[quote=treehugger]Wonderful info Coronita, thank you! I was trying to make sense of the relocation expense….if I evict because I want to remodel let’s say (which we have been intending to do if these tenants ever left to get top dollar for rent) I have to pay them or let them live rent free for a month?? That is incredible!!
Now the tenant is texting my husband he wants to buy and will pay market value, condo next door just came up yesterday for $525, I don’t want to sell or do I??
These are such crazy days for San Diego Real estate….[/quote]
Well, if you do want to sell, don’t do it under the table deal. Put it on the MLS. You’ll get 30+ offers in a bidding war and get top dollar. Don’t worry if a buyer can’t perform because if he/she can’t there’s probably 29+ other backup offers that can, and probably will offer more money. Why would you want to leave money on the table and not get top dollar?
In 92130 most homes are going way above ask, i think the two homes close to me went $200k+ above ask…And if my memory serves me correctly there was this other house I think in oceanside that had some god awful number of offers on it like 54+ and the word on the street was one agent called up the listing agent and said something to the effect of “what number could we give you that if we gave it to you you would cancel this listing and sell it to my buyer” and i think jokingly the buyer threw out a ridiculous number like $200-50k above ask….And next day at early in the morning, that agent representing that buyer gave an offer $200-50k above ask, and I think there was free rent back and a bunch of other concessions…
Your renter guy that wants to buy it from you directly is doing so because he knows he won’t have a chance if you put it on the mls that’s why he’s trying to sell you on how much easier the transaction will be if you just sell it to him. Don’t take the bait…It’s not a pain in the ass. Total sellers market on steroids.
Get a good agent if you want to sell. ping sdr, he’s done so many deals for so many people here ….
I’m not going to say whether you should or shouldnt’ sell. I plan on keeping all mine…But if you are contemplating selling, nows probably a great time to…
If you want to do remodeling and want to evict him/her, I would make sure you do things to a t… I would really recommend you getting a good property manager who has experience and the bite to deal with this situation. My property manager is great guy. I swear, he’s on a mission or something to make sure good landlords don’t get screwed by professional renters. I mainly self manage the easy ones, but if there’s any sense of pain in the ass tenant, I immediately call this guy and retain him and have him deal with the situation.
A lot of times I notice that for pain in the ass tenants, if they sense you are an individual/non professional, they will totally try to rake you over the coals thinking you are easy…But if you get a real property manager, especially the one that I would almost say enjoys dealing with shitty tenants… suddenly they shut up. Don’t be a nice guy/gal…Your tenant sounds like a real pain in the ass. My property manager is a really nice guy if you don’t piss him off. If you piss him off, it’s not a pretty sight. Like I said, I never missed a rent payment because of him, even during covid. My tenant wasn’t awful, but they were less than honest moving in and they did something on day one that started the tenant-landlord relationship off on the wrong foot. So rather than dealing with them myself, I decided to hit them with a big bat by sticking my property manager to handle the situation. Never had a problem with them again. If you’re interested, send me a PM, and I’ll put in contact with him. Doesn’t hurt to talk to him. And he can tell you lots of stories of the tenants he has to deal with…Like the ones he needed to enter the property with an armed guard…My current tenant I’m predicting will be mostly problem free. Still I keep my property manager as retainer because well, i figure he got me out of a potentially bad situation last time, I don’t mind paying him even if there’s really not much difficult situation going on…Because well, he’s good to have around just in case, and because he’s a cool guy to talk to about things. Plus, I need a sidekick the next time I get into a pissing match with an HOA and need someone to go in with me so we get thrown out again…
Lastly, don’t post what you are planning on really doingon the internet…Bad idea…Just don’t. You obviously aren’t sure if you are going to sell and remodel or keep renting or what not… So you haven’t decided what you wanted to do and just collecting ideas on how you possibly want to exit your real estate position…But nothing is definite, you’re still thinking, and plans can and do change… as you are seriously thinking about each possible option equally… Just leave it at that on a public blog…nothing more….Leave it at that..
