Buying investment property that already has a tenant

[Axel Enriquez]

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.

[Anthony Dadlani]

@Axel Enriquez A Turnkey property is a good starting point for a new investor. However a true vacant fixer upper will allow you to do the brrrr method and hopefully get most or all of your money back at refinance. That may be challenging with the scenario you described. 

Best of luck in all your endeavors.