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Updated over 5 years ago on . Most recent reply
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I’m new to wholesaling but I have a seller that’s ready to deal
I have a seller that’s ready to sale her house to me but she have tenants in the house that’s not paying no bills and don’t want to leave. This will be my first wholesale buy and sale but I really don’t know what I’m doing. Only thing I got going right now, is the seller is ready to do the deal with me. What should I do next ?
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Good morning Patrick,
Disclaimer... I have not done a wholesale deal yet but am trying to learn everything I can. So other's may have some better proven advice. But I would check the lease if they have one. The tenet's will have rights. But to complete the deal they would have to go. So it would be best to know your legal options in regards to removing the tenets in your state. Another option if the deal is good enough would be to offer them cash for keys. Pay them to move. But before you gave anyone any money I would lock up the property. Put it under contract. And make sure you have a deal. You could make the deal contingent on getting rid of the tenets. Hope this helps. Best of luck!