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I'd pay myself a salary as the building manager that makes sure there isn't a penny left at the end of the month for the siblings after the bills are paid. If they don't like that, they can figure out what to do. But yeah inheriting like 10 million dollars is truly heartbreaking. |
Who owns it? If the mom is still alive then the sisters gets nothing. Yes, just take a cut to be a building manager. Or Evict and Jack up rent. |
Sell ... based on the rent per unit, building is OLD and/or you have LONG time tenants there that your rent increase can only match whatever is allowed. If old building, headache to upkeep, things continue to go south in terms of repairs. 12 unit rental building in East Van has to be $3.5-5M range? Take that and run. |
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if after property taxes and maintenance there isnt a ton of money leftover, i'd sell. personally if i were to do that though i would wait at least 3 years for interest rates to drop a little and have more interest from buyers. its not a great time to sell right now especially for commercial since it was like 20% higher just a few years ago. |
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The mom owns an original van special and has all her needs taken care of, she's close to 85 at this point. She doesn't need the money. |
I wonder if you can just hire a property manager to just run it for you, infinite money and no capital gains? ??? Profit |
My question is why are you involved Mr Peanutty ? Fuck these guys. Let them deal with their own problems. Unless you got some monetary gain coming your way, let these rich people go hire some attorneys and hash it out. The old lady is too old to give a shit The kids all sound like they don’t give a shit You shouldn’t give a shit either |
What would PeanutButter do? Please enlighten us! :ahwow: |
Whoever gets their hands on that 12plex, is going to kick everyone out, renovate, then double / triple the rent, and profit 50-100% on purchase price. Jeeeeaallooouuusssssss |
He’d stick to the roof of your mouth and be like ohhhhhh this multiplex situation soooo sticky |
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She didn't ask for my opinion, she was just giving me a summary of her life at the moment (which a lot of my clients do). I was just curious what some of you would do in this scenario. Also, life isn't all about money, I definitely don't have as much as some of you guys here, but I have enough. After a certain point, money doesn't buy happiness. I told one of my buddies and he said he would try to pay off the tenants to move, renovate, get the rents up, and then it would be more attractive to keep or even sell. |
Imagine your client is on Revscene and is reading this. |
^ it's a she/her ... isn't RS 99.9% male. |
Maybe her siblings are on the forum. :D |
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Stick a tampon in it |
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God dam this 1990 forum that wownt embed links :yuno: |
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If some kids "want nothing to do with it" and one does. Mother can hand over 100% to the one that does. If they weren't being literal with their statement and they still want some inheritance, then hire a management company to take over the day to day tasks. Older sister relieves herself of stress and other kids still get to take cheques to the bank without putting in work. |
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She goes to church, bakes, and is a decent human being. Which pretty much excludes her from membership on this forum... Ya bunch of degenerates... Lol jk. |
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The kids have the wife's smarts, so they might be going to choice program of some sort, but with our luck, it'll probably be once across the city that we'd have to drive them to every morning. |
Throw them in to Britannia and that'll smarten them up even more! :troll: Edit: Parents - Only enroll your kid at Britannia if you want to punish them. :D |
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I managed my own place and yeah i had to deal with no shows, backflow of poop on thx giving from a tenant of mine, kicking out weed growing tenants, squatter who got laid off. Again, this was a spand of 2 properties and 20 years. At the end, it paid off all my mortgage. Keep in mind... people only sees.. OH you got it easy. I'm ok dealing with CL and FB marketplace rentals... i cna't see how someon like my dad's age dealing with this. just sell it all so there is no tension. No one needs the money and no one wants to put in hard work. |
No such thing as easy money. I hate it when people say, 'it must be nice'. They completely negate any hard work or time that was done to get to that point. |
The trust fund babies I went to Coachella with every year in the past disagree with you lol |
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