Wednesday, January 1, 2014

How To Get Squatters To Move Out!!

Squatting is a common occurrence in the city of Detroit in particular and if you are an investor, you need to be aware of this problem. For those of you who are not familiar with the term 'squatters', a squatter is an unauthorized tenant that has taken adverse possession of a vacant or abandoned property.

It is not uncommon for an out-of-state investor to buy a block of investment properties from the City auction, only to discover that up to 30% - 50% of them are occupied by unauthorized tenants aka squatters. And trust me, they are more difficult to remove from your property than roaches. In most instances, the squatters refuse to move out willingly and will often attempt to scare, threaten or otherwise disway the new investor from pursuing the property any further. Many squatters will have 'paperwork', such as fake leases or deeds, that show that they are in the property 'legally'. They may have a good story to tell. And trust me, almost all of them know that there is nothing the police can do. So, many investors end up tucking their tail and let the squatter win out. They write the property off as a loss and end trying to sell it or 'dump it off' on another unaware investor. This is why I tell all of my clients to do their due diligence on any and every property they plan on buying in the city of Detroit and to visit the property personally before investing a dime.

So, you've bought an investment property and it has a squatter in it. You went to tell them that you are the new owner and want them to move out and they threatened you or otherwise scared the crap out of you. What do you do now?

 These solutions have worked for several investors:
  • Cash for Keys – Offer the squatters cash to move out peacefully by a certain, definite date
  • Convert into renter – Offer to rent property month to month for a low price in exchange for the squatter 'allowing you' to have access to make necessary repairs to the property
  • Hire a property manager – Seek out a qualified professional to assist you in properly and legally evicting the squatter
Contact Detroit Real Estate Expert and Author Anthony Legins - www.anthonylegins.com – for the answers you need to solve your Detroit real estate investment difficulties – www.anthonylegins.com


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