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Jon Shen
  • Los Angeles, CA
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Purchasing with existing late-pay tenants

Jon Shen
  • Los Angeles, CA
Posted

Hello All - First time posting, been listening to the podcasts and reading the forums religiously since the beginning of the year. I am considering buying my first out of state rental property in Indiana with existing tenants. Aside from the first month, the existing tenant has made payment 15-30 days late every month. I see late fees being charged only twice, but were both paid. The existing lease is set to expire in 2 months on 8/31/19. I don't think this is a cause for me to back out since the lease expires in only 2 months and I can re-evaluate this tenant at that time, but wanted to get some opinions from the BP community. Am I just being a nervous newbie investor? Many thanks.

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