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Updated over 7 years ago on . Most recent reply

Carrie A.'s profile image
Carrie A.'s profile image
Carrie A.
  • from Dubois, Indiana
  • Member since Mar 29, 2016
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Carrie A.'s profile image
Carrie A.'s profile image
Carrie A.
  • from Dubois, Indiana
  • Member since Mar 29, 2016
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Carrie A.
  • Dubois, IN
16
Votes |
120
Posts
Multi-Family and Apartment Investing

Buying rental property in the middle of the month!

Carrie A.
  • Dubois, IN
Posted

HELP!!! I'm realizing that my real estate agent (who has a property management company) doesn't know much!!!  I'm do to close on a duplex on Tuesday.  It is completely rented out.....  what happens with the rent that has already been collected??? Does the landlord keep it? Do I get it???   I'm at a loss!!!

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John Lenhart's profile image
John Lenhart's profile image
John Lenhart
  • Rental Property Investor
  • from Cincinnati, OH
  • Member since Jul 25, 2017
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John Lenhart's profile image
John Lenhart's profile image
John Lenhart
  • Rental Property Investor
  • from Cincinnati, OH
  • Member since Jul 25, 2017
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John Lenhart
  • Rental Property Investor
  • Cincinnati, OH
207
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258
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John Lenhart
  • Rental Property Investor
  • Cincinnati, OH
Replied

I like closing between the 5 and 15th of the month. This way the rents are in and we get larger pro-rations and less money to bring to closing. Also, it helps with the transition to new management giving tenants time to adjust their mailing addresses.

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