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Updated about 2 years ago on . Most recent reply
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Landlord does not want to kick out current tenants to renovate and increase rent?
Hi, I have been in contact with my LO about a duplex on the market. It has been in contract twice but fell through both times and it was listed 1k less that before. The most recent time it fell through was because the landlord did not want to kick out the tenants to find other tenants to pay a higher rent, landlord left it to the new buyer to do the work. I might be lacking some details of the situation, but regardless, I know that the landlord is difficult to work with but agreed to fix home for FHA loan. My question is, how would I deal with a situation similar to this, especially as a first time home buyer looking to buy my first investment property to build my portfolio?
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- West Valley Phoenix
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Some landlords will do this, they just want out. If you want the property bad enough you must accept the risk of dealing with these tenants. Since you're in California, you could have a tough time getting them out, though, so I'd personally just look for another property. No point in starting off with a headache like this....what if it cost you $40k just to get them out? There goes a lot of your profit, takes longer to make your return....