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Updated over 6 years ago on . Most recent reply

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Stephanie Vitka
  • Meriden, CT
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Buying property with questionable tenants

Stephanie Vitka
  • Meriden, CT
Posted

In searching for my first rental property, I came across a multifamily property. It has two single family houses on one lot. It is a great deal, but there seems to be a reason why no one has jumped at it. There are tenants in one of the houses (I would owner occupy the other house) and when I went to tour the house my realtor warned me that they are usually awful to anyone who is trying to buy the property. He was right. I would have to get new tenants. I am now debating if I want to make an offer. The house has been on the market for over 100 days most likely due to these bad tenants. The good news is that they are on a month to month lease. I am worried that if I tell them I will not be renewing the lease they might trash the place or I might have to evict them. 

If anyone has any advice on this situation I would appreciate it!

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