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 over 11 years ago,

User Stats

55
Posts
26
Votes
Yu L.
  • Bay Area, CA
26
Votes |
55
Posts

difficult tenants + absentee owner not willing to kick them out

Yu L.
  • Bay Area, CA
Posted

I went into contract with this absentee owner. The ARV is $550k, contract price is $400k. The repair should be around $60k. However, there might be problem with the roof and major termite issue underneath the bathroom, since the wall in the shower was opened and the tenant just put something like a sheetrock there, it wasn't fixed properly, so water can go down and cause major damage to the subfloor or the foundation, which would greatly increase the rehab cost.

The tenants have been living there for over 23 years, they don't want to move, (a couple in the 50s with the dad in his 80s) so they don't let me in to do the inspection. Landlord inherited the property from his stepfather, he has $330k mortgage on it, he just do cash out re-fi this year and got $100k loan out of the property this year, so I guess he wants money. So to him there is about $70k profit.

I really need to do the inspection of the roof and the subfloor to see if that would cost me another $15k ~ $25k for the repair.

The landlord already filed eviction and received the Writ of Possession, so he can kick out the tenant and let me do the inspection. However, the landlord want to keep the rent coming in, that's why he doesn't want to kick out the tenant. We have been trying to get the tenant's cooperation to get in for the last 2 weeks without any success.

Without the inspection, it is hard to ask the seller to just lower it by another $20k, however, if I ask the landlord to kick out the tenant and then do the inspection and lower the price after that, the landlord might feel being used. And without the rental income, he might feel the pressure from the mortgage payment and be pissed off that I put him in that situation and cancel the deal.

So what would you suggest?

Loading replies...