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Updated over 6 years ago on . Most recent reply

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8
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3
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Nestor Rosero
  • Waldwick, NJ
3
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8
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Acquiring occupied rental properties

Nestor Rosero
  • Waldwick, NJ
Posted

How do you handle acquiring a rental property that already has long term Sec 8 tenants who’s rent covers beyond the cost to finance the property.  would like to acquire and rehab the property to force appreciation, but don’t know how to address it with the tenants.  

Most Popular Reply

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735
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694
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Jonathan Taylor Smith
  • Rental Property Investor
  • Durham / Raleigh (Triangle), NC
694
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735
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Jonathan Taylor Smith
  • Rental Property Investor
  • Durham / Raleigh (Triangle), NC
Replied

Every occupied property I've obtained I've gotten it vacant ASAP - with one exception, and that tenant wanted to buy the property post-rehab or I'd have gotten them out also. Rehabbing an occupied property is a nightmare that I'll avoid like the plague going forward. I'm clear with tenants that I'm buying to increase value and rents, but I aid as best possible to ease the relocation, even helping as a Realtor.

  • Jonathan Taylor Smith
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Blue Chariot Realty & Management
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9 Reviews

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