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Updated over 8 years ago on .

User Stats

6
Posts
1
Votes
Eli Schmidt
  • Investor
  • Parker, CO
1
Votes |
6
Posts

2 Houses 1 Lot - Tenant Occupied..Options?

Eli Schmidt
  • Investor
  • Parker, CO
Posted

Hey guys, here's the situation. I'm working with a lead that has 2 SFR's on 1 lot. 1 is a 4 bed/2 bath that is currently rented for $900 (low for the market) and just renewed his lease for 1 year. The other is a 2/1 rented for $600 and they are month to month. The owner owns the property free and clear and is asking $250,000 for both. I've never purchased a home with a tenant in place and we would be looking to wholesale this deal. What are some creative options that we could structure this deal with? I'm thinking we could just get it under contract and wholesale it letting the buyer know that one of the tenants has a year left. Or, we could have her owner finance it until his lease is up next year and then flip or wholesale them? Any ideas would be greatly appreciated. My experience with rentals is minimal. Thanks!