Investor · Stamford, CT · Member since 2017 · 12 posts · 7 votes
Preparing for my first BRRRR deal. One thing I have not really seen touched on is how to best handle BRRRR when there is any significant amount of time left on a tenant lease.
Any experience or insight on how to best purchase or manage deals with pre-existing leases in place to reduce time it takes to get to re-fi?
Investor · St Louis, MO · Member since 2017 · 250 posts · 181 votes
6y
@Jason White You could offer to pay the tenant to leave, or you could just wait for the lease to expire. If they are on a month to month, they might volunteer to leave. Enjoy the rent you receive while you're waiting - if they don't pay, you can evict them. Hope this helps.
I'm planning first purchase at 2-3 unit so this may not even really be a concern. I can only imagine, if buying a larger complex, that you must need to wait 1 year plus to force appreciation and re-fi