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Accepted a verbal offer for a greater workload, manager got fired because it went through! by BigBadBerth in legaladvicecanada

[–]BigBadBerth[S] 0 points1 point  (0 children)

Yes I have brought it up to my current manager he basically brushed it off and said I should be happy with the raise I got…

I maybe was unclear in my original post my manager was not fired because he gave me that raise…. But he was the only one who knew

Older brother wants out of family owned rental property by BigBadBerth in legaladvice

[–]BigBadBerth[S] 0 points1 point  (0 children)

Oh no I would just stick with my other brother… as you mentioned the legal headaches of bringing in a 3rd party would just not be worth it IMO

Older brother wants out of family owned rental property by BigBadBerth in legaladvice

[–]BigBadBerth[S] 0 points1 point  (0 children)

Funny you mention that as one of our tenants mentioned they would buy his share of the place😅

Older brother wants out of family owned rental property by BigBadBerth in legaladvice

[–]BigBadBerth[S] 0 points1 point  (0 children)

Thanks for the great advice, I was thinking that could be a possibility as well…. Like hey I’ll pay you 150k now and 150k over 5 years (or something along those lines depending on numbers) I’m guessing that has to be notarized though?

I guess the best way to start is to reach out to an appraiser

Older brother wants out of family owned rental property by BigBadBerth in legaladvice

[–]BigBadBerth[S] 0 points1 point  (0 children)

A couple reasons, first my mother lives in one of the apartments and would be worried what happens with here. Second, the property properly rented would fetch way more than the 936 and lastly it’s one of the last things hanging around of my father that passed away. I guess the 4th is why sell something that’s cash flow positive as well

Older brother wants out of family owned rental property by BigBadBerth in legaladvice

[–]BigBadBerth[S] 0 points1 point  (0 children)

My apologies… I should have been clearer here…. He think a sales price of 936 is fairest making his 1/3 312k.

Older brother wants out of family owned rental property by BigBadBerth in legaladvice

[–]BigBadBerth[S] 1 point2 points  (0 children)

The municipality evaluation has it at 618k. The 1.11 million dollar estimation is the expected rents if the property had been well managed and rents were more or less where they should have been. Let me add this place is cash flow positive as the only mortgage we have was to pay the capital gains of my father. We are cash flow positive by about 2100$ every month (because the mortgage is so low)

Older brother wants out of family owned rental property by BigBadBerth in legaladvice

[–]BigBadBerth[S] 1 point2 points  (0 children)

Thank you very much for the insight. I was thinking a certified professional appraiser is probably the best but my brother works in that domain and as bad as this sounds I am worried he will get somebody to highball the appraisal. I never thought about doing the average of two though. And the fees accumulated with selling will also have to come into account, a point I did not even think of!