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Updated over 7 years ago, 08/31/2017

User Stats

50
Posts
6
Votes
Darius Lipsey
  • South Bend, IN
6
Votes |
50
Posts

Owner move in evictions South Bend, Indiana

Darius Lipsey
  • South Bend, IN
Posted

Hey, BP!

So ideally I'd like to buy some type of multi family property as my first investment most likely a duplex, but a triplex, or fourplex would be even better in my opinion for cash flow. Icurrently live in an apartment and rents are just too high to justify throwing away anymore money on living with nothing to show for it. I love the idea of house hacking  considering I could finally move to the investor side of the market while cutting my living expenses. I do have financing lined up which requires the property to be owner occupied which is the goal, but most of the properties that I'm seeing for sale are occupied by tenants. Or complete wrecks. I'd rather avoid buying a property that needs a full remodel because I don't have the cash around for that nor the means to do a ton of repairs myself. I'm not sure how to go about or even if i can use the bank financing I have to purchase a place that must be owner occupied within 60 days of purchase. I've read about owner move in evictions in California and other areas, anyone know if that is a thing in Indiana? Or if leases could be renegotiated with tenants after closing? I don't want to put people out on the street, but at the same time my apartment lease is nearing its end and I don't want to be on the street either. Nor do I want to re-lease and continue pay absorbinate rent for lack luster living. Any suggestions?

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