I am looking at buying a 2 BDR with a triplex in the back. The real challenge with the buy and the reason it has sat on the market for 6 months is that the back tenants have trashed the place and need to be evicted as a first step. Has anyone gone through this process and become a seasoned expert on eviction best practices and how many months and cost that I should factor in the cash flow analysis?
Matthew, carefully inspect the lease and see if you have cause for evicting these tenants. This is a legal process and you cant just kick them out because you don't like how they live. There has to be some contractual/legal basis for their eviction. Just a thought! Best of luck
Wow that's tough. Have you thought of meeting/talking to the tenants? You might find out how dug in they are. Maybe you could get a sense if cash for keys would work in this case.
*** This is not legal advice and I am not your lawyer. ***
This is a pretty good summary of the eviction process in Texas. Very important to know exactly what the lease says and what the statutes require.
Thanks everyone. I suspected that the process would have ample legal considerations, especially in the fine lines between what might be normally expected wear and tear and more destructive tendencies. I will take an in depth look at the existing agreements and see what the stipulations are. If the leasing agreement is not all that ironclad or payments are being consistently made, which I suspect they are since they have government assistance coming in for that purpose.
Why not offer to buy it with the condition that the tenants be out prior?
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing