Selling MTM
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Selling MTM (by Anthony [TX]) Mar 14, 2025 4:23 PM
       Selling MTM (by Ken [NY]) Mar 14, 2025 4:42 PM
       Selling MTM (by Robin [WI]) Mar 14, 2025 4:51 PM
       Selling MTM (by plenty [MO]) Mar 14, 2025 7:58 PM
       Selling MTM (by 6x6 [TN]) Mar 14, 2025 8:12 PM
       Selling MTM (by Jason [VA]) Mar 14, 2025 9:10 PM
       Selling MTM (by Jim [CA]) Mar 15, 2025 12:03 AM
       Selling MTM (by Jim [CA]) Mar 15, 2025 12:03 AM
       Selling MTM (by DJ [VA]) Mar 15, 2025 8:58 AM
       Selling MTM (by PG [SC]) Mar 15, 2025 9:33 AM
       Selling MTM (by Scott [IN]) Mar 15, 2025 10:22 AM
       Selling MTM (by MikeA [TX]) Mar 15, 2025 11:05 AM
       Selling MTM (by Phil [OR]) Mar 15, 2025 5:17 PM
       Selling MTM (by Kim [TX]) Mar 17, 2025 3:01 PM
       Selling MTM (by mike [CA]) Mar 21, 2025 12:07 PM
       Selling MTM (by Mary [TX]) Apr 4, 2025 11:22 AM

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Selling MTM (by Anthony [TX]) Posted on: Mar 14, 2025 4:23 PM
Message:

In Texas, Tenant for 6 years who was the property owner. 3 months behind on MTM rent. Tenant treats property as if he still owns...meaning very badly. Recently replaced fence and remove 100 ft storm damaged tree. Property tax value is over $400,000, purchased for $80,000.

I have not been diligent in sending past due notices. I have decided to sell rather than evict because home is over 50 yrs and the deplorable condition. Short of hiring an attorney, I am not sure what to do first.

--71.31.x.xxx




Selling MTM (by Ken [NY]) Posted on: Mar 14, 2025 4:42 PM
Message:

That sounds exactly like what i would buy if i were local.You might as well call someone with an ad that says they buy houses,any condition.you dont want to deal with a wholesaler.Dont expect to get a whole lot for it,with the problems that go with it you wont get near what it is worth but it will be gone. what city is it located in? --67.207.xx.xxx




Selling MTM (by Robin [WI]) Posted on: Mar 14, 2025 4:51 PM
Message:

Why not evict and then sell? Sure, it will cost you some time and money, but that would be more than made up for by the higher sale price. --104.230.xxx.xxx




Selling MTM (by plenty [MO]) Posted on: Mar 14, 2025 7:58 PM
Message:

Perhaps waiting it all out is best? --172.59.xxx.xx




Selling MTM (by 6x6 [TN]) Posted on: Mar 14, 2025 8:12 PM
Message:

I assume you bought this property as a foreclosure with the owner still living in it and agreed to let him stay and rent it? --73.19.xxx.xx




Selling MTM (by Jason [VA]) Posted on: Mar 14, 2025 9:10 PM
Message:

Time to put on your big boy pants. Hire an attorney. Evict the deadbeat, renovate the house, and sell for a profit. Grow a pair. --73.147.xxx.xx




Selling MTM (by Jim [CA]) Posted on: Mar 15, 2025 12:03 AM
Message:

Unless you’re looking for another dependent, start the eviction process. My rent is due on the first, late after 1201 on the third, and on the fourth I text my lawyer to file the unlawful detainer.

I once started an eviction a week before Christmas. It’s strictly business. --99.23.xxx.x




Selling MTM (by Jim [CA]) Posted on: Mar 15, 2025 12:03 AM
Message:

Unless you’re looking for another dependent, start the eviction process. My rent is due on the first, late after 1201 on the third, and on the fourth I text my lawyer to file the unlawful detainer.

I once started an eviction a week before Christmas. It’s strictly business. --99.23.xxx.x




Selling MTM (by DJ [VA]) Posted on: Mar 15, 2025 8:58 AM
Message:

I'm thinking like Ken - too bad it's not nearby : ).

And like 6x6 - this is a perfect example for why to not do that. --72.218.xx.xxx




Selling MTM (by PG [SC]) Posted on: Mar 15, 2025 9:33 AM
Message:

Back in 2019 - I hired an attorney to evict - made some renovations - and sold for a nice profit.

Let the attorney deal with the tenant - If you don't want to do a renovation just start out with a good clean up and a little paint and go from there.

You have already started by coming to this website for advice - Keep going.

--75.182.xxx.xxx




Selling MTM (by Scott [IN]) Posted on: Mar 15, 2025 10:22 AM
Message:

There's nothing like an envelope full of court papers to get a tenant's attention. They start answering their phone again.

Just a guess, but I think you waited too long. Whenever my lower income tenants got more than 30 days behind, they were never able to get caught up and had to be evicted.

It's just frustration that is compelling you to sell the unit as-is. Evict the tenant, renovate, then sell or re-rent. --162.204.xxx.xxx




Selling MTM (by MikeA [TX]) Posted on: Mar 15, 2025 11:05 AM
Message:

If you sell it as is with the deadbeat in place you will get maybe 25 cents on the dollar out of it to another investor who will pick you apart trying to get bottom dollar.

Or, Hire an attorney for $1000 to boot him, then a cleanout guy for $1-2,000, then a handyman to clean it up, paint, new flooring where needed for $5-10,000 and you will get near full price out of it for just a few phone calls, a small dollar investment, and 90 days to make it happen.

So, do you want to sell it for $80,000 or $400,000? I know what I'd do.

--209.205.xxx.xx




Selling MTM (by Phil [OR]) Posted on: Mar 15, 2025 5:17 PM
Message:

Unless you have some experience at doing an eviction-HIRE AN ATTORNEY and evict the non-paying tenant.

Do it Monday. The longer you wait, the harder it is and the more money you lose.

If you want to stay being a landlord, pay attention to the eviction process...you may need it again.

Being a landlord is a get rich slowly program--but it works.

Have made more being a landlord than I did in my professional career...it is a great retirement

--76.138.xxx.xxx




Selling MTM (by Kim [TX]) Posted on: Mar 17, 2025 3:01 PM
Message:

If your tenant is on MTM, the buyer will probably insist that you evict before closing anyway. You won't be able to show a rent roll. The good news is, eviction is pretty straightforward in Texas --50.230.xxx.xxx




Selling MTM (by mike [CA]) Posted on: Mar 21, 2025 12:07 PM
Message:

just evict. he has already made it clear what he thinks of you. i am informed texas is a better state than calif. or some other bolshevik states.

i actually enjoy the evictions once it gets to the point they are needed. the key is to get the deadbeat served and manage the calendar. i once served five people at once. i told them i was coming over to make a deal on back rent and they all needed to be there. i positioned myself so their backs were to the front door and as soon as i got them all seated for the palaver my process server walked behind them and laid the whammy...FUN! --76.176.xxx.xxx




Selling MTM (by Mary [TX]) Posted on: Apr 4, 2025 11:22 AM
Message:

This group is all good people. I set a 'quit' letter last week. I get a text from tenant asking, 'besides paying back rent and late fees, what could he do to "continue to reside on the property". I am headed to County Clerk office this morning.

Thanks to all for the support. --71.31.x.xxx



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