All Forum Posts by: Glenn Goodman

In this market a lot of renters have no where to go. No places for rent. Everyone wants places delivered vacant so they can fix up and increase the rents.

It's not a red flag. Very strong sellers market and if they do it, it's a total gift.

Thanks, Peter. This makes sense.

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Originally posted by @Conner Olsen:

@Glenn Goodman I've seen sellers not want to get their tenants out in case the deal falls through and they have a vacant property. I would look at their leases and see when you can get them out and rehab and rent at market rents. I don't think it's a red flag.

Thanks. This makes sense. Just wanted to check.

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Originally posted by @Bob Okenwa:

@Glenn Goodman

Your assumption of not having empty units in the event of a broken deal would be correct. Buyers have so many protections in a contract that they can walk away for a variety of reasons. As a seller, you need to protect yourself. If the buyer wants an empty property, they are free to go about vacating units on their own.

Thanks, Bob. That makes a lot of sense. Just wanted to check.

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Longtime lurker, first-time poster.

I'm an investor with two single family homes (a 2BR/1Ba and a 3BR/1Ba) in the small town I grew up in. I'm looking to buy a property in the city where I live now (about an hour away) where rent prices are much higher. I found a duplex with 3BR/1Ba on the first floor and 2BR/1Ba (with a bonus finished attic that could be a BR) on the top/3rd floors. The property is listed at $199,999. There is a pending offer on the table, but the buyer wants the seller to deliver the property empty. Apparently, at least one of the tenants has lived there for 24 years. The rent is grossly underpriced at $1,285 total for both units. The 3BR should be at least $1800 and the 2/3BR should be around $1400.

Is this a red flag that the seller won't deliver the units empty? Or are they just being cautious not to end up with an empty property that might not close? Thanks in advance for any insight.

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All Forum Posts by: Glenn Goodman

Glenn Goodman has started 1 posts and replied 4 times.

Post: Duplex Not Delivered Empty

Post: Duplex Not Delivered Empty

Post: Duplex Not Delivered Empty

Post: Duplex Not Delivered Empty