Good Morning All!
Ive begun the process of purchasing a 4 family investment property but I have a question that the realtor cannot answer:
Would it be more beneficial to have the tenants in the bldg. when I close? or vacant? Im asking bc in David Lindhals book, he mentions the buyer is entitled to a portion of the taxes and pro rated rents at the closing table.
So im not sure if I should have tenants still there or vacant.
Also, if I keep them, how do I go about getting them out after closing. Id like to place section 8 or HOPWA tenants in my building.
Replies
If the tenants are good paying tenants, then it's better to have them in place.
But that's often not the case.
In some cases, the owner is selling because he does not know how to manage tenants, and is dumping his bad-tenant headaches on you. Some won't tell you the truth and lead you to believe everything is fine.
Great advice. Thank you.