Need Help Finding Home Owners A New Home
I have negotiated a good SS with the bank. The problem is that the current owners have the world's worse credit. Two bankruptcies, two foreclosures and they have a judgement from an apartment complex. I need to get them out of the house, they are packed and ready to go, I can give them a couple of thousand, but where do they go???
Any advice on where these people could get a place to live.
Brenda
Not to be harse, but was finding them a new home a contingency of the deal?
if so, I guess you must or take part of the SS profit, and buy them off.
If not, eviction.
Pay the rent... but I can't pay the rent..
If you've racked your brain trying to help and come up with nothing, maybe that's all you can do. Social Services might have some ideas. Their credit suggests otherwise, but maybe they are handy, potentially hard-working folks that you could employ for (other!) projects, help them that way?
Or, if you like them and really want to help, let them stay rent free for as long as they like, and leave them alone until they get a better offer. Maybe pay their utility bills too. This can be the hard part of this business, where the rubber meets the road. And at some point, these people have to take responsibility for their own lot and take steps to move beyond this. To paraphrase David Byrne, compassion is a virtue, but...
Patience is also a virtue, but I am not that virtuous. This is a business and I am a landlord. I would never have these people in one of my houses. And paying their bills is out of the question. I am willing to help them by looking (spent all yesterday making calls) and by giving them some cash, but I am not paying their way.
Brenda
Brenda,
Rather than give them a couple of thousand why not find them a rooming house, apartment, YMCA or.... that would be willing to rent to them for a limited time if you paid the rent in advance. So lets say you could find a place for $350/mo, you pay 6 months in advance and after that it's up to them. Adjust the numbers for what will work in your area. Just a thought.
The money is to find them a new place. I called about 20 apartment complexes (the city is about 100 miles from my home) and found one that would take them with a double security deposit. I am making the money order out directly to the apartment complex.
It was not part of the deal that I give them money. But I do not mind giving money if there is a need. I have just not had such a difficult time getting them a new home.
Brenda