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Updated almost 8 years ago on .

User Stats

40
Posts
13
Votes
Tony Roddenberry
  • Rental Property Investor
  • Brunswick, GA
13
Votes |
40
Posts

Estoppel Agreement of a section 8 with month to month lease

Tony Roddenberry
  • Rental Property Investor
  • Brunswick, GA
Posted

I am looking at a rental property here in Ga. owned by another investor that is a section 8 SFR. We will be putting in an offer close to his asking price and I'm pretty sure he will accept. The tenant is running on a month to month lease and I plan on doing a Dispo then renovating it for a flip.

Will be my first buy with a section 8 tenant in place and I don't know where to start with negotiating//navigating the transaction. My realtor suggested we put in the contract that the funds be held in escrow until tenants are out and can take possession.  Ga law says the tenants will have 60 days to vacate. So the question is what are some good strategies and the best way to negotiate deposit/rent, price and property condition until we take possession?

Times like these I wish I had a mentor!