Wholesale Deal with Tenants in Place

[Kevin Morrison]

Hey ya'll!

Under contract for my first deal (outside of my first home that turned into rental) and its a wholesale deal on a small home (plus the lot next to it) in Greensboro, NC. It currently has tenants in place but is $200 under market rent as its in rough shape with long standing tenants. I am thinking its worth getting them out ASAP to get the work done and then relist it. 

With the way things are right now, is it worth hiring PM to handle getting the current tenants out? Or just work through it myself? If myself, is there a best "strategy" in getting tenants out?

Is there another strategy that I could consider outside of a) just letting them stay with their current month/month plan b) giving them the boot?

Thanks everyone!!

Kevin

[Scott M.]

@Jerry Puckett I think (that can be dangerous) that the OP is buying this wholesale, not wholesaling the deal.

If this is something you want to manage on your home then I would simply play it by ear.  After you purchase I would give notice to the tenants the lease will not be renewed and assuming this is a month to month go from there.  If they don't leave then you can decide your next steps but at least you served notice and you talked to them.  They may say yes and actually leave, problem solved.  Can't hurt to ask :) 

If all you want it help on the eviction front I wouldn't hire a PM I would hire a RE Lawyer to handle that part and then when they are out you are back in the saddle.