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Utah Real Estate Q&A Discussion Forum

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James Kirby
  • Utah
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New to land lording and having troubles with my first purchase

James Kirby
  • Utah
Posted Jun 11 2019, 13:40

I put in a bid on my first investment property but I am not quite sure how this works as I am obviously new to it. This is a 4 plex unit that is fairly nice with a little work that needs to be put into each one of the units. I would like 3 out of the 4 units to be empty upon me taking over the unit so that I can perform this work and also due to the loan I need to reside in the unit for 1 year. 

Currently, 1 unit is vacant and the other 2 that I want to be vacant need a lot of work and let's just say that the tenants are not taking care of the place the way that I would like my investment to be taken care of. 

I put my first bid in and it was rejected with no counteroffer. Their agent finally told us that it is due to us wanting 3 out of 4 of the units empty at the time I take over. What are my options in this situation? Am I legally obligated to uphold the current owner/tenant agreements in a 4-plex?

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