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Updated about 9 years ago, 09/23/2015

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5
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0
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Tony L.
  • North Miami Beach, FL
0
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5
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Closing on 1st Fourplex!! Inheriting 1 Tenant issue- Need Advice

Tony L.
  • North Miami Beach, FL
Posted

Finally closing on a Fourplex in 3 Days!!  This site has been an incredible learning experience and helped me pull the trigger!!   Two 2/1 bedrooms and 2 Efficiencies.  Paid 215k and put 20% down with an owner occupied loan.  Right now the total Rents are $2700 ($900 month for one 2/1, and $800 for the other 2/1,  $500 for each efficiency)

The 1 efficiency tenant has been notified to vacate so I can take that unit for the 1 year owner occupant requirement from the lender .  The previous property manager had him on a month to month lease with NO security deposit and he hasn't paid for September and hasn't left yet and kept asking to stay and would have his brother-in-law co-sign etc. since he always pays late according to the property manager. 

What options do I have before closing to ensure this person doesn't completely destroy the unit and actually leaves etc?

Any input/help would be greatly appreciated!!

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