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Updated over 6 years ago on . Most recent reply

User Stats

155
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Patrick Fraire
  • Flipper/Rehabber
  • Long Beach, CA
118
Votes |
155
Posts

Seller wants me to inherit their tenant

Patrick Fraire
  • Flipper/Rehabber
  • Long Beach, CA
Posted
I’m in negotiation with a seller on a small multi family property in riverside, CA. They are out of state owners and are currently paying the mortgage for a friend to live there for free. She is a senior citizen and can’t afford to pay rent I guess? I offered $330k Seller countered at $340k + 1 year lease for their friend (old lady) @$1000/month (Market rent is $1050-$1150 /month) They will not budge on helping out their friend. Any advice on what I should do next?

Most Popular Reply

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6,241
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Aaron K.
  • Specialist
  • Riverside, CA
3,800
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6,241
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Aaron K.
  • Specialist
  • Riverside, CA
Replied

you could counter at $330k or even less and keep the "friend" because that seems to be the most important to them.  If the friend doesn't pay rent they would go through the same process as any other tenant in the same situation.  If you don't want to inherit any tenants your only option may be to move on.

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