All Forum Posts by: Sni Black
Sni Black has started 1 posts and replied 3 times.
Post: Newbie on rental property
- New to Real Estate
- Florida
- Posts 3
- Votes 0
Originally posted by @Kenneth Garrett:
When buying property with existing tenants you’ll need to follow your state law requirements. In general the tenant on a MTM you can give them a 30 day notice. The issue today is if your state has a no eviction moratorium during COVID they could stay and your stuck till the no eviction is removed. If your still in negotiations with the seller then yes it would be a good idea to have them resolve that first. If your past due diligence it will be on you.
Hi Kenneth, that is what I am afraid of. I don’t want to be stuck with the tenant. I spoke to my realtor about it today. Thank you for responding.
Post: Newbie on rental property
- New to Real Estate
- Florida
- Posts 3
- Votes 0
Originally posted by @Jack V. Ospina:
@Sni Black What does your title company doing the closing suggest? They should have an attorney on staff to assist you. Also, did you have anything in writing stating that one of the units be vacant prior to closing? Also, Not sure if the lender(Bank) will allow both units to be occupied if you are purchasing as a primary residence. A lot of questions that need to be asked prior to closing. Good luck!
Hello Jack, thank you for responding. No, I didn't have anything in writing stating it will be vacant. Today I spoke to my realtor about this and said he will speak to the seller’s agent in regards to this. I’m not sure if the title company is aware that both units are being rented out (I will ask them on Monday.)
Post: Newbie on rental property
- New to Real Estate
- Florida
- Posts 3
- Votes 0
Hello everyone,
I am new here and new to investing. I am buying my first rental duplex as a primary home. Both units are occupied one on a lease and other one on a month to month, the month to month tenant is currently not paying due to Covid-19. What would be your suggestion before/once I close on this property? Can I kick the tenant out since this is going to be my primary home, or should I ask seller to do something about it before closing? By the way I am in South Florida. Thank you for your time.