All Forum Posts by: Jason Miller

But would you if you could? If it still cash flows, would you take your chances with the new tenant?

No, the contract didn’t state that. I guess that is my first rookie mistake. 

I am under contract for my very first deal. It is a 4-plex in Arkansas. Two units are occupied with the remainder of their one year lease. The other two were being remodeled and empty when I went under contract. I just found out the seller agreed to a new 2-year lease without telling me. I have no idea how they screened and the monthly amount it still lower than what I planned to ask. 

Do I back out? Do I ask for a reduction in price? Do I continue of the cash on cash return is still within my limit, albeit smaller?

Thanks!