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Re: Rental Foreclosures

Posted by SeanW on February 07, 2004 at 11:15 AM

In Reply to: Re: Rental Foreclosures posted by Lughead on February 06, 2004 at 8:04 PM

Well I met my tenants, and so far things look good. They knew the house was sold, and are already preparing to move. They didn't involve me at all in the security deposit issue... They just shrugged it off as beyond their control.

Interestingly, this previous owner was an investor himself, that has other properties around there. While at the house, neighbors started dropping by, asking if "their house would be next!?"

(Apparently, the source of his problems was that he'd built a nice rental empire of 100+ properties over 30 years. He left it to his children to manage for him in retirement... and they are doing a lousy job. I guess there's a future lesson there, for the rest of us!)


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