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Updated almost 3 years ago on . Most recent reply

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9
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10
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Rob Lee
  • Rental Property Investor
  • Newark, DE
10
Votes |
9
Posts

Should I buy a property with non paying tenants

Rob Lee
  • Rental Property Investor
  • Newark, DE
Posted

I've found a few deals but the properties are inhabited by tenants who are either in the process of being evicted or they need to be evicted for being behind on rent. Should this stop me from buying the properties? Will it be ok if I just buy keeping in mind that I won't make money until the eviction process is over? Please advise and share your knowledge and experience.

Most Popular Reply

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2,465
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3,857
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Patricia Steiner
  • Real Estate Broker
  • Hyde Park Tampa, FL
3,857
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2,465
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Patricia Steiner
  • Real Estate Broker
  • Hyde Park Tampa, FL
Replied

Buy the properties?  Yes - but only under the condition that the properties be delivered vacant at closing.  To do otherwise gives you the joy of having your new acquisition come with legal fees, court costs, property damage, and no cash flow.

Buy the property - not the seller's problems. 

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