Fourplex/House Hack: How do I remove a tenant to live in a unit?

[David Slovak]

Good day,

I am extremely interested in making an offer and purchasing an older income producing fourplex.  Each unit has a private fenced (newly updated) patio and the units have a new roof.  I am in the approval process for a loan that includes down payment assistance and a low interest rate if I live in the property. (I will undoubtedly qualify so not worried there.)

The problem:  all of the units in the fourplex are rented.  How would I go about removing one of the tenants to move in myself should everything go through the way I am hoping it will?

Any advice or next steps would be greatly appreciated!

[Adam Pierce]

Oh well that's great if you have somebody who is month to month. You would just let them know that this is their last month staying there. If you need them out sooner than that, you could always try bribing them to move out sooner (don't pay them until they are gone). 

In regards to financing, if you are attempting to get an owner occupied loan, you may want to talk to a lender to see if you would qualify given the situation. 

You could also put a contingency in your offer and let the seller know that they have to remove one of the tenants in order for you to move forward due to your need for the owner occupied loan.