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Updated over 5 years ago on . Most recent reply

Ike Mouser's profile image
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Ike Mouser
  • Rental Property Investor
  • from Elizabethtown, KY
  • Member since Aug 11, 2019
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Ike Mouser's profile image
Ike Mouser's profile image
Ike Mouser
  • Rental Property Investor
  • from Elizabethtown, KY
  • Member since Aug 11, 2019
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Ike Mouser
  • Rental Property Investor
  • Elizabethtown, KY
0
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Buying & Selling Real Estate

What if the 4plex I'm buying is occupied?

Ike Mouser
  • Rental Property Investor
  • Elizabethtown, KY
Posted

I am purchasing a 4plex with an FHA loan. The loan stipulates I will need to live in one unit. If its occupied to I kick the tenant out or wait until one of their leases expires? Also with regard to rehabbing the place, how can I rehab the interior if they are still living in it?

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Martin Vehlow's profile image
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Martin Vehlow
  • Real Estate Agent
  • from Wauconda, IL
  • Member since Aug 21, 2016
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Martin Vehlow's profile image
Martin Vehlow's profile image
Martin Vehlow
  • Real Estate Agent
  • from Wauconda, IL
  • Member since Aug 21, 2016
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Martin Vehlow
  • Real Estate Agent
  • Wauconda, IL
99
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Martin Vehlow
  • Real Estate Agent
  • Wauconda, IL
Replied

Work with your attorney to include in the contract that one of the units must be vacant at closing. 

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