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Updated almost 9 years ago on . Most recent reply

User Stats

7
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0
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Harrison Cook
  • Professional
  • Mount Kisco, NY
0
Votes |
7
Posts

occupied foreclosure home

Harrison Cook
  • Professional
  • Mount Kisco, NY
Posted

Hello BP i am new to real estate investing but i think i have a great opportunity on my hands.  There is an occupied duplex in my town that is going to foreclosure auction on Friday.  I am nearly certain that the owner does not live in the house and that both units are occupied. two questions.

1) if I win the auction is there any reason I would have to evict these tenants? i would ideally like them to stay and stat with a cash flowing property immediately.  Perhaps i am thinking about this wrong but would appreciate any advice anyone has on the subject.

2) Since i have not seen the inside of the house would it be a good or bad idea to try to speak to the current residents and ask if I could look inside to get a better idea of what I am buying. I have heard that if you speak to residents they think they may be evicted and can be proned to trashing the place but i am not sure here if anyone has any thoughts on that subject i would like to hear that as well.

thanks for your help BP!

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