My latest deal, 2 story duplex

[Brent Wiebe]

I’m brand new at using any type of forum, but felt maybe I’m ready to jump in.

My wife and I started investing in duplexes in 2012. Our first deal was a dilapidated old up and down duplex that was a foreclosure. I obtained it through a friend who wholesaled it to me. A summer of demolition, scraping, painting, and rebuilding, and we were the proud owners of a handsome property in a nice, quiet neighborhood. Since then we have acquired three more duplexes, including the one we are living in.

I got my real estate license in 2013, and have found that helpful. For my latest deal, I have an accepted offer on another old (1890's) up and down duplex that needs minor cosmetic work: painting, flooring and possibly one bathroom. The tenants were on a month to month lease , and since I wanted to work on the duplex right after closing, I wrote a contingency that the Seller was to give notice to the tenants, and the property was to be vacant before closing. The contingency also stated that if the tenants refused to leave, the Seller was to evict them at their own cost, also before closing. This has become standard procedure for me, but it has never been a problem removing the tenants.

I am extremely happy that I wrote the offer the way I did, because the tenants in one of the units have refused to leave. We have amended the closing date twice now to accommodate the Seller in giving proper notice and beginning the eviction process.

When I write offers for clients on rental properties (mostly duplexes), I always recommend receiving the property vacant if possible. That way you can get in right away to get repairs done, and you can start off on the right foot with tenants that have gone through your application and screening process.