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Updated over 4 years ago,

User Stats

9
Posts
3
Votes
Axel Enriquez
  • New to Real Estate
  • Hamilton, Al
3
Votes |
9
Posts

Buying investment property that already has a tenant

Axel Enriquez
  • New to Real Estate
  • Hamilton, Al
Posted

Calling on the BP community's superior minds. So my question is, should I buy an investment property that all ready has a tenant. But let me give you a little insight in to me, cause I know it depends all lot and on my specific situation. I am looking to buy my FIRST investment property, and I want to use the BRRRR method. Ever since I heard of it I fell in love with this strategy. So I found a couple of properties that need a good bit of work, but there is this one I really like in a great location but it has a tenant in it all ready. The tenant is paying about the medium of what rents going around my area. I want to renovate the property to increase the value of the property and get as much of my initial investment out. And I don't care if the tenant stays or leaves when I raise the rent a little for the newly renovated home, but can I even get them out so I fix the place up with all this covid stuff going on, do I have to spend money mroe to evict them? Or as a new investor should I just avoid a property with a tenant.

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