Buying a tenant occupied duplex

[Matthew L Hearn]

Hey there. I’m looking at a possible duplex acquisition that is tenant occupied. How would it work when I take over? Do I have to honor the lease currently in place? Also, if I’m trying to brrrr the property how do I do upgrades with tenants in the way? 

[Robert Rixer]

Leases have to be honored so you'd either have to wait until the end of the lease or offer "cash for keys" to get them out. It depends on what upgrades you're planning to do, but in most cases you have to wait until the tenant vacates. Live in renovations for something like a kitchen or bathroom upgrade are possible but messy.