Re: Buying/ inheriting a rental property - Landlord Forum thread 354198

Re: Buying/ inheriting a rental property by Garry (Iowa) on September 10, 2017 @23:46

Taking the W/Ds out of the apartments is totally out of the question. All of your Ts will expect a rent decrease, ESPECIALLY if they would then have to go to your newly built laundromat and have to pay ADDITIONAL money to W/D their clothes. Plus, you run the risk of some of your Ts moving out, which create additional cash flow problems. This same scenario could happen if all your Ts had to all of a sudden pay their own utilities. As the other poster asked, what does "partially inherited" mean ? If there are other owners, my suggestion would be that whatever your husbands "share" is, discount it by 50%, and sell his "share to the other co-owners, and get out of the ownership of the building. After all, the inheritance cost you nothing on the date you received it, but it could cost you plenty if you keep it.

[ Reply ] [ Return to forum ]