What would you do?!????

[Thomas Marks]

I have a few properties in FL under my belt but I have recently ventured into KCMO for the attractive rent to purchase ratios and landlord friendly laws. I am dealing with a newer turnkey company; trying to sell me a property without a tenant in place. The property is currently being listed for rent. 

I'm afraid the property will remain vacant due to time of year - its almost the holidays. This company says average time to fill is 30-60 days. Would you buy a property from a TK provider without a tenant in place? Isnt that the point, cash flow from day one? There's a real chance this property can sit vacant through the holidays and I'll be out of pocket for the mortgage + taxes. This property is in Independence, MO. Would love your thoughts....

[Henry M.]

@Thomas Marks I think you answered your own question. If this is a turn key, why not have a qualified tenant in place?

What does the market say in that specific area? Have you spoken to any property managers in that area?

What is the going rent for that type of home in that area?

What is the occupancy from surrounding properties in the area?

Can this qualify for an AirBnB?

What happens if they do not find a suitable tenant in 60 days?

I believe previous poster had a good point by negotiating the price considering it is not CF out the gate.

Just some thoughts.

"Big" Henry