put you legally until the end of December.

You may need some legal advice so that you are certain you are not stepping on anyone's legal rights. You don't want this to turn into a bigger mess.

[Anonymous]

The seller have agreed to give the tenants 30days notice, and the tenants also agreed to move out by 11/09.  Everything will be put in writing and signed today. Thanks for all the advice!

[Jazzzy]

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@Anonymous wrote:
The seller have agreed to give the tenants 30days notice, and the tenants also agreed to move out by 11/09.  Everything will be put in writing and signed today. Thanks for all the advice!

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Congratulations!

We have been landlords for many years. It has both its good and bad moments, but it sent all our kids through college. When our oldest was younger, he mowed all the lawns, helped with cleaning, painting, etc. We kept telling him, "Do it. It will pay for college eventually." He went to MIT. Now, in his 30's, he says, "You were right. It did send me to college."

Rental property can be a family project. I ultimately sold all mine...and then a house across the street from us sat for sale for quite a while. One morning, while letting the cat out, I looked across the street and said, "We should buy that."

We did...and now we're looking at others. I just can't get it out of my blood. I love the idea that you can buy a property and have someone else basically make the payments for you.

Message Edited by LynetteM on 10-28-2009 06:00 AM

[Anonymous]

Thanks! I am very excited!

 I am not a real estate personnel, but try to read different articles on this subject. This is a great opportunity for anyone who can afford to purchase a home.

I am glad your children took your advice and went to college. I listened to my Mother's advice and went to college, Graduated with a Bachelors of Science in nursing. I worked a full-time job at night and attended classes full time during the day....I went through a lot of struggle, but never give up. 

Things are going pretty well for me these days. My next big Idea is to go after a few fixer-upper, buy fixed and rent out until the housing market stabilize or get better than I will sell.

[Jazzzy]

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@Anonymous wrote:

Thanks! I am very excited!

 I am not a real estate personnel, but try to read different articles on this subject. This is a great opportunity for anyone who can afford to purchase a home.

I am glad your children took your advice and went to college. I listened to my Mother's advice and went to college, Graduated with a Bachelors of Science in nursing. I worked a full-time job at night and attended classes full time during the day....I went through a lot of struggle, but never give up. 

Things are going pretty well for me these days. My next big Idea is to go after a few fixer-upper, buy fixed and rent out until the housing market stabilize or get better than I will sell.

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If you have that kind of attitude, you can make it in the rental business. Sounds as if you're a hard worker. I always told people that you can't buy the groceries with rent income...you have to save any extra you might make for when the roof leaks or the water heater dies. You don't make your money in rental property on the monthly rent, you make it when your equity grows and you sell the property. As long as people can operate that way, it will work out.

If you can do the fix-up work yourself, you are a step ahead. We always hired it all done, and that makes being a landlord a bit more challenging. Today we are looking at properties that are already in good shape. There is a foreclosure in rough shape less than a block from us, and I am tempted...but we don't really have the knowledge or time for rehab.

I was a real estate broker in real life...and now I am a nurse. After I retired from real estate I wanted a profession where I felt I could do some good. I've been working as a nurse, and now I'm in the last stages of finishing my family nurse practitioner degree. Isn't it funny how life turns corners? I just can't leave the real estate totally behind...thus the new rental property. You're right that this is a good time to buy, and we'll look until we pick up a couple more.

Keep up the hard work!

(BTW, my son who mowed the lawns and cleaned all those rentals when he was young??? He's now the assistant treasurer for a national home builder. He took the job after the downturn had started. We thought he was crazy, but he loves it. I guess he inherited the real estate bug, too, and already owns a few rentals of his own.)