BUYING A PROPERTY WITH A SQUATTER IN PLACE

[Jake Drappi]

Hello all

I am currently looking at a deal on the MLS that notes in the description that the purchase comes with a squatter in place. I am assuming that because of the eviction moratorium, the owner cannot evict and just wants to get rid of the property. The numbers seem to make sense, but I haven't learned how to calculate a squatter into my numbers LOL. I know I have read about doing cash for keys and that sort of strategy, but what if after I purchase it, the squatter wants nothing to do with me and just wants to stay put. How would you go about getting some sort of commitment from the squatter that they will take cash to leave if I get my hands on the place? Also, what other strategies have you used to work around this sort of issue?

Thanks

Jake Drappi

[Joe P.]

First property, @Jake Drappi? Run. Unless you've dealt with a squatter before, there's no reason to add this type of stress to your life. Covid isn't going anywhere, you'll buy this property and sit on it while someone doesn't pay you rent, won't accept cash for keys, will continue to destroy whatever is left of the property, etc. It'll break you from wanting to invest.