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Updated about 7 years ago on . Most recent reply

Greg Dowdell's profile image
Greg Dowdell's profile image
Greg Dowdell
  • Rental Property Investor
  • from Westerly, RI
  • Member since Feb 22, 2017
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Greg Dowdell's profile image
Greg Dowdell's profile image
Greg Dowdell
  • Rental Property Investor
  • from Westerly, RI
  • Member since Feb 22, 2017
Connect
Greg Dowdell
  • Rental Property Investor
  • Westerly, RI
4
Votes |
9
Posts
General Landlording & Rental Properties

RI Rental Purchase With Current Tenants - South County

Greg Dowdell
  • Rental Property Investor
  • Westerly, RI
Posted

Hey BP,

Going to make an offer on a house in Westerly RI. This is a 3 family but the loan I'm going to use is the Home Possible loan with 5% down. The house is full right now and leases are all signed for the next 10 months.. This would be my first purchase and my primary home. I would have to live there. Has anyone been through the experience of taking over a property and having to remove a tenant to fulfill the duties of the requirements loan? What would be the best way to remove a tenant? Would it be my responsibility or the current owner?  

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