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Updated about 4 years ago,
Buying my first multi family
Hello everyone and thank you for taking the time to read this. This is my first post on bigger pockets. I am Anthony and I live in Connecticut. Let me start that I am buying my first multi family. I am using FHA financing and planning on living on the third floor and house hacking for about 2 years. I am very nervous because I never done this before. I'm also excited because I'm taking the steps to build wealth. Just thinking about buying the house brings anxiety, chills and excitement.
My question is this... the first floor tenant is an issue for the current owner. I do not know the exact detail but what I know is that she is behind rent. What should I do? FYI... I can’t start the eviction process in CT until January 2021 because of COVID. Now I understand that this tenant could be a nightmare for the current owner but be good for me. If I have to I will be mean but that is not my approach. I want to help in good faith. One last thing I forgot to mention... this is a short sale. I am waiting for approval for the bank. What are your experiences? What will you do in this situation? Any information will be great!
Thank you 😄