Auctioned house with renter in & unsure how to legally start BRRR
Hello, I just finalized an auctioned home purchase and am unsure of what approach to take going forward. There is currently one renter in the duplex and I plan to start rehabbing the property immediately. I am unsure if I legally am allowed to go and view the interior yet and would very much like to do so as soon as possible. I think i would like the renter to stay during construction, while i rehab the other unit. I don't have any of the rental information from the previous owner: rent, length, how they have done making their payments, etc.. The exterior needs to be worked on right away for the insurance company. I should be able to start on that immediately correct? Any help is appreciated.
Do you have the deed? You said you finalized an auctioned home purchase, did it close thru a title company or is this a trustee sale? Either way, if its recorded and you are the owner, there's no one you have to ask to get in your own home. (I'm thinking there is more to this story). Get a locksmith and rekey it. Start construction. Knock on the door of the tenant and tell them the situation, keep the communication open with them, sign a new lease if you agreed to let them stay. Good luck!
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Lender AZ (#NMLS1792860)
- Boomerang Capital Partners
- [email protected]
Please do not just kick them out or rekey the home. That is a lawsuit waiting to happen. See if they are willing to do cash for keys, where you can pay them a sum of money to leave in a small amount of time (a week or 2). If they are not open to cash for keys, hire an attorney ASAP and start the eviction process. Keep in mind, only do any of this after you have a recorded deed
