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Updated over 5 years ago,

User Stats

41
Posts
15
Votes
Jon Dang
  • Investor
  • Houston, TX
15
Votes |
41
Posts

Closing soon should I be worried? Vacancy? What to look out for?

Jon Dang
  • Investor
  • Houston, TX
Posted

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.

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