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Multi-Family and Apartment Investing

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Tim Rainey
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28 Unit deal with 8 delinquents, Covid Eviction moratorium?

Tim Rainey
Posted Mar 1 2021, 10:01

I am evaluating a complex in a tertiary market with 8 residents who are delinquent in rent ranging from 55 days to 104 days. Current owner said he took it over in September from his partner and blamed poor renter vetting and said they are waiting on their tax returns. I have doubts that they will ever catch up but that they just wanted to show 96% physical occupancy.

So I think that the only prudent way to evaluate the deal is to assume that I will have to evict 8 residents. 

What is current state of CDC eviction moratorium? Is it currently making it harder to evict in Texas tertiary markets? 

Thanks,

Tim

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