Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 4 years ago,

User Stats

4
Posts
0
Votes
Dylan Faltus
0
Votes |
4
Posts

Buying a fix & flip with existing tenants. How to remove tenants?

Dylan Faltus
Posted

Hi! I am purchasing a mobile home on land from a wholesaler under market value. My plan is to renovate the home and sell it. The home has existing tenants who have been living there for 8 years. The lease was signed when they originally moved in, in 2012. On page 1, it says the lease renews every year automatically. However, on page 2 it says the lease can be terminated by either party at any time with a written 30 day notice. I am a first time investor and am concerned there will be an issue where the tenants will not leave. 

Also, Ive seen where the new Biden administration is planning to extend eviction moratoriums by executive order within the first 10 days of taking office. Can anyone offer any advice on how best to navigate this situation? I am thinking to just offer the tenants full months rent ($700) if they can move out within the month of February. Possibly an extra $500 on top of that, if the original $700 is not motivating enough. I have attached 2 photos of the lease for reference. This property is in Florida.


Any advice or suggestions is GREATLY appreciated! 

Dylan

Loading replies...