Purchase a 4plex evict everyone??

[Kenisha B.]

Hello BP Fam,

I found a 4plex in Texas, at a decent price, but the rents aren’t at market. I highly doubt anyone would want to pay an extra $500 a month in rent, so I’m thinking I’d have to evict everyone. Is this a bad idea? I guess if they have security deposits… they won’t get mad and trash the place 🤔. I do feel terrible displacing a bunch of people (when rents are so high)… but this is business so i need to “woman up” I suppose & not get emotionally invested. My realtor tells me it’s pretty easy to kick people out in Texas… unlike in my hometown (Los Angeles)… but has anyone don’t this before? If so did u find new tenants easily and did the old tenants leave peacefully? Also how much does it typically cost to get an apartment unit ready for a new tenant? 

[Thomas Nowak]

Have you thought of giving them a notice for the price increase at the end of their lease?  This would put the decision on them.  If they are quality tenants I would try working with them with possible incremental increases as well if time is not an issue.  Real estate investing is a fine balance between business and peoples living.