Skip to content
×
PRO Members Get
Full Access
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime.
Level up your investing with Pro
Explore exclusive tools and resources to start, grow, or optimize your portfolio.
~$5,000+ potential annual savings on vetted partner products
10+ deal analysis calculators with ready-to-share reports
Lawyer-reviewed leases for every state ($99/package value)
Pro badge for priority visibility in the Forums

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago on . Most recent reply

User Stats

12
Posts
0
Votes
Jorge Garcia
  • Investor
  • Pembroke Pines, FL
0
Votes |
12
Posts

Buying a house with tenant in place

Jorge Garcia
  • Investor
  • Pembroke Pines, FL
Posted

I am considering buying an off-market property from a distressed out-of-state owner who has a tenant that doesn't pay her any rent in order to fix and flip it. I already inspected the property, spoke with the tenant and got a feel from him for what his intentions for moving are. The owner already told him she is selling to me and needs him to move out. The tenant assures me that he is looking for a place; however, I am skeptical that he will move out within the next month or two on his own.  I offered him moving assistance ($2000 cash) in order to incentivize him. Should I buy this house 1) with verbiage in the contract that closing is contingent on tenant moving out or 2) with tenant still living in property with hopes that I can get him out soon. After all the eviction moratorium has ended. I know most of you will say #1, which makes logical sense, but with #2, I'm sure I can negotiate a lower purchase price because that way I'm getting rid of the owners' headache and they can have their money faster. I know it's a risk, but the way I see it, at worst I lose a month, maybe two, in the eviction process, and my lower purchase price will more than offset a month or two of carrying costs. Also not sure if my hard money lender will approve of Option 2.

Loading replies...