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Updated over 5 years ago,
Closing soon should I be worried? Vacancy? What to look out for?
Hello BP family,
I was scheduled for a closing this Thursday.
Quadplex: 2br/1bath, cost $211k, seller pay closing. C class neighborhood. Repair 5k. New roof. Older hvac 12 yrs old.
Cash flow:600/month with PM
However, that has been extended a week since they have to evict two units. I have to extend my rate lock.
The issue is two units have to be evicted. U ut B has already been evicted and their cleaning that up. Unit A has eviction court Friday. I am scheduled to close next Wednesday. So that mean 2/4 are occupied. I am looking to home owner occupy, so really 1 is vacant.
It's too late to backout now. Did anyone else have issues prior to closing? I have a property manager that is working with me at the moment.
Any advice? How did yall get over being nervous? I'm very anxious, up until now I was told that the tenants were good.